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From Idea to $5000 a Month in 5 Months

From Idea to $5000 a Month in 5 Months

My MicroConf 2014 talk on growing Baremetrics.

https://baremetrics.io
https://demo.baremetrics.io

Josh Pigford

April 14, 2014
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  1. From Idea to $5000
    a Month in 5 Months
    What I learned building
    baremetrics.io

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  2. Josh Pigford
    @Shpigford

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  3. baremetrics.io

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  4. demo.baremetrics.io

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  5. Brief History

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  6. IDEA
    October 14

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  7. LAUNCHED
    November 14

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  8. Month 1
    TIMELINE
    $0

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  9. Month 2
    TIMELINE
    $1000 + 21

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  10. Month 3
    TIMELINE
    $1650 + 30

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  11. Month 4
    TIMELINE
    $3200 + 64

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  12. Month 5
    TIMELINE
    $5300 + 94

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  13. Month 6
    TIMELINE
    $8300 + 125

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  14. IN 1 YEAR
    SILICON VALLEY
    CRYSTAL BALL
    $4,100,000 + 65,000

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  15. Build what you
    need, not what you
    think others need

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  16. You have a problem.
    Chances are you’re not
    a unicorn.

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  17. Worst case: You
    solved your own
    problem.

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  18. Charge from day
    one

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  19. All those product
    validation tips?

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  20. There is only one
    type of validation.

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  21. Charging money
    shouldn’t be scary.

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  22. Saving someone
    time or money or
    creating value?

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  23. Charge for it.

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  24. Think it’s not ready?
    Chances are, it is.

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  25. Stop trying to
    attain the perfect
    product

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  26. “If you are not embarrassed by
    the first version of your product,
    you’ve launched too late.”
    Reid Hoffman, LinkedIn

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  27. First version of
    Baremetrics?
    • Half the metrics
    • Forced stats in to calendar months
    • No deep-diving in to data
    • Updated once per day

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  28. First $2,000 of MRR
    came from that

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  29. Bought time to learn the
    intricacies of the
    problem I was solving

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  30. 2 months after launch:
    Rebuilt from scratch
    Result: Doubled MRR

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  31. Ship fast
    Ship frequently

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  32. 8 days of design &
    development

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  33. Spread across 30 days of
    juggling clients, 2 other SaaS
    products and international
    travel for 10 days

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  34. Ship it fast: you
    have no excuse.

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  35. After you ship it fast,
    keep shipping it fast

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  36. Shoot for small
    pieces of larger
    features

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  37. Price for the
    customers you
    want

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  38. $9 customer is an
    entirely different
    customer than $99

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  39. Focus on customers
    that aren’t price
    conscious

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  40. General Rule
    If the businesses you target
    don’t charge much money,
    don’t expect to make much
    money from them.

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  41. 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

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  42. shpig.me/ideato5k

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