3 ms·
Some truthful but slightly generic tips in here. The big missing thing always is not so much the "what" but the "how". How do you find good people? How do sell
by tnolet 3y ago
Some truthful but slightly generic tips in here. The big missing thing always is not so much the "what" but the "how".
How do you find good people? How do sell before building? How do you find a good marketer? How do you reach $500k revenue in one year?
There are no easy answers, playbooks etc. here. It all depends on industry, customer profile, market circumstances etc.
Also, without trying to be overly sour, these tips should have a source with them noting the founder's company stage. Tips from folks doing $1M ARR+ tend to be more useful than those from $3000 ARR.
- rockyperezz 3y agototally agree, we got a lot of responses, but had to filter out the ones we found way too generic, deemed an untrustworthy source, or very few unhelpful or repeated advice. Definitely agree that a lot of advice appears "easier said than done" - execution is kind, after all. There was one response that said those at the top don't reveal their secrets/little details.
- sokoloff 3y agoYour last sentence is not wrong, but is subject to an awful lot of inherent selection bias.
- quickthrower2 3y agoDepends. $100k arr low hassle would be preferable to me to $1M but hiring lots of people.
- all2 3y ago100k arr works out to - 8334 per month - 1923 per week - 385 per business day Lat's assume SaaS or similar subscription service. If I sell a subscription product with a few price tiers, say free, 10$/mo, 50$/mo, and 500$/mo (and maybe a hidden tier for corporate customers that amounts to 1000$/mo on average). Let's assume most of my customers are in the free tier, 95%. The remaining 5% are stratified across 10, 50, 500, and 1000 (maybe following an inverse logarithmic curve because people are allergic to spending money -- -ln(x/1000) + 1). The following scale factors apply to each price tier: - 1 x 1000/mo - 2 x 500/mo - 4 x 50/mo - 6 x 10/mo 13 customers gets me to 2260/mo, so I'd need about 4 times that many customers to hit ~8000/mo. This comes to about 50 paying customers to hit 100k arr. And now I need to sort out what I have that 50 people would be willing to pay those various amounts for protracted periods of time. But what do I have that people want to buy? I can sell my time as a developer working on someone else's product and make about 100k arr. I can build a product -- and I assume most folks on this board are here in this camp, that they want to build something and own it. I could sell information products (ugh) or other kinds of information. What else can I do? I'm curious how people with multiple launched products that make money managed to discover their original product. Was it an accident? Copious amounts of market research? Cross-industry experience that allowed them to build for non-engineers?
- quickthrower2 3y agoLooking at a lot of stories that people publish who “build in the open” I think yes people try different things until something sticks but they also often do some talking to prospective customers or some other way to understand the need.