1 hr 1 min

Funding Open Source With Agency Work — How Plugins Are Really Built Smart Marketing Show

    • Marketing

As much as we like to think Open Source is all about giving and not getting, it isn’t a sustainable model. Peace, Love, and WordPress are great, but we still need to eat.

So how are plugins really funded? In this episode, Jason and Bridget will be joined by Chris Badgett who will tell us how he used agency work to fund his plugin’s development: LifterLMS.

Take a listen. Let us know your thoughts.

Preroll Sponsor Thank you for being a preroll sponsor, ServerPress! ServerPress is the maker of DesktopServer, WPSiteSync, and so much more!

WPblab Sponsors VendorFuel VendorFuel is a next-generation shopping cart plugin that will ignite your eCommerce. Built using AngularJS VendorFuel lets you keep your customers on your website for the entire checkout experience. Start a 90 day free trial now and Ignite Your eCommerce at https://VendorFuel.com

Kinsta If you are you tired of unreliable or slow hosting check out Kinsta.com, who takes managed WordPress hosting to the next level. Powered by Google Cloud, all their plans include PHP 7.3, SSH access for developers, one-click staging area, 20 global data centers, free SSL, free CDN and 24×7 expert support who will also migrate your site free of charge.” https://Kinsta.com

Sponsor our show If you’re interested in sponsoring our shows, check out the details on our sponsor page. We offer episode by episode spoken ads, rather than large contracts. A show by you for you.

Nonprofit ShoutOut: WP&UP Chris wore the Matt Report hat that also supports WPandUP, a nonprofit helping individuals with mental health in the WordPress space. They can use your help.

A Bit of Background On Chris Badgett and LifterLMS He started as a dog musher in Alaska. When he decided to do freelance work, he charged $300 for his first WordPress website. He’s experienced every part of the WordPress journey — from pricing to roles. 
Eventually, he merged his company with codeBox and his passion for learning with Thomas Patrick Levy’s coding skills lead to the intentional creation of their own LMS product, which didn’t exist in WordPress’ plugin directory at the time.
He tells his story in-depth in the Work From the Inside Out podcast.
They used their high-end projects to fund the development of LifterLMS which took two years to break even and three years before no longer “having difficult conversations with their wives,” as Chris put it. 

Product Launch The MVP version of the free LifterLMS was built in 90 days. codeBox always intended to move away from agency work but specialized in high-end clients and course creators. It was a natural, yet intentional shift. Five years later, codeBox no longer provides agency work.
“It’s a process; not an event. I see a product launch as the starting point not the finish line.” Chris Badgett
How Long Does It Take to Become Solvent? It realistically takes two to three years. This is on part for most businesses. Be ready to make hard choices. 
Focus on customer financing with early adopter discounts. LifterLMS had no other source of funding, private or venture capital, other than customer financing and agency work. They were quite literally bootstrapped. 
Chris, as an avid survivalist and minimalist, made hard choices to live far below his means. That was a decision he and his wife made to help the business. It’s also a lifestyle they still believe in.

Balancing Client Work and Product Development Pricing correctly matters. There are only so many billable hours in the day. If a client site has an issue, that is a priority over development time. Most bootstrapped businesses in Open Source don’t have the funds in order to sustain a separate development team.
“Client work always cannibalizes the product.” Chris Badgett Be realistic in your goals and time allotment. Don’t get discouraged.

Why Not Copy An Existing Product? Sure, you can fork another project. GiveWP was forked from E

As much as we like to think Open Source is all about giving and not getting, it isn’t a sustainable model. Peace, Love, and WordPress are great, but we still need to eat.

So how are plugins really funded? In this episode, Jason and Bridget will be joined by Chris Badgett who will tell us how he used agency work to fund his plugin’s development: LifterLMS.

Take a listen. Let us know your thoughts.

Preroll Sponsor Thank you for being a preroll sponsor, ServerPress! ServerPress is the maker of DesktopServer, WPSiteSync, and so much more!

WPblab Sponsors VendorFuel VendorFuel is a next-generation shopping cart plugin that will ignite your eCommerce. Built using AngularJS VendorFuel lets you keep your customers on your website for the entire checkout experience. Start a 90 day free trial now and Ignite Your eCommerce at https://VendorFuel.com

Kinsta If you are you tired of unreliable or slow hosting check out Kinsta.com, who takes managed WordPress hosting to the next level. Powered by Google Cloud, all their plans include PHP 7.3, SSH access for developers, one-click staging area, 20 global data centers, free SSL, free CDN and 24×7 expert support who will also migrate your site free of charge.” https://Kinsta.com

Sponsor our show If you’re interested in sponsoring our shows, check out the details on our sponsor page. We offer episode by episode spoken ads, rather than large contracts. A show by you for you.

Nonprofit ShoutOut: WP&UP Chris wore the Matt Report hat that also supports WPandUP, a nonprofit helping individuals with mental health in the WordPress space. They can use your help.

A Bit of Background On Chris Badgett and LifterLMS He started as a dog musher in Alaska. When he decided to do freelance work, he charged $300 for his first WordPress website. He’s experienced every part of the WordPress journey — from pricing to roles. 
Eventually, he merged his company with codeBox and his passion for learning with Thomas Patrick Levy’s coding skills lead to the intentional creation of their own LMS product, which didn’t exist in WordPress’ plugin directory at the time.
He tells his story in-depth in the Work From the Inside Out podcast.
They used their high-end projects to fund the development of LifterLMS which took two years to break even and three years before no longer “having difficult conversations with their wives,” as Chris put it. 

Product Launch The MVP version of the free LifterLMS was built in 90 days. codeBox always intended to move away from agency work but specialized in high-end clients and course creators. It was a natural, yet intentional shift. Five years later, codeBox no longer provides agency work.
“It’s a process; not an event. I see a product launch as the starting point not the finish line.” Chris Badgett
How Long Does It Take to Become Solvent? It realistically takes two to three years. This is on part for most businesses. Be ready to make hard choices. 
Focus on customer financing with early adopter discounts. LifterLMS had no other source of funding, private or venture capital, other than customer financing and agency work. They were quite literally bootstrapped. 
Chris, as an avid survivalist and minimalist, made hard choices to live far below his means. That was a decision he and his wife made to help the business. It’s also a lifestyle they still believe in.

Balancing Client Work and Product Development Pricing correctly matters. There are only so many billable hours in the day. If a client site has an issue, that is a priority over development time. Most bootstrapped businesses in Open Source don’t have the funds in order to sustain a separate development team.
“Client work always cannibalizes the product.” Chris Badgett Be realistic in your goals and time allotment. Don’t get discouraged.

Why Not Copy An Existing Product? Sure, you can fork another project. GiveWP was forked from E

1 hr 1 min