More on Entrepreneurship/Creators
Jim Siwek
3 years ago
In 2022, can a lone developer be able to successfully establish a SaaS product?
In the early 2000s, I began developing SaaS. I helped launch an internet fax service that delivered faxes to email inboxes. Back then, it saved consumers money and made the procedure easier.
Google AdWords was young then. Anyone might establish a new website, spend a few hundred dollars on keywords, and see dozens of new paying clients every day. That's how we launched our new SaaS, and these clients stayed for years. Our early ROI was sky-high.
Changing times
The situation changed dramatically after 15 years. Our paid advertising cost $200-$300 for every new customer. Paid advertising takes three to four years to repay.
Fortunately, we still had tens of thousands of loyal clients. Good organic rankings gave us new business. We needed less sponsored traffic to run a profitable SaaS firm.
Is it still possible?
Since selling our internet fax firm, I've dreamed about starting a SaaS company. One I could construct as a lone developer and progressively grow a dedicated customer base, as I did before in a small team.
It seemed impossible to me. Solo startups couldn't afford paid advertising. SEO was tough. Even the worst SaaS startup ideas attracted VC funding. How could I compete with startups that could hire great talent and didn't need to make money for years (or ever)?
The One and Only Way to Learn
After years of talking myself out of SaaS startup ideas, I decided to develop and launch one. I needed to know if a solitary developer may create a SaaS app in 2022.
Thus, I did. I invented webwriter.ai, an AI-powered writing tool for website content, from hero section headlines to blog posts, this year. I soft-launched an MVP in July.
Considering the Issue
Now that I've developed my own fully capable SaaS app for site builders and developers, I wonder if it's still possible. Can webwriter.ai be successful?
I know webwriter.ai's proposal is viable because Jasper.ai and Grammarly are also AI-powered writing tools. With competition comes validation.
To Win, Differentiate
To compete with well-funded established brands, distinguish to stand out to a portion of the market. So I can speak directly to a target user, unlike larger competition.
I created webwriter.ai to help web builders and designers produce web content rapidly. This may be enough differentiation for now.
Budget-Friendly Promotion
When paid search isn't an option, we get inventive. There are more tools than ever to promote a new website.
Organic Results
on social media (Twitter, Instagram, TikTok, LinkedIn)
Marketing with content that is compelling
Link Creation
Listings in directories
references made in blog articles and on other websites
Forum entries
The Beginning of the Journey
As I've labored to construct my software, I've pondered a new mantra. Not sure where that originated from, but I like it. I'll live by it and teach my kids:
“Do the work.”
Atown Research
2 years ago
Meet the One-Person Businesses Earning Millions in Sales from Solo Founders
I've spent over 50 hours researching one-person firms, which interest me. I've found countless one-person enterprises that made millions on the founder's determination and perseverance.
Throughout my investigation, I found three of the most outstanding one-person enterprises. These enterprises show that people who work hard and dedicate themselves to their ideas may succeed.
Eric Barone (@ConcernedApe) created Stardew Valley in 2011 to better his job prospects. Eric loved making the game, in which players inherit a farm, grow crops, raise livestock, make friends with the villagers, and form a family.
Eric handled complete game production, including 3D graphics, animations, and music, to maintain creative control. He stopped job hunting and worked 8-15 hours a day on the game.
Eric developed a Stardew Valley website and subreddit to engage with gamers and get feedback. Eric's devoted community helped him meet Steam's minimum vote requirement for single creators.
Stardew Valley sold 1 million copies in two months after Eric launched it for $15 in 2016. The game has sold 20 million copies and made $300 million.
The game's inexpensive price, outsourcing of PR, marketing, and publication, and loyal player base helped it succeed. Eric has turned down million-dollar proposals from Sony and Nintendo to sell the game and instead updates and improves it. Haunted Chocolatier is Eric's new game.
Is farming not profitable? Ask Stardew Valley creator Eric Barone.
Gary Brewer established BuiltWith to assist users find website technologies and services. BuiltWith boasts 3000 paying customers and $14 million in yearly revenue, making it a significant resource for businesses wishing to generate leads, do customer analytics, obtain business insight, compare websites, or search websites by keyword.
BuiltWith has one full-time employee, Gary, and one or two part-time contractors that help with the blog. Gary handles sales, customer service, and other company functions alone.
BuiltWith acquired popularity through blog promotions and a top Digg ranking. About Us, a domain directory, connected to BuiltWith on every domain page, boosting it. Gary introduced $295–$995 monthly subscriptions to search technology, keywords, and potential consumers in response to customer demand.
Gary uses numerous methods to manage a firm without staff. He spends one to two hours every day answering user queries, most of which are handled quickly by linking to BuiltWiths knowledge store. Gary creates step-by-step essays or videos for complex problems. Gary can focus on providing new features based on customer comments and requests since he makes it easy to unsubscribe.
BuiltWith is entirely automated and successful due to its unique approach and useful offerings. It works for Google, Meta, Amazon, and Twitter.
Digital Inspiration develops Google Documents, Sheets, and Slides plugins. Digital Inspiration, founded by Amit Agarwal, receives 5 million monthly visits and earns $10 million. 40 million individuals have downloaded Digital Inspirations plugins.
Amit started Digital Inspiration by advertising his blog at tech events and getting Indian filter blogs and other newspapers to promote his articles. Amit built plugins and promoted them on the blog once the blog acquired popularity, using ideas from comments, friends, and Reddit. Digital Inspiration has over 20 free and premium plugins.
Mail Merge, Notifications for Google Forms, YouTube Uploader, and Document Studio are some of Digital Inspiration's most popular plugins. Mail Merge allows users to send personalized emails in bulk and track email opens and clicks.
Since Amits manages Digital Inspiration alone, his success is astounding. Amit developed a successful company via hard work and creativity, despite platform dependence. His tale inspires entrepreneurs.
Stephen Moore
3 years ago
Adam Neumanns is working to create the future of living in a classic example of a guy failing upward.
The comeback tour continues…
First, he founded a $47 billion co-working company (sorry, a “tech company”).
He established WeLive to disrupt apartment life.
Then he created WeGrow, a school that tossed aside the usual curriculum to feed children's souls and release their potential.
He raised the world’s consciousness.
Then he blew it all up (without raising the world’s consciousness). (He bought a wave pool.)
Adam Neumann's WeWork business burned investors' money. The founder sailed off with unimaginable riches, leaving long-time employees with worthless stocks and the company bleeding money. His track record, which includes a failing baby clothing company, should have stopped investors cold.
Once the dust settled, folks went on. We forgot about the Neumanns! We forgot about the private jets, company retreats, many houses, and WeWork's crippling. In that moment, the prodigal son of entrepreneurship returned, choosing the blockchain as his industry. His homecoming tour began with Flowcarbon, which sold Goddess Nature Tokens to lessen companies' carbon footprints.
Did it work?
Of course not.
Despite receiving $70 million from Andreessen Horowitz's a16z, the project has been halted just two months after its announcement.
This triumph should lower his grade.
Neumann seems to have moved on and has another revolutionary idea for the future of living. Flow (not Flowcarbon) aims to help people live in flow and will launch in 2023. It's the classic Neumann pitch: lofty goals, yogababble, and charisma to attract investors.
It's a winning formula for one investment fund. a16z has backed the project with its largest single check, $350 million. It has a splash page and 3,000 rental units, but is valued at over $1 billion. The blog post praised Neumann for reimagining the office and leading a paradigm-shifting global company.
Flow's mission is to solve the nation's housing crisis. How? Idk. It involves offering community-centric services in apartment properties to the same remote workforce he once wooed with free beer and a pingpong table. Revolutionary! It seems the goal is to apply WeWork's goals of transforming physical spaces and building community to apartments to solve many of today's housing problems.
The elevator pitch probably sounded great.
At least a16z knows it's a near-impossible task, calling it a seismic shift. Marc Andreessen opposes affordable housing in his wealthy Silicon Valley town. As details of the project emerge, more investors will likely throw ethics and morals out the window to go with the flow, throwing money at a man known for burning through it while building toxic companies, hoping he can bank another fantasy valuation before it all crashes.
Insanity is repeating the same action and expecting a different result. Everyone on the Neumann hype train needs to sober up.
Like WeWork, this venture Won’tWork.
Like before, it'll cause a shitstorm.
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Jon Brosio
3 years ago
This Landing Page is a (Legal) Money-Printing Machine
and it’s easy to build.
A landing page with good copy is a money-maker.
Let's be honest, page-builder templates are garbage.
They can help you create a nice-looking landing page, but not persuasive writing.
Over the previous 90 days, I've examined 200+ landing pages.
What's crazy?
Top digital entrepreneurs use a 7-part strategy to bring in email subscribers, generate prospects, and (passively) sell their digital courses.
Steal this 7-part landing page architecture to maximize digital product sales.
The offer
Landing pages require offers.
Newsletter, cohort, or course offer.
Your reader should see this offer first. Includind:
Headline
Imagery
Call-to-action
Clear, persuasive, and simplicity are key. Example: the Linkedin OS course home page of digital entrepreneur Justin Welsh offers:
A distinctly defined problem
Everyone needs an enemy.
You need an opponent on your landing page. Problematic.
Next, employ psychology to create a struggle in your visitor's thoughts.
Don't be clever here; label your customer's problem. The more particular you are, the bigger the situation will seem.
When you build a clear monster, you invite defeat. I appreciate Theo Ohene's Growth Roadmaps landing page.
Exacerbation of the effects
Problem identification doesn't motivate action.
What would an unresolved problem mean?
This is landing page copy. When you describe the unsolved problem's repercussions, you accomplish several things:
You write a narrative (and stories are remembered better than stats)
You cause the reader to feel something.
You help the reader relate to the issue
Important!
My favorite script is:
"Sure, you can let [problem] go untreated. But what will happen if you do? Soon, you'll begin to notice [new problem 1] will start to arise. That might bring up [problem 2], etc."
Take the copywriting course, digital writer and entrepreneur Dickie Bush illustrates below when he labels the problem (see: "poor habit") and then illustrates the repercussions.
The tale of transformation
Every landing page needs that "ah-ha!" moment.
Transformation stories do this.
Did you find a solution? Someone else made the discovery? Have you tested your theory?
Next, describe your (or your subject's) metamorphosis.
Kieran Drew nails his narrative (and revelation) here. Right before the disclosure, he introduces his "ah-ha!" moment:
Testimonials
Social proof completes any landing page.
Social proof tells the reader, "If others do it, it must be worthwhile."
This is your argument.
Positive social proof helps (obviously).
Offer "free" training in exchange for a testimonial if you need social evidence. This builds social proof.
Most social proof is testimonies (recommended). Kurtis Hanni's creative take on social proof (using a screenshot of his colleague) is entertaining.
Bravo.
Reveal your offer
Now's the moment to act.
Describe the "bundle" that provides the transformation.
Here's:
Course
Cohort
Ebook
Whatever you're selling.
Include a product or service image, what the consumer is getting ("how it works"), the price, any "free" bonuses (preferred), and a CTA ("buy now").
Clarity is key. Don't make a cunning offer. Make sure your presentation emphasizes customer change (benefits). Dan Koe's Modern Mastery landing page makes an offer. Consider:
An ultimatum
Offering isn't enough.
You must give your prospect an ultimatum.
They can buy your merchandise from you.
They may exit the webpage.
That’s it.
It's crucial to show what happens if the reader does either. Stress the consequences of not buying (again, a little consequence amplification). Remind them of the benefits of buying.
I appreciate Charles Miller's product offer ending:
The top online creators use a 7-part landing page structure:
Offer the service
Describe the problem
Amplify the consequences
Tell the transformational story
Include testimonials and social proof.
Reveal the offer (with any bonuses if applicable)
Finally, give the reader a deadline to encourage them to take action.
Sequence these sections to develop a landing page that (essentially) prints money.
Robert Kim
3 years ago
Crypto Legislation Might Progress Beyond Talk in 2022
Financial regulators have for years attempted to apply existing laws to the multitude of issues created by digital assets. In 2021, leading federal regulators and members of Congress have begun to call for legislation to address these issues. As a result, 2022 may be the year when federal legislation finally addresses digital asset issues that have been growing since the mining of the first Bitcoin block in 2009.
Digital Asset Regulation in the Absence of Legislation
So far, Congress has left the task of addressing issues created by digital assets to regulatory agencies. Although a Congressional Blockchain Caucus formed in 2016, House and Senate members introduced few bills addressing digital assets until 2018. As of October 2021, Congress has not amended federal laws on financial regulation, which were last significantly revised by the Dodd-Frank Act in 2010, to address digital asset issues.
In the absence of legislation, issues that do not fit well into existing statutes have created problems. An example is the legal status of digital assets, which can be considered to be either securities or commodities, and can even shift from one to the other over time. Years after the SEC’s 2017 report applying the definition of a security to digital tokens, the SEC and the CFTC have yet to clarify the distinction between securities and commodities for the thousands of digital assets in existence.
SEC Chair Gary Gensler has called for Congress to act, stating in August, “We need additional Congressional authorities to prevent transactions, products, and platforms from falling between regulatory cracks.” Gensler has reached out to Sen. Elizabeth Warren (D-Ma.), who has expressed her own concerns about the need for legislation.
Legislation on Digital Assets in 2021
While regulators and members of Congress talked about the need for legislation, and the debate over cryptocurrency tax reporting in the 2021 infrastructure bill generated headlines, House and Senate bills proposing specific solutions to various issues quietly started to emerge.
Digital Token Sales
Several House bills attempt to address securities law barriers to digital token sales—some of them by building on ideas proposed by regulators in past years.
Exclusion from the definition of a security. Congressional Blockchain Caucus members have been introducing bills to exclude digital tokens from the definition of a security since 2018, and they have revived those bills in 2021. They include the Token Taxonomy Act of 2021 (H.R. 1628), successor to identically named bills in 2018 and 2019, and the Securities Clarity Act (H.R. 4451), successor to a 2020 namesake.
Safe harbor. SEC Commissioner Hester Peirce proposed a regulatory safe harbor for token sales in 2020, and two 2021 bills have proposed statutory safe harbors. Rep. Patrick McHenry (R-N.C.), Republican leader of the House Financial Services Committee, introduced a Clarity for Digital Tokens Act of 2021 (H.R. 5496) that would amend the Securities Act to create a safe harbor providing a grace period of exemption from Securities Act registration requirements. The Digital Asset Market Structure and Investor Protection Act (H.R. 4741) from Rep. Don Beyer (D-Va.) would amend the Securities Exchange Act to define a new type of security—a “digital asset security”—and add issuers of digital asset securities to an existing provision for delayed registration of securities.
Stablecoins
Stablecoins—digital currencies linked to the value of the U.S. dollar or other fiat currencies—have not yet been the subject of regulatory action, although Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell have each underscored the need to create a regulatory framework for them. The Beyer bill proposes to create a regulatory regime for stablecoins by amending Title 31 of the U.S. Code. Treasury Department approval would be required for any “digital asset fiat-based stablecoin” to be issued or used, under an application process to be established by Treasury in consultation with the Federal Reserve, the SEC, and the CFTC.
Serious consideration for any of these proposals in the current session of Congress may be unlikely. A spate of autumn bills on crypto ransom payments (S. 2666, S. 2923, S. 2926, H.R. 5501) shows that Congress is more inclined to pay attention first to issues that are more spectacular and less arcane. Moreover, the arcaneness of digital asset regulatory issues is likely only to increase further, now that major industry players such as Coinbase and Andreessen Horowitz are starting to roll out their own regulatory proposals.
Digital Dollar vs. Digital Yuan
Impetus to pass legislation on another type of digital asset, a central bank digital currency (CBDC), may come from a different source: rivalry with China.
China established itself as a world leader in developing a CBDC with a pilot project launched in 2020, and in 2021, the People’s Bank of China announced that its CBDC will be used at the Beijing Winter Olympics in February 2022. Republican Senators responded by calling for the U.S. Olympic Committee to forbid use of China’s CBDC by U.S. athletes in Beijing and introducing a bill (S. 2543) to require a study of its national security implications.
The Beijing Olympics could motivate a legislative mandate to accelerate implementation of a U.S. digital dollar, which the Federal Reserve has been in the process of considering in 2021. Antecedents to such legislation already exist. A House bill sponsored by 46 Republicans (H.R. 4792) has a provision that would require the Treasury Department to assess China’s CBDC project and report on the status of Federal Reserve work on a CBDC, and the Beyer bill includes a provision amending the Federal Reserve Act to authorize issuing a digital dollar.
Both parties are likely to support creating a digital dollar. The Covid-19 pandemic made a digital dollar for delivery of relief payments a popular idea in 2020, and House Democrats introduced bills with provisions for creating one in 2020 and 2021. Bipartisan support for a bill on a digital dollar, based on concerns both foreign and domestic in nature, could result.
International rivalry and bipartisan support may make the digital dollar a gateway issue for digital asset legislation in 2022. Legislative work on a digital dollar may open the door for considering further digital asset issues—including the regulatory issues that have been emerging for years—in 2022 and beyond.
Sukhad Anand
3 years ago
How Do Discord's Trillions Of Messages Get Indexed?
They depend heavily on open source..
Discord users send billions of messages daily. Users wish to search these messages. How do we index these to search by message keywords?
Let’s find out.
Discord utilizes Elasticsearch. Elasticsearch is a free, open search engine for textual, numerical, geographical, structured, and unstructured data. Apache Lucene powers Elasticsearch.
How does elastic search store data? It stores it as numerous key-value pairs in JSON documents.
How does elastic search index? Elastic search's index is inverted. An inverted index lists every unique word in every page and where it appears.
4. Elasticsearch indexes documents and generates an inverted index to make data searchable in near real-time. The index API adds or updates JSON documents in a given index.
Let's examine how discord uses Elastic Search. Elasticsearch prefers bulk indexing. Discord couldn't index real-time messages. You can't search posted messages. You want outdated messages.
6. Let's check what bulk indexing requires.
1. A temporary queue for incoming communications.
2. Indexer workers that index messages into elastic search.
Discord's queue is Celery. The queue is open-source. Elastic search won't run on a single server. It's clustered. Where should a message go? Where?
8. A shard allocator decides where to put the message. Nevertheless. Shattered? A shard combines elastic search and index on. So, these two form a shard which is used as a unit by discord. The elastic search itself has some shards. But this is different, so don’t get confused.
Now, the final part is service discovery — to discover the elastic search clusters and the hosts within that cluster. This, they do with the help of etcd another open source tool.
A great thing to notice here is that discord relies heavily on open source systems and their base implementations which is very different from a lot of other products.