59 minutes 46 seconds
🇬🇧 English
Speaker 1
00:00
But yeah, why did you decide to start doing a podcast after the site was going?
Speaker 2
00:03
People were asking for it. It seemed like a good idea. I mean, the number of people who asked me to do a podcast was so much higher than people who asked for any other feature.
Speaker 2
00:13
And also, I think, a part of the text interviews was that you have to share your revenue. So everyone is completely transparent. And the number of people that I reached out to who I thought would have really good stories for the site that people can learn from, who were willing to share everything but their revenue, was pretty high. And so I kept getting tired of people saying, you know, I'm not going to come on.
Speaker 2
00:31
If I have to share my revenue, you need some other way where I can come on and share my story. So the podcast kind of helped me kill that bird. And also, you know, it appeased people who wanted me to do a podcast. But I was terrified of it because, like I said earlier, like I don't, I'd never done a podcast.
Speaker 1
00:47
Was it, were there people you admired at the time? You're like, oh, I want to make a podcast like X,
Speaker 2
00:51
Y, or Z. No, not at all. I barely listened to podcasts.
Speaker 2
00:53
You weren't
Speaker 1
00:54
even in.
Speaker 2
00:54
Yeah, I mean, I was just like, you know what, I'll try this. I had a very lazy approach to it. I'm not going to do a ton of research.
Speaker 2
01:02
I'm not going to. I'm just going to try talking to people and see how it comes out and have my own style. I think it's worked out. I've gotten better over time.
Speaker 1
01:08
Yeah. Well, what are the skills you've developed, do you think?
Speaker 2
01:12
I think I've gotten a lot better at preparing efficiently.
Speaker 1
01:16
I mean, like reading their...
Speaker 2
01:18
Yeah, like knowing what to read and what to listen to, what kinds of questions to ask that'll be engaging and that they'll give good answers to, and how to follow up on a question if you get an unexpected answer. So I'm kind of a control freak. I'm like, okay, here's exactly, at least in the beginning, I'm going to ask question ABCDEF, and this is how it's going to go.
Speaker 2
01:33
And like, you know, you ask a question, they start giving you answers all over the map and suddenly your perfect plan is thrown into disarray. So I think just like having the composure and the ability to calm down and be like, okay, it's okay. Just listen to what they're saying and have a normal conversation was difficult at first. Other things, like I don't know if you'd call this a skill but just being comfortable like in my own skin, like not not cringing at the sound of my own voice.
Speaker 2
01:58
Yeah I had my own podcast but I mean I would go back and listen and it's like, I don't know, like if you hate the sound of your voice, but I hated the sound of my voice at first. Now I'm fine with it, but at first I was like, man, I sound awful. Like, he's going to listen to me. Now it's not a problem.
Speaker 1
02:09
Yeah. You can only spend so much of your time cringing at yourself after you're like, oh God, I mean, like the amount of hours I've seen myself on video and listen to myself on a podcast or whatever. It's fine. Like, yeah, that is 1 of the things that I thought the fear would remain and it completely goes away.
Speaker 1
02:28
Maybe to a fault. But yeah, the video element has thrown a few people. What was your favorite episode? I haven't listened to all of
Speaker 2
02:38
them yet. It's hard to say a favorite episode because I'm always like, I'm going to hurt somebody's feelings. And then I forget too, you know, what happened in that episode?
Speaker 2
02:46
But some of the coolest ones, I did 1 with my friend Julian Shapiro, who's got a growth consultancy called Bellcurve. And he just deep-dived into a bunch of different stories of him working with different clients. And he was not afraid to share times where he just messed up, So I thought that was really cool. I really liked the episode I did last week with Wes Boss.
Speaker 2
03:05
That was
Speaker 1
03:06
a good 1.
Speaker 2
03:06
Yeah, he's a great guy. He gets an enormous amount of work done to be just a 1 person. He's got an email list of 170,000 developers on it that he's built by himself in like 5 or 6 years.
Speaker 2
03:18
Twitter following of like 100,000 people and he's just trucking along. He works 9 to 5, puts his laptop down and then goes to hang out with his wife and his kids. So he's got it together. That's really.
Speaker 1
03:28
And so I wondered about that. Like is there a list of people that you admire like man that that person has it figured out like I want to do Do exactly what they're doing.
Speaker 2
03:37
Yeah, there's a lot of people and it's it's like I always forget I'm like man that person's got it figured out in the next week. I've totally forgotten about it I've moved on to other things. Oh, yeah, what's boss guy?
Speaker 2
03:45
Your life's pretty good. Yeah, it's okay.
Speaker 1
03:48
I've seen a handful of like roundups of indie hacker pro tips from every episode. Are you continuously integrating their great ideas into your daily life or do you kind of just go your own way?
Speaker 2
04:03
Yeah I think it's funny it's 1 of the things I was telling a friend a couple days ago I think generally speaking like all of us tend to overweight like novel advice like things that are new or flashy or we haven't heard before. And it's so easy to ignore the things that we hear all the time. Like, oh, make something people want.
Speaker 2
04:23
Talk to your customers. Exercise, take some time off. Oh, I've heard that before, I get it. But I try to have the discipline to when I see that kind of repeated advice to take it to heart and not look at it as something that, okay, you know, have I heard this before?
Speaker 2
04:38
Yes, it doesn't matter, but more, you know, as a reminder to myself, like, am I actually living by this? You know, I've internalized this or I like to think I have, but like, am I actually talking to my customers? Am I actually taking time off? Am I actually exercising?
Speaker 2
04:48
And the answer a lot of the time is no. So I think when people do these roundups and people analyze things and I see this advice repeated, I take the time to ask myself if I'm doing it. And I think I've gotten better at it, just repeated reminders to myself.
Speaker 1
05:04
Yeah, I think you've become conscious of it, but I agree. I don't need 12 new morning routines
Speaker 2
05:08
in my life.
Speaker 1
05:11
So we posted a bunch of questions, or other people posted questions to Twitter for you. You have a lot of fans online. Ryan Hoover, Product Hunt, asked, what do you believe that most others do not?
Speaker 2
05:25
I'm glad I got this question on Twitter rather than just being asked randomly because it's hard to answer unless you've thought about it. Kind of a funny story. So I think this question originally comes from Peter Thiel, who would ask the founders of companies that he was interested in investing in, just as a way to find out if what they're doing is truly unique and whether they'd be able to have a monopoly and very few competitors.
Speaker 2
05:45
That's why he liked it. I liked it when I heard it because it's kind of a sneaky way to get somebody to say something controversial. So when I was in YC 5 years ago, I asked Paul Graham. It was like, I think, 2011.
Speaker 2
05:56
I was like, hey, PG, what do you believe? The guy asked, what do you believe that other smart people don't? And it took him a long time to answer. He was just like, I don't know, my thoughts, they're not indexed that way.
Speaker 2
06:06
But then he ended up coming up with an answer and it worked. It was controversial. I don't think anybody would, very many people would agree. I can't say what it was, out of respect for him, I don't mean to be a tease.
Speaker 2
06:15
But luckily I've had some time to think about it. Probably the most obvious 1 is I think that it's probably a bad bet to start a VC funded company for the vast majority of people. You should not go that route. But there's other things I believe too.
Speaker 2
06:30
I think that and the value of kind of this culture of always talking about like, you know, what mission drives you and we kind of are not honest about the fact that a lot of us are motivated by money and financial things. I think it's probably better for the world if people can just be upfront and honest about that. I think I Got a few others, but like let's start with those 2.
Speaker 1
06:49
Yeah. No, I completely agree and I think I'm your Everyone's ability to rationalize is unbelievably powerful Yeah, and you can be into anything and if you're good at it Like just being good at the game is often enough to drive people. So you see like folks criticizing, you know, anyone who works in anything and they're like, Oh, why do they care about this? Why do they do that?
Speaker 1
07:10
And I'm like, it's because they're really good at it. Yeah. And to
Speaker 2
07:13
it, it's fun to do things that you're good at it. You know, it stimulates your brain.
Speaker 1
07:16
Yeah, absolutely. Was there a point at which that you kind of turned on the interest in VC-backed companies? Did something happen?
Speaker 2
07:26
It was before I even got into YC, funnily enough. I went to startup school in 2009, and Jason Fried was there from 37signals, they called it at the time. And he was like, he stood out like a sore thumb.
Speaker 2
07:37
He was completely different than everybody else who talked. Everybody else is kind of a VC or they were a founder of a VC backed company. And he got on stage and basically said, everybody else is lying to you. Don't believe a word they say.
Speaker 2
07:48
Credit to YC for inviting the opposite opinion there. But I was very taken by what he had to say because no 1 else was saying it at the time. It didn't really change my approach at that time, but then I got into YC and we had the weekly Tuesday dinners where founders would come in. The same thing happened.
Speaker 2
08:04
We had a lot of VCs come in, we had a lot of founders of well-funded companies come in. Then Kevin Hale came in from Wufoo. He was the only person, he was kind of an Andy Hacker at the time. He was just like, yeah, I packed up my company, we moved to Florida, investors call us every day, we just, you know, politely say no and we're just happy making money, you know, they're making millions of dollars a year and I was intrigued by that, like, huh?
Speaker 2
08:24
You know, but it wasn't until like recently, like basically last year, I really decided that's what I wanted to do for myself. Yeah. I wasn't really, you know, in the mood or really inclined to do the whole fundraising thing and I'd rather just make money from an idea online that I enjoyed doing.
Speaker 1
08:41
Dave And that idea, was that Indie Hackers? Brian Yeah.
Speaker 2
08:45
So I mean, the company that I did YC with, Task Force, still exists. It's still out there. It still actually makes money, passively.
Speaker 2
08:52
I kind of worked on that for a little bit, but I didn't think it was really going to go anywhere. I wasn't enthused about the idea. And so I sat around for a couple days thinking, okay, what am I going to work on? And PG wrote about this.
Speaker 2
09:04
Brian Feroldi It must have been
Speaker 1
09:04
2 days. Yeah.
Speaker 2
09:06
It was like 3 solid days. PG wrote about this like 12 years ago or something but a lot of people when they come to the idea phase they think that it's something that you naturally have to be good at. You just get a good idea or you don't, right?
Speaker 2
09:18
Whereas, the reality is, it's like any other creative endeavor. If you practice for long enough, you'll create a good idea. You don't try to paint the Mona Lisa in 15 minutes, and if you don't get it, you give up. So I was like, all right, I'm going to push through this.
Speaker 2
09:29
I'm going to spend 2 days coming up with ideas. Most of them are absolutely horrible. I just deleted them immediately. But by the end of 2 days, I realized I was consistently coming up with much better ideas than I had before.
Speaker 2
09:39
I was just reading through Hacker News threads. People would ask every month, ask HN, what's your profitable side project? Or ask HN, how much money are you making from your business? And people would share all the details.
Speaker 2
09:49
I figured, okay, there's hundreds of stories here. If I read through enough of them, maybe I'll glean some insights, I'll see some patterns that I can apply and it'll help me come up
Speaker 1
09:57
with an idea.
Speaker 2
09:57
And that's literally exactly what happened. I mean, the idea for Andy Hackers was based off of the realization that, hey, I'm not the only person who's researching all this stuff. The reason these threads are so popular is because everybody else is really interested.
Speaker 2
10:08
I could probably do a better version of these threads and that's what IndieHackers is.
Speaker 1
10:12
And I was wondering, is it Because there's been a rise in the popularity of indie hackers, right? But I think there's also a rise in just the number of those threads all over the internet. Is that because more people are now thinking about small businesses or just non-VC backed businesses?
Speaker 1
10:29
Or there's more people in the software development space right now?
Speaker 2
10:33
I think probably a combination. So I read the book Sapiens earlier this year and my takeaway from, it's kind of a history of all of humanity from the beginning of evolution. And my takeaway from Sapiens was that human societies tell stories.
Speaker 2
10:47
And it's tricky because it's difficult to determine whether or not something you believe is just like an arbitrary story that your society happens to tell, or if it's like some immutable fact of the universe. And for the longest time, like the story around tech companies has been that like, if you start a tech company, you have to raise a lot of money and prioritize growth over funding. That's the story. It's amazing how much everyone just believes that and doesn't even consider the possibility that you can start a profitable company that doesn't have to be that big and you don't need any sort of investors or gatekeepers to tell you what to do.
Speaker 2
11:18
I think the story started to change a lot. And once people hear this alternative version of the story, and once they see examples of it, people kind of wake up out of this zombie-like state, and they're like, oh, I guess I can do that. They've sort of been given permission. But there are other practical factors and reasons why the story has changed.
Speaker 2
11:35
A good 1 is, if I look at the IndieHackers traffic stats, something like 60% of the traffic is from not in the United States, let alone Silicon Valley. People are all over the world starting these companies. And just from a practical standpoint, it's hard to raise money if you live in Bucharest. It's difficult, you don't live in Silicon Valley, you don't have access to investors.
Speaker 2
11:53
And so your options are, either you suck it up and try to raise money locally, you move to a tech hub and raise money there, or you just prioritize profitability, which is kind of the easiest of those 3 options. And so I think there's a lot of just natural pressure as more people over the world get interested in tech to start profitable businesses and to care less about growth overall else.
Speaker 1
12:14
Paul Matzkoff And have you seen that there's a common trend in folks just getting started, like starting similar kinds of software businesses? Yeah, for sure.
Speaker 2
12:23
I mean, the other thing is, if you look at the companies that VCs tend to invest in, they're generally in winner-take-all markets. Yeah. Because venture capitalists want some massive return.
Speaker 2
12:32
You really want to be number 1. You want to destroy the competition. So it's social things like Facebook or search applications like Google versus things that are profitable. You don't want to be in a winner take all market.
Speaker 2
12:43
You don't want to be fighting for your life every second of the day. You don't want to be in a zero-sum game where everyone else has to lose for you to win. And so people end up starting businesses that are very related. How many profitable analytics companies do you know?
Speaker 2
12:54
Like email marketing companies. There's a ton. You know, how many different ways are there to teach somebody something? I tell people all the time, if you want to start a business, just teach people.
Speaker 2
13:03
People like learning in like a thousand different ways. Some people want to go to college, some people want to like classroom settings, some people want to read, some people want video courses, some people want to email newsletters, some people want to learn through games. There's no reason why you have to completely differentiate from everyone else in the market. You can do something that's similar and people will like your own unique style So people for sure start related businesses, and I think it's a good thing because in it It kind of fosters a sense of camaraderie.
Speaker 2
13:28
You don't have to compete with everybody. You don't have to be mistrustful of everybody. And you can get advice from people who are similar in doing things that kind of tread that path before you.
Speaker 1
13:37
Well, I've been wondering that with all of the guests you get, you know, because they're divulging most of their information, right? Like usually like how much money they're making, all of these kinds of metrics. Are they worried about copycats or is this something that now that you have some traction they kind of like know the deal and it's easier to get people?
Speaker 2
13:54
Yeah, I mean people that I've talked to are generally not that worried. I've had some people who refuse to come on because They say, what's the benefit of me revealing my secrets? You know, someone's going to copy me.
Speaker 2
14:03
And then I've had people who've revealed their secrets that have actually been copied, and it's always hilarious because if you think about the kind of person out there who's going to like just listen to your podcast and read your interview and is just waiting for someone to reveal all the details, and then they clone everything that you've done and make some crappy version of your website but that's different in no way at all except that it's 2 years later. That's not the most competent person that you should be afraid of. I think generally it's a non-issue, especially if you're not in some sort of winner-take-all market.
Speaker 1
14:34
Okay, even more questions from Twitter. David Adamu asked this question to both you and Ryan, which is part of the YC application. It is, tell us about a time you successfully hacked a non-computer system to your advantage.
Speaker 1
14:49
Brian Feroldi.
Speaker 2
14:49
Yeah, I do remember doing this on the YC application. My answer now I think would be more interesting if I related it to ndhackers. But early on in ndhackers history, I was kind of running myself ragged.
Speaker 2
15:01
I thought that, I mean I really wanted to put out a lot of content. I wanted to do 3 or 4 or 5 early on interviews per week and these are not small interviews. So like sometimes a thousand, 2000 words. Sometimes they're very poorly written.
Speaker 2
15:13
I had to edit and I had to follow up with the person. So they took hours and hours. And
Speaker 1
15:16
you did this solo?
Speaker 2
15:17
Yeah, I did it solo. And then I was sending a newsletter and then I was trying to grow the business as well and so my trick early on was like, I'm just going to work 80 hours a week. It was not much of a trick.
Speaker 2
15:27
Yeah, but eventually I realized like, okay, this is not going to work. It's okay to do things that don't scale, but you can't do that forever. You need to figure out a way to make it work. And so what I wanted to do was increase, or at least maintain the level, the quantity of content that I was putting out without having a drop in quality.
Speaker 2
15:42
And so I wanted to, the ultimate would be to have some sort of interview system that worked for everyone, it was generally applicable, and yet still got interesting answers, and didn't take me very long to do. And the answer that I hit on, I kind of stumbled into it. I just started doing it naturally, and it ended up working out. Every time I would do a text-based interview, And I did these interviews over email.
Speaker 2
16:01
I would ask pretty much the same questions, and then I would look at the responses and ask follow-up questions. And then I would take a note, okay, why did I have to ask that follow-up question? What did they leave out? They probably should have included, how could their answer have been better?
Speaker 2
16:14
Like, why did I go with them and give me a better answer? And after a few months of interviewing companies from all sorts of different industries and verticals, I had a gigantic list of ways that people commonly gave uninteresting interviews. And so I just factored that into my interview questions. So I would have a question followed by 10 or 11 bullet points for like, here's how you should answer it, or here's what you should avoid in your answer.
Speaker 2
16:32
Here are things that people like listening to. And so I started sending that to people, and instantly, the interviews that I got back were much more entertaining, and they required less effort, because I could send the same packet of questions to everybody. So it's kind of a, I guess it qualifies as a hack, where I no longer have to do as much work.
Speaker 1
16:48
But they're handwriting, well, they're typing these answers?
Speaker 2
16:50
Yeah, they're typing the answers to me over email. Every now and then I'll send a follow-up question, but it was optimized to be as little work as possible on my part so that I could do other things like start the podcast. I was selling ads at the time.
Speaker 2
17:02
I took up like half of my time. Yeah. Etc.
Speaker 1
17:05
Yeah. Cause I found that the, the best hack for me, we did a bunch of interviews with the first employees at a tech companies and the thing that worked was just doing audio interviews, transcribing them and then doing like insane amounts of editing. Because I found that there were just issues that you have trouble going back and forth to get deeper and deeper and deeper. Maybe you figured this out through repetition, but giving someone 1 chance at an answer, and then they painstakingly write the perfect answer, oftentimes it comes out kind of flat.
Speaker 2
17:38
Yeah, it doesn't work very well.
Speaker 1
17:39
No. It didn't work
Speaker 2
17:40
for me early on, which is why I had to do crazy amounts of follow-up emails. Yeah. And I was just resistant to doing the call.
Speaker 2
17:46
I didn't want to get on the phone with people. That's why I was so scared to do a podcast. I was like, I want to talk to people. I just like the whole programmer behind the computer, type on my keyboard and that's it.
Speaker 2
17:55
But it worked out. When we launched Indie Hackers last August, it was like 10 interviews. It took me 3 weeks, I sent hundreds of emails to get 10 people to agree to do an interview. And 1 of them was me, so it was really only 9 people.
Speaker 2
18:09
And now we've got like 200, I think we just hit 200 this week, interviews, 30 podcast episodes, and I'm working on that part of the business less than I ever have.
Speaker 1
18:19
So what are the other parts you're working on?
Speaker 2
18:21
I'm working on the community right now. So IndieHackers really, it started off as a content site, really a showcase for these types of profitable internet businesses. But today I would describe it more as a community of founders and aspiring entrepreneurs who are sharing knowledge with each other and helping each other to build successful businesses.
Speaker 2
18:38
So the real core of the site is the community forum. It's just a bunch of people asking each other practical questions. How do I market my site? What do you think about my landing page?
Speaker 2
18:47
Did I change this? What do you think about my landing page? Did I change this? What do you think about my idea?
Speaker 2
18:49
How do you people find time to work on your projects when you have a family or a full-time job, et cetera, and just helping each other out? That takes a lot of time to grow. I'm thinking about building, kind of harnessing the power of the community to build tools that help these makers and these indie hackers to actually do better. What can they all work together on to make their lives easier?
Speaker 2
19:10
So it could be something as simple as maybe a crowd source list of the best podcast episodes for this month. Just because I don't want to dig through all the podcast episodes to find out what's worth listening to. I want these other people to tell me. All sorts of tools like that I think would be interesting for this community.
Speaker 2
19:27
I'm spending almost all my time coding and talking to people and trying to figure out what to do there. Whereas my brother, who was brought on as part of the Stripe acquisition, is handling almost all of the editing for the interviews and collaborating with interviewees and handling the articles and finding people to write for indie hackers.
Speaker 1
19:43
So that now is just growth tactics, right? To get people into the forum.
Speaker 2
19:47
Brian Feroldi Yep, exactly. And it's kind of automatic. I mean, I'm not doing very many tactical things.
Speaker 2
19:52
Things get submitted to Hacker News. I think that's probably our number 1 growth channel. People on Hacker News read the interviews, which is how the site got launched. So it's not particularly, nothing has changed very much in the last year.
Speaker 2
20:03
It's more about like product, like what's the right decision, what's worth building and what's not. It's a tricky decision because obviously as a 1 or 2 person team, building something is a humongous investment and You don't want to spend 3 months building the wrong thing.
Speaker 1
20:17
We have a handful of people coming up. 1 guy runs a site called Bigger Pockets,
Speaker 2
20:23
which I
Speaker 1
20:23
don't know, have you seen this before? It's basically like a giant real estate forum. And they've created tons of educational content.
Speaker 1
20:31
And I think they also have a bunch of, I might be mistaking this, but a bunch of calculators and stuff. So basically these tools that folks who are interested in real estate investing need. And they've figured it out. After someone asks the same question 400 times in the forum, you're like, oh, maybe there's some amount of interest here.
Speaker 2
20:47
Brian D. Wu Exactly. I think that's a cool model, too.
Speaker 2
20:50
When I was scouring Hacker News trying to come up with an idea, the company that I saw that inspired me the most, and actually the first person that I reached out to for an interview afterwards, was a company called Nomad List. Started by this guy, Peter Levels, who's always on HN, he's a crazy personality on Twitter as well. But what he did was basically built a resource for digital nomads, basically a list of all the different cities in the world that you might want to travel to, and then just common stats that you would like to research, like how fast is the internet, how safe is it, how expensive is it? And so people who are digital nomads are like, of course they want to do this research, they're going to go to this site rather than scouring the web.
Speaker 2
21:24
And once he got them all in 1 place, he built a community and he started building tools for that community that are just for digital nomads like himself. I think that's a pretty cool model. It sounds like this real estate site's the same. IndieHackers is very similar.
Speaker 2
21:34
Paul Matzkoff
Speaker 1
21:34
Yeah, and so because that was a handful of people on Twitter asked this question. So Tom, for instance, and Pratik, I'm getting their name wrong. Basically, how do you grow a forum is the question.
Speaker 1
21:48
Had you built a forum before? You had no idea? Brian D.
Speaker 2
21:50
Williams I had no idea. I just kind of winged it. I knew I wanted to have a forum.
Speaker 2
21:55
So the day that I launched Indie Hackers, I had a link on the site that said forum, but the forum wasn't built yet. And it just had a signup list. So
Speaker 1
22:03
it would just go to a MailChimp list
Speaker 2
22:05
or something? Brian D. Williams Yeah, it would just go to my MailChimp list.
Speaker 2
22:06
And I wanted to see, okay, how many people sign up for the mailing list on this page it's some sort of rough indicator whether or not people want there to be a forum or a community which I wasn't sure of you know you could people are already talking on reddit they're already talking in hacker news like maybe
Speaker 1
22:17
This is a big question for a lot of people. They're like, why would I build a forum when I could get discussion, even with my own Facebook group? What motivated you to do it?
Speaker 2
22:27
Geoffrey Yeah. I did a lot of things early on that I think were, a lot of people found unintuitive. They're like, why would you do that?
Speaker 2
22:33
Why are you building your own website rather than using WordPress? Or why don't you just use a medium blog? Why is Indie Hacker this dark blue website that looks ridiculous? Why are you building your own forum?
Speaker 2
22:44
Why don't you use Discourse and why don't you just use Facebook? My thinking from the very beginning was, your product, whatever you do, if you're going to be invested in it for a number of years, you should take the time to make it stand out and be different and be yours. I knew going into it also that I'm a computer programmer. The other ideas on my list before I chose Indie Hackers were all kind of SaaS businesses that involved a lot more development.
Speaker 2
23:06
And I begrudgingly chose the idea that was a blog. Indie Hackers is a blog. So I was like, okay, if I'm a programmer and I really want to do these other things, but I'm going to do a blog, I'm going to allow myself to do some fun stuff and make some stuff to keep myself interested. I also thought about what I didn't like about blogs.
Speaker 2
23:20
The worst thing about blogs is when you go to a blog and you read something good on it, and then you come back a month later and you don't even remember that you were there. There's no way you're going to go to Indie Hackers and not remember that you've already been there because it's a quirky dark blue website that looks like nothing else on the internet. You might as well stand out. So I decided early on that I didn't want to do the standard thing that other people were doing.
Speaker 2
23:40
I didn't want to use Facebook for my community groups. I wanted to do it all in-house and do it myself.
Speaker 1
23:46
And so if someone were to start a community, like what would be your advice on getting a forum going?
Speaker 2
23:54
Okay, so number 1, I think you need to organize your forum around a topic that people can actually talk about and they actually enjoy talking about. It seems obvious but people do it all the time where they start a community I think around something that people don't really like talking about and then they wonder why it's empty.
Speaker 1
24:09
Like what?
Speaker 2
24:11
Like just like one-off things like okay let's start a community about I don't know like something super specific like how do I incorporate? Okay well you can't really have a community around how to incorporate because people will ask that question, it's answered, and then they're out. So not only do people need to enjoy talking about it, but they need to be substantive enough that they can come back and continue talking about it.
Speaker 2
24:29
Starting a business obviously qualifies because there's endless challenges. Number 2, I think you need to have some sort of strategy to continually drive traffic to it. It can't be you launch your community on Product Hunt and then after that you've got no strategy. And this applies to any product, not just a form.
Speaker 2
24:45
With ndhackers, if you were to think about the form as the core product of ND hackers and the interviews as content marketing, I think that'd be a good model for how it works. So I'm constantly doing these interviews every week. The interviews themselves are really entertaining. It proved early on that people on Hacker News and Reddit and other websites, Twitter, enjoyed sharing them.
Speaker 2
25:04
So I could do the interviews, get people on my mailing list and then send out links to the community on my mailing list and continually drive traffic and kick start it over and over and over and over again for weeks. So if you're starting a community from scratch and you don't have any way to consistently drive traffic to it, you're at a tremendous disadvantage and you're going to be sort of just having to pedal faster every single time you want to get more traffic. I didn't have to do that. It was easier because I started with my content marketing strategy first.
Speaker 2
25:30
And I think finally, you've got to ensure that there's good content and discussions going on early on. I, the first week, created a bunch of fake accounts, which I'd heard other people doing. I was like, all right, this seems cheesy, but I'll try it. And I would have conversations with myself.
Speaker 2
25:45
I would have conversations with other people. I never let anyone make a thread that I didn't respond to and try to give them a valuable response because otherwise they're not going to come back. No 1 wants to see an empty forum. It helps to think of interesting discussion topics, etc.
Speaker 2
25:57
So as long as people like talking about what you're doing, as long as you have a way to drive traffic there consistently and as long as you ensure that the conversations there are interesting, I think over time the forum that you start will grow.
Speaker 1
26:09
Paul Matzkoff So to kind of boil it down, there were no crazy growth hack type things. It's just you figured out a market where people are interested in reading a bunch of content about and made a bunch of content. And then they just ended up on your site and following you.
Speaker 1
26:25
Brian. Exactly.
Speaker 2
26:26
And the idea of the crazy growth hack is so overrated. Even when I sometimes do an indie hackers interview, people who read it on Hacker News will say, oh, just boil it down to this 1 trick that this person did. That's never the case.
Speaker 2
26:40
I think we all want it to always be like, oh, it was this 1 thing that they did that's responsible. It's almost always just like they got the basics right. They made something that people actually wanted, which is deceptively simple advice. It sounds simple, but people always subtly do other things that aren't making something that people want, and wonder why no 1 uses their product.
Speaker 2
26:57
So the tricks, I think, are overrated. Make sure that you build something that people want that's good. And then make sure that you're actually thinking about how to get people in the door. You're not obsessed with the product itself.
Speaker 1
27:07
Right, yeah, I mean, it's the, I mean, people call it like leaky bucket, all this stuff. It's continually a piece of advice when we're talking about like content or content marketing with any YC startup. Make something that you're going to want to read.
Speaker 1
27:20
Doing these listicles that no 1 really cares about and your site looks like Medium, so no 1 remembers what it is, it's kind of just wasting time.
Speaker 2
27:28
I know, I did the same thing too with my YC company. We just slapped a blog on our website. It was so boring.
Speaker 2
27:33
We would announce new features every now and then and it would be empty for 6 months. Whereas I think some of the most interesting content online is it's treated as if it is the product. The ND hackers, the content was the only thing on the site for months. I think you need to put that level of detail and thought into it.
Speaker 2
27:51
Like we were just talking about, be creative too. Content doesn't even have to necessarily look like content. The content on Nomad List was like a database of cities with information about them. That's not like traditional content, but it's interesting.
Speaker 1
28:03
Yeah. How many interviews do you cut? Text interviews or podcast? Ah, oof.
Speaker 2
28:11
I mean, the answer is 0, actually.
Speaker 1
28:13
Oh, 0? They all go? Yeah.
Speaker 1
28:14
They all go to print or publish or whatever?
Speaker 2
28:16
I don't think I've ever conducted a text interview that I didn't end up putting up. You know, there might have been like 1 or 2 or someone was just complete jokester and I gave like 1 sentence responses and I was like send it back to them and they just never responded. But I mean that wasn't me cutting it, that was them never responding.
Speaker 1
28:30
I think
Speaker 2
28:33
a good interview, you could really coax it out of anybody if you're willing to like put in the time and the effort.
Speaker 1
28:37
Well, so that's the text thing is what kind of strikes me because in person you just like you get the vibe and you're like, okay, they're going to be a little bit difficult, but you kind of like warm up the room and they're good. When someone's not responsive over email or not, I don't know, not as specific or not as interesting as you think they could be, how do you get better answers out of them?
Speaker 2
29:00
Follow up endlessly until they either quit or they give you a good answer. I mean, what we also do sometimes is we'll put their interview on the site as a draft, which is end line comments like, oh, this is a really interesting answer. Like, care to give us some details besides what you gave us?
Speaker 2
29:15
So like, it would be awesome if you added a chart or a graph here in your interview. So I think from the outside looking in, maybe it looks like people are magically just giving good answers, but sometimes you just have to coax them. And like you said, in person you do that by filling out the room, and just vibing off the other person. Over text, you just take the tedious time to point out what's wrong and how it can be better.
Speaker 1
29:36
Okay, fair enough. All right, so question from Tom. What was the hardest, sorry, I mean, the question is what was the hardest with IndieHackers, but I think what he means is what was the hardest thing about building Indie Hackers?
Speaker 2
29:47
Brian Feroldi Managing my time early on, but I already talked about that. What else was difficult about building Indie Hackers? I think doing it alone is difficult.
Speaker 2
30:00
I'm super lucky because the site itself in a very meta way is about building startups. It's about starting companies. The way that I look at it, my mental model for building a startup is that essentially your whole goal is not to quit. I saw a really good tweet the other day that was, here's the secret to success, pick any idea, work on it for 10 years, you will succeed, just don't quit.
Speaker 2
30:20
So the way I look at a startup or any sort of company is like imagine a race or a marathon where if you get to the finish line you win you know depending on how skilled you are and how much you learn and how good your product is the finish line might be further away or closer, but all you have to do is keep running and not quit. And I think when you are a solo founder, it's really easy to quit. I mean, every time you run into a hurdle, you're like, I can quit here. You know, I don't know how to get past this.
Speaker 2
30:44
And A lot of people end up quitting way too early just because they're not prepared for that. They think that the typical startup story is that you just succeed after a couple weeks. You launch and
Speaker 1
30:51
then you're like set.
Speaker 2
30:52
Yeah, and then it's set from there. It's like I've failed enough times that that's not the case. You don't win by quitting.
Speaker 2
30:59
You don't win by succeeding overnight. It's a slog.
Speaker 1
31:02
But the content thing is, it's new for you, right? You hadn't done a content thing before.
Speaker 2
31:06
No, never.
Speaker 1
31:07
Right, and so content can feel like a treadmill.
Speaker 2
31:11
Yeah, it totally feels like a treadmill. I think that's what I was talking about earlier with having that kind of rubric that I sent out, it really helped with that, but it never felt like, as long as I got the content under control, it never felt like I was on a treadmill. I felt like, okay, that's fine, I just need enough time every week to work on pushing the business forward.
Speaker 2
31:29
So I would have 3 or 4 days a week to work on advertising. And that was a huge hurdle. I almost quit when I had no idea how to do ad sales. Because I'm not a salesperson, I've never done any sales before.
Speaker 2
31:39
But after 2 months of trying it, I was like, hey, I'm pretty good at this. I'm sending cold emails to people, and getting them on the phone, and making friends. People are buying ads on my website, it's working out. Same with the podcast, never done it before.
Speaker 2
31:52
It ended up going pretty well. But back to what was hard about it, I think any time where I let myself dwell in solitude for way too long, it was when I would think about this is hard. When I would open up to the community and send an email and say, hey, here's what I'm working on, here's what's hard, and get support, then it suddenly was much easier. And to go back to the marathon analogy, if you're sort of running this marathon by yourself and you look around and no 1 else is running, of course you're going to quit if it's hard.
Speaker 2
32:18
But if a whole bunch of other people are running with you, then suddenly the social proof of that just helps you continue.
Speaker 1
32:25
So by forcing yourself to work in public, you could stay motivated?
Speaker 2
32:29
Exactly. That's a good reason why I push people to be transparent and come on the site. You have very little to lose. You have a lot to gain, because people will identify with you, you'll make friends, people like your personal story.
Speaker 2
32:41
They want to know what's going on behind the scenes. And this whole corporate view of always saying we and never sharing any numbers. It's just so boring, who connects with that? Nobody wants to read that kind of stuff.
Speaker 2
32:49
Craig.
Speaker 1
32:50
Yeah, especially when you're on your own and just working at your little tiny bedroom office. Brian.
Speaker 2
32:54
Exactly. Unless you live in some sort of tech hub, most people around you don't know what you're doing. The internet's pervasive, but starting an internet business is still a pretty rare thing to do. I think being able to rely on some sort of online community, whether it's on IndieHackers or another site, if you can go somewhere and people are also doing what you're doing, and you can tell them what you're up to, and they can give you feedback and really just identify with you, then you're much less likely to quit.
Speaker 2
33:19
Peter Lewis
Speaker 1
33:19
How do you maintain a positive community?
Speaker 2
33:23
Brian D. Walker I do very little, actually. I was worried about it, because I've been a member of Hacker News for like 8 or 9 years.
Speaker 2
33:30
I have mixed feelings about it. I love it because the content there is good. People surface really good links. The discussion is very interesting.
Speaker 2
33:37
There's a lot of smart people in the comments, but it's also super negative. The vibe is, who can say the most contrarian negative thing first, that's going to get all the upvotes. Almost everything that gets submitted. So I was worried about the same thing with ND hackers, especially since so many people on ND hackers came from Hacker News.
Speaker 2
33:53
But I think it's naturally a little bit self-policing because these are all people who are very serious about building businesses. They're people who've done it before, who've perhaps shared their project on Hacker News or Product Hunter or something and gotten negative comments and they know what it feels like. So they're the last people who are going to bash what other people post. They're not going to be negative assholes because they know what it feels like to be on the other side of it.
Speaker 2
34:14
If not the emotional intelligence, at least the experience to be like, oh that sucks, maybe I should be careful and just give positive feedback or constructive criticism. So I've luckily not had to do very much at all to prevent people from being negative. And I also think the community, it's not a link posting community. You don't go on IndieHackers and just share a link to something and say nothing else, you actually have to have a discussion.
Speaker 2
34:34
And so you're actually, from a personal perspective, saying, here's what I built and here's what I did. And I think it's a little bit harder to be an asshole when the person who wrote the post is also the person who submitted it. Paul Matzkoff
Speaker 1
34:45
Yeah, I think that's, it dearms people, even on HN. When you get into the thread, I advise people this all the time, just like get into the comments. Yeah.
Speaker 1
34:53
Like people respond much more positively when they know you're in there
Speaker 2
34:56
and
Speaker 1
34:57
you're like sincerely want to engage. It's weird. They're like, oh, this person made it onto the internet.
Speaker 1
35:02
Like, what do I do? I
Speaker 2
35:03
didn't expect this.
Speaker 1
35:04
It's like, oh, delete account. So someone asked an interesting question, which is, would you advise starting indie hackers, meaning like a person who's getting started, to join an accelerator?
Speaker 2
35:18
Yes, I would. I think, okay, so I've only done YC. I can only really vouch for YC.
Speaker 2
35:25
The boring answer is obviously depends on the accelerator. If it's Y Combinator, undoubtedly yes, the advantages outweigh the disadvantages tenfold. And it really goes back to, what is it that kills startups? People quitting.
Speaker 2
35:37
What do people very rarely do? Quit out of an accelerator when they're surrounded by other people doing this and investors who are pushing you along. So for no other reason than that, I think it makes sense to join an accelerator. But also like the mentorship that you're going to get, the advice that you're going to get.
Speaker 2
35:52
I'm really big on founders joining any sort of community. If you can find a way to position yourself around other people doing what you're doing then you're going to increase the chances of your business succeeding. The caveat is usually accelerators come with investment terms and investors and you need to be aware of, you need to go into that with both eyes open. I spent some time doing contract work and I worked for a lot of VC funded startups for a few years.
Speaker 2
36:18
And it was so interesting talking to the other employees there, sometimes the founders there. They would build a very good product that maybe 20, 100,000 people were using, people were paying for, and then sometimes just crash and burn because the level of success they needed to reach in order to meet their investors' expectations was so high. I think if you go into any sort of accelerator, if you accept money from investors, you need to be aware that, yes, the money might help you succeed and grow faster, but at the same time, it's also raising the minimum bar for success. And if that bar gets raised too high, to a degree that's unrealistic for your product to hit, if you're building a to-do list app, and you need to be a billion dollar violation, good luck, there aren't very many billion dollar to-do list apps, you know?
Speaker 2
37:01
So I think you should be aware of that if you're going to join an accelerator.
Speaker 1
37:04
Yes, that is a pro tip from Silicon Valley. Just know the terms of the deal. Like, know the expectations.
Speaker 1
37:10
It's not crazy, but I think it's 1 of those themes that people are really attracted to with indie hackers because it's this unsaid like I don't think VCs are ever trying to be in the gotcha position because it doesn't work out for anyone if the company doesn't work but like when you set your expectations in life to like build this billion dollar company and you raise the money and then you realize that you're making a to-do list app.
Speaker 2
37:33
Brian Feroldi. You're not going to hit that. I think a lot of it is, like I said earlier, people just hear 1 story.
Speaker 2
37:42
They don't really think about what kind of deal they're making or why they're going that route or why they feel the need to build a billion dollar company. I agree with you as well, the VCs aren't super nefarious, they're not like, I want to trick everyone. But at the same time, their incentives are such that 90% of the time They would rather have a whole bunch of people fail and a few people make it big than to have everybody have a middling result. So if you're a founder, you have to ask yourself, do I want to have a high risk of failure to have that 1 shot at the top, or do I want to maybe make $10,000 or $20,000 a month or a small exit or something, and then maybe go for the big shot, which I think is probably the more rational decision for most people.
Speaker 1
38:21
I would imagine so. Yeah. All right, so there's another question from Bert.
Speaker 1
38:27
Are there other recipes for folks growing a side hustle or a small business, whatever you want to call it, in Europe compared to the US? I don't think so.
Speaker 2
38:38
The reason is because if you compare working on a side hustle to building more of a high-growth startup, If you're trying to hit a billion dollar valuation, what do you care about? You care about, really, what you need is this potent confluence of factors all pushing in the same direction. You need the best idea ever, you need the best team ever, you need a growing market that for some reason has no real competitors, or a bunch of bumbling competitors.
Speaker 2
39:06
You need the best investors, the most money, a little bit of luck. You need everything to help you. Whereas if you're building a side hustle, if you're building a smaller business that still might be life-changing, but doesn't need all the luck in the world and every factor to line up, then really all you need are just some solid business fundamentals. It's eminently learnable.
Speaker 2
39:24
And those are going to be the same no matter where you are, whether you're in Europe or the US. You still need to build something that people want. You still need to have some sort of marketing and distribution strategy. You still need to be able to manage your time and not run out of money, et cetera.
Speaker 2
39:36
That doesn't change from place to place. The only thing that really changes is the number of people in your community who understand what you're doing, your access to capital if you want to raise money, legal things and taxes. But everywhere I've been, I went to South Africa, I talked to some anti-hackers there. You're building a business for the internet.
Speaker 2
39:53
Your customers are everywhere. It doesn't matter where you live.
Speaker 1
39:56
Steven Liu Are you only interviewing SaaS companies?
Speaker 2
39:58
Brian D. Rubinstein No, I interview the most random variety of companies. I tried early on to have some sort of rubric and generally if somebody emails me and they're like, hey I've got a consultancy, I try to say, you know it's not the best fit because you're really just trading dollars for hours.
Speaker 2
40:13
However, I think SaaS companies are kind of the most interesting. They're kind of the dream of people who want passive income and people who want the freedom that comes with that lifestyle. But there's lessons to be learned from other companies too. A good 1 is Scott's Cheap Flights, who did 1 of the coolest text interviews on ndhackers.
Speaker 2
40:31
It's basically this guy, Scott, who found super cheap flights for himself. And all of his friends were like, hey, I want cheap flights too. How did you go round trip to whatever for $200?
Speaker 1
40:40
Scottie Fendrickson The Venn diagram of nerds and airline hacking things, You wouldn't believe how many YC applications. We're going to blow your mind with this new mileage plan.
Speaker 2
40:50
People really like saving money on flights. It's a little insane. People will spend way more money saving money on time, saving money on flights than they could earn if they just worked.
Speaker 2
41:00
But anyway, Scott was super good at it. He built this email list of his friends and colleagues really, and he was just sending the flight deals that he was finding for himself. And it turned from that tiny side project into this massive business that's doing like $4 million a year. It's not SaaS at all, right?
Speaker 2
41:15
It's Scott and his friends now and the people he's hired scouring the internet and manually sending people in.
Speaker 1
41:19
There's no bot, there's no.
Speaker 2
41:21
No, I mean, that's it. And people pay to be part of this mailing list. They pay to be frequently sent to cheap flights so they can go, it's totally worth it for them.
Speaker 2
41:30
So that's not a SaaS company. 1 of the coolest interviews ever. And again, it's all the same business fundamentals. Make something people want, or you have to find a way to actually advertise this mailing list and get people on it.
Speaker 2
41:39
His marketing site is super slick, super streamlined, the conversion rates are extremely high, super transparent about everything. And it makes his emails fun, because it's like, hey, Scott here. It's like you're getting an email from just a person that you know who's trying to help you out.
Speaker 1
41:53
That is really cool. You spoke of the Nomad List guy before. Were there other role models for you when you were, Because I completely agree that it's so important.
Speaker 1
42:03
We're having Pete Adney, Mr. Money Mustache on the podcast. And he's awesome. But I think his, his whole deal was so influential with people in that he's just like software engineer for 10 years, saved up like 600 or 700K.
Speaker 1
42:17
I was like, I'm out. Yeah, like index fund, rely on the income from that. But I think he's just another example of just showing people the way. Were there other people that were kind of showing you the way?
Speaker 2
42:30
Brian Feroldi Yeah, David Heidemeier Hansen from Basecamp was a big 1 and Jason Fried. So I went to Startup School in 09 and saw Jason Fried talk, but my favorite talk was DHH's talk the year before. He was just like, it was super entertaining if you haven't seen it, you should watch it.
Speaker 2
42:44
But he completely just like dissed everybody there. And he was just like saying common sense things, like you can build a business and telling people things they hadn't heard before. So whenever I felt low, I would watch. I've probably seen that talk like 50 times, just because it's so inspirational.
Speaker 2
42:56
Brian Feroldi I've watched that 1. It's a really good 1. Who else? I think Peter Lovell was a big 1 that I mentioned.
Speaker 2
43:03
I didn't have that many influences. When I was reading through the Hacker News threads to find examples, I found a lot of really cool examples and people were like, what they're doing is awesome. That inspired me to know that it was possible and keep going, but there isn't any 1 person. Paul Adams
Speaker 1
43:17
What about just the idea of making a content site? Was that like you were reading some, because HN is an aggregator, right? So was there 1 site that stood out and was like, oh, this is cool?
Speaker 1
43:28
Brian Feroldi No.
Speaker 2
43:30
I think this is a big thing I tell people all the time. You shouldn't start by thinking about what your product is going to be and then making that. You should start by figuring out what people want and then based on what people want you find the best possible way to give them that.
Speaker 2
43:45
What people wanted in this situation was really 2 things. They wanted to do what I was doing and have some sort of easy way to research ideas for products. And number 2, I think people just found it entertaining to read these stories. And so the conclusion I came to after seeing that was like, okay, if I really want to provide what people want, it's going to be some sort of content site.
Speaker 2
44:05
Whether it's interviews, whether it's a podcast, whether it's videos, it's completely up in the air. All of those are valid solutions to that problem. I for sure need to include some transparent revenue stats. I for sure need to get some behind-the-scenes details.
Speaker 2
44:17
There are things that if I really wanted to give people what they wanted were absolutely required. And so I made sure to just do those things. But like I said, I'm a developer. Starting a content site sounded so boring to me and I was so upset that that was the best idea that they came up with, but I was also excited about it.
Speaker 1
44:33
Is the back end of the site user friendly at all? Are you like publishing from the terminal?
Speaker 2
44:38
It's not user friendly at all. It's like the whole bus factor, like if you get hit by a bus, how can your product stand up? Can someone else come in?
Speaker 2
44:47
Are there any hackers?
Speaker 1
44:48
Yeah, no. Yeah,
Speaker 2
44:50
I look both ways when I cross the street. Craig.
Speaker 1
44:52
Exactly, yeah, we're WordPress now for that exact reason. All right, are there common failures with a lot of these indie hacker founders that they describe as maybe something in the early days that they struggled with that's common between many of them? Brian Feroldi
Speaker 2
45:12
Yeah. You hear the stats all the time, 90% of businesses fail. But I think the earlier and earlier you go in the funnel, the more failures you see. Like the ultimate top of the funnel, most failures you see is people who are interested in starting a business but never get started, not for lack of motivation or care, but because they don't know what the first step is, right?
Speaker 2
45:33
Or they are grossly misinformed about what the first step is. So they, for example, like I said earlier, spend 5 or 10 minutes thinking up an idea. Every now and then it doesn't come to them and they conclude that they're just not, you know, they just can't do it. Or it's like, actually, you should probably dedicate like 3 or 4 days to coming up with an idea because it's this inflection point that's going to control the next few years of your life, you know, and it's not easy to come up with 1 off the top of your head.
Speaker 2
45:54
So people will get like kind of frustrated by that and stop. Or they won't be able to figure out the legal situation early on and so they'll stop, which is why Stripe has Atlas, for example, to help people out with that and make it super easy. Not having traction in the early days, super frustrating to people when they quit. So consistently, I mean, I sound like a broken record here, but it's like, the more times I say it, hopefully the more it will sink in.
Speaker 2
46:16
People quit way too early, way before they should quit. Like your idea, some people think their ideas are terrible like guys my idea was so flawed I'll tell me there you like that's a great idea. You just have to actually execute on it So I think that hurts The other thing is I think people don't read enough and I get the opposite of this often. I hear people say, oh stop reading and just start doing.
Speaker 2
46:38
That's true but I think if you're the kind of person who is going to have the determination and the grit to like actually start a successful startup then you're probably not going to quit because you spent too much time reading up front. That's not going to be what stops you for that type of person. But the benefits from reading are massive because starting a startup is not intuitive. If it was intuitive, then there wouldn't be so many guides and books to doing it.
Speaker 2
47:03
Everything you did that felt right would just work. But anytime you see an industry that's populated with intelligent people and yet most of them are still failing, it's probably worth taking a step back to say, like, there's something going on here that people don't realize and I should read and learn from other people's mistakes instead of repeating their mistakes and learning from my own horrible experiences and that's not to say that experience is not a good
Speaker 1
47:23
teacher. So what do you tell someone when they're like okay I'm in like I'm subscribed to your like workout plan I'm gonna spend 4 days and get my idea. What do you tell them to read?
Speaker 2
47:36
I tell them to read the Indie Hackers interviews, which are just a better version of the same HN posts that I was reading. I tell them to post on the forum. Share what you're doing.
Speaker 2
47:47
Don't go into a black hole and then emerge 2 months later and be like, I never did find an idea. Why don't you just keep a list of what you were saying, coming up with, and post them on the forum and people are happy to tell you what they think, what you should do next, etc. I think there's this kind of overwhelming assumption that we're just alone and that you can't share. Because there's not that many communities where people do this.
Speaker 2
48:06
I mean, I get it. It's not a common thing. People just aren't used to it. So I'm trying to reverse that.
Speaker 2
48:10
Someone on the Indie Hackers forum said earlier that they would like it if I made the forum a little bit more structured and created a specific way to ask for feedback because he felt spammy. He was like, oh, I don't like spamming people and asking. That's the entire point of this forum is for you to ask these questions and it feels spammy. So I think I've underestimated a little bit how much it can be scary or feel like not just not normal to ask people for transparent advice on what's going on.
Speaker 2
48:35
But that's my advice to people. As long as you have mentors and people who know what they're talking about who can help you out, and as long as you don't quit, even if you do things wrong, you're going to get some good advice and you'll be able to correct. Peter T.
Speaker 1
48:47
Leeds Okay, were there any books that guided you? Brian Feroldi
Speaker 2
48:50
I love all the most popular startup books. The Lean Startup is great by Eric Ries. I like Crossing the Chasm, it's a little bit older.
Speaker 2
48:59
It was kind of the lean startup of the 90s, I think, but still great advice there. And then it talks about the early adopters and all the way through the mainstream and late adopters and the difference between appealing to those different segments, which I think is extremely important for people to know. I like Peter Thiel's 0 to 1. I think the thing that trips a lot of people up while I'm talking about these books is that not every book is going to tell you who it's written for.
Speaker 2
49:22
If you read 0 to 1, that book is written for high-growth startups. It's got a lot of advice in there that's terrible if you're trying to bootstrap your way to success. And so people will come in and they'll say, you know, like I did this thing and it's not working. Why isn't it working?
Speaker 2
49:35
Like, cause that's advice that's like, does not apply to you. But I think if you're careful and you understand, okay, who was this written for? And what, you know, nuggets can I take away? Then almost all of these books have some, some nugget of advice that's useful.
Speaker 2
49:50
Hooked by Nir Yal, really cool book. Talks all about the psychology of habit-forming products and what gets people coming back, why do we form our habits, et cetera. Totally unaware of that until I had them on my podcast and I read the book. Ryan Hoover helped edit it as well.
Speaker 2
50:04
It's probably why Product Hunt is so addictive. But a really cool book, definitely worth a read for everybody. And also, books outside of the startup echo chamber. I have so many people who say, you know, Cortland, I've got this idea for an app that will let you like place an order at your local coffee shop before you get there.
Speaker 2
50:23
And it's like, I hear this idea like 7 times a week. And the reason is because everybody's reading the exact same books and the exact same blog posts and living in the exact same place. And so if you all have the same inputs you're gonna have like the same ideas as everybody else. Totally.
Speaker 2
50:34
So like if you really want to come up with something creative like not only should you invest the time to think about it but like travel you know go visit a different culture read some fiction or sci-fi or something like to get your creative juices flowing don't only read startup books.
Speaker 1
50:47
Yeah I think you have to have an opinion like you're outside of the norm. You do. Because it's true like yeah just hang out here long enough and it's the same ideas.
Speaker 1
50:55
Exactly. Yeah. Do any of the so this is a Cameron Reynoldson. How often do you see indie hacker projects transition from lifestyle businesses to startups or do they ever yeah
Speaker 2
51:08
all the time I mean Scotts cheap flights great example totally Okay, so it depends on your definition of lifestyle business. If you mean a lifestyle business is any business that makes money, and a startup is someone who's raised a lot of money from venture capitalists, I actually don't see that very often. Very rarely does somebody who is killing it and making millions of dollars decide that they're going to raise a ton of capital.
Speaker 2
51:31
I think most of those cases are pretty famous. But I see the opposite actually often, which is companies will raise 1 round and then they won't raise any more money. They're like, yeah, we're killing it. We don't need to raise any more money.
Speaker 2
51:43
We understand what level our investors expect us to get to. We're comfortable with that. Zapier is a good example. I had Wade on the podcast.
Speaker 2
51:50
They're doing extremely well. He doesn't need to raise any money. Kevin Hale and Wufu did the same thing back in the day. I also see a lot of side projects that start off as, I just want to supplement my income and make a few thousand bucks a month, that turn into, you know, I'm quitting my job, this is it, full time.
Speaker 2
52:05
This guy Mike Parham, he created an app called Sidekick. It's basically like a background job processor for developers so that they can run tasks in the background on their server and make their websites faster. He was doing it on the side of his business, and he was kind of mixing it with his business, and then he quit his job and was like, I'm not going to work my full-time job anymore. This is like taking off, right?
Speaker 2
52:23
And that's kind of the dream, because now he's got the freedom to work on whatever he wants, from wherever he wants, for whatever hours he wants, and Like there's no upside on his income. He's making something like a million something dollars a year as a solo developer Just doing what he likes.
Speaker 1
52:36
There you go. So
Speaker 2
52:37
not not a typical story like not everybody makes a million dollars a year But that definitely went from like side project and hobby into like more than a full-time career
Speaker 1
52:45
That's a real struggle Like I know a bunch of software developers that have their like, you know, cushy internet job and have a side thing and they struggle to figure out like at what point do you really switch? And like, is that a, is there like an advice section in the forum that people struggle with this question? Or is this actually more rare?
Speaker 1
53:05
Brian
Speaker 2
53:05
Feroldi. It's very common. And Andy Hacker's as it exists right now, it's not very prescriptive. It's not organized into an answer to every specific question you might have.
Speaker 2
53:13
It's more free flowing. So every now and then a topic might pop up about that and people will get all sorts of good responses. But my personal advice would be it really depends on the level of risk that you want. And it's harder once you're a developer or even a non-developer in some job where it's cushy and you're making money.
Speaker 2
53:28
Like when I first moved out here, I was like the stereotypical like, you know, 22-year-old eating ramen noodles. Like I didn't care what kind of apartment I lived in. And then I started shopping at Whole Foods and moving into better apartments. Yeah, now it's like, okay, I can't quit my job or do something unless I have a really good idea that's really working out.
Speaker 2
53:46
And I empathize with people who are in that situation. I really think that you should have some form of product market fit. You should be confident that your product can work. If you've launched a side project and there's no one's using it yet, and you're just excited to code on it, that's probably premature for you to leave your job.
Speaker 2
54:04
Every software engineer really likes coding their own thing, it's fun. But you really need to get to the point where you've found a way to get people to your app. You've found a way to actually grow your revenue and you can say, okay, at this rate it's a matter of time. I think that's helpful.
Speaker 2
54:23
I realize that it's kind of intimidating if you're not a person who would describe yourself as a business person. If you're like, I write code, I have no idea what it means to do business. Really, there's no such thing. It's just a collection of individual tasks, like finding people to come to your app, which is, if you read enough examples, you'll start to see the patterns.
Speaker 2
54:41
You'll start to see what options are available to you. I would encourage people not to be worried that they don't have experience here, just make sure to read and learn from what other people are doing. Make sure that you are persistent and you don't quit at the first sign of distress. And then, you know, if things start working, it'll be pretty obvious.
Speaker 2
54:56
With Mike Parham, it was like, hey, I'm making 50k a year from my app, you know, 100K a year now, wow, it's only been 2 months, or, you know, with Scott, with Scott, cheap flights. It's like, you know, suddenly I'm making like thousands of dollars, I can hire somebody. You know, why do I need to work my job?
Speaker 1
55:10
Yeah, also like, if you're a talented developer, the downside's pretty low, right? You know, ideally it makes enough money to sustain you. You spend 6 months on it, and if it doesn't work out, you're going to get another job.
Speaker 1
55:22
Exactly.
Speaker 2
55:23
I mean, that's what I did. I was contracting. I quit, and I had enough savings to live for like a year or 2 in San Francisco, which could have gotten me much further in any other city.
Speaker 2
55:31
I do not recommend trying to bootstrap in San Francisco paying a ridiculous rent here. But ultimately it's like, okay, I'm confident that if things don't go well, I'll have a backup plan. It's much harder if you're in a different situation. Brian Feroldi
Speaker 1
55:43
Yeah, for sure. How are things going now that you're at Stripe? Awesome.
Speaker 1
55:50
They're not watching.
Speaker 2
55:53
Stripe is a great company. It's so funny because the acquisition happened completely out of the blue. People ask me, how did you set up the acquisition?
Speaker 2
56:00
I'm like, I started a blog. No 1 starts a blog to get acquired. The email came completely out of the blue from Patrick. But it's really the perfect union.
Speaker 2
56:11
I think some people, you know, every now and then will be skeptical, especially in Hacker News, about any sort of acquisition. Like, you know, what's the real play here? I think it was obviously good for me, it's good for Stripe, and it's good for the indie hackers community, for indie hackers to be under Stripe. Specifically, if you look at Stripe's goals and incentives here, I mean, Patrick Collison came in on the hacker news thread that announced the acquisition and made the top comment where he just said flat out, here's why we're acquiring ND hackers.
Speaker 2
56:35
It was super straightforward, which is Stripe does better if more people are starting companies and those companies are more successful. ND hackers' mission is to help more people start companies and be more successful. There's no man behind the curtain there, there's no sort of secret thing going on. And also just examining a world, ndhackers without Stripe versus ndhackers at Stripe.
Speaker 2
56:56
So what I was doing back in February and March is spending an inordinate amount of my time finding advertisers, putting ads in my newsletter, putting ads on the website, putting ads on the forum. Ads, as much as they might fund a site, they don't make a site, they don't make it better. No 1 is happy to get a newsletter that's got ads in it. It doesn't help anyone, right?
Speaker 2
57:15
It didn't help me to do anything other than pick up the ability to do some sales. Peter Labradore Well, pay rent.
Speaker 1
57:19
Brian Feroldi
Speaker 2
57:20
Yeah, and pay rent. But ultimately, at Stripe I've got a salary. I don't have to worry about paying rent.
Speaker 2
57:25
I'm not worried that any hacker's going to go under. They're not going to shut the website down. They did not buy it to shut it down. They did not buy it for it to become some super profitable thing in the next 6 months or anything.
Speaker 2
57:36
The long term is pretty much set. Now I can just focus 100% on my original mission, which is just helping people start companies and showing that there's another way to do it that's not the story that we've all heard. So Stripe's been super fun. They're really hands-off.
Speaker 2
57:50
I think I've met with Patrick like 3 times since I've joined in the last 6 months, and he's a super smart guy. We just brainstorm together and think about how to make the site impactful. So it's really the perfect acquire and the incentives are aligned perfectly. There's nothing that I want to do that they don't also want to do.
Speaker 2
58:04
Craig.
Speaker 1
58:05
That's great. Do you have any side projects going on right now? No.
Speaker 1
58:09
If you could start any side projects,
Speaker 2
58:12
which 1 would you be
Speaker 1
58:13
jumping on?
Speaker 2
58:13
What would I start? It's so funny. Tell
Speaker 1
58:15
me it's going to be a coin. It needs to be.
Speaker 2
58:17
Brian D. Wurf, Jr.: It would be an ICO, Andy Hacker's ICO, really. I don't know, actually.
Speaker 2
58:23
I think my side project would be, I would follow the same formula I followed last time. I need to spend 4 days, get my brain into that mode where it's actually good at this. It's like riding a bicycle. If you haven't ridden a while, you're gonna suck.
Speaker 2
58:34
But after you pedal for a while, you get good. Coming up with an idea, you need to take the time to do it. That being said, I think if you run a business for a while, you start to see opportunities for things where if that existed, you would pay for it for sure. I'm trying to manage my Twitter account.
Speaker 2
58:49
It's just a hassle to do that and also do all the other things. I really want better tools for social media. A lot of tools for social media already exist and a lot of them are wildly popular and profitable. So I've got some ideas in that area.
Speaker 2
59:03
It's hard to say, but I think maybe the day will come where I work on a side project on the side of IndieHackers. We'll see, I have way too much to do now. A lot of the stuff that I'm doing for IndieHackers is almost side project-ish. My life hasn't changed very much at all.
Speaker 2
59:16
I'm still working at home on Indie Hackers, still working on my own schedule. Yeah exactly. So it's not too different.
Speaker 1
59:22
Cool. All right. I don't have any more questions.
Speaker 2
59:24
Cool. Thanks for coming in.
Speaker 1
59:26
Yeah, it was
Speaker 2
59:29
fun. You you
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