Dave Rodenbaugh – How to buy your way to fame and fortune as a Bootstrapper (Microconf 2014)

Guest Speaker: Dave Rodenbaugh (@daverodenbaugh)

Main Takeaways

  • Runs a wordpress plugin business (Another WordPress Classifieds Plugin and Business Directory Plugin)
  • Started as a freelancer and was tired of trading hours for dollars
  • Two approaches to have a product: buy or build
    • Build: more work required. Need to find a market that has a problem that can be solved with a product. And then have to promote it
    • Buy: need to focus on promotion only (if you have chosen your product wisely)
  • Purchased the AWCP website on Flippa for $1,000
  • When purchasing a website you want to make sure that:
    • It has established traffic and customers
    • A poor sales funnel and design (so you can optimize it)
    • Max $2000 price tag (you shall be prepared to lose that money)
  • Support is everything for a wordpress plugin (that’s why people pay premium for)
  • Charge higher for plugins
  • Customers love bundling but you need to put a lot of stuff in the bundle (about 65% of revenue comes from bundles)
  • WordPress.org is google for plugins much easier to rank and you automatically get good ranking in google
  • Follow the rules when list your wordpress or you’ll be kicked out
  • Can you do that? Find something that interests you on Flippa, buy something in your budget, improve the experience, get feedback

Read notes of all the other talks in the Microconf 2014 Hub page.