BC STARTUPS
Saved by @zmbnski

💬 I often get Q’s like these:

How did you get your first customers for WIP? How did you grow BetaList’s traffic? Etc.

Makers are looking to reverse-engineer success. I see it everywhere.

I don’t think it works that way and the answers to those questions are mostly useless. 💥

 I have built dozens of different products over the last couple of years. The vast majority failed. 😭

Surely if I know the answers to these questions, but still fail over and over again, these answers aren’t that useful. 🤷‍♀️

So what’s a better question to ask? 🤔
99.9% of the questions I receive are about the products that did well. In a way that makes sense, because we quickly forget about those that didn’t succeed.

🧠 This is known as survivorship bias.

Focusing on what survived, while ignoring what made it survive in the first place.
The real question, what you really want to know, is this:

What makes @WIP, @BetaList, and to some extent @AllStartupJobs succeed where my countless other attempts failed?

What separates a failed product 👎 from a successful product 👍?
Honestly, I don’t know. I wish I did.

It’s like Steve Jobs said “I’ll know it when I see it.” 👀

Same is true when we make products. We don’t know upfront what will work. But once we see an inkling of a product that does have potential, it’s not that hard to spot.
🚫 The wrong idea requires you to push and push until you’re tired and can’t take it anymore.

👌 The right idea will pull you forwards.
🚫 The wrong product will have you begging people for feedback. You’ll cling to any comment remotely positive. (“Wouldn’t use, but nice idea!”)

👌 The right product will attract people wanting to use it. People will give feedback without you asking for it.
🚫 The wrong product will have you focused on the technology, fine-tuning the design, tweaking the copy.

👌 The right product will give you the confidence to ship something embarrassing, because you know despite all its shortcoming it’s useful.
So keep shipping. Assuming your current product will fail and you need to try a bunch more before you’ve found the metaphorical spaghetti that sticks to the wall. 🍝
This means you need to keep your initial products small. If it takes 10 tries to find something that works, you can’t afford to spend more than month trying out an idea. 💡⏳
Persistence is not about sticking with what doesn’t work. Persistence is continuously experimenting until you’ve found something that goes work. ♻️💪
Happy shipping! 🚢✨

—
Inspired by conversations in 🚧 @WIP

https://t.co/J4IDFyoUgD
Grammar mistakes, stupid ideas, etc courtesy of tweeting at 6am in morning (that’s before I go to sleep, not after waking up). Bye! 😴
Oh, and when I talk about successful products and refer to my own, I mean that in the context of what’s successful for me personally. I prefer speaking from personal experience hence referring to my own products.

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💪 And we're down to the last 48 hours until the biggest live-streamed startup event hosted by @thepatwalls & @shipstreams kicks off!

With this, let's get motivated with some curated readings & posts by fellow #24hrstartup participants & indie makers. Check them out below!

✍️ Andrew Parrish wrote - "Why I'm Participating in the 24 Hour Startup Challenge".

@makersup's takeaway - Makers love possibilities, the joy of building. Any aspiring maker should experience the end of lurking on forums & reading @wip's to-dos.

Read:

👩‍💻 @anthilemoon created a list of @women_make_ members participating in the #24hrstartup challenge. Do let her know if she missed anyone!

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😺 We can't forget one of the key platforms in shipping indie, can we, @ProductHunt?

Check out @ProductHunt's guide to launching at: https://t.co/VB6WgGx6sa.

In addition, it would be wise to prepare for the launch. Fine tune your assets and post at

🚢 Well, we definitely can't leave out the man behind all of this, @thepatwalls!

Launching isn't easy, but know what you'll be facing even before coding. Check out @thepatwalls' "words of shipping" at:
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Jordan O'Connor
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Another month flew by. Here's your @closettools September stats!

MRR: $13475.49 (+6.90%)
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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.

THREAD 🔥👇

Market 💹

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.

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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.

Ideas 💡

It's true, ideas are worth nothing. Execution is all that matters.

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Make things that give them more of what they care about.

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For those of you asking me if I bought my wework equity—I did not. But, not because I didn’t choose to buy it. Despite joining the company very early on, I was not offered options. Here’s a thread about what happened and my feelings about it now. /1

I joined wework in 2011 as the ~17th employee when we had 4 buildings. I was 23, naive, and didn’t know what equity or options were—I certainly didn’t know how much it could impact my financial future. When I, and the first hundred or so joined the team, /2

equity options weren’t a part of the deal and I thought nothing of it. As the company grew and we brought in more funding, the executive team decided it was time to allocate equity to its employees. It was mid-2013, about 4 years after the company started. /3

We had ~120 employees and I had been there for ~2 years. I don’t know much about what went on behind the scenes to determine who would get equity and how much, or quite frankly, why they did it at all. /4

In the process, they did a couple of things: First, the way in which they chose to allocate equity, to whom, how much, etc. was… interesting. I’ll get into that more soon. Second, for the people who were given equity options, wework made the choice *not* to backdate. /5
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I'm doing an AMA on @IndieHackers.

Drop some questions in there! Happy to answer anything, esp around building side projects with a full-time job :)

https://t.co/da4Ael9TnE


My high level plans for Starter Story.


On almost quitting

cc: @daviswbaer


@daviswbaer How I find so many businesses to interview


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Garry()
Garry()
@garrytan
Subtle real advantage nobody talks about: if founders can access deeper pools of capital early/quickly, they can get bigger faster without spawning lots of competitors.

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
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