The Secret to Building a Product Trading Market with an Annual Revenue of $72,000 with Zero Marketing Budget
Have you ever wondered how you can create a product marketplace that generates $72,000 in annual revenue without any marketing budget? It may sound weird, but Lawrence Just and Jan Fillip, the founders of Bits Four Digits, have done just that. Their platform not only provides owners with an anonymous and free place to sell all or part of their business, but also earn a steady $6,000 per month. So, how do they do it?
It all started with a simple idea. In 2016, Lawrence and Jan met at university in Copenhagen, Denmark, and have formed a deep friendship ever since. During their studies, they often discussed the topic of entrepreneurship, but they always felt that they needed to accumulate more experience before actually starting a business. However, in the summer of 2021, they decided to quit their jobs and start building Bits Four Digits.
The idea was inspired by an interesting deal where Base Camp founder David sold a portion of their business to Jeff Bezos. Through this transaction, David and his team not only gained liquidity and ensured financial security, but also retained sufficient ownership to continue operating the company. Lawrence and Jan saw the potential for such acquisitions on a global scale and realized that founders and investors needed a centralized marketplace. Thus, Bits Four Digits came into being.
To test their idea, Lawrence and Jan conducted countless interviews, gradually defining their target group: self-made Internet business owners and established micro-private equity acquirers. They then built an MVP (minimum viable product) platform using some simple no-code tools like Webflow, Member Stack, and Member Chat and sent it to potential customers for testing. As a result, they received a lot of positive feedback.
In the early days of their business, Lawrence and Jan did not rush to seek venture capital, but relied on their own savings and high-paying jobs in the financial and technology industries to make ends meet. This gave them enough time to perfect the platform and resist the temptation of venture capital early on. This solid strategy ultimately proved successful, as their platform now generates approximately $90 in monthly subscription fee revenue and is growing steadily.
So, how did Lawrence and Jan attract users without any marketing budget? The answer is simple: they focus on providing valuable content and building community. They help users solve problems by sharing what they have learned without expecting anything in return. This selfless dedication not only attracts a large number of users, but also allows them to establish a deep trust relationship with their users.
In addition, Lawrence and Jan also paid great attention to testing different traffic channels. They found that community building, content marketing, and sales were the three channels that worked best for them. As a result, they began to invest more energy in these channels to interact with users and solve their problems. This strategy not only increases user satisfaction and loyalty, but also gives their platform significant SEO results.
For other entrepreneurs who want to start or are just starting out, Lawrence and Jan’s advice is: first, you don’t need to be a programmer to build an online business; second, don’t reinvent the wheel and be good at learning from other people’s successful experiences ;Finally, don’t be discouraged. Entrepreneurship is a journey with ups and downs. You must be brave enough to face challenges and keep working hard.
Overall, Lawrence and Jan's success is no accident. With their keen business insight, strong execution and deep understanding of user needs, they successfully created a product trading market with zero marketing budget and annual revenue of US$72,000. Their stories tell us: as long as we have good ideas and put them into action, we will be able to create our own business miracles.
Share on Twitter Share on Facebook
Indie123
Comments
There are currently no comments