When it's time to terminate a project?

I've learned that my most important asset is time. It's essential to make sure I'm investing it in projects that will actually make money and not just waste it.

I recently had a conversation with Tibo, the founder of TweetHunter, who sold his company for more than 10M.

He shared with me an important lesson on when to terminate a project:

Tibo explained that when launching a project, it's important to look at the conversion rate.

If the conversion rate is not good enough at first, it's a good indicator that the project should be terminated.

This is because the conversion rate tends to actually decrease over time, because the first users are actually your early adopters, the ones that really want a fix for the problem you are solving.

This advice has been incredibly helpful for me as a bootstrapper. I now make sure to regularly assess the conversion rate of the projects I'm working on, and if it's too low, I have the confidence to terminate the project and move on to something more profitable.

It's essential for bootstrappers to make sure they're investing their time in projects that will actually make money. Understanding when to terminate a project is a key part of that. By regularly assessing the conversion rate, bootstrappers can make sure they're investing their time in projects that will bring in the best return.