Hi guys,
Two years ago, we launched our startup (all previous attempts didn't even last an year). It started out slow, but picked up gradually. Today, its one of the top 3 web services in its 'genre', in terms of traffic and market share.
We started as a free service, but moved to a 'freemium' business model last year. Our revenue comes from paid plans and advertising. Our monthly revenue ranges between $500-$1000. We are working on a few other avenues for marketing and promotion, which can increase our revenue.
We have no immidiate plans for IPO, or selling our startup, or finding an investor. We want to continue growing our startup organically.
But, I've been thinking about expansion a lot lately. I was wondering, how can one grow a startup once it reaches a profitable stage yet small-scale (like us at the moment)? We have revenue around a few hundred dollars coming in, but how can we take it to the 'next level' and increase our sales volume as well as profit margin?
Any advice, suggestions, or views are most welcome. Thanks!