Tally: Form-Builder Earning $30,000 Per Month

Hello !

In this week’s newsletter, we will talk about:

  • Webflow Product reaches 18,000€ MRR within 90 Days
  • Company specializing in Gift Boxes earns $20K Revenue Per Month
  • Form-Building Platform reaches $30K MRR in 2 Years

These stories show you that you can reach any height of success if you chase your dreams. So, let’s begin!

1. Webflow Product reaches 18,000€ MRR within 90 Days

DerokkiDev website

DerokkiDev is a Germany-based platform offering Webflow services, i.e., it helps customers design and develop websites for their companies in a simple and efficient manner, without wasting much time. There are 3 plans currently available:

  • Lite Plan: Available at 5k€ per month, this plan is suitable for solving classic Webflow requirements of companies.
  • Enterprise Plan: This plan can be subscribed to at 5k€ per month, by rapidly growing companies whose workload is high.
  • Lightspeed Plan: This is available at custom prices, depending on the Webflow services a company needs.
DerokkiDev pricing plan
DerokkiDev features of product

Davor Egyed, the founder, was always fascinated by Webflow design and wanted to pursue it fulltime. He realised that though Webflow editors are useful for building websites without any coding, certain small changes and modifications that can be done easily unnecessarily required a hefty amount of money. This is the field where he freelanced for medium and large businesses, charging a basic amount of fees.

Soon, he realised the market potential and decided to grow this business by introducing it as a product in June 2022. Through IndieHackers, Webflow Designers Group, social media platforms, affiliate programs, etc., he marketed his services and gained his first customers.

It proved quite successful – earning 8K€ MRR in only 17 days. Motivated and full of confidence, Davor wanted to scale and expand his business, crossing the monthly 5-figure revenue. Some of the factors that worked in his favour were:

  • Specialising in one service: Though initially he also did web design, it soon became a burden and tedious. He stopped offering the service and only concentrated on what he did best – Webflow development.
  • Catchy USP: Taking inspiration from Brett Williams of Designjoy, he changed the USP to an attractive one, and created a new website copy emphasizing on the advantages of his service.
  • Transparency: He gradually displayed the prices and features of the product, multiple payment modes, etc., that increased the clients’ satisfaction and utility. Davor’s main goal was to keep his customers happy and to fulfil all their needs and requirements.

All his effort and hard work paved the way for accomplishing great feats – in September, just after 90 days of launch, DerokkiDev had reached a MRR of 18,000€. And that’s not all, it is showing the probability for further growth, in terms of size as well as income.

Davor is now aiming to develop more websites, improve the existing features and keep his customers satisfied. Though he likes to work solo as he always has, he has been collaborating with another freelancer for a month, and wants to build a team and reach an income of 7 figures.

2. Company specializing in Gift Boxes earns $20K Revenue Per Month

Confetë Party is a Washington-based company that specialises in designing and selling gift boxes meant for any occasion or special moment of your life. There are four types of gift boxes available:

1. Ready to Ship: These are already designed by the team and are useful when you are in a hurry. Prices range from $41 to $98.

Confetë Party ready to ship box

2. Build a Box: You can select the gifts you want to be included in this custom gift box, and also decide the price range.

Confetë Party build a box

3. Corporate Gifting: Companies send gift boxes to their employees through this, thus increasing the connect with them. These are also available at custom prices.

Confetë Party corporate gifting

4. Virtual Party Box: This is similar to Corporate Gifting, and it helps you plan and arrange parties for celebrating any event at custom prices.

Confetë Party virtual party box

Additionally, you can also purchase single gift items from the website, available in various categories and prices.

Jamie Taylor, the founder, had always been creative. She wanted to combine this talent of hers with the passion to become an entrepreneur. With the help of a business coach, she launched a business of event management, where the main focus was on organizing parties. Though it didn’t work out, except the special balloon installations, it taught her various lessons regarding life as well as the corporate world.

During the pandemic in 2020, the business suffered huge losses and had to be shut down. In a fix, Jamie and her team of 4 launched the Virtual Party Box that worked pretty well. Starting this business made her sacrifice many things in her life, but nothing deterred her from following her passion. She started with just $10K and a small supply of items, but it gradually grew with time.

Much creativity and hard work went into designing exclusive and unique gift items, along with the boxes. Customers provided feedback about the items they wanted, that saved a lot of time and money wasted in buying gifts that would not be in demand. Initially there was no marketing done – customers came solely from promotions in social media and the website. What made them popular and different from other competitors was the fact that these gift boxes were entertaining, modern and enjoyable. Also, continuously innovating and improving existing items, taking regular review from customers have helped them grow and refine themselves.

All these proved successful as Confetë Party currently has traffic of about 1K per month, with 5 minutes of page view, and 1200 email subscribers each month. It enjoys a sales revenue of about $20K per month, with 30% gross margin on average. Recently started paid advertisements, managerial and planning efficiency, SEO and blogging, etc., have also contributed much to this achievement.

Jamie is planning on expanding the business to other locations and other markets. She wants to introduce more types of gift items at competitive prices.

This story shows you that despite facing hardship in life, nothing can stop you from becoming successful if you are focused and determined.

3. Form-Building Platform reaches $30K MRR in 2 Years

Tally website

Tally is a Belgium-based platform that allows you to create forms for all possible purposes, without any use of coding. There are lots of features that let you generate forms in an environment similar to that of word document. Though most of these features are available for free, there are some extra features that can be availed of by purchasing the Pro plan, at $29 per month or $290 per year.

Tally free features
Tally Pro plan

Marie Martens and her partner Filip Minev were both successful in their respective fields of work. But their common dream was to develop a product for marketing influencers who were rapidly becoming popular. Through a landing page and Google form, their idea caught the attention of 100 hotels, thus fulfilling their first aim. In 2020, when they got a good number of customers and flew to Bangkok for the next step, the pandemic struck hard and they had to return home. They weren’t demotivated by this and continued working on their product.

However, after losing 50% of their customers and due to uncertainty in this industry, they decided to change the trajectory and launch a form-building platform for customers with no knowledge of coding. In 2020, the MVP was introduced, and the public loved it. The couple took their feedback positively and introduced new features every week to make it more engaging. It also became the top-ranking product for 23 hours on Product Hunt in 2021.

The major factors that worked in their favour were:

  • Making the product, its features and prices simple.
  • Keeping no secrets about the product, sharing every detail with the customers and taking their criticism.
  • Improving and modifying the existing features, and adding new and better ones.
  • Promoting Tally through offers, blogs, affiliate programs, etc.
  • Analysing the market thoroughly and making themselves distinguishable from the competitors.

Word of mouth of the satisfied users brought in more and more customers, who found Tally worth their time and money. The fact that Tally can be used for free also worked wonders. Their efforts finally bore fruits as within 1 year, Marie and Filip gained 11K users, surpassing a MRR of $5K. At the end of 2021, this data reached 16.7K users and $8.5K MRR respectively. In 2022, after two years, the couple reached the landmark of $30K MRR, with a customer base of 50K customers.

Tally MRR after 1 year
Within 1 year, Tally surpassed a MRR of $5K.
Tally MRR after 2 years
After 2 years, Tally reached a MRR of $30K.

They are now trying to deal with the increasing burden of introducing new features, revamp existing features, supporting customer, etc., all within limited time. Additionally, there is the threat of fraudsters and scammers. Even then, the duo of founders wants to build a dedicated team and expand Tally through modifications and experiments.

These three stories show you that even if you do not achieve triumph in your first try, do not give up – by trying again and again, you can surely taste the sweet fruits of success!

News Bites

1. New UPI Figure Alert!

In 2016 UPI was a relatively new and partially known concept, fast-forward 6 years, and the numbers behind this phenomenon are mind-shattering. Not only the number of transactions carried out but also the collective amount transferred makes for an interesting read.

If we are talking purely about the number of transactions, then you should know that as many as 678 crore transactions were done alone in the month of September 2022. And if we talk about the amount transferred then we are talking about a figure of Rs. 11 lakh crores that was transferred. Both the figures have been on the rise and in the previous month, 657.9 crore transactions worth Rs. 10.72 lakh crore were carried out. 

The transaction number and value have risen in October and are expected to rise further in November due to the festive season. This comes on the back of the fact that there was consideration earlier this year to impose charges on UPI payments, that may have discouraged the users.

2. RBI Launched Tokenization of Debit and Credit Card 

Effective from October 1, 2022, the Reserve Bank of India (RBI) ordered banks to produce tokens for all credit and debit card information used in online, point-of-sale, and in-app transactions. Before tokenization, the online platform for payment stores the debit or credit card information, including the cardholder’s name, 16-digit number, card verification value (CVV) code, and expiration date.

In the beginning, only interested cardholders’ mobile phones and tablets had access to the card tokenization mechanism. The RBI later chose to broaden the scope of tokenization to encompass consumer devices like laptops, desktops, wearables, and Internet of Things (IoT) devices as a result of an increase in tokenization volume.

When making purchases through an online store or mobile app, the customer will have to provide all of their credit card information. The merchant will request permission to tokenize the card at the moment of purchase and start the tokenization process. Then they will submit the request to the card network after receiving the customer’s approval. If a person chooses to tokenize their debit or credit card using CoF, card providers will substitute the card number with a token and provide the retailer with this special value rather than their actual card information.

In tokenization, Primary Account Number (PAN) and any other card information are not stored by the token requestor. Since the real card data are not given to the merchant during transaction processing, tokenized card transactions are safer than the usual transactions. The authorized card networks will hold card information, token information, and other pertinent information as per security and safety protocols. 

For domestic card purchases, the tokenization procedure is entirely cost-free. By securing consumer information, the tokenization method aims to lower online fraud.

3. Hong Kong Investment Meet: Bankers Not Attending and an Upcoming Storm  

Weather issues, geopolitical issues, and Covid-19 have embroiled the Hong Kong Investment Meet 2022. The issues and troubles peaked as the top three bankers backed out of the meeting. 

The Hong Kong Monetary Authority’s three-day event is intended to demonstrate that the city is back in operation after 2 years of exclusion brought about by Covid restrictions as it cast doubt on its potential as a hub for global finance. Starting on November 2nd, the conference is projected to draw 200 attendees from more than 100 large worldwide corporations, including banks, securities firms, asset managers, and hedge funds.

C.S. Venkatakrishnan, Chief Executive Officer of Barclays Plc, canceled a trip to Asia this week, which included attending the Hong Kong summit. Additionally, Jane Fraser, the CEO of Citigroup Inc., has informed that she would no longer be attending the summit after catching Covid-19. And now recently it is notified that the President of Blackstone Inc. Jonathan Gray too has contracted the virus, and will be replaced by Chief Financial Officer Michael Chae instead at the summit. 

According to a schedule posted on the website of the Hong Kong Monetary Authority, Fraser was scheduled to appear on a panel about sustainable finance. Gray was scheduled to speak on a panel regarding global uncertainty. And, no panel appearances by Venkatakrishnan were planned for the conference.

As if Covid is not enough, weather conditions have diluted the excitement for the summit. As severe tropical storm Nalgae is getting, the city’s observatory on Monday increased the no. 3 strong wind signals and they are yet to issue any higher alert. According to the observatory, the storm is presently 630 km south-southeast of Hong Kong and is expected to move 10 km per hour north-northwest. 

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Until next week, keep minting money!

Aditya

Founder, Moneymint