Conversation

Sumit Kumar
@TweetsOfSumit
One thing I did to hopefully gain even more focus is to list Geoman on
@microacquire
. Let me share a few things about Geoman and this process: ✅ Numbers ✅ Buyers Interest ✅ P&L 🧵👇
Quote Tweet
Sumit Kumar
@TweetsOfSumit
Said "no" to a few awesome opportunities to start more projects/companies with great people. Hurts. But focus is required. While I am an advocate for building multiple companies/projects, I can't juggle 5 that all require lots of attention.
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Sumit Kumar
@TweetsOfSumit
Geoman is 3 things: 1. An awesome open-source
@LeafletJS
plugin (>1M downloads) 2. A Pro version of said plugin ($) 3. A free GeoJSON editor waiting to be monetized Let's talk about each one of them.
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Sumit Kumar
@TweetsOfSumit
Leaflet-Geoman (
@leafletjs
plugin, free). I've built and maintained this for like 9 years. It's (afaik) the best plugin in its class. I hired a freelancer a while back to maintain it. It's now the one (and only) marketing channel for the Pro version.
github.com
GitHub - geoman-io/leaflet-geoman: 🍂🗺️ The most powerful leaflet plugin for drawing and editing...
🍂🗺️ The most powerful leaflet plugin for drawing and editing geometry layers - GitHub - geoman-io/leaflet-geoman: 🍂🗺️ The most powerful leaflet plugin for drawing and editing geometry layers
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Sumit Kumar
@TweetsOfSumit
Replying to
@TweetsOfSumit
Leaflet-Geoman Pro I started selling this for $99 a month. Then I switched to an annual licence and doubled pricing for every new customer to see how much it might be worth. The highest I sold a license for was $13.500/yr. All leads are inbound only. All sales are from that.
Image
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Sumit Kumar
@TweetsOfSumit
I suck at sales, so the conversion of these inbounds can be GREATLY improved. Right now, it's doing around $64k ARR. As I only started focusing a bit more in sales this year, there's still lots of potential. YoY revenue growth is 250%. I also got help managing inbound sales.
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Sumit Kumar
@TweetsOfSumit
The only operating costs are
@github
and
@vercel
at $66/mo. Custom feature development is sold at $1.200/day and done by a freelancer. So for me, this is like a 95% profit margin. I mentioned before that Geoman is MUCH more lucrative than Parqet.
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Sumit Kumar
@TweetsOfSumit
The product is basically finished. All additional work on it can be paid. Otherwise licenses can be sold as-is. There is 0% churn. Most customers are enterprises or governments. All work on it will be mostly to GROW revenue, not to maintain it. Imho, it's a fantastic biz.
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Sumit Kumar
@TweetsOfSumit
As I mentioned, I want to reduce mental overhead. I'd like to focus more on Parqet / Fintech as well as Minimal Empires (Twitter, Youtube, etc). So how much would I sell this for? If I'd get a few years' worth of revenue for it, I'd probably sell. Enter,
@microacquire
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Sumit Kumar
@TweetsOfSumit
MA only allowed me to list Geoman at 5x ARR max. So it's currently listed at €300k. I originally wanted €500k. Why? - Ultra-low maintenance - Obvious sales targets (thousands of companies using the free version) - Basically finished product - No OpEx - LOTS of potential
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Sumit Kumar
@TweetsOfSumit
I got 10 buyers interested so far. MA apparently chose Geoman for its next newsletter which could increase interest. As this is my first time selling a project, I have lots to learn. E.g. I just finished the P&L and will share this shortly (with buyers, and you, here).
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Sumit Kumar
@TweetsOfSumit
I will update this thread as this moves on. Could become a sale. Could also result in me keeping it. Either way, if you're interested in how this pans out - follow
@tweetsofsumit
.
Quote Tweet
Sumit Kumar
@TweetsOfSumit
One thing I did to hopefully gain even more focus is to list Geoman on @microacquire. Let me share a few things about Geoman and this process: ✅ Numbers ✅ Buyers Interest ✅ P&L 🧵👇 twitter.com/TweetsOfSumit/…
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Sumit Kumar
@TweetsOfSumit
Getting the first request to purchase just a part of it and let others manage the business while I stay on ad a passive advisor, participating with a profit/rev-share. Also interesting.
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