It's been a little while since I gave an update on Patchesoft. We have since released two new products, Live Chat and Envato Affiliate Referral, both which had development challenges that made me learn quite a lot and has helped me decide on future products.
Overall, 2014 was a very successful year for us; we started out with 0 products and ended with 6. We had over 600 Sales and generated over $18,000 in total revenue. Since Envato isn't our main source of income, having this income has been great in helping us build for the future. One day we hope to work on Envato full-time, but we aren't quite at that level yet. We supplement our income with freelance gigs and we are very fortunate at the moment to have some very dedicated clients to us.
Moving forward into 2015, I want to get our Products up to 12 (so 6 new ones). I also want to dip my toes into ThemeForest world again, probably with something less time-consuming than a WordPress theme like a PSD. Since ThemeForest can be one of the most profitable markets, we want to see if we can find any success. The last time we tried was when we developed a WordPress theme from scratch with very little knowledge of the market and how WordPress themes work, which resulted in 6 months of learning material and scrapping it all together. In the end, the theme was rejected (with good reason- it wasn't great at all!) but the time invested in the project was a huge failure since we didn't earn anything from it. That being said, we did learn an awful lot and even more so over the past year when developing products for CodeCanyon. But I think the process of creating the PSD, then the HTML version and then a WP version would be much better than diving straight in. If we get anywhere with this, I will make another blog post to update you.
We have a few ideas for new CodeCanyon Products, most of them will be CodeIgniter systems that help support businesses in managing their time. We have started planning our next one, but no development has started just yet. We are currently focusing on improving our existing products by releasing some updates to help make them more useful to our existing customers. We may also do a new WordPress Plugin, this time with a lot more development value to it since our last one was more of a tester.
We are also moving our office (this week!) so it's been quite a hectic process. Once everything has settled down, we hope to get into the swing of things again and produce some quality products. We have learnt tons from our first year on Envato and want to see where the next year will take us.
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