TinySeed Tales 8 | Success and the Ongoing Struggle
Startups For the Rest of Us
Rob Walling
4.9 • 819 Ratings
🗓️ 12 December 2019
⏱️ 21 minutes
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| 0:00.0 | You decide you want to start a podcast. Two weeks is such a random, ambiguous amount of time for you to decide, like, okay, I have to do this in the next two weeks. |
| 0:13.7 | You know, we're a team of six people, and you hear the people that have kind of made it to a much larger extent than I have. It gets to the |
| 0:21.8 | point where the people are like the most important and maybe the hardest part of the whole thing. |
| 0:31.7 | Welcome back to Tiny Sea Tales, a series where I follow a founder through their struggles, |
| 0:35.8 | victories and failures as they build their startup. I'm your host, Rob Walling. I'm a serial entrepreneur and co-founder of Tiny Seed, |
| 0:41.8 | the first startup accelerator designed for bootstrappers. This is the eighth and final installment |
| 0:49.7 | of our series with Craig Hewitt of Castos. But don't worry, if you love following a founder week by |
| 0:54.8 | week, listen at the end of this episode for a preview of the founders we're going to follow next. |
| 0:59.7 | In our last episode, we covered how Craig launched a big experiment. Instead of requiring a credit |
| 1:04.6 | card at the start of a 14-day trial, he took away that requirement and expanded the volume |
| 1:08.9 | of people coming into Castos' free trial funnel. |
| 1:11.7 | The big question was, would this translate into increased conversions? |
| 1:16.1 | So we removed credit card from our trial sign-up process, and everything about that has gone really well, |
| 1:24.6 | with the exception of our trial-to- paid conversion ratio, which we kind of knew |
| 1:29.4 | wouldn't be great just because we have some things in like our onboarding process that |
| 1:36.6 | aren't exactly right and some UX things that need some tweaking and things like that. |
| 1:41.5 | That we knew when we started that our trial to paid conversion |
| 1:45.2 | ratio would take a big hit. It always does when you go from credit card to no credit card, |
| 1:49.3 | but we're still a little bit below like the benchmark that I set for us of like 10% is |
| 1:55.1 | kind of the low watermark. We're a little bit below that. And so we're definitely still growing. |
| 1:59.9 | Our growth is about the same as it was when we required credit card. |
| 2:03.4 | So that's cool. |
... |
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