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Launching & Scaling a Side Project

Launching & Scaling a Side Project

Talk given my Mathias & Michele Hansen at Laracon 2017

Mathias Hansen

July 26, 2017
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  1. Launching & Scaling
    Your Side Project
    From Zero to Six Figures

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  2. Michele Hansen
    Product Development, The Motley Fool
    MBA Candidate, Virginia Tech
    @mjwhansen
    Mathias Hansen
    Software Engineer, VideoBlocks
    @mathiashansen

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  3. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  4. This presentation
    • Just as much product & business as technical
    • Examples from our successes... and failures
    • Tools & motivation!
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  5. Point of View
    SaaS + ! + our experiences
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  6. You are an
    entrepreneur
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  7. Yes, you
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  8. 1. Build something you need
    2. Build it simply
    3. Use your advantages
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  9. 1. Build Something
    You Need
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  10. Now put your hands
    up
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  11. Find something that
    frustrates you !
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  12. "The hard part isn't the
    technology — the number
    one failure of the software
    industry is building the
    wrong product"
    — Amazon engineering manager Jesse Watson
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  13. Solve a problem for yourself
    • You have direct access to the customer - you!
    • You understand the competition
    • You understand key jobs user hires the product for
    • You're aware of different activities user is trying to
    accomplish
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  15. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  16. Example: Geocodio
    We found ourselves in an
    unserved market
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  18. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  19. The secret to keeping
    it going?
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  21. Before you let it consume all of
    your time...
    • Validate your understanding of the problem and
    interpretation of a solution. Talk to friends or people in the
    community
    • If you have a spouse: get their buy-in
    • Think about the bare-minimum legal & financial stuff: LLC,
    tax ID, bank account, etc.
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  22. LAUNCHING: FINANCIAL
    Item Cost
    LLC $100.00
    Tax ID free
    Operating agreement free
    Stripe set-up free
    Bank account free
    Total $100.00
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  23. If you build something that solves a problem for you,
    worst case
    you’re no longer frustrated and you've made yourself more efficient
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  24. Use it as a learning
    experience
    • Play with new technologies
    • Dive into things you haven't done before:
    • Devops
    • Marketing
    • Sales
    • Product
    • Customer service
    • User experience
    • ...
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  25. 2. Build It Simply
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  26. What is your MVP?
    Minimum Viable Product
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  27. LAUNCHING:
    PRODUCT
    Take shortcuts
    • Use off-the-shelf libraries
    • Twitter Bootstrap theme
    • Don't spend hours on a logo
    • ...or on a name
    • Even though it's very tempting
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  28. spark.laravel.com
    * We were not paid to say this
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  30. People are mean
    Don't listen to them
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  31. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  34. Geocodio
    API + Paywall = Done
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  35. LAUNCHING: PRODUCT +
    MARKETING
    January 2014
    • A straightforward API with two endpoints
    • A dashboard to manage:
    • API Keys
    • Billing
    • Simple usage stats
    • Hacker News
    • Google Analytics
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  38. LAUNCHING: ARCHITECTURE
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  39. LAUNCHING:
    INFRASTRUCTURE
    • The bare necessities
    • Don't build for success
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  40. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  41. SCALING:
    INFRASTRUCTURE
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  42. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  43. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  44. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  45. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  46. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  47. Launching geocod.io
    Item Cost
    Domain name $49.00
    SSL Certificate $15.00
    Hosting $10.00
    Total $74.00
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  48. You can only charge
    as much as the market
    can absorb
    so build as
    economically as you
    can
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  50. Pricing
    is hard.
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  51. LAUNCHING: PRICING
    • Competition
    • What can customers pay?
    • How do they want to pay?
    • Your costs
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  52. Price is a signal to users
    and is just as important as features
    and low price is not always the best
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  53. SCALING: PRICING
    • Corporate customers are way more reliable
    • More customers, more jobs = more variations of pricing &
    billing
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  54. Example:
    Geocodio Unlimited
    $750/month
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  55. SCALING: The biz
    side
    • Taxes
    • Legal stuff (liability insurance, will,
    etc)
    • Start drawing money
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  57. Scaling features
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  58. "You should only consider
    features if they're willing to
    stand on the porch for
    three days waiting to be let
    in"
    — Getting Real, 37 Signals
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  59. SCALING: PRODUCT
    & MARKETING
    • Add features after they've stood on
    the porch
    • Customer support tool, UX,
    engagement email
    • SEO
    • Targeted ads
    • Listen to customers for their jobs
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  60. CRASH COURSE: Jobs to Be Done
    • A person hires a product to get a job done
    • Functional, emotional, social, cognitive, sensory
    • Know what to build & how to frame
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  61. "Customers are always beautifully, wonderfully
    dissatisfied, even when they report being
    happy and business is great. Even when they
    don’t yet know it, customers want something
    better, and your desire to delight customers
    will drive you to invent on their behalf. No
    customer ever asked Amazon to create the
    Prime membership program, but it sure turns
    out they wanted it."
    — Jeff Bezos
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  63. Features != !
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  64. Distribution is
    important
    and a good product won’t just sell itself
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  65. Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  66. View Slide

  67. 3. Use Your Advantages

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  68. You have no overhead
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  70. @DesTraynor
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  71. When do you go full time?
    full disclosure: we haven't
    1. Revenue/Salary
    2. Competitive advantage of your product
    3. How much do you love the problem
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  72. You're plugged into the
    community
    • Plenty of free ways to get the word out: StackOverflow,
    Quora, Twitter, Hacker News, etc
    • Your friends are your beta testers
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  73. Customer support
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  74. Anything can be an advantage
    • Subject matter expertise -- or lack thereof
    • Full-time job
    • Having kids
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  75. In summation
    • Build something you need
    • Build it simply
    • Use your advantages
    • What to think about before going full time
    • All of the practical stuff
    Launching & Scaling Your Side Project | @mjwhansen | @mathiashansen

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  76. Questions?
    @mjwhansen
    @mathiashansen

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