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Here’re 10 lessons I learned after making my first $1K as an Indie Hacker.
During the past 3 years, like many of you, I read many books on building startups; The Lean Startup, The Hard Thing About Hard Things, Zero To One, and the list goes on.
They were all great books; I learned a lot, and they paid off double time. The one misconception I had was that reading translates into learning, and learning translates into better decisions; this was wrong!What I learned is that it launching a successful project needs experience, not knowledge. Practice launching smaller projects. You’ll build experience; experience means better decisions, and that’s what you need to launch successful projects.Less learning, more doing can get you to better results, faster.As I shred in my case study, my tiny email list (1.6K subscribers) was responsible for $438, that’s 36.5% of the revenue, and it costs nothing to send the emails. It’s almost 348% ROI.
If I didn’t share the free templates back in august last year, I wouldn’t have collected these 1.6K emails, and my pre-order launch would have been much harder.My advice is to start early, build a piece of the product, offer it for free (in exchange for email), create a landing page describing your product and why someone should care.Remember, I’m talking about 1.6K emails; imagine what the numbers would look like If I had 20K emails! Build an email list first, then build the product.I purchased a LinkedIn premium plan and sent 15 InMail messages. The results were 7 responses out of 15 InMail messages and 10 responses out of 20 direct messages.
This was important because I needed to collect at least 6 testimonials to add to my landing page, which was worth the time.2 things I want to clarify here:
Yesterday, I noticed that I got a new pre-order (without discount) from the email founder of , was responsible for 781 sales and +$150 in revenue. Since I wasn’t promoting the free templates any other way, that was 47% of the total sales number and 60% of revenue. Without his contribution, I wouldn’t be able to attract customers and build an email list. Thanks, Val!
I’m an affiliate myself for some of the products I use daily, and it helps me and the creators earn more while doing the things we love.One thing I learned is that your relationship with your affiliates should be an absolute win-win. The more they earn, the more you earn, and vice versa. They do (or did) a lot of work, so be generous and discuss a commission to reach a sweet spot. (20% is a good starting point for most affiliates)Because buying ads at the beginning can make you fall into the trap of what Eric Ries called “Success Theater“. It may also result in unclear analytics, leading to bad decisions that can break your marketing plan.
For example, you may buy google ads and completely ignore working on your SEO. In the short term, you attracted some customers from those ads, and that might make you happy, but in the long term, you may lose a lot of customers to your competitor who invested in SEO since day 1.I also learned that not paying for ads to attract customers in the early stages of your launch (or pre-launch) can indicate how valuable your product is. Plus, it can help you, later on, to know where and where exactly you should buy ads. Because accruing your first 25 (or more) customers organically can help you find out what they have in common (cohort).In most cases, the “how” question is straightforward; however, in my case, showed that $418 (that’s 37.2%) came from my landing page, which wasn’t the complete answer. So I still had to figure out how they got to my landing page. (more details in the case study)
If you already know “why” a customer purchased or subscribed to your product, that can be a good thing, but if you don’t, that’s even better!
Because this will give you the chance to build a relationship with your new customers by simply asking them why they purchased your product? It won’t only increase their royalty but also help you improve your product to align with your customers’ expectations and needs.Knowing how and why you get a new customer can require some time and effort from your side. Yes, it can take some time and effort, but eventually, knowing the answers to these questions can save you much time, effort, and even money.One misconception I had was that analytics is a compass, but I learned that it’s also a mirror. For example, I shared how one affiliate was responsible for 47% of my customers. At the same time, Reddit was responsible for only 6%.
You can look at these numbers in two ways:Until I spend 1 day being fully active on Reddit, after 3 days, affiliate was responsible for 34 new customers with a conversion rate of 26.1%. Reddit was responsible for 35 new customers with a conversion rate of 28%.
So, if you were like me, looking at analytics as guidance, sometimes you should look at it as a mirror that shows how you’re doing on different channels separately instead of comparing them to each other.Instead of putting more time and effort into the top 3 converting sources, try to explore new channels because your highest converting customer source may not be even on the list.On that last, I had “Create Gumroad Workflows” it was the 27th on the list! And it was responsible for $152. I’m 100% sure that the could’ve generated +$300 if they were the first thing on my checklist.
So the lesson is, create the system and then start the action. If your system is well planned and running since day 1, all the other work you do can get better results without much effort from your side.Learn more about how I used Gumroad Workflows to get +$152 in sales and keeps going in my .
These were the 10 lessons I learned making my first $1K as an Indie Hacker selling if you’re looking for more details? You will find more in my case study .
I hope you find some of these lessons useful, if you want to discuss more details in the comments, I'll be happy to share more.Previously published at