Baremetrics: From Idea to $5000 a Month in 5 Months
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My MicroConf 2014 talk on growing Baremetrics. https://baremetrics.io https://demo.baremetrics.io
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Baremetrics: From Idea to $5000 a Month in 5 Months
- 1. From Idea to $5000 a Month in 5 Months What I learned building baremetrics.io
- 9. Month 2 TIMELINE $1000 + 21
- 10. Month 3 TIMELINE $1650 + 30
- 11. Month 4 TIMELINE $3200 + 64
- 12. Month 5 TIMELINE $5300 + 94
- 13. Month 6 TIMELINE $8300 + 125
- 14. IN 1 YEAR SILICON VALLEY CRYSTAL BALL $4,100,000 + 65,000
- 15. 5Takeaways
- 16. Build what you need, not what you think others need 🔖
- 17. You have a problem. Chances are you’re not a unicorn.
- 18. Worst case: You solved your own problem.
- 20. All those product validation tips?
- 21. Bogus.
- 22. There is only one type of validation.
- 23. Money.
- 24. Charging money shouldn’t be scary.
- 25. Saving someone time or money or creating value?
- 26. Charge for it.
- 27. Think it’s not ready? Chances are, it is.
- 28. Stop trying to attain the perfect product 🔖
- 29. “If you are not embarrassed by the first version of your product, you’ve launched too late.” Reid Hoffman, LinkedIn
- 30. First version of Baremetrics? • Half the metrics • Forced stats in to calendar months • No deep-diving in to data • Updated once per day
- 31. First $2,000 of MRR came from that
- 32. Bought time to learn the intricacies of the problem I was solving
- 33. 2 months after launch: Rebuilt from scratch Result: Doubled MRR
- 35. 8 days of design & development
- 36. Spread across 30 days of juggling clients, 2 other SaaS products and international travel for 10 days
- 37. Ship it fast: you have no excuse.
- 38. After you ship it fast, keep shipping it fast
- 39. Shoot for small pieces of larger features
- 40. Price for the customers you want 🔖
- 41. $9 customer is an entirely different customer than $99
- 42. Focus on customers that aren’t price conscious
- 43. General Rule If the businesses you target don’t charge much money, don’t expect to make much money from them.
- 44. 1. Build what you need 2. Charge from day one 3. Stop trying to attain perfection 4. Ship fast & frequently 5. Price for customers you want