I founded an open source focused IT Consulting startup 7 years ago without any business knowledge and had to learn by doing over the years.
But during all this time I was never able to really understand if I’m on the right path or if I should just stop investing my time since I don’t feel it’s really growing fast enough.
Over the 7 year span the employee count averaged 5 people, and our revenue was 1000USD on the first year and will be around 190k USD this year with 32kUSD in net income.
I try to keep earnings high and costs low, and until this point almost zero marketing was done (which I think is the most likely reason for lack of high revenue)
Am I on the right track here?
I run my startup as a side business since it can’t yet support my living expenses due to high taxes in my country.
Any hints? Would you quit your job and focus 100% to attempt increasing the revenue/profit?
Should I wait more?