The speaker, Tikue Anazodo, shares his journey of building Kudos and monetizing the business. He discusses various strategies for earning and saving money.
The speaker, Tikue Anazodo, shares his journey of building Kudos and monetizing the business. He discusses various strategies for earning and saving money with the Kudos business model, as well as how to create value for investors.
think the best way to figure out who loves your product is to charge them for it. >> So now imagine that I put you into a time machine >> and I bring you back in time. I bring you back to, you know, when you were still, you know, maybe 2021 where you're thinking about like doing something of your own and >> you're able to give that younger self one piece of advice before launching a business. What would that be and why? Given what you know now, >> I would actually think about monetization earlier because we had a strategy for monetization, but because we were a consumer product, the goal was let's figure out scale and then we'll start to layer on monetization. I would actually probably charge for the product from day one because I think it actually gets you to optimize towards building a product that people explicitly want to use and you can layer on all the other
business models. Well, I think we kind of did it in reverse where we wanted to build something and figure out what people cared about and then we scaled that thing and then we started to layer on the merchant business model, the issuer business model and then we layered on premium. Um, I think what it did was part of that journey, we ended up acquiring a lot of users that were actually not the right users for Kudos. Because if you're optimizing around just acquiring people who just register for the product or who use it for a number of days or whatever, some of those people actually don't necessarily love the product you're building. I think the best way to figure out who loves your product is to charge them for it. So, that's the one thing I think I would do differently. I would optimize towards charging people from like super early in the product life cycle so that we're building the
highest value things for those users.