consumer playbook — validating ideas
Jun 6, 2023
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4 min read
If i can start over my indie hacking journey. I would treat my life as i only have 3 months of the runway—and start working backward. This is how I would do it today:
phase 1: look for a signal
• pick a problem you or your community have.
• pick a market that is easy to target, has purchasing power, & growing.
• make your ideas easy to understand in one sentence to spread quickly.
• Idea that is familiar but done differently—most advanced, yet acceptable.
• bet on 1 core feature with 1 user journey, do less really well.
• share the design/landing page with your community first before building it.
• look for signals— a lot of people care/nobody cares.
• if the latter, start over.
define "a lot of people" ?
idk but, for me at least one of these in the first week:
• 10K views or,
• 100 sign up or,
• 10 quality people in a group chat actively engage,
• 1 person asks you to "take my money" instantly.
because it's sad to build something nobody wants and try so hard to grow it.
phase 2: build it fast & grow
• if a lot of people care—then build & launch it in weeks not months.
• I don't subscribe to MVPs anymore, but to focus on doing less really well.
• Focus on 1 core features & 1 user journey, & add novelty if possible.
• Design how you'd grow it before building the product (learn 1, 2, 3)
• Do things that don't scale, talk to your users. (1)
• Find the first 10 people who love your product.
• Invest in one repeatable distribution channel to grow it (endless stream of potential users).
• Try growing 7% weekly growth rate / 15% monthly active users growth rate until the end of 3 months.
phase 3: monetize powers users & grow to 1K MRR
• charge as early as possible.
• look for engagement in meaningful product usage.
• meaningful product usage means the good combination of retention & engagement of your product.
• if you're selling a consumer productivity app, you might aim for weekly retention & multiple daily usage.
• minimum retention for the consumer at least 20% (weekly/monthly depending on the product).
• define what to keep free on your product & what to charge. (1, 2, 3)
• bet on 5% to 20% power users (meaningful usage & retention), then charge.
• if you can reach this point, then congrats!
what's next?
Pick a minimum bar to continue working on your experiments:
hit ramen profitability.
have a consistent weekly growth rate (5 - 7% = good | 10% = exceptionally well).
have meaningful usage & retention (30% - 50% monthly retention) (1, 2).
after 3 months If none of the above is achieved, just move on.
unless you have an unlimited runway, it's up to you to grow it even further.
I know this is an oversimplified version of the actual execution. but that's one of the playbook i'd like to go with.
i wish i do it earlier.