#173 – Persisting Through Failures to Find a Winning Trend with Dru Riley of Trends.vc
Sep 15, 2020
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Dru Riley, founder of Trends.vc, shares his journey of becoming an indie hacker and how he grew his newsletter from nothing to $20,000/mo in under a year. Topics include finding the right idea, living off savings, product-market fit, social accountability, and building trust for personal and corporate brands.
Perseverance and finding the right fit are crucial for success as an indie hacker.
The format of trends.vc's newsletter, with its concise sections and valuable insights, has contributed to its growing popularity.
Building trust and attention are key in creating a successful brand and launching a product to an established audience increases the chances of success.
Deep dives
Drew Riley's journey from quitting his job to starting trends.vc
Drew Riley spent years after quitting his job working on various projects and building his savings. It took time for him to find the right idea to work on, which eventually led to the creation of trends.vc, a newsletter where he shares the latest trends in tech, business, and startups. The journey highlights the importance of perseverance and finding the right fit for one's skills and interests.
The evolution of trends.vc and its unique format
Trends.vc started with Drew Riley exploring his own curiosity and sharing his insights through a short and concise format. The format has evolved over time to include sections for problem, solution, players, predictions, and opportunities, with a hater section addressing potential objections. The format has proven effective and resonated with readers, leading to its growing popularity.
The monetization of trends.vc and its success
Initially, trends.vc did not have a clear business model, but Drew Riley experimented with offering half of a report for free and the other half at a low price. This model resonated with readers, resulting in a significant increase in subscriptions and revenue. By curating information and providing valuable insights on various industries, trends.vc has become a trusted resource for founders and entrepreneurs.
The challenges and rewards of research and content creation
Research and content creation for trends.vc involve significant time and effort. Researching trends, gathering insights, and curating information requires hours of work. Drew Riley's dedication to creating concise and valuable reports has resulted in a growing subscriber base and a positive reception from readers. The challenges of producing high-quality content are balanced by the rewards of being able to provide valuable insights and help others in their entrepreneurial endeavors.
Building Trust and Attention
Building trust and attention are crucial in building a successful brand. Trust and attention cannot be copied and are viewed as valuable commodities. Trust is scarce and valuable because it cannot be copied. Attention is also valuable as it allows for the delivery of valuable content and insights. Subscription media, such as paid newsletters, have the advantage of having built-in trust and attention from their audience.
Launching an Audience-First Product
The strategy of launching an audience-first product involves building trust with an audience before launching a product. By providing value through content such as blogs, newsletters, or podcasts, an audience can be cultivated. This approach allows for a deeper understanding of the audience's needs and preferences, and helps build goodwill and support. Launching to an established audience creates a foundation of trust and a higher chance of success for the product.
When Dru Riley (@DruRly) quit his job, he was more than ready for his mini retirement. Little did he know that it would take him over three years to make his first dollar as an indie hacker. In this episode, Dru and I discuss the difficulty of finding an idea with product-market-founder fit, the latest trends in new markets for indie hackers, and how he was able to grow his newsletter Trends.vc from nothing to $20,000/mo in under a year.
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