New startup does $150K in 12 months but still doesn’t have a landing page 🤔

Listened to Jeremy Thiessen explaining how and why, on the Sales for Founders podcast

3 takeaways...

Candid and potentially controversial series of tweets coming up... (I hear twitter is good for that sort of thing 😅) read 👇🏻

Here’s what it feels like to launch something to the indie maker community:

Launching a free, open source tool:
“This is awesome! You’re awesome!”

Launching a commercial tool:
“TWO DOLLARS? You are literally Hitler”

I’m exaggerating for comedic effect of course. But there’s a lesson here...

I knew before I started working on Promomatic to be very wary of building a utility tool for makers. Makers are by definition problem solvers and their favorite hobby is finding a better / faster / cheaper way to do what your product does.

It’s so tempting to build things for makers because they seem accessible (thanks to PH, IH, Reddit etc) and you get an immediate feedback loop.

1/ Pro Tip: Best way to find a job at a startup…

Hint: it doesn’t start with a job board…

a thread

2/ Go to @crunchbase and set up a filter for the following:

1. Amount raised: $5M - $10M
2. Announced on: today - 3 days ago
3. Headquarters location: your preference
4. Investor Name: @Accel, @Greycroftvc, @Sequoia, @a16z etc...

It should look something like this.

3/ When a company raises money… they are going to use the capital to build out their team.

It isn’t rocket science!

4/ When successful venture firms with track records like, @Accel, @Greycroftvc, @Sequoia, @a16z sink money into a startup. Their chance of success increases astronomically.

5/ Filtering for recent fundraising allows you to get a pulse for when a company is going to add positions to their job board (if they haven’t already)

1/ Today I prepared for talking about common mistakes startups make (founding -> growth stages) by writing it in tweet form. I ramble too much when public speaking and hoped it would make the core ideas clearer in my mind and more concise. Think it worked. Here are the tweets

2/ Earliest mistake is picking the wrong co-founders. You have to be value-aligned (don’t have conflicting personal goals) and respect each other. With both of these, any other differences are irrelevant - can be worked out. Without them everything else you do is irrelevant.

3/ If you launch, next mistake is chasing top-line vanity metrics (sign ups) instead of growing the number of users who *really* love you. @paultoo advice - better to have 10 users who depend on you than 100 who a lukewarm. This requires patience and killing your ego.

4/ If you raise a seed round, it’s tempting to ignore retention. With money, there are always ways to grow top-line (buy ads, launch a new location). Strong fundraisers can do this for multiple rounds (though investors are more savvy to this now). Eventually, the bottom falls out

5/ Once you’re growing without churn, you find you have a diverse set of customers and can’t make them all happy -it’s easy to fail trying. Commit to a long term strategy for going public and build for the users who get you there, even if you lose the others. You have to focus.

How to create a successful SaaS from scratch.

Steal the process I've used to build 5 $10k+ MRR SaaS's.

🧵 THREAD 🧵

#1 Find a problem

Problems are everywhere.

Everyone has one:

>> Agency Owners
>> Coaches
>> Freelancers

All you have to do is Investigate, ask Qs and deep dive into a niche.

Then find a painful problem that people wouldn't mind paying money to get rid of.

#2 Find an existing solution

This one is the easiest part of the process.

Here's what to do instead:

Go to Google and search for "[Problem] + software".

Compare the available solutions.

Pick the best one.

#3 Reverse engineer how it works

Break down the solution in it's core components.

Most SaaS are structured this way:

>> Database
>> Back-end
>> API
>> Front-end

This is easier if you already know programming.

But if you don't, you can pay someone to break it down for you.

#4 Make it better

Think of ways to make it better.

See what the current solution is lacking and fix it:

>> Is it too slow? Make it faster
>> Is it too ambiguous? Make it simpler
>> Does it lack features? Add them

The thing is to add VALUE to your solution.