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.”
Tim Denning
3 years ago
One of the biggest publishers in the world offered me a book deal, but I don't feel deserving of it.
My ego is so huge it won't fit through the door.
I don't know how I feel about it. I should be excited. Many of you have this exact dream to publish a book with a well-known book publisher and get a juicy advance.
Let me dissect how I'm thinking about it to help you.
How it happened
An email comes in. A generic "can we put a backlink on your website and get a freebie" email.
Almost deleted it.
Then I noticed the logo. It seemed shady. I found the URL. Check. I searched the employee's LinkedIn. Legit. I avoided middlemen. Check.
Mixed feelings. LinkedIn hasn't valued my writing for years. I'm just a guy in an unironed t-shirt whose content they sell advertising against.
They get big dollars. I get $0 and a few likes, plus some email subscribers.
Still, I felt adrenaline for hours.
I texted a few friends to see how they felt. I wrapped them.
Messages like "No shocker. You're entertaining online." I didn't like praises, so I blushed.
The thrill faded after hours. Who knows?
Most authors desire this chance.
"You entitled piece of crap, Denning!"
You may think so. Okay. My job is to stand on the internet and get bananas thrown at me.
I approached writing backwards. More important than a book deal was a social media audience converted to an email list.
Romantic authors think backward. They hope a fantastic book will land them a deal and an audience.
Rarely occurs. So I never pursued it. It's like permission-seeking or the lottery.
Not being a professional writer, I've never written a good book. I post online for fun and to express my opinions.
Writing is therapeutic. I overcome mental illness and rebuilt my life this way. Without blogging, I'd be dead.
I've always dreamed of staying alive and doing something I love, not getting a book contract. Writing is my passion. I'm a winner without a book deal.
Why I was given a book deal
You may assume I received a book contract because of my views or follows. Nope.
They gave me a deal because they like my writing style. I've heard this for eight years.
Several authors agree. One asked me to improve their writer's voice.
Takeaway: highlight your writer's voice.
What if they discover I'm writing incompetently?
An edited book is published. It's edited.
I need to master writing mechanics, thus this concerns me. I need help with commas and sentence construction.
I must learn verb, noun, and adjective. Seriously.
Writing a book may reveal my imposter status to a famous publisher. Imagine the email
"It happened again. He doesn't even know how to spell. He thinks 'less' is the correct word, not 'fewer.' Are you sure we should publish his book?"
Fears stink.
I'm capable of blogging. Even listicles. So what?
Writing for a major publisher feels advanced.
I only blog. I'm good at listicles. Digital media executives have criticized me for this.
It is allegedly clickbait.
Or it is following trends.
Alternately, growth hacking.
Never. I learned copywriting to improve my writing.
Apple, Amazon, and Tesla utilize copywriting to woo customers. Whoever thinks otherwise is the wisest person in the room.
Old-schoolers loathe copywriters.
Their novels sell nothing.
They assume their elitist version of writing is better and that the TikTok generation will invest time in random writing with no subheadings and massive walls of text they can't read on their phones.
I'm terrified of book proposals.
My friend's book proposal suggestion was contradictory and made no sense.
They told him to compose another genre. This book got three Amazon reviews. Is that a good model?
The process disappointed him. I've heard other book proposal horror stories. Tim Ferriss' book "The 4-Hour Workweek" was criticized.
Because he has thick skin, his book came out. He wouldn't be known without that.
I hate book proposals.
An ongoing commitment
Writing a book is time-consuming.
I appreciate time most. I want to focus on my daughter for the next few years. I can't recreate her childhood because of a book.
No idea how parents balance kids' goals.
My silly face in a bookstore. Really?
Genuine thought.
I don't want my face in bookstores. I fear fame. I prefer anonymity.
I want to purchase a property in a bad Australian area, then piss off and play drums. Is bookselling worth it?
Are there even bookstores anymore?
(Except for Ryan Holiday's legendary Painted Porch Bookshop in Texas.)
What's most important about books
Many were duped.
Tweets and TikTok hopscotch vids are their future. Short-form content creates devoted audiences that buy newsletter subscriptions.
Books=depth.
Depth wins (if you can get people to buy your book). Creating a book will strengthen my reader relationships.
It's cheaper than my classes, so more people can benefit from my life lessons.
A deeper justification for writing a book
Mind wandered.
If I write this book, my daughter will follow it. "Look what you can do, love, when you ignore critics."
That's my favorite.
I'll be her best leader and teacher. If her dad can accomplish this, she can too.
My kid can read my book when I'm gone to remember her loving father.
Last paragraph made me cry.
The positive
This book thing might make me sound like Karen.
The upside is... Building in public, like I have with online writing, attracts the right people.
Proof-of-work over proposals, beautiful words, or huge aspirations. If you want a book deal, try writing online instead of the old manner.
Next steps
No idea.
I'm a rural Aussie. Writing a book in the big city is intimidating. Will I do it? Lots to think about. Right now, some level of reflection and gratitude feels most appropriate.
Sometimes when you don't feel worthy, it gives you the greatest lessons. That's how I feel about getting offered this book deal.
Perhaps you can relate.
Aure's Notes
3 years ago
I met a man who in just 18 months scaled his startup to $100 million.
A fascinating business conversation.
This week at Web Summit, I had mentor hour.
Mentor hour connects startups with experienced entrepreneurs.
The YC-selected founder who mentored me had grown his company to $100 million in 18 months.
I had 45 minutes to question him.
I've compiled this.
Context
Founder's name is Zack.
After working in private equity, Zack opted to acquire an MBA.
Surrounded by entrepreneurs at a prominent school, he decided to become one himself.
Unsure how to proceed, he bet on two horses.
On one side, he received an offer from folks who needed help running their startup owing to lack of time. On the other hand, he had an idea for a SaaS to start himself.
He just needed to validate it.
Validating
Since Zack's proposal helped companies, he contacted university entrepreneurs for comments.
He contacted university founders.
Once he knew he'd correctly identified the problem and that people were willing to pay to address it, he started developing.
He earned $100k in a university entrepreneurship competition.
His plan was evident by then.
The other startup's founders saw his potential and granted him $400k to launch his own SaaS.
Hiring
He started looking for a tech co-founder because he lacked IT skills.
He interviewed dozens and picked the finest.
As he didn't want to wait for his program to be ready, he contacted hundreds of potential clients and got 15 letters of intent promising they'd join up when it was available.
YC accepted him by then.
He had enough positive signals to raise.
Raising
He didn't say how many VCs he called, but he indicated 50 were interested.
He jammed meetings into two weeks to generate pressure and encourage them to invest.
Seed raise: $11 million.
Selling
His objective was to contact as many entrepreneurs as possible to promote his product.
He first contacted startups by scraping CrunchBase data.
Once he had more money, he started targeting companies with ZoomInfo.
His VC urged him not to hire salespeople until he closed 50 clients himself.
He closed 100 and hired a CRO through a headhunter.
Scaling
Three persons started the business.
He primarily works in sales.
Coding the product was done by his co-founder.
Another person performing operational duties.
He regretted recruiting the third co-founder, who was ineffective (could have hired an employee instead).
He wanted his company to be big, so he hired two young marketing people from a competing company.
After validating several marketing channels, he chose PR.
$100 Million and under
He developed a sales team and now employs 30 individuals.
He raised a $100 million Series A.
Additionally, he stated
He’s been rejected a lot. Like, a lot.
Two great books to read: Steve Jobs by Isaacson, and Why Startups Fail by Tom Eisenmann.
The best skill to learn for non-tech founders is “telling stories”, which means sales. A founder’s main job is to convince: co-founders, employees, investors, and customers. Learn code, or learn sales.
Conclusion
I often read about these stories but hardly take them seriously.
Zack was amazing.
Three things about him stand out:
His vision. He possessed a certain amount of fire.
His vitality. The man had a lot of enthusiasm and spoke quickly and decisively. He takes no chances and pushes the envelope in all he does.
His Rolex.
He didn't do all this in 18 months.
Not really.
He couldn't launch his company without private equity experience.
These accounts disregard entrepreneurs' original knowledge.
Hormozi will tell you how he founded Gym Launch, but he won't tell you how he had a gym first, how he worked at uni to pay for his gym, or how he went to the gym and learnt about fitness, which gave him the idea to open his own.
Nobody knows nothing. If you scale quickly, it's probable because you gained information early.
Lincoln said, "Give me six hours to chop down a tree, and I'll spend four sharpening the axe."
Sharper axes cut trees faster.
You might also like
Ashraful Islam
4 years ago
Clean API Call With React Hooks
| Photo by Juanjo Jaramillo on Unsplash |
Calling APIs is the most common thing to do in any modern web application. When it comes to talking with an API then most of the time we need to do a lot of repetitive things like getting data from an API call, handling the success or error case, and so on.
When calling tens of hundreds of API calls we always have to do those tedious tasks. We can handle those things efficiently by putting a higher level of abstraction over those barebone API calls, whereas in some small applications, sometimes we don’t even care.
The problem comes when we start adding new features on top of the existing features without handling the API calls in an efficient and reusable manner. In that case for all of those API calls related repetitions, we end up with a lot of repetitive code across the whole application.
In React, we have different approaches for calling an API. Nowadays mostly we use React hooks. With React hooks, it’s possible to handle API calls in a very clean and consistent way throughout the application in spite of whatever the application size is. So let’s see how we can make a clean and reusable API calling layer using React hooks for a simple web application.
I’m using a code sandbox for this blog which you can get here.
import "./styles.css";
import React, { useEffect, useState } from "react";
import axios from "axios";
export default function App() {
const [posts, setPosts] = useState(null);
const [error, setError] = useState("");
const [loading, setLoading] = useState(false);
useEffect(() => {
handlePosts();
}, []);
const handlePosts = async () => {
setLoading(true);
try {
const result = await axios.get(
"https://jsonplaceholder.typicode.com/posts"
);
setPosts(result.data);
} catch (err) {
setError(err.message || "Unexpected Error!");
} finally {
setLoading(false);
}
};
return (
<div className="App">
<div>
<h1>Posts</h1>
{loading && <p>Posts are loading!</p>}
{error && <p>{error}</p>}
<ul>
{posts?.map((post) => (
<li key={post.id}>{post.title}</li>
))}
</ul>
</div>
</div>
);
}
I know the example above isn’t the best code but at least it’s working and it’s valid code. I will try to improve that later. For now, we can just focus on the bare minimum things for calling an API.
Here, you can try to get posts data from JsonPlaceholer. Those are the most common steps we follow for calling an API like requesting data, handling loading, success, and error cases.
If we try to call another API from the same component then how that would gonna look? Let’s see.
500: Internal Server Error
Now it’s going insane! For calling two simple APIs we’ve done a lot of duplication. On a top-level view, the component is doing nothing but just making two GET requests and handling the success and error cases. For each request, it’s maintaining three states which will periodically increase later if we’ve more calls.
Let’s refactor to make the code more reusable with fewer repetitions.
Step 1: Create a Hook for the Redundant API Request Codes
Most of the repetitions we have done so far are about requesting data, handing the async things, handling errors, success, and loading states. How about encapsulating those things inside a hook?
The only unique things we are doing inside handleComments and handlePosts are calling different endpoints. The rest of the things are pretty much the same. So we can create a hook that will handle the redundant works for us and from outside we’ll let it know which API to call.
500: Internal Server Error
Here, this request function is identical to what we were doing on the handlePosts and handleComments. The only difference is, it’s calling an async function apiFunc which we will provide as a parameter with this hook. This apiFunc is the only independent thing among any of the API calls we need.
With hooks in action, let’s change our old codes in App component, like this:
500: Internal Server Error
How about the current code? Isn’t it beautiful without any repetitions and duplicate API call handling things?
Let’s continue our journey from the current code. We can make App component more elegant. Now it knows a lot of details about the underlying library for the API call. It shouldn’t know that. So, here’s the next step…
Step 2: One Component Should Take Just One Responsibility
Our App component knows too much about the API calling mechanism. Its responsibility should just request the data. How the data will be requested under the hood, it shouldn’t care about that.
We will extract the API client-related codes from the App component. Also, we will group all the API request-related codes based on the API resource. Now, this is our API client:
import axios from "axios";
const apiClient = axios.create({
// Later read this URL from an environment variable
baseURL: "https://jsonplaceholder.typicode.com"
});
export default apiClient;
All API calls for comments resource will be in the following file:
import client from "./client";
const getComments = () => client.get("/comments");
export default {
getComments
};
All API calls for posts resource are placed in the following file:
import client from "./client";
const getPosts = () => client.get("/posts");
export default {
getPosts
};
Finally, the App component looks like the following:
import "./styles.css";
import React, { useEffect } from "react";
import commentsApi from "./api/comments";
import postsApi from "./api/posts";
import useApi from "./hooks/useApi";
export default function App() {
const getPostsApi = useApi(postsApi.getPosts);
const getCommentsApi = useApi(commentsApi.getComments);
useEffect(() => {
getPostsApi.request();
getCommentsApi.request();
}, []);
return (
<div className="App">
{/* Post List */}
<div>
<h1>Posts</h1>
{getPostsApi.loading && <p>Posts are loading!</p>}
{getPostsApi.error && <p>{getPostsApi.error}</p>}
<ul>
{getPostsApi.data?.map((post) => (
<li key={post.id}>{post.title}</li>
))}
</ul>
</div>
{/* Comment List */}
<div>
<h1>Comments</h1>
{getCommentsApi.loading && <p>Comments are loading!</p>}
{getCommentsApi.error && <p>{getCommentsApi.error}</p>}
<ul>
{getCommentsApi.data?.map((comment) => (
<li key={comment.id}>{comment.name}</li>
))}
</ul>
</div>
</div>
);
}
Now it doesn’t know anything about how the APIs get called. Tomorrow if we want to change the API calling library from axios to fetch or anything else, our App component code will not get affected. We can just change the codes form client.js This is the beauty of abstraction.
Apart from the abstraction of API calls, Appcomponent isn’t right the place to show the list of the posts and comments. It’s a high-level component. It shouldn’t handle such low-level data interpolation things.
So we should move this data display-related things to another low-level component. Here I placed those directly in the App component just for the demonstration purpose and not to distract with component composition-related things.
Final Thoughts
The React library gives the flexibility for using any kind of third-party library based on the application’s needs. As it doesn’t have any predefined architecture so different teams/developers adopted different approaches to developing applications with React. There’s nothing good or bad. We choose the development practice based on our needs/choices. One thing that is there beyond any choices is writing clean and maintainable codes.
Rita McGrath
3 years ago
Flywheels and Funnels
Traditional sales organizations used the concept of a sales “funnel” to describe the process through which potential customers move, ending up with sales at the end. Winners today have abandoned that way of thinking in favor of building flywheels — business models in which every element reinforces every other.
Ah, the marketing funnel…
Prospective clients go through a predictable set of experiences, students learn in business school marketing classes. It looks like this:
Understanding the funnel helps evaluate sales success indicators. Gail Goodwin, former CEO of small business direct mail provider Constant Contact, said managing the pipeline was key to escaping the sluggish SaaS ramp of death.
Like the funnel concept. To predict how well your business will do, measure how many potential clients are aware of it (awareness) and how many take the next step. If 1,000 people heard about your offering and 10% showed interest, you'd have 100 at that point. If 50% of these people made buyer-like noises, you'd know how many were, etc. It helped model buying trends.
TV, magazine, and radio advertising are pricey for B2C enterprises. Traditional B2B marketing involved armies of sales reps, which was expensive and a barrier to entry.
Cracks in the funnel model
Digital has exposed the funnel's limitations. Hubspot was born at a time when buyers and sellers had huge knowledge asymmetries, according to co-founder Brian Halligan. Those selling a product could use the buyer's lack of information to become a trusted partner.
As the world went digital, getting information and comparing offerings became faster, easier, and cheaper. Buyers didn't need a seller to move through a funnel. Interactions replaced transactions, and the relationship didn't end with a sale.
Instead, buyers and sellers interacted in a constant flow. In many modern models, the sale is midway through the process (particularly true with subscription and software-as-a-service models). Example:
You're creating a winding journey with many touch points, not a funnel (and lots of opportunities for customers to get lost).
From winding journey to flywheel
Beyond this revised view of an interactive customer journey, a company can create what Jim Collins famously called a flywheel. Imagine rolling a heavy disc on its axis. The first few times you roll it, you put in a lot of effort for a small response. The same effort yields faster turns as it gains speed. Over time, the flywheel gains momentum and turns without your help.
Modern digital organizations have created flywheel business models, in which any additional force multiplies throughout the business. The flywheel becomes a force multiplier, according to Collins.
Amazon is a famous flywheel example. Collins explained the concept to Amazon CEO Jeff Bezos at a corporate retreat in 2001. In The Everything Store, Brad Stone describes in his book The Everything Store how he immediately understood Amazon's levers.
The result (drawn on a napkin):
Low prices and a large selection of products attracted customers, while a focus on customer service kept them coming back, increasing traffic. Third-party sellers then increased selection. Low-cost structure supports low-price commitment. It's brilliant! Every wheel turn creates acceleration.
Where from here?
Flywheel over sales funnel! Consider these business terms.
Farhad Malik
3 years ago
How This Python Script Makes Me Money Every Day
Starting a passive income stream with data science and programming
My website is fresh. But how do I monetize it?
Creating a passive-income website is difficult. Advertise first. But what useful are ads without traffic?
Let’s Generate Traffic And Put Our Programming Skills To Use
SEO boosts traffic (Search Engine Optimisation). Traffic generation is complex. Keywords matter more than text, URL, photos, etc.
My Python skills helped here. I wanted to find relevant, Google-trending keywords (tags) for my topic.
First The Code
I wrote the script below here.
import re
from string import punctuation
import nltk
from nltk import TreebankWordTokenizer, sent_tokenize
from nltk.corpus import stopwords
class KeywordsGenerator:
def __init__(self, pytrends):
self._pytrends = pytrends
def generate_tags(self, file_path, top_words=30):
file_text = self._get_file_contents(file_path)
clean_text = self._remove_noise(file_text)
top_words = self._get_top_words(clean_text, top_words)
suggestions = []
for top_word in top_words:
suggestions.extend(self.get_suggestions(top_word))
suggestions.extend(top_words)
tags = self._clean_tokens(suggestions)
return ",".join(list(set(tags)))
def _remove_noise(self, text):
#1. Convert Text To Lowercase and remove numbers
lower_case_text = str.lower(text)
just_text = re.sub(r'\d+', '', lower_case_text)
#2. Tokenise Paragraphs To words
list = sent_tokenize(just_text)
tokenizer = TreebankWordTokenizer()
tokens = tokenizer.tokenize(just_text)
#3. Clean text
clean = self._clean_tokens(tokens)
return clean
def _clean_tokens(self, tokens):
clean_words = [w for w in tokens if w not in punctuation]
stopwords_to_remove = stopwords.words('english')
clean = [w for w in clean_words if w not in stopwords_to_remove and not w.isnumeric()]
return clean
def get_suggestions(self, keyword):
print(f'Searching pytrends for {keyword}')
result = []
self._pytrends.build_payload([keyword], cat=0, timeframe='today 12-m')
data = self._pytrends.related_queries()[keyword]['top']
if data is None or data.values is None:
return result
result.extend([x[0] for x in data.values.tolist()][:2])
return result
def _get_file_contents(self, file_path):
return open(file_path, "r", encoding='utf-8',errors='ignore').read()
def _get_top_words(self, words, top):
counts = dict()
for word in words:
if word in counts:
counts[word] += 1
else:
counts[word] = 1
return list({k: v for k, v in sorted(counts.items(), key=lambda item: item[1])}.keys())[:top]
if __name__ == "1__main__":
from pytrends.request import TrendReq
nltk.download('punkt')
nltk.download('stopwords')
pytrends = TrendReq(hl='en-GB', tz=360)
tags = KeywordsGenerator(pytrends)\
.generate_tags('text_file.txt')
print(tags)Then The Dependencies
This script requires:
nltk==3.7
pytrends==4.8.0
Analysis of the Script
I copy and paste my article into text file.txt, and the code returns the keywords as a comma-separated string.
To achieve this:
A class I made is called KeywordsGenerator.
This class has a function:
generate_tagsThe function
generate_tagsperforms the following tasks:
retrieves text file contents
uses NLP to clean the text by tokenizing sentences into words, removing punctuation, and other elements.
identifies the most frequent words that are relevant.
The
pytrendsAPI is then used to retrieve related phrases that are trending for each word from Google.finally adds a comma to the end of the word list.
4. I then use the keywords and paste them into the SEO area of my website.
These terms are trending on Google and relevant to my topic. My site's rankings and traffic have improved since I added new keywords. This little script puts our knowledge to work. I shared the script in case anyone faces similar issues.
I hope it helps readers sell their work.