They always say the adult industry pushes the Internet forward so I thought I’d take a look at the Friend Finder Networks (you know the Adult Friend Finder ads) SEC filing to see if there’s anything we can learn from their business, which did $243 million in revenue in 9 months in 2008. You can also read Andrew Chen’s take on it.
The Name of the Game: Conversions
The key for them to make money is to continually increase their conversion rates of free members to paid subscribers. Pretty much every business comes down to conversions – you just need to figure out what the right metrics are and maniacally improve them.
Some Interesting Risks They Note
Notable Social Networking Features
That’s all for now. It’s always neat to peek under the hood of another business to see what they’re focused on and what they’re worried about. I found the couple of risks I noted to be particularly interesting.
Any thoughts? What risks are you worried about? Are you tracking the right metrics?
Justin January 6th, 2009
I can’t believe it’s been 3 years of entrepreneurship. It continues to be an experience I cherish and whole-heartedly recommend. Being your own boss and having the flexibility to work on what you want, when you want and from where you want really is priceless.
2008 brought some great new milestones for us:
All in all a great year! While our properties are now owned by Delta Beans, the two-bit blog will stick around as way to continue to document the experience. Each day always brings more learnings as we try to grow and juggle an increasing number of projects.
Personally, here are some goals I have for 2009:
I’m not even going to try to promise blogging more since I don’t want to make a promise I can’t keep, but you can always connect with me on Twitter and I’ll try to do better about blogging :).
Have a great year!
Justin January 5th, 2009
As an entrepreneur, there are many times when you want to get some feedback on something you’re working on or planning to work on. It might be the name of your new company, the strategic direction of your products, or even just different versions of ad copy or images. Sure you can annoy your friends with emails or go to a coffee shop and ask people, but in either scenario you’ll be getting a pretty skewed sampling and wasting your time.
What if I told you that you could get 50 answers to your question in a matter of a couple hours, complete with explanations and demographic info? All for just 5 bucks. Would that interest you?
If it does, then PickFu is for you!
PickFu is our latest little project. It’s a simple service that gives you cheap & instant market research into the general Internet-using population.
You can also leave a comment if you want be considered for our Beta program. Beta users get 5 free questions – that’s a $25 value!
We’d love to hear any feedback you have on the service!
Justin December 23rd, 2008
Posted In: Announcement
Tags: market research
Working in an office is so passé. If you haven’t heard yet, all the cool kids are working virtually now. Whether that be working from home, cafes (John’s pushing the limits in China), on the beach, or even “co-working” together at cafes or homes. And now that I think about it, I’ve been working in virtual teams my entire full-time career – how odd.
On my first day of work at HP back in August of 2001 I met my boss over the phone. My boss, Mike, worked and lived in Atlanta, GA. We did weekly team meetings on the phone and used web cams that streamed our live pictures to an internal “hollywood squares” webpage so that we could all see each other. Over the course of my HP career, I worked with teammates in half a dozen states and numerous countries in Europe and Asia. The cool thing about the organization I came into was that they were sort of the virtual team collaboration pioneers in HP so we experimented with all kinds of tools and techniques, with one of the most memorable being a virtual party we had where there were break out rooms on the conference lines and games like virtual pictionary using the NetMeeting whiteboard. Fun times.
In Loyal’s own words:
We created it to share the techniques and tools that make telecommuting and other forms of virtual work productive, easier and even fun. We want to encourage the use of virtual work as a way to improve business effectiveness and productivity, save on fuel, reduce pollution, and improve the quality of our lives. What better way to be green than to leave the car in the garage or avoid that next flight? Plus, you’ll lower your stress and have more time for family and friends.
Once you can get in your own virtual working groove, you’ll never want to go back.
Justin October 28th, 2008