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Double Down or Shut Down? Nathan Barry of ConvertKit – Love Your Work, Episode 143
Nathan Barry (@nathanbarry) knows better than anyone: Sometimes, you’re working hard on something, and it’s just not happening. How do you decide whether to double down, or shut down?
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This is what Nathan was asking himself two years after launching his email service, ConvertKit. He was bringing in only $1,500 a month, and he was losing customers every month.
It was time to decide: Double down, or shut down.
Today, ConvertKit brings in much more than $1,500 a month. They recently had their first million dollar month.
Spoiler alert: Instead of shutting down, Nathan did double down. Today, we’ll analyze how he made that decision:
- When Nathan decided to double down, he had no idea if his business would succeed. How did Nathan – and his spouse – mentally prepare for the worst-case scenario?
- Nathan had to dig into his savings to the tune of $100,000 to double down on ConvertKit. What criteria did he use to know whether or not to quit.
- What was the one question Nathan asked himself that ultimately got him to double down?
This is a super valuable conversation. It’s incredibly helpful if you’ve been working on a project that just isn’t taking off. I’ve used this conversation myself to think about this podcast, how I define success, and how I should divvy up my own resources amongst my various projects.
If you’re curious about ConvertKit and it’s features, try out a ConvertKit free trial.
(Note: Since recording this episode, ConvertKit has decided not to rebrand as Seva after all.)
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Theme music: Dorena “At Sea”, from the album About Everything And More. By Arrangement with Deep Elm Records. Listen on Spotify »
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