🗞 What's New: I have an idea...now what?

So, you've got this great idea...what's the next step?

• Whether you are a first time founder, or a seasoned founder looking to launch a new product, the tips below can help you get going on your new idea!
• Check out the learnings below from a company that offered a free trial, removed it, then brought it back. Hint: Removing the free trial helped reduce the noise, increasing focus on the product roadmap.
• Founder Eric Lam hit 1,000 newsletter subscribers in 12 days without spending money on ads. Here's how he leveraged Facebook Groups to attract interested prospects and keep the momentum going.

This issue is sponsored by MentorCruise! Starting and growing a company is hard, and it sucks trying to figure out everything on your own. MentorCruise can pair you with an experienced startup advisor who will come up with a winning playbook for your specific challenges. Click here to learn more!

Want to advertise your brand to 120,000 indie hackers in a future issue of the newsletter? Reply to this email. —Channing

💡 I've Got an Idea...What's Next?

by K. Shrinivas

I've been lurking here on Indie Hackers for some time. I've read many posts, been inspired by many success stories, and dreamed of launching something one day. I have an idea, but with so many posts going around, I am confused about where to start.

Would love some advice!

Narrow down your audience

Mac says that, before you build anything, do these two things:

1. Go to Google Keyword Planner to see if anyone is searching for solutions to the problem you're solving (or if they're straight up searching for your product name).

2. If you don't see your audience coming through search, speak with your target audience in any way possible. That can be going on Reddit and asking questions, calling up companies, messaging people on LinkedIn and Facebook, or various other things.

You'll find out if people are having a problem, what tools they're currently using to solve their problem, and if they will pay for your solution.

At most, you want to just build a simple landing page. Explain what you do, include demos of what your product will look like, collect emails, and take early access payments.

These steps worked for building my site, Toblio!

Take small bites

David Frankle recommends breaking your idea down into smaller, manageable tasks:

Start by researching similar products or services in the market to understand what works and what doesn't. This will help you refine your idea and identify potential competitors.

Next, focus on building a minimum viable product (MVP). This is a simplified version of your product that has just enough features to test its viability. This will allow you to gather valuable feedback from early users before investing too much time and resources into development.

Remember, every successful project started with an idea and someone taking that first step. You've got this!

Talk, talk, talk

Upen wrote about this at length at Zero To Founder, but here are some quick action items:

• Start with a landing page.
• Build your waitlist by talking about your product in various forums, like Indie Hackers, Reddit, and Facebook Groups.
• Share with the audience how your brainstormed your idea and finalized the domain. Then, show how you plan to build the product, and drive traction by building in public.
• Allocate time for marketing your landing page.
• Talk one-on-one with your waitlist users to see what they are looking for. I recommend reading The Mom Test for tips on interviewing customers.
• If you still have no luck, try running ads. Stick to a budget of less than $100.

A quick list

Pdyc lays out a quick list:

• Create a landing page that clearly explains what benefits your product provides.
• Explain different use cases of your product on a different page.
• Create a list of potential customers and talk to them. Keep tweaking your messaging until you get commitment from at least five customers who will buy the product when it is ready.
• Start development, and build in public on different social media channels. This will keep you accountable, create an SEO trail, and keep your potential customers engaged.
• Launch on Product Hunt, Reddit, Hacker News, etc. Also, get your product listed in different startup directories.

I think this is enough for you to get to launch!

What are your tips for moving forward on an idea? Let's chat below!

Discuss this story.

📰 In the News

from the Growth Trends newsletter by Darko

🤖 Facebook is testing an AI-generated "Advanced Stories" feature.

📝 Here are new tips on the latest marketing trends.

💰 More DTC brands are seeking new tools to expand to wholesale.

💻 GA4's new experimentation integrations are now rolling out.

🛍 TikTok has launched a new push on in-stream shopping.

Check out Growth Trends for more curated news items focused on user acquisition and new product ideas.

🆓 Throwback to a Free Plan

by Anton Zorin

The debate over offering a free plan vs. a free trial has been raging on for quite some time. We at ProdCamp grappled with this issue a couple of years ago. When testing the hypothesis for our new product, we didn't want to fall into the trap of attracting curious early adopters who had no long-term intent to use the product.

We ended up getting rid of the free plan to focus on delivering value to our paying customers.

After removing the free plan and experimenting with both options, we eventually decided to bring it back. We learned these five lessons in the process!

Bringing free back

1. The trial period is not enough: People want to explore a product at their own pace without time constraints. A free plan allows them to do so, increasing the chances of converting them to paid customers.

2. Fewer signups made it easier to distinguish signal from noise: With fewer signups, we had fewer people leaving feedback on what we should work on. This helped us keep our focus on the features that mattered most.

3. A reverse trial helps reengage customers: If someone tries the product, but doesn't convert to a paid plan, offering a free plan can lower the barrier of reengaging with them to remind them of the product's value.

4. Not having a free plan led to fewer signups: People who don't have the budget approved for a product may never sign up if they don't have the option to try it for free. A free plan attracts potential customers who are not yet ready to pay, but may become loyal customers in the future.

5. The free plan is an acquisition channel: A free plan can be a valuable tool for lead acquisition, helping to fill the top of your funnel with potential customers who can be nurtured (and eventually converted to paid plans).

It's important to note that a free plan is not a replacement for low cost subscriptions. Free plans usually offer some of the product's functionality for free, but customers who need more features will eventually need to upgrade to a paid plan.

In conclusion, while a free plan may not work for every business, it's worth considering the benefits it can bring, such as increased signups, customer engagement, and feedback. By experimenting with different options, you can find the right balance between a free plan and a paid plan that works best for your business.

We're excited to announce that we've launched ProdCamp Free on Product Hunt! Your support is very much appreciated.

What have you learned from offering a free plan? Share below!

Discuss this story.

🌐 Best Around the Web: Posts Submitted to Indie Hackers This Week

🌸 What is your April startup? Posted by Patrick.

📕 The cold emailing guide that I wish I'd had when I started. Posted by Niclas Timm.

👥 Finding accountability groups for founders. Posted by Jayjen Lee.

⚖ Should I shut my startup down? Posted by Simon Fletcher.

🛠 29 software platforms to help grow your business. Posted by Adam Kershner.

🤔 Do we need more AI newsletters? Posted by Shivam.

Want a shout-out in next week's Best of Indie Hackers? Submit an article or link post on Indie Hackers whenever you come across something you think other indie hackers will enjoy.

📰 Eric Lam Hit 1K Newsletter Subscribers in 12 Days

by Eric Lam

Hi, founders! I'm Eric Lam, and I have been building a weekly startup ideas newsletter, ExplodingIdeas. I got my first 1K subscribers in 12 days with no paid ads!

Here's how.

The backstory

Since January, I have been testing out new business ideas. I've had a couple of successful bootstrapped businesses in the past; I sold one, and still hold the other. When testing new ideas, I fully bootstrap them, meaning that I’m not propping them up with money I've made in other areas of my life. I give myself a budget of under $1K to test the market, as I want the product to stand completely on its own.

The idea

I've successfully conducted market research in the past, for myself and for a major organization.

Essentially, I decided to provide market research on business ideas in emerging niches, and put it out for people to read. I decided to test this new idea to see if others were interested.

To test the idea, I posted about the site in side hustle Facebook Groups. I decided to make the logo yellow so that, when it’s on someone's newsfeed, they notice it immediately. I hoped that would increase engagement a bit. I also tried posting memes with my content, but that didn’t work well; they looked too much like ads.

I posted about the website in about 10 Facebook Groups (each with 50K-100K members), and got 37 signups by the next day. Over the next week, I took about an hour each day to join Facebook Groups relating to side hustles, online businesses, etc., and posted in them. This quickly started gaining momentum. I also shared on Indie Hackers and Reddit.

This technique of posting in groups and forums was pretty successful. People naturally engaged, then checked out the website. This led to 1K subscribers in the first 12 days!

Why it worked

So, here’s why I think it worked:

1. The product appeals to a common desire: Making money.

2. Whenever there’s an economic downturn, people's fundamental needs are impacted. For example, people are losing jobs or dealing with changes in finances, so many are trying to figure out how to make more money.

3. There’s a large population that has an interest in building a side hustle or a full-time business. I understood my audience well.

The lessons

If you want to bootstrap something, you need high momentum. People should pull towards it. It should not be a push from your end, but a pull from their end.

Don't settle for boring ideas that are slogs. The world will tell you when you have something epic.

Sometimes, my ego gets hurt when I put out an idea and no one likes it, or I went way over budget putting it together. But self-awareness is your best friend. If you hold onto a bad idea just to save your ego, you're going to pay for it down the line.

Pursue momentum-driven ideas. Keep rolling the dice until you hit something where you can feel the momentum!

Discuss this story.

🐦 The Tweetmaster's Pick

by Tweetmaster Flex

I post the tweets indie hackers share the most. Here's today's pick:

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Special thanks to Jay Avery for editing this issue, to Gabriella Federico for the illustrations, and to K. Shrinivas, Darko, Anton Zorin, and Eric Lam for contributing posts. —Channing