4 Ways to Monetize a Community
August 30, 2024
If you’ve built a community, it’s not always immediately clear how you will make money.
Today we’re talking about how to handle Hyper Growth. While every founder dreams of having a rapidly growing base of happy, paying customers, the reality is that very few companies experience triple-digit monthly growth once their revenue surpasses $1 million annually. Now, if you are in that exciting position, what do you do?
Burnout is a major concern during hyper growth. You and your team might be motivated but there are only so many hours in the day. People power is the bottleneck you need to address urgently, putting self-starters on your biggest problems.
Given the market is already demonstrating strong demand, you can delay new features and instead focus on bug fixes and reliability. You already discovered a valuable solution, now stay the course on scaling it.
Given how rarely you see hyper growth, it usually makes sense to raise capital. You may not get a better opportunity to set both favorable terms for a round and choose your preferred investors.
Best of luck out there.
