Regarding your question on revenue, if all of the money passes through your business (you collect all of it, then pay the creator their portion) then it’s all revenue and the portion you pay the creator is an expense for your business.
...great read and good luck Leo...the business will always be there but the travel book is going to be freshest in your mind now...get that out of the way and then free your mind to build the business you are already thinking of or something else entirely...
Thanks Cansafis, Good take! I was so focused on the business last week that I completely forgot about travel.. I feel like I need some time to re-focus...
I think you've captured some great insights on the dynamics of social media companies which reflect the outdated wisdom of grow first, then be profitable. You are trying to do what I've seldom seen accomplished which is to grow a social media site from profit on Day 1, which is exciting to see regardless the outcome.
This means that your revenue is whatever you charge customers (which I think is $5 dollars) and your earnings is what remains after you subtract all the costs of doing business (operational costs and the payment to creators). Make sense?
Sorry about losing Aadhar, but who knows? Maybe the universe has something else in mind for you. I didn't vote for the book, not because you couldn't do it, but because you could. Easily. How about a 3-month retreat somewhere? No phone. No computer. THEN you could write a book about the contrast between your planetary travels and what you discovered from your personal inner travels. Ha ha, just an idea.
Regarding your question on revenue, if all of the money passes through your business (you collect all of it, then pay the creator their portion) then it’s all revenue and the portion you pay the creator is an expense for your business.
Also, a travel book would be very interesting.
...great read and good luck Leo...the business will always be there but the travel book is going to be freshest in your mind now...get that out of the way and then free your mind to build the business you are already thinking of or something else entirely...
Thanks Cansafis, Good take! I was so focused on the business last week that I completely forgot about travel.. I feel like I need some time to re-focus...
I think you've captured some great insights on the dynamics of social media companies which reflect the outdated wisdom of grow first, then be profitable. You are trying to do what I've seldom seen accomplished which is to grow a social media site from profit on Day 1, which is exciting to see regardless the outcome.
Regarding your question on revenue. Check out this definition: https://www.investopedia.com/ask/answers/070715/what-difference-between-earnings-and-revenue.asp#:~:text=Revenue%20is%20the%20amount%20of,company%20generates%20before%20deducting%20expenses.
This means that your revenue is whatever you charge customers (which I think is $5 dollars) and your earnings is what remains after you subtract all the costs of doing business (operational costs and the payment to creators). Make sense?
Got it 👍 Thanks Camilo. Ya, I’m not sure if I want to continue w/ the startup. Choices, choices..
Sorry about losing Aadhar, but who knows? Maybe the universe has something else in mind for you. I didn't vote for the book, not because you couldn't do it, but because you could. Easily. How about a 3-month retreat somewhere? No phone. No computer. THEN you could write a book about the contrast between your planetary travels and what you discovered from your personal inner travels. Ha ha, just an idea.
You’re on the right track Rick .. looking for more crazy ideas like this 💥