In the previous post, I explained what Databased is and why I decided to build it. In this post, I’ll briefly explain what I’ve done so far to launch it and generate some initial sales.
I launched the first version of Databased on CodeCanyon, last Thursday (eleven days ago today). We submitted it a few days earlier, but the reviewers saw it fit to request a few changes to the documentation before accepting it into the market place. After we these changes, we resubmitted the application and it got accepted. CodeCanyon priced the application at $30 which seems fair enough. It’s a bummer that half of each sale goes into Envato (CodeCanyon’s parent company) pockets, but so be it.
So, as for the numbers, to date we have made 33 sales which generated $990 in sales. Of that $999, $504,90 made it into my pocket. Guess I’ll have to wait with getting me that Benz a little while longer! In all honesty, is this good, bad or just ok? I find it hard to say, since it’s been only eleven days. If we can maintain this level of sales, we’re looking at well over a $1000 a month in semi-passive income, which doesn’t seem to bad. That said, I know from experience that often times sales tend to decrease over time on Envato’s market places, so we’ll have to wait and see.
Another way to look at these first few weeks is like a sort of trial period, a phase during which we get the application to real users and receive real and honest feedback about the product, and get paid for it! That’s doesn’t seem to bad, does it?
Dealing with people who are trying to install the software on shared hosting or otherwise incompatible hosting situations has been a challenge, which has got me doubting again about how to proceed. Should I cancel support? Should I take the application off of CodeCanyon and start selling it directly? Should I turn this into a SaaS product? Tons of questions, all without answers. So it seems to make sense to, at least for the time being, keep things the way they are for at least another few weeks and then re-evaluate. I’ll keep the application on CodeCanyon while working on improving it (fixing up some bugs and adding some additional features) until the end of March.