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I say this a lot - "Put more buy buttons on the internet"
It's a catchy phrase, but there's a lot of nuance around it as well.
It works differently for different stages in your journey.
Let me explain -
Before you have an idea that works
When you're just starting out, growth happens in spurts.
You build your first side project, build a tiny tool, publish a blog post, take a course.
You see massive growth in your skills and knowledge. But with each subsequent iteration, growth starts to slow down. The next tool, the next blog post, the next course doesn't add as much to your skills and knowledge.
The next growth spurt happens when you decide to sell something.
That's when you go out of your comfort zone and put a buy button under something you created.
It's hard, you're putting yourself out there, facing the risk of rejection.
But this is when you know a product is validated. Wait-list signups and Twitter likes don't mean anything. Only when a user has paid for a product can you say that it's actually solving a need in the market.
The real test of a product is a buy button.
And this is exactly how you grow more, you learn how this online business thing works.
I went a bit overboard with this idea last year and launched 25 projects in 25 weeks.
One of the most tiring yet enriching experiences of my life. Anyway, coming back to the point -
When you put a buy button under your creation, few people buy from you, most people don't, but you learn a lot either way.
You understands marketing and sales in tid bits.
Then you launch another product, put a buy button under it, and learn a bit more about marketing and sales.
You keep doing this until you see something that's working.
You keep putting buy buttons on the internet.
But beyond a point, putting more buy buttons isn't going to lead to more growth.
You need to figure out what's working and double down on it. You have to go back to building and improve your offerings. Delight your customers so word of mouth can spread.
Eventually you hit up on a product that truly works. You have product market fit, or audience-offer-channel fit.
Now, your strategy needs to change.
After you have an idea that works
We live in the times of extreme platform risk.
Whichever growth or monetization channels work for you today, may not work for you tomorrow.
That's why you need to diversify.
You need to create multiple revenue streams with the same product.
You need to put more buy buttons on the internet... of the same product!
For SaaS products -
- For software this means trying out new marketing channels, or trying to sell slightly different versions of the same product on different platforms.
- Elephas(my indie SaaS app) now sells on 3 channels - own website, iOS app store, and SetApp bundle. (More in this tweet). We're planning more channels soon.
For information products -
- For info products this means repurposing in different formats and platforms.
- eBooks, courses, email courses, cohort courses. On different platforms like Gumroad, Udemy, Skillshare, Amazon.
Basically, once you know something works, you publish it in as many different channels and formats as you can.
That's how you safeguard against platform risk, and maximize your revenue potential.
You can of course move on to different products and ideas as well. Maybe do multiple projects in parallel, but you run the risk of burning out and not doing justice to any 1 project.
It's a personal decision. Do it if you can, but stick to one thing if you want to reap maximum rewards.
I always have 2 or 3 projects running in parallel, but I don't prescribe that to anyone, I have a bad case of shiny object syndrome. (I've written about it before)
Original tweet that inspired this post -
That's it for today folks. Hope you found this useful.
If you did, please share it with a friend. And do signup to receive more such posts every week in your inbox.
🔗 Super Links
Useful links you don't want to miss -
- Have you checked out Nathan Barry’s new newsletter? Perfect for content creators - Learn how to make $10K from your first book.
- The story of Lukas and Liz Hermann of Stage Timer | IH podcast.
- How to build Digital Leverage | From Justin Welsh
- New Opportunities in the creator economy (last week’s post)
🤗 How can I help?
Whenever you’re ready, there are a few ways I can help you -
- 🫂 The entrepreneur’s journey is long and hard, don’t go at it alone. Join a tight knit group of creators, indie hackers and solopreneurs. Get clarity, direction and focus.
- 💸 An info product can set you free, it can help you grow your audience and income. Learn the step by step framework to build and launch an info product in 14 days. Buy Now
