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Today, that person co-hosted a webinar with me that had over 470+ registered and 130+ live
👇 Quick lesson on how to successfully pitch partnerships and co-marketing opportunities
How did he get in contact with me?
He sent a cold email, but not just any email. It was clearly personal, relevant, and conversational.
Lesson: Notice the language he used and how he tied it back to previous webinars.
Not only was it well written, but I could also easily judge if he'd be a good fit based on the article he wrote and linked to.
It's SUPER well-written and proved that he knew what he was talking about.
Lesson: Make your "ask" as easy as possible to consider.
There were three things that made the webinar a big success:
1. Tyler sent the webinar to his email list and did a lot of promotion.
2. He prepared ahead of time and put a lot of work into the deck, even incorporating some Baremetrics assets and references.
3. He had fun
Super appreciate all the work @TylerHakes put into today's "SEO for SaaS"
If you missed it, here's the recording:
If your startup is real, pitching Sand Hill is sometimes like giving away copies of your treasure map
This advice is seldom given because most of the time and for most founders, you are still better off talking about your idea as much as possible to better understand where the dead ends are in the idea maze. Can’t do that in isolation.
Asking investors what is hot is usually less useful than asking what has worked, and what didn’t work and why? That’s how you can skip ahead and avoid death.
“All I want to know is where I’m going to die so I’ll never go there.” —Munger
If we are missing any or you want to help improve the data you can edit the topics.
2/ Here is the direct public query if you want to check it out:
[Note: no off the record cos are in here unless they have been publicly launched already]
3/ Also, here are 2,000+ other YC companies we have generated information
4/ We used the Golden Research Engine to generate this information, which you can find out more about here and ping me if you want a
Today, I’m at the local fair.
There are hundreds of vendors.
But there are also huge crowds who are hot and thirsty; lots of demand for cold drinks!
Go where the crowds are!
Again, this is just a metaphor!
But it’s a good reminder:
🍋 If you have a lemonade stand, it’s better to go somewhere hot, where there are a lot of thirsty people.
💻 If you want to make software, it’s better to go where there are a bunch of potential customers.
BTW - targeting a good market doesn’t mean you’ll automatically win!
There are a TON of factors that influence a business’ success (or failure).
But choosing a market that has a lot of demand (and good channels) is essential for future success.
In business, nothing is guaranteed.
You might be in a good market today, but tomorrow it could fall apart.
Markets are fickle.
Some days they want 🍦, other days they want 🥤.
The economy can go up, or it can crash.
A good competitor can come in and grab market share.
But this reinforces the point:
“Business is already hard, why make it harder?” – @asmartbear
Why try to enter a niche where there’s no demonstrable demand?
Why try to serve a total addressable market of 500, when you could go after 500,000 potential customers?
Peter Thiel spends 6 months writing down everything he knows about business. His book sells for $10.
Adam Wathan and Steve Schoger spend 6 months writing down everything they know about design. Their “book” sells for $79.
Believe it or not, both prices make perfect sense.
Thiel is selling to the masses and the masses are sensitive to price changes (price elastic).
If he raises the price to $30 they wouldn’t think twice before substituting his book for one of the many cheaper alternatives on Amazon.
Adam and Steve are selling to hardcore fans and hardcore fans are insensitive to price changes (price inelastic).
They've all been following the Twitter tips, watching the screencasts, reading the Medium posts.
In their minds, there are no substitute resources available.
When demand for your good is inelastic, you raise your price.
In the case of Adam and Steve, all the way up to $79.
As the diagram shows, a 8x price increase ($10 to $79) results in just a 2x drop in books sold (20k to 10k) and 4x more revenue (area of the rectangles).
MRR: $13475.49 (+6.90%)
Organic: 4633 (+7.47%)
Trials: 237 (+21.54%)
New Customers: 146 (+5.0%)
If you're just getting started Indie-hacking, this thread is for you.
I'll tell you how to get here.
The market you chose is the most important facet of your Indiehacker journey. It doesn't have to be the best market, it just has to be right for the thing you want to build.
Pick a market that is growing, has needs that are paid for, and has demand for your product.
Start with your MVP and iterate slowly and intentionally. Introduce features at a good clip, but don't sacrifice quality.
Do your testing. Ship excellence. Write your documentation. Design with the user in mind.
Your customers will trust you.
It's true, ideas are worth nothing. Execution is all that matters.
However, your product idea(s) should solve problems.
It should make your customers more money, save them time, or both.
Make things that give them more of what they care about.
It has taken me 3 years to learn the skills I needed to make this product (business). And another 1.5 years to get the product to the revenue it's at now.
This is a long-term game. Build valuable skills. Put your head down and execute.
We have a culture problem, and it's starting to bite back.
Our launch-and-dump culture on @ProductHunt is harmful, and it's hurting our goals as a community.
Let's get started with a bit of backstory...
I was told today about an event that shed light on a recent change to the PH ranking algorithm
A maker on Ramadan Makers launched a product, reached a decent amount of upvotes. They never made it to the homepage.
Quite frankly, this is fine. We really don't expect ALL maker products to reach the homepage, considering PH should probably have a quality bar.
However, looking at the homepage just showed a different picture: products from bigger companies with only 12 upvotes, featured.
This is a problem: it is probably now a little harder for indie or products from creators to get featured on the homepage, which sadly is a huge problem for most rising and new makers on the scene right now.
But there's a bigger problem, and it's a culture one.
Makers nowadays have a very harmful culture when it comes to launching on Product Hunt.
This is the usual product lifecycle nowadays:
1. Launch on PH, Twitter
2. Gain attention and "internet points"
This causes issues.
Last week I launched Marketing Examples to Product Hunt.
✔️ 1,500+ upvotes
✔️ Product of the Week
✔️ Email list grew from 1,300 to 3,300
This is the step by step account of how I did it
Step 1 - Don't launch straight away
23rd May 2019 Marketing Examples v1.0 went live. The site had a few case studies, several bugs, and an email box which didn’t convert well.
The old version of me would have thrown it on Product Hunt straight away. But I decided to wait.
1) I didn’t want to waste my “turn” with the very first iteration of my site.
2) I didn’t want to launch in a vacuum. Product Hunt multiplies current momentum. Having a small following of “fans” on launch day goes a long way.
So I set myself a target.
✔️ 1000 email subscribers
✔️ 1000 twitter followers
And then I would launch. 70 days later I hit my target.
It was showtime.
I think investors are just hedging their bets on the team
Actively finding a cofounder seems odd and forced to tick a box ✅
If you (potentially) have one, great!
💰Pay amazing folks (contract/FTE/PTE)
One pro is to share the burden with someone who cares as much about the business as you do.
Going looking for a cofounder (whether you’re pressured to or not) seems like a disaster
On a serious note, it's interesting to observe that you can build a decent business charging $20 - $50 per month for something that any good developer can set up. This is one of those micro-saas sweet spots between "easy for me to build" and "tedious for others to build"— Jon Yongfook (@yongfook) September 5, 2019
Every year at MicroConf I get surprised-not-surprised by the number of people I meet who are running "Does one thing reasonably well, ranks well for it, pulls down a full-time dev salary" out of a fun side project which obviates a frequent 1~5 engineer-day sprint horizontally.
"Who is the prototypical client here?"
A consulting shop delivering a $X00k engagement for an internal system, a SaaS company doing something custom for a large client or internally facing or deeply non-core to their business, etc.
(I feel like many of these businesses are good answers to the "how would you monetize OSS to make it sustainable?" fashion, since they often wrap a core OSS offering in the assorted infrastructure which makes it easily consumable.)
"But don't the customers get subscription fatigue?"
I think subscription fatigue is far more reported by people who are embarrassed to charge money for software than it is experienced by for-profit businesses, who don't seem to have gotten pay-biweekly-for-services fatigue.