9 Things I realized while making $5,000 from my startup 🤯
Karthik Tatikonda
28 replies
Hey Makers,
Nithin and I started LaunchPedia on Jan 8th 2023 and it's been an year of roller coaster ride🎢
From literally making no money in the first 6 months and coming close to shutting down,
to making $5000 from our digital products in the last 4 months.
Here are the 9 lessons I learned from our journey:
→ It's not wrong to pivot. It's better than giving up.
→ Build multiple small bets, until you know what works
→ Plan monetization whenever you're building a new product
→ Build products that make money, especially when your savings are on line
→ Don't overlook email marketing. Collect email addresses, build funnels and setup email sequences from day 1
→ Don’t delay your launch. Ship fast, validate the idea, get feedback, and iterate.
→ Leverage side project marketing. Build free tools and directory sites to increase your distribution and upsell your paid products.
→ Validate the idea using short term distribution strategies. Ex: PH launch, listing on directories, & Ads.
→ You don't need to build fancy products, you can also build info products as long as it is helping people.
Replies
PRIYANKA MANDAL@priyankamandal
Lancepilot
Wow, what a journey with LaunchPedia. Thanks for sharing your insights. I love the lessons, especially about pivoting and the importance of quick iteration.
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LaunchPedia
Glad to know that @priyankamanra 🤗
Pivoting is one of the best decision we took in the last year. Otherwise, we would have shut LaunchPedia down by now.
LaunchPedia
"Bootstrapping my startup to $5,000 revealed key lessons: persistence triumphs, frugality matters, agility is vital, and relationships drive success. 🚀💡"
It's truly inspiring to see how you turned things around and learned so much along the way. Your 9 lessons are pure gold for anyone starting a new venture.
LaunchPedia
Glad to know that man @felix_f_tao
Love the insight! Love the mission! Thanks for sharing Karthik!
LaunchPedia
Thanks man @chrislester 🤗
Congratulations on your success in the journey. Love the insights! Thanks for sharing this!
LaunchPedia
useful insights, thanks a lot! so cool that you have started making money in 1 year already, must feel so good:)
Thanks for sharing this Karthik & Nithin, I've been following you for very long! Congratulations on your achievements.
Thanks for sharing
Fantastic insights!
LaunchPedia
Glad to know that @sofiedavison 🤗
"Build free tools and directory sites to increase your distribution and upsell your paid products." this is interesting, can you share some examples?
LaunchPedia
Hey @ngohungtheanh
These are free tools and directory site we built:
1. whattomeme. com (meme library for startup founders) - We plugged our places to promote your list and reddit ebook in the footer
2. phhunters. com (list of product hunt hunters) - We plugged workbook in the side bar.
Thanks for sharing Karthik & Nithin, I would like to apply your lessons to my process. Thank you so much!!!
LaunchPedia
All the best @h_ng_an_nguy_n1 🤗
Nice to see other entrepreneurs already making money in the first year!! Appreciate the helpful tip :)
LaunchPedia
Thanks @shimron_etrnl 🤗
Comment Deleted
Great App
thanks for sharing such idea
Tks for sharing. Congratulations on your achievements
Really useful tips! Thanks for sharing!