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The Most Powerful Internet Metric & AI SaaS: Path to Financial Freedom for a 30-Year-Old

If you are running a web business and can only focus on one metric, what should it be?

Author

Fither
July 04, 2024

If you're running a web business and can only focus on one metric, what should it be? Should it be the click-through rate or the conversion rate? Which one deserves your focus? 🤔

Hey! 👋🏻 It's Fither again. I'd like to share my life update with you in this daily article. It might be the boring part of this post, but I prefer sharing my daily life here rather than on other platforms or social media. Feel free to skip it if you prefer!😀

Now my son is staying at his grandmother’s place with my wife, who is actually her mother. I'm working in another city to provide for us 😀, which is totally fine. Yesterday, he played in the swimming pool, and for the first time, he didn't cry despite the cold water. I'm really proud of him!👶🏻

📰 In Today’s Pick..

#1. The Most Powerful Internet Metric

If you are running a web business and can only focus on one metric, what should it be?

The Most Powerful Internet Metric of All - Above the Crowd

If you are running a Web business and can only focus on one metric, what should it be?  By a landslide, the answer is conversion rate. “Once in a while You get shown the light In the strangest of places If you look at it right” — Grateful Dead If Archimedes were alive today, he likely would be working for an Internet company (isn’t everyone?) and be focused on finding a highly leveraged way to do things better.  For those of you who don’t know, Archimedes was a Greek inventor born in 287 B.C. who is accredited with inventing the [...]

abovethecrowd.com/2000/03/06/the-most-powerful-internet-metric-of-all

Excerpt:

Let’s assume you spend $10,000 to drive 5,000 people to your site, and your conversion rate is 2 percent. This means that 100 transactions cost you $10,000, or $100 per transaction. Now let’s assume your conversion rate rises to 4 percent. The same $10,000 buys you 200 transactions at a cost of $50 per transaction. An 8 percent rate gives you 400 transactions at a cost of $25 per transaction. As conversion rate goes up, revenue rises while marketing costs as a percentage of sales fall – that’s leverage.

Bill Gurley

Conversion rates.

Conversion rates are a metric of action that measure the effectiveness of a web page.

All online business is about prompting action. Whether it's blogs, newsletters, or e-commerce, they all require the end user to take some action, such as subscribing (please do subscribe to Ther’s Insights, I beg you), purchasing something, or booking a one-on-one call.

Even if you run an ad that drives a high click-through rate, if the overall user experience on your site is terrible, it is useless. As Bill said, "As they say, you can bring a horse to water, but you can’t make it drink."

Thus, conversion rates are the most important metric. So, subscribe to our newsletter using the button below.

#2. AI SaaS: Path to Financial Freedom for a 30-Year-Old

In today’s age, a multimillion dollar company can be funded in a very cheap initial expenses. A 30-year-old regular guy changes his life from living paycheck-to-paycheck into financial freedom leveraging today’s latest web development and AI technologies.

30-year-old founder launches an AI product and goes from broke to financial freedom with $190k MRR

Jozef Gherman found financial freedom at last when he launched an AI startup. Here's what it looks like to go from broke to $190k/mo.

www.indiehackers.com/post/30-year-old-founder-launches-an-ai-product-and-goes-from-broke-to-financial-freedom-with-190k-mrr-oGqHDJa4QzPh7AGanyPr

Here is the excerpt for the article:

You do not need funding to start a company. He took investment, but only to scale it. He started his company with $250 of his hard-earned cash.

Now, more than ever, there are huge opportunities for online businesses. Development tools and tutorials are free, social media is free, and hosting is free in the beginning thanks to Vercel's free tier.

He says you just need to buy a domain, which is cheap. Then launch your product and connect it to the right audiences. If it fails, either the product or market didn't fit, and you should adjust accordingly.

Indie Hackers

With the right amount of effort, everything now seems possible. If you want to build a SaaS, there is a YouTuber who provides a comprehensive tutorial to guide you step by step in creating a complete SaaS app.

Here is an example:

This guy is incredible. Be warned: if you follow along with his video to build the app, a new video might come out before you even finish the tutorials. That happened to me.

There are plenty of tutorials by others (other than that guy) out there. So if you want to build an app, you don't need to spend a single dime on learning how to code.

According to some articles, launching an app that reaches a lot of people seems inexpensive. However, I don't have personal experience with that.

We are fortunate to live in this age of opportunity. But it would be unfortunate not to take full advantage of it.

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