How did we make $100k using GoogleSheets after 2 failed products?
Many asked me this. So, in 14 tweets, I cover Flexiple’s 1st year comprising:
- Product 1 & its failure
- Product 2 & its failure
- What went wrong
- Why/how GoogleSheets worked
Thread👇🏽
Many asked me this. So, in 14 tweets, I cover Flexiple’s 1st year comprising:
- Product 1 & its failure
- Product 2 & its failure
- What went wrong
- Why/how GoogleSheets worked
Thread👇🏽
https://twitter.com/KarthikS2206/status/1363348588093349891
1 of 14/ Premise for Product 1
Our idea was simple: Connecting pre-vetted tech talent with companies.
Like most new entrepreneurs, we wanted to build for scale.
Manual processes just seemed foolish to us, so we decided that building a product was the answer.
Our idea was simple: Connecting pre-vetted tech talent with companies.
Like most new entrepreneurs, we wanted to build for scale.
Manual processes just seemed foolish to us, so we decided that building a product was the answer.
2 of 14/ What was Product 1
The product would:
- Manage the entire onboarding flow of freelancers including tests, evaluations, interview scheduling, etc.
- Allow clients to share their requirements in a predictive fashion (just if-else conditions :P)
(contd.)
The product would:
- Manage the entire onboarding flow of freelancers including tests, evaluations, interview scheduling, etc.
- Allow clients to share their requirements in a predictive fashion (just if-else conditions :P)
(contd.)
3 of 14/ What was Product 1 (contd.)
- Recommendations would be made automatically through an algorithm
- Even contracts & invoicing would be handled by the product
Essentially, we were ready for a million projects before we had handled one.
- Recommendations would be made automatically through an algorithm
- Even contracts & invoicing would be handled by the product
Essentially, we were ready for a million projects before we had handled one.
4 of 14/ Product 1's failure
- The entire user flow had become super complex - even I used to get confused!
- Meanwhile, we’d made changes in our evaluation process & many parts of the product had become redundant.
- Of course, this was beyond the bugs of a nascent product
- The entire user flow had become super complex - even I used to get confused!
- Meanwhile, we’d made changes in our evaluation process & many parts of the product had become redundant.
- Of course, this was beyond the bugs of a nascent product
5 of 14/ Product 1 into the bin
We tried correcting this but realised it was too tough to implement changes on the existing product.
Also, we felt the problem was that we hadn’t got a professional UX designer for Product 1.
Product 1 into the bin.
We tried correcting this but realised it was too tough to implement changes on the existing product.
Also, we felt the problem was that we hadn’t got a professional UX designer for Product 1.
Product 1 into the bin.
6 of 14/ Product 2 begins
Apart from hiring a designer, we agreed we’d tried to overachieve.
So, some features like the reco. algorithm, interview scheduling, etc. were removed. Many others were included though.
You see, preparing for scale was important 😑. Our revenue => $0.
Apart from hiring a designer, we agreed we’d tried to overachieve.
So, some features like the reco. algorithm, interview scheduling, etc. were removed. Many others were included though.
You see, preparing for scale was important 😑. Our revenue => $0.
7 of 14/ Product 2 fails
We made a beautiful product that easy to understand & use.
Aaaand... now, we started reaching out to customers & freelancers.
But, people weren’t using the product at all! Most of our conversations were happening over mail, phone and LinkedIn.
We made a beautiful product that easy to understand & use.
Aaaand... now, we started reaching out to customers & freelancers.
But, people weren’t using the product at all! Most of our conversations were happening over mail, phone and LinkedIn.
8 of 14/ What went wrong?
We’d done our user research while making it, so what happened?
Turns out, they couldn’t care less about our product. Freelancers wanted projects & companies wanted quality talent.
They wanted us to first deliver on that before using our product.
We’d done our user research while making it, so what happened?
Turns out, they couldn’t care less about our product. Freelancers wanted projects & companies wanted quality talent.
They wanted us to first deliver on that before using our product.
9 of 14/ Mistake in our thinking
Most “tech-enabled” startups confuse themselves to be “core-tech” startups.
In the former, tech only enables you to scale but isn’t key to start a business - so, it only makes sense to start it first and to infuse tech later to scale.
(contd.)
Most “tech-enabled” startups confuse themselves to be “core-tech” startups.
In the former, tech only enables you to scale but isn’t key to start a business - so, it only makes sense to start it first and to infuse tech later to scale.
(contd.)
10 of 14/ Mistake (cond.)
Take the examples of Uber, Airbnb, Swiggy/Deliveroo - all are “tech-enabled”.
Yet, if you ask anyone to build an “Uber for X”, the first step they would suggest is building an app.
It is the mistake of thinking tech-first instead of business-first.
Take the examples of Uber, Airbnb, Swiggy/Deliveroo - all are “tech-enabled”.
Yet, if you ask anyone to build an “Uber for X”, the first step they would suggest is building an app.
It is the mistake of thinking tech-first instead of business-first.
11 of 14/ The Flaw
- You don’t know the bottlenecks a product should solve; you try to predict it
- Building a startup is tough & we divert energy into building a product instead of making money first
- We build for scale when we don’t know what it takes to earn the 1st $
- You don’t know the bottlenecks a product should solve; you try to predict it
- Building a startup is tough & we divert energy into building a product instead of making money first
- We build for scale when we don’t know what it takes to earn the 1st $
12 of 14/ Google Sheet
- Finally, we just asked freelancers to fill a simple Google Form
- Evaluation process was coordinated over mail
- Selected candidates & their contact details noted in a Google Sheet
(contd.)
- Finally, we just asked freelancers to fill a simple Google Form
- Evaluation process was coordinated over mail
- Selected candidates & their contact details noted in a Google Sheet
(contd.)
13 of 14/ Google Sheet (contd.)
- Leveraged our personal network through LinkedIn & otherwise to get client leads
- Connected freelancers and clients over mail
- Freelancers documented the project hours in a Google Sheet
- We manually prepared the contract & invoices
- Leveraged our personal network through LinkedIn & otherwise to get client leads
- Connected freelancers and clients over mail
- Freelancers documented the project hours in a Google Sheet
- We manually prepared the contract & invoices
14 of 14/ Continue till we made $100k
We followed this - just 3 co-founders - & made the first $100k in revenue.
We infused tech only when our bandwidth was stretched in some place & have now made $1mn in revenue.
About that, in a different thread - hope you enjoyed this!
We followed this - just 3 co-founders - & made the first $100k in revenue.
We infused tech only when our bandwidth was stretched in some place & have now made $1mn in revenue.
About that, in a different thread - hope you enjoyed this!
I plan to share more of my startup experiences. If you liked this tweet thread, do like & retweet the first tweet :)
https://twitter.com/KarthikS2206/status/1363753880849317888
• • •
Missing some Tweet in this thread? You can try to
force a refresh
