From Idea to $5000 a Month in 5 Months

Transcript

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. 5
    Takeaways
    

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

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

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18. Worst case: You
    solved your own
    problem.
    

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19. Charge from day
    one
    
    

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20. All those product
    validation tips?
    

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21. Bogus.
    

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22. There is only one
    type of validation.
    

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23. Money.
    

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24. Charging money
    shouldn’t be scary.
    

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25. Saving someone
    time or money or
    creating value?
    

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26. Charge for it.
    

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

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28. Stop trying to
    attain the perfect
    product
    
    

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

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30. 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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31. First $2,000 of MRR
    came from that
    

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

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33. 2 months after launch:
    Rebuilt from scratch
    Result: Doubled MRR
    

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34. Ship fast
    Ship frequently
    
    

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35. 8 days of design &
    development
    

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

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37. Ship it fast: you
    have no excuse.
    

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

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39. Shoot for small
    pieces of larger
    features
    

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40. Price for the
    customers you
    want
    
    

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41. $9 customer is an
    entirely different
    customer than $99
    

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42. Focus on customers
    that aren’t price
    conscious
    

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43. 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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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
    

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45. Josh Pigford
    @Shpigford
    [email protected]
    

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46. shpig.me/ideato5k
    

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