🗞 What's New: Is hustle culture harming founders?

Hustle culture has its place, but it can also be harmful:

• Is it best to hustle, or is slow and steady the move? Hustling helps in the early stages, but prioritize finding your flow to avoid burnout.
• Creating content is valuable for marketing, but it can also provide a revenue stream. Consider online courses, selling merch, and ad revenue.
• Frank Sondors lost nearly everything during the crypto winter, but he recently hit $5K MRR after going all-in with Salesforge.

Want to grow your business? Try running a promo in the Indie Hackers newsletter to get in front of nearly 70,000 founders.

by James Fleischmann

Hustle culture vs. calm building. Which works best for indie hackers?

Hustle health

Hiram Nuñez:

I followed all the hustle culture rules and ignored my physical and mental health. I turned down social invites so I could hustle, while everyone else was out having a good time. I neglected the people that were closest to me.

The result? The worst mental and physical health of my life, fractured friendships, severe depression, and ultimately losing the one person that I never thought I could lose: My girlfriend, best friend, and then life partner that I knew for half my life.

Kyle Gawley:

When I was a hustler, I wanted to do it forever. But I ended up in the hospital from stress.

Is slower better for business?

Yishi Zuo:

If you have the ability to slow build, I think that is the best option.

Ability is not only about the financial means (savings, investment, or revenue), but also pertains to confidence and experience.

Clo Spaleniec:

Building slow and steady should actually be the default option, while "hustle mode" is the exception.

Hustling can give you momentum and social media praise, but it's also a gateway to burnout. Having time to relax is a great motor for creativity and innovation.

Kyle:

Sometimes, [I feel like I'm going too slow], but I had this feeling when I was a hustler, too. I think this feeling stems from a different problem.

When hustling is needed

Clo:

If you're building an app around something that's all hype, or racing competitors to be first to market, then hustling may be necessary. Make sure to slow down again if signs of burnout appear, though.

Mitko Karshovski:

I actually had a really good conversation about this on my podcast. The quick summary is that "hustle" is a key ingredient in most early-stage businesses. There is a lot of movement and action in a relatively short period of time, so you will most likely need to hustle for a while.

The important thing, however, is to turn that mode off once you have some traction.

Channing Allen:

I am by default a restless "doer." My mind constantly zooms with new ideas and juicy ambitions. I'm fiercely competitive. To many, all of this seems overwhelming, but to me, it's highly fulfilling. Every day feels like a thrilling video game.

Finding your flow

Kyle:

Develop a work schedule that will enable you to be consistent for the next five years. That will look different for everyone, but the important thing is consistently delivering over the long term. It's amazing how many tasks are busywork that don't actually drive the business forward.

Hiram:

Experiment, prioritize, and determine what you're willing to sacrifice. Figure out if you're willing to live with the consequences of your decisions.

Be moral. Operate ethically.

Discuss this story.

from the Growth Trends newsletter

💰 TikTok will take on Amazon by funding Black Friday deals.

👀 Important social media trends that founders show know about.

💻 Using Quora for SEO and research.

❌ Google Domains officially halts domain selling.

🌟 How to run team meetings like a boss.

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

by Thomas Griffin

Content creation can be a marketing tool, and a way to earn money to support your business. Here's how to make your content work for you!

Online courses

Create an online course and offer educational material to your audience. This allows you to create content around your area of expertise.

Brand partnerships

You can generate stable revenue from brand deals and partnerships.

This is a win-win for both brands and content creators. Brands get to convey their message to the masses, and content creators generate revenue by promoting the solutions offered by their partners.

Paywall

It's reported that 48% of consumers don't mind paying a subscription fee to access members-only content from their favorite creators.

Give your audience access to your exclusive content for a charge. You can paywall your content either by leveraging platforms that allow you to welcome paid subscriptions, or by creating a membership site.

Selling merch

People like to support their favorite founders and creators. Offering merch can be a fun way to keep your audience engaged.

Launching your merchandise is fairly easy. Just look for third-party vendors who can help you launch branded products.

Affiliate programs

Affiliate marketing is on the rise, as indie hackers and large companies actively onboard influencers who can reach their target audiences.

It's reported that 72% of consumers make buying decisions based on the reviews and recommendations they see online. A well thought out affiliate program can open up great opportunities for founders and content creators.

Ad revenue

Leverage your platform of choice to monetize your content and generate revenue through ads. Also consider Google AdSense to grow your income by displaying ads on your website.

If your website attracts a significant number of visitors each month, advertisers may also reach out to you and provide you with an opportunity to earn money through direct advertising.

There are a variety of options for you to generate ad revenue. Just go with the ones that pique your interest.

Tips and donations

There are a variety of platforms, like Twitch and YouTube, that allow you to stream your content live and accept tips from your viewers in the process.

You can also consider creating an account on Patreon or Ko-fi, and start receiving donations from your followers right away.

Discuss this story.

This issue is sponsored by Mercury Raise

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by James Fleischmann

During the crypto winter, Frank Sondors lost nearly everything he'd invested. Soon after, he quit his job and went all-in on a product that he hadn't even launched yet.

His savings kept him afloat, but his runway is getting tight. The good news is that he just hit $5K MRR, and the business is growing quickly!

The overview

Frank has been working on Salesforge, a programmatic cold emailing tool, since January. He launched the product in June, and he's already profitable with $5K MRR and 49 customers.

Here's a look at his revenue and funds:

• Revenue: $5K MRR.
• Business account: $2.5K.
• Personal account: $9K.

Personal expenses:

• Mortgage: $1.5K per month ($100K+ debt).
• Food: $500 per month.
• Gas, car expenses, misc.: $200 per month.
• Total: $2.5K per month.

Runway running out

Frank's living off of the money he saved when he worked in sales, which provided enough runway for him to work full-time without pay for about a year.

But the "no pay" thing is draining his accounts, so he hopes to change that by October.

He'll start by paying himself ~$2.5K per month, which he says is the bare minimum he needs to survive with his wife and two children.

Less control, more speed

While Frank prefers the idea of bootstrapping, he does plan to take VC funding in order to scale quickly. For him, speed > control.

One reason that the product grew so quickly was because Frank buys leads from ContactOut and Prospectss. This costs him around $150 per month. He also spends on sponsorships, which cost $500-$1K per month.

The crypto winter

Frank invests in crypto and crowdfunding (SaaS, fintech, and marketplaces).

He's invested in crypto since 2017. It wiped out most of the value of the assets he has, but he's looking at a bull run in the second half of the year to recover most of the value, so he's not too worried about it. He actually recommends that everyone stock up right now!

Advice for indie hackers

• Invest in experiences and memories over things.

• Don't waste your time budgeting. You don't need to plan finances. Frank says you simply have to be frugal, and your finances will be fine.

• Start now!

Discuss this story.

by Tweetmaster Flex

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

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Also, you can submit a section for us to include in a future newsletter.

Special thanks to Jay Avery for editing this issue, to Gabriella Federico for the illustrations, and to James Fleischmann, Darko, and Thomas Griffin for contributing posts. —Channing