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Commercializing Open Source - Victoria Melnikova - NDC Porto 2023
Commercializing open source: lessons learned from Victoria Melnikova's journey, covering monetization strategies, community engagement, and sustaining a successful project through shared values and strong leadership.
- Commercial open source companies can have revenue in the millions of dollars.
- Choose a monetization strategy and start monetizing to sustain the project.
- Be transparent about your journey and intentions to resonate with users.
- Consider having a co-founder with a complementary skillset.
- Your community will share your DNA, so focus on building a strong mission and leadership.
- Documentation is crucial for developer tools.
- It’s okay to have competition, and you can always pivot or change your approach.
- cold outreach to potential users can lead to feedback and growth.
- Money isn’t the only motivator; create a product that solves a real-world problem.
- Engineer, designer, and business skills are essential for a commercial open source project.
- Fundraising can be done through various channels, including VC funds specifically for commercial open source.
- user feedback is crucial in deciding what features to prioritize.
- Avoid being too vague or experimental with your business model.
- Focus on building a strong, sustainable business model rather than just attention.
- Learn from other commercial open source companies and adapt their strategies.
- Set clear goals and boundaries for your project.
- Be willing to experiment and pivot as needed.
- Engage with your community and foster a sense of belonging.
- Monetization can come from various sources, including SaaS, managed cloud, and consulting.
- Create a simple, clear, and friendly onboarding experience.
- Consider partnering with other companies or startups.
- Continuously evaluate your project’s success and adjust your strategy accordingly.
- Don’t underestimate the value of fun and recognizing milestones.