It’s been an interesting ride getting LandlordMax to where it is today. We’ve had many bumps and twists along the way, and we’re still in the thick of things. The good news is that we’re definitely showing revenue growth, even amongst the real estate market downturn in the US (the majority of our customers are from the US). I won’t get into it here, but I think this is good business wise for LandlordMax. Its unfortunate for the people who will lose their investments but I believe it will strengthen the astute real estate investor. In my personal opinion the real estate market downturn will reduce the number of “hobby investors” and lead larger real estate portfolios by professional investors. Whether this is good or bad overall is another question, but I do suspect this will lead to more sales of LandlordMax (our average customer has anywhere between 5-1000 units). In any case, this ia a discussion for another day.
Getting back to LandlordMax, I decided to quickly create a graph of our sales revenues (not profits, just revenues) over the last few years which you can find below. I didn’t have the data for version 1.00 easily accessible and hence it wasn’t included (it was only two months before we released 1.02 anyways). As well, these numbers are approximations. In any case the graph below gives you a ballpark idea of where we stand in terms of revenues.
As you can see we’re definitely growing! Our best revenue for a month in 2004-2005 is now pretty much our worse revenue for a month in most of 2006 (excluding the first two months) and all of 2007.
I also included the major released of LandlordMax along the way, to see what impact they had. Version 1.00 to version 1.02 did have an impact, but again unfortunately I didn’t have easy access to those numbers to display in the graph. Actually if you look at the graph, all new major versions seem to have positively affected our sales revenue except for version 1.08, which didn’t seem to do much either way.
This is an interesting anomaly because if you look at the release notes, we definitely added a lot to the software with version 1.08. My guess is that we didn’t as many new “major” features as we thought, they were probably considered more as enhancements and niceties by our customers: more reports, a Late Fees button, accounting filters, due dates, partial payments, etc. With all the other versions we added at least one major component. For example in version 1.02 we added the concept of landlords, in version 2.12 we added pictures, table sorting, etc. For version 3.11 we added huge performance enhancements, receipts, preferences, etc. For the upcoming version we anticipate (this is not an official list of features, this is what we’re currently working on and hope to have available for the next release if all goes well) adding Quickbooks support, charts for the reports, etc.
All around it’s very exciting to see the sales revenue climb over the years. As you can clearly see from the graph, we’re about to beat our best fiscal year (our fiscal year ends in the fall). To be honest, we’ve already beaten it by 10% as of last month and we still have some months to go! Very exciting times!