#307 - What I wish I’d known when I started Indie Hacking
Indie Founder
Starting from Zero
They discuss the experience of starting from scratch due to the Twitter API problem, emphasizing the importance of savings and the challenges of the indie maker lifestyle.
Have you ever wondered how to navigate the world of indie hacking? Well, today I'll be discussing the importance of learning and experimenting in indie hacking, the significance of having a financial runway, and the need to prioritize mental health. We'll also explore the audience-first approach, finding product-market fit, and the importance of time as an indie maker's biggest asset. So, let's dive in and discover the keys to success in the world of indie hacking!
Links
Timestamps
The decision to quit job or side hustle [00:00:12]
Reflecting on the personal decision of whether to quit a job or side hustle while starting a business.
Learning entrepreneurship and time commitment [00:01:37]
The importance of dedicating 100% of time to learning entrepreneurship and building a product from scratch.
The importance of financial stability and mental health [00:04:18]
The recommendation to have at least one year of savings and prioritize mental well-being when starting a business.
The Audience First Approach [00:11:12]
Starting with an audience instead of an idea, understanding their problems, and creating products for your own crowd.
Finding a Problem [00:14:22]
Identifying problems within your own audience, exploring new technologies, and brainstorming solutions.
Product Market Fit [00:20:36]
When your product solves a market problem and people are willing to pay for it, leading to high user traction.
Finding Product-Market Fit [00:21:36]
The speaker discusses the importance of finding a product that immediately gains traction and has enthusiastic users.
Killing Unsuccessful Projects [00:22:35]
The speaker advises to kill a project if it doesn't gain traction after 2-3 months and shares the difficulty of killing a project with existing users.
Maximizing Time as an Indie Maker [00:26:45]
The speaker emphasizes that time is the biggest asset for indie makers and suggests trying multiple projects within a shorter timeframe to increase chances of success.
Launching Your Product [00:31:09]
Tips for doing a big launch on social media or Product Hunt, including ensuring everything is working properly beforehand.
Operational Challenges [00:34:03]
The shift in dynamic and energy once a product becomes mature and the challenges of setting up a company, finding better services, and understanding taxes.
Importance of Co-founders [00:36:14]
The benefits of having a co-founder, including sharing the journey, complementing each other's strengths, and open communication to resolve issues.
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