(This is a business case study. It will be used to guide discussions during the session: “Money, Money, Money: How the Paysite Pros do Billing – Testing” with co-hosts Mitch and Thierry of Vendo at the Paysite Meetup.)
Sunday evening Mike’s mind always turned to work. He couldn’t help it. Since he’d started his business it had become a ritual. He began feeling butterflies in his stomach around the time the sun went down. His thoughts turned to Monday morning and the week ahead. It was a migratory pattern of the mind. Out of the weekend and into the grind.
“I got luxury problems,” thought Mike. It wasn’t that his Porsche was in the shop (well, it was, but that wasn’t the problem he had on his mind right now). The luxury he was thinking about was all of his ideas for how to improve his business. “The ideas are gold,” thought Mike.
The problem? Putting the ideas into action, mining the gold. Like every tech company in the world he had too few developers. Mike thought, “I own a gold mine and all I have is a damn Pick and Shovel” (using his nicknames for his two developers, Peter and Steve).
He’d just read an article in Harvard Business Review about the all of the ideas that Big Tech are putting into action. It depressed him. This line in particular hurt, “Amazon, Booking.com, Facebook, and Google—each are conducting more than 10,000 online controlled experiments annually, with many tests engaging millions of users.”
“How am I going to mine the wealth of ideas I have?” Mike asked himself as Sunday night turned into Monday morning.
- How can I take ideas around billing and put them into action?
- What are the “hard” and “soft” metrics to look at?
- Which tools are available for testing?