Nothing gives indie founders a better quality of life than recurring revenue. 🥰
The only thing that compares is a one-time sale product (course, book, downloadable software) that does massive revenue when it launches, and then consistent sales in the years that follow.

(Without needing a lot of re-launching, complex sales funnels, or CPC ads)
The risk with one-time sales is you can have a reasonable launch ($10k - $30k) but then have it peter out.

Then, it's like squeezing juice from a squeezed lemon. 🍋

But, if you get a really good launch ($100k - $500k) you have the margin to figure out how to make it sustainable
I'm still slightly bearish on MRR that's connected to info-products (newsletters, memberships, etc).

That MRR seems much more fragile, and not as reliable as what you get with SaaS.

I could be wrong (we might be in a new era of Substack newsletters that have amazing retention).
One info-product sector that I'm extremely bullish on is anything related to software developers improving their technical skills/abilities.

Launch after launch, that niche is showing incredible revenue numbers (especially if you become an influencer on a topic).
We're also seeing the power of building popular open-source frameworks and then offering paid SaaS/utilities/content on top of that.

- @laravelphp (mature + growing)
- @tailwindcss (growth/traction phase)
- @flybayer's Blitz.js (developing)

(If I could) I'd invest $$$ in all 3.
💯 The “it helps me sleep at night” factor is huge.

When I was doing one-time sales, I was always anxiously thinking about the next launch.

Once we hit “default alive” with @TransistorFM, my stress went down considerably.

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More from @mijustin

30 Nov
The best way to have more time is to leave more space on your calendar.
The best way to be less busy is to commit to doing fewer things.
The best way to reduce your stress is to have fewer obligations.
Read 7 tweets
26 Nov
While reading @chriscoyier's blog, I had a thought about "value-based pricing."

Many products provide enormous value (like felt pads for your chairs) but aren't priced accordingly.

Why?

Because (ultimately) it's customers who ascribe a value to your product. They decide.
Often, founders try to impose a price based on how much value *they* think their product provides.

(Much of the "value-based pricing" movement was focused on creators "charging what they're worth.")

But that's backward.

Ultimately, it's "what is the customer willing to pay?"
"The price of a thing" is determined by a variety of factors, including:

- costs
- supply
- demand
- branding
- competition
- gatekeepers
- govt regulation
- perceived value by customer
Read 7 tweets
25 Nov
If being productive =
- having to wake up at 4am
- filling every block in my calendar
- feeling like I'm "go go go" all the time

... then I don't want to be productive.
In the past, I've had phases where I wanted every section of my calendar blocked off.

But these days, I want my calendar to look like this.

BREATHING ROOM.
The only productivity advice that's consistently worked for me is:

"Don't do so much."

✅ Fewer projects
✅ Fewer meetings
✅ Fewer commitments
✅ Fewer things to maintain
Read 5 tweets
20 Oct
On Sep 12, 2012, @kylefox sent me a DM that changed my life forever.

It resulted in me changing my career, earning more money, meeting most of my current friends, growing an audience online, and (ultimately) building @TransistorFM.

Kyle asked if I wanted to start a podcast. "Do you want to start a podcast?"
I should mention: Kyle and I had only hung out a few times in-person.

I'd recently moved away from Edmonton, and hadn't talked to him in a few months.

If he hadn't taken the initiative to reach out, my life might have turned out a lot different! 😜
Initially, we thought it'd be a podcast about Product Management (we were both PMs at the time).

But, it quickly became clear that we were both interested in building and launching our own products.

(This was the 🌱 of things to come)
Read 8 tweets
17 Aug
When you’re in a strong market, and it’s a good fit for you as a founder, finding good distribution channels shouldn’t be a mystery.

If you know something about the market, you should have a pretty good idea on how you’ll reach people!
I get questions like this all the time: “What are the best marketing channels I can use to reach my market?”

How should I know!? It’s *your* market. You should be the expert! (That’s the point).

What works in my market likely won’t work for you.
If don’t have any ideas on how you’re going to reach people, that’s a bad sign. (You probably don’t belong in that market)

What kinds of tweets do they like?
What podcasts do they listen to?
What search terms do they use?
What newsletters do they read?
What events do they go to?
Read 8 tweets
31 Jul
The biggest problem I see from SaaS who target SMBs is they’re not getting enough trials.

(You'll need more than you think).
Every product category is different, but let's say your plans are $39/month - $99/month, and you ask for a credit card upfront.

We'll assume trial-to-paid conversion is 40% - 60%.

You'll want at least 200-300 trials per month. (More if you have lower-priced plans).
I realize there are lots of other variables:
- # of founders and employees you have
- what you want out of the business
- cost to acquire a customer
- churn %, and LTV

But generally:

If you're bootstrapping SaaS, you're likely going to need hundreds of trials per month.
Read 8 tweets

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