It’s a few days early for a New Year’s resolution. Even so, my New Year’s resolution for 2019 is to seriously attempt to start a bootstrapped business. A few weeks ago, I announced Perfalytics to the world. Perfalytics is a neat idea I’ve been throwing around for a while.
The core idea behind Perfalytics is to make it easy for a database administrator to optimize their database. I based Perfalytics on a tool I built during my day job. I found the tool useful and I figure there is a good chance others will too.
I have a soft goal for Perfalytics. By the end of 2019, I aim to be making $100,000 in annual recurring revenue.
When I think about that goal, I get simultaneous feelings of dread and excitement. $100,000 sounds like way too much. How could I ever get there? At the same time, it also seems oddly within reach. Doing the Math, if I were to charge users of Perfalytics $99/month, I only need 100,000/99/12 = ~85 users by the end of the year. To phrase it another way, if I’m able to add seven users to Perfalytics each month, I’ll hit my goal.
The first step to achieving that goal is to get people actually using Perfalytics. Right now I’m close to completing the MVP and should finish it within the next few days. Once I finish the MVP, I’m going to reach out to a few people that signed up for the free beta and get them started using it. I’m excited to see what the initial reaction to Perfalytics is going to be.