- We'll do it live
- Posts
- Only successful founders to this?
Only successful founders to this?
They sell their product. Here's the story on how I screwed up
They sell their product.
In a previous post, I talked about how sales are hard as a tech founder.
In that post, I promised I'd talk about why you should do sales as founder so here I am talking about it.
When I started my first SaaS I thought I could avoid doing sales.
Boy was I wrong.
But before I tell you about this, let me give you some context:
I'm building a SaaS in public, posting progress every day today is day 25.
I'm adding lessons from my mistakes and learning from current events.
I'm live-sharing as I build holding nothing back.
If interested, you can binge-read all the past updates in my newsletter.
Let me first address the elephant in the room: giving your product away for free.
Don't offer your product for free so you don't have to worry about sales.
Trust me I did that. My brilliant plan was:
Offer the product for free, get feedback, and iterate on the product based on the input. Eventually charge my users.
It was a colossal failure.
The main problem was that not charging for my product meant I didn't have any customers. Not having customers meant not having a recurring stream of revenue that could sustain my company.
That inevitably leads to failure.
I'm an engineer, I wasn't comfortable doing sales. that plan was an attempt to stay in my comfort zone while still attempting to make money.
After months of nothing moving and wasting money, I finally understood. I needed to get customers and so I started charging for my product.
By the time something was moving in the right direction I ran out of time and money.
Don't make the same mistake I made.
Here's what I learned from this experience.
Doing sales as a founder is not a chore is probably one of the most powerful weapon you have.
To sell to people you need to know what problem they have and have a solution for their problems. This is the definition of a successful business in a nutshell.
Having a solution for their problems ensures you're building the right thing.
When you're selling a solution to a problem people with that problem will buy it. If they don't you're either:
not articulating the solution well enough for them to understand it
not solving their problem
There is one question you're probably asking yourself right now:
Where the hell am I going to find potential customers?!
I read tons of material and none of that worked for me.
I'm going to tell you what I did and what worked for me.
I tried:
giving my product away for free - didn't work
run ads for my free product - didn't work
building a lead magnet for my product - didn't work
run ads to a paid product I built - didn't work
start building a personal brand and send people to my product(s) - worked but is incredibly slow
reached out to 83 people manually - worked. I got about 12 customers this way
ask my customers for referrals - other people who might enjoy my product. Worked incredibly well, 6 new customers this way
I didn't get enough customers to pay me a salary but two things worked: reaching out to people manually and asking for referrals.
The good old advice "do things that don't scale" was the only thing that worked.
Unfortunately, I was too much of an engineer to understand what that meant.
Hopefully, this post will be eye-opening if you're in a similar situation I was in.
I want to cover one last thing to avoid:
Don't hire a sales team in the beginning.
Do sales yourself.
This will ensure you get first-hand experience on how your customers are seeing your product. Will allow you to set the right direction and solve the right problem.
Getting second-hand knowledge from your sales team will not have the same benefits for you or your company.
Over to you know:
do you do sales yourself as a founder?
what's the hardest thing about sales for you?
have you made similar mistakes to mine?
Progress
Recap
I started a SaaS 2 years ago. I failed at making it take off.
I had a problem: I wasted tons of time and money in creating landing pages that sucked.
To make it worse, I wasted tons of money on ads that would send traffic to terrible landing pages.
I spent an insane amount of time learning about copywriting and buyer psychology and I created landing pages that converted
Unfortunately, it was too late. I ran out of time and money.
I started a consultancy gig with a friend and I wanted to do something to apply all my learnings and failures.
I decided to live to share me build something new in public from scratch
I'm documenting the journey and the actions I'm taking every day. Also adding learning from my experience
I formulated a hypothesis: "People are willing to pay for a product that makes it easy to create high-converting landing pages."
I did a few user interviews to confirm the hypothesis.
After doing enough interviews I had enough confidence to build an MVP.
I shared the initial MVP with a few people and I got positive results.
I'm getting ready to onboard customers now
Latest
After battling with subdomain and auth for a day or so I finally shipped a version of the product where I can create accounts for individual customers
I have created a stripe link for people to pay me, not I need to look for customers
I want to find 1 customer by the end of the week
Celebrations
More and more legends joining the ranks!
The newsletter is steadily growing! 44 subscribers now! 7 more to go for a 50 pushups video!
I lost 1 subscriber from the LinkedIn newsletter. Had to happen sooner or later but I'm sad about it
I've got 198 followers on X. Help me breach the 200 mark!
I cannot thank you all enough for your help and support, you're all legends!
Reply