Been referred to this sub by the Ask me anything community.
5 years ago I created a news streaming app containing live news events from around the world. Though I faced a lot of setbacks and challenges along the way, the app has been operational thus far.
Here comes the challenge - The operational costs have significantly overtaken the earnings generated by the app. In less than 24 hours, a bill of 7000 USD awaits. If I combine my savings + funds in my account, I have about $1400 .
Should I attempt to raise the $5600 in the few hours remaining? Or would it be wiser to bid the business goodbye?
Someone suggested I set up a fundraiser. I’ve got some contributions so that’s a good sign!
Any other ideas will be appreciated.
Have you considered if some operational costs can be reduced?
For example:
Hooray, now suppose the costs go down from 7K yearly to 100$ yearly, what does he have left, a business that does 5k yearly?
7K server costs is fine, focus on increasing income.
It seems to me that decreasing the bleed of an unnecessarily expensive architecture is fruit that hangs much lower, no? I’d personally focus on reducing cost in this scenario before increasing revenue. Neither solves OP’s immediate problem, though.