I have bootstrapped my startup to $2 million+ revenue in 4 years.
Being an engineer, my natural instinct initially was to build a product the moment I had an idea.
But I was SO WRONG.
As a startup founder, your focus should be to build a business and not fancy tech.
(1/5)
Build tech to solve a business problem
• Identify the core business problem
• Aim to solve this problem & use tech as a facilitator
(2/5)
Build tech smartly and efficiently
• Don't always build from scratch
• Use existing tools & products
• Use no-code tools wherever possible
(3/5)
My experience building $2 million ARR business
Initially
• Built robust matching engine for freelancers & clients
• VCs wanted to see our fancy recommendation engine
• No focus on successful client engagements
Result
• Unfulfilled projects
• Unhappy clients
(4/5)
Building a product is expensive - it takes time, effort & skill.
So unless there's an actual business outcome attached, you must refrain from building anything new.
Building new things is exciting but it's a rather wasted effort if you're not solving a business problem.
(5/5)
That's it for the thread!
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10 lessons I have learned working 5 years in marketing as a tech startup founder. 🧵
Start building an audience before you even think of building a product.
You don't need to quit your job for this. You can build audience on the side.
- Publish blogs.
- Start a newsletter.
- Write on social media.
(1/10)
Successful launch requires months of preparation.
Launch days are also very stressful. Prepare a thorough plan & timeline beforehand so that you don't have to think about what to do & when on actual day of launch.