We have a startup catering to mainly local restaurants. We are still working in MVP stage, almost for 6 months now, and adding features mainly what our early users have been asking.
The idea is validated with end users and is very scalable to other regions once MVP is proven.
Some key all-time metrics to give a fair picture of the startup health.
- Paying 2.5 to earn 1
- 31.6% signups convert to paid
- 10.4% visitors signup
- 3.3% visitors pay
- 5 months runway available
- LTV:CAC ratio is 1.6:1
Our business model does not have a recurring model, so we have kept the sales process almost a no-touch (self-service) one.
For marketing we use Google Adwords, Postcards, local online classifieds.
We initially used to do cold-calling, which was very erratic & a drain on energy. Now we focus only the customers who have shown interest in the service. i.e. they need us too. This way we can focus on potential payers & serve better.
Our concern is Marketing. We need more interest in our product, more visits. Spending more on marketing will mean less runway.
SOS? I am open for discussions here.