With over $84 million in lifetime sales, @ConvertKit is my biggest product success—but it's far from my first product.
It's easy to share wins, but building in public means sharing the full journey. So here are the 10 products I created before hitting it big with ConvertKit:
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1. Shoestring — A budget web hosting company using WordPress multi-user to easily setup websites for people on a shoestring budget. I didn't get any customers, but I learned a lot about WordPress.
Revenue: $0
Shop208 — A local social network for the Boise area with business profiles, the ability to follow a business, write reviews, read updates, etc. Built on WordPress & BuddyPress. It got about 200 users, but no meaningful revenue. Marketplaces are hard!
Revenue: $0
3. OneMotion — A web app for sign language interpreting agencies. I was hired to build a custom app for $10k, the client got all the rights for their business, I retained the rights to sell to other agencies. I only ever got 1 other client.
Revenue: $300/month
4. Legend Themes — I took my WP knowledge and started building themes to sell. I wanted to build a similar business to OGs like @bgardner & @adii. I sold two themes, struggled to get traction, and decided that the space was oversaturated (a ridiculous idea in 2009).
Revenue: $70
5. OneVoice — My first iOS app, OneVoice was built for kids with non-verbal autism. I started it at a hackathon at the PayPal offices in San Jose, then finished it over the next few months. It was my first real product success!
Revenue: $50,000+ (over 4 years)
6. Fluent — Eager to continue learning iOS development I built a delayed repetition flashcards app called Fluent. It never really got traction, but I got a lot better at programming.
Revenue: $75
7. Commit — As I was getting into writing I made a habit tracking app called Commit. It was the tool I used to stay on track to build a writing streak of over 600 days in a row. I marketed the app and got good coverage in Lifehacker and other publications.
Revenue: $20,000+
8. iOS Design Weekly — My very first email newsletter (inspired by Dave Verwer's iOS Dev Weekly). It never made money, but I grew it to just over 1,000 subscribers before pivoting to focus on books.
Revenue: $0
9. The App Design Handbook — This is the product that really put me on the map. Through writing, publishing, and launching I learned a ton and found a replicable process for earning a living as a creator. Then sharing my journey publicly built a following.
Revenue: $90,000+
10. Designing Web Applications — I immediately turned what I learned from my first book into writing a second. The launch was twice as big and the book continued to sell well.
Revenue: $200,000+
11. ConvertKit — There it is! My 11th product ended up being the one that turned into a product used by hundreds of thousands of creators and sending billions of emails per month.
Here's a screenshot of an early homepage.
Revenue: $84 million
Even being my 11th product ConvertKit didn't take off right away. It took two years before we crossed $2,000 in MRR.
I kept making products (Authority, Photoshop for Web Design, etc) to pay the bills and finance development while slowly working to get traction.
It's okay if your first product flops. Earning a living online is a combination of a thousand little skills that take time to learn.
The only thing you can control is to create every day for a long time. Stay consistent, keep learning, and you'll eventually win.
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I'm fascinated by companies that have used leverage to achieve incredible scale in a very efficient way.
From dating apps to online games here are 8 companies that hit a massive success with surprisingly small teams:
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1. The two founders of Streamyard bootstrapped to $12M in ARR without any employees. They reached $30M ARR with 19 employees before selling to Hopin for $250 million.
2. The popular game Among Us reached 500 million active users with only 4 employees.
For anyone thinking of investing in @Gumroad today you should know one thing:
The team that originally built Gumroad doesn't have equity.
They all lost it when Sahil tanked the company. You can't claim to be creator focused and not actually take care of creators.
I keep getting DMs to ask if I recommend investing in this round. Even though I was a huge fan of Gumroad for years (I sold $500k+ on the platform), I can't recommend it.
Creators got screwed when support disappeared & product dev stopped. Don't trust a founder who would do that
Gumroad's history:
1. Raise $10m. Build software, hire a team, get traction. 2. Mismanage it, team quits / laid off. 3. Tell investors it failed, get $8m written off. Ensure team gets 0 equity. 4. Restart company, focus on growth. 5. Wait 4 years, raise more $$.
Everyone wants to calculate a free to paid newsletter conversion rate by [total paid subscribers] / [total free subscribers]. While the math is correct, you have to account for conversions over time.
A free audience doesn't convert to paid all in one go.
You're really tracking the current free vs paid *ratio* for your list.
A conversion rate should be based on a cohort or a campaign. For example: "My automated upgrade pitch email sequence has a 7% conversion rate."
Or: "The Cyber Monday campaign had a 5% conversion rate."
@benedictevans *currently* has a 1.5% free to paid conversion ratio, but the paid newsletter has only been around for 5 months. Over time his conversion ratio will increase as he promotes the paid offering more.
In 2010 Emily Weiss, a fashion assistant at Vogue, started her own fashion blog. She bought a camera, domain, & 2 months later the site was live. Into the Gloss showcased the real-world beauty routines of fashion influencers & celebrities.
10 years later, what do you think the site is worth? Millions? 10s of millions?
While that would be an insane success for a blog, it’s not even close to the correct answer of $1.2 billion. She turned it into the beauty brand Glossier.
Billion dollar blogs aren't rare. A thread:
I'm on that journey with @ConvertKit. I started with earning a living from a blog on marketing & design. Then I used that audience to launch a SaaS company now earning $24M/yr.
It will take years, but we're on a path to create $1B in company value.
Last fall I bought a 4-plex in Nampa (a suburb of Boise) to turn into an airbnb with the help of 2 friends.
Each unit is ~900 sq ft (2 bed, 1.5 bath). Purchase price: $339,000. We had to pay cash because it was in such poor condition.
Here's a thread about how it all went:
2 units were poorly remodeled, 2 units had serious issues including water damage & needed to be taken down to studs.
We estimated $130k in remodeling expenses with Patrick (one of the partners) doing the construction work. But quickly went over as HVAC was far more expensive.
We replaced all the windows, doors, siding, roof, plumbing, flooring, etc. Work started in October and by mid-December we had the first unit ready for Airbnb.
Winter is always slow here, but we still made $764 over the holidays as we picked up the first couple reviews.
3 months ago 74 million kids in the US got a taste of homeschooling. Pundits debated pros & cons, parents rushed to adjust to a new normal, & many asked what the long-term change would be.
I believe homeschooling played a huge role in my ability to build a $100 million company.
Here are the specifics I learned:
1) The class moves at the pace of the slowest student: you
Class always moved at my pace. Sometimes that was breezing through subjects, other times the pace was really slow for subjects I just wasn’t getting it (chemistry).
So I stayed engaged
2) My parents gave me the upside
When there was perfect snow outside I could go out and play as soon as my work was done. Focused work was rewarded with an early play time.
Normal classes give students all the downside (homework, penalties, etc) and none of the upside.