It all begins here. Today I'm announcing my next move. Follow my progress in real-time towards $100,000 ARR!
Today I'm shutting down my previous startup and starting a new venture.
My previous startup had coasted along on no revenue for months. During that time I was fueled by a dangerous combo of a will to succeed and an unwillingness to admit I was wrong… thankfully, saner heads prevailed after 4 months of near-zero growth and I decided to close that chapter of my startup life!
I've learned a lot from building 7 startups in 7 months and I'm determined to make a living as a bootstrapped entrepreneur, so I'm starting over and trying again. But this time, I'll apply some of the top learnings / lessons from the previous year.
Here are the 3 things I'm going to do differently with Mojosaas:
1. Be fully open with revenue / usage metrics
I think this will add a huge amount of accountability. Previously when my metrics were private, it was easy to shrug off questions about growth, stick my head in the sand and mumble something about finding product-market fit.
Now that everything is open, I have nothing to hide behind and no excuses to make. I think this will give me an extra push to keep growing the metrics, or to pivot faster when something clearly isn't working.
2. Have a clear goal
When I was doing the 12 month 12 startups challenge, the goal was simply to ship. I think that's a good starting point, but at some point you have to call time and ask yourself what this is all in aid of. For me, I want to build something into a sustainable business - so I'm setting a revenue target of $100,000 ARR.
3. Think niche / narrow
I think the scope went a bit too broad in my last startup attempt and I was getting into a sort of "funded" startup territory where the problem was somewhat undefined and new. I don't think this is good territory for an indiehacker like me, so I need to realign myself to more niche problems.
Ideally, ones that people already know they have, and are already looking for a solution. Again, it sounds really obvious… but for some reason I got a bit carried away so it's good to step back and say "I should be working on solving smaller, clearer problems".
I'll be launching the first Mojosaas product on October 1st! Subscribe below to keep track of my progress towards $100,000 ARR 😊