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Fundamentally, every startup is challenged with the daunting quest to find a sustainable and scalable way to generate revenue. And much like testing different product features in your quest for product-market fit, you will likely need to experiment with different monetization strategies as well. In the video below, Seth Sternberg explains that it takes time to create a working monetization strategy, so it is essential that you devote the same passion and resources to it as you would your product.
Seth Sternberg is the co-founder and CEO of meebo, a social platform connecting users with their friends across the web that currently has $125m+ uniques/month.
In this talk from last year’s Silicon Valley Founder Institute, Seth shares invaluable insights on his journey to creating meebo’s monetization strategy as a brand advertising platform, and lessons learned from the pitfalls along the way. As he eloquently puts it: “your startup is dying every day you’re not profitable.”
If you like the video below, follow Seth on Twitter at @sethjs.
