Mayes: Mind the Product lost all revenue overnight in March 2020
James Mays · The $300 Membership Model That Replaced 5 Conferences · Oct 9, 2020 · at 21:30
James Mays, co-founder of Mind the Product, discusses how early COVID-19 lockdowns decimated the bootstrapped company's in-person events revenue.
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“We were in a position end of February where we had 20 people on the payroll, a year's worth of conferences and workshops panned out. And then March hit. The UK went into lockdown. It became pretty clear that this was going to stretch for a while, at which point delegate confidence, sponsor confidence, the whole lot dried up. Company travel ban started to hit. So our revenue went pretty much to zero overnight. That's quite a shocker when you've got 20 people on the payroll and you're entirely bootstrapped.”
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