Great insights, thanks! Another question, since you've gone through it:
Self-published ebook vs. real publisher doing physical books? E.g. when to go for what, what's ultimately better in your opinion, how much people still want physical books?
I also publish physical books myself. Margins are 4-5x higher than with publisher. For example: I make a €12 profit on a €20 physical book when self-publishing and €3 with a publisher.
I use a publisher for a book about houseplants because I thought this would sell for years and I'm not interested in doing marketing for all these years. Also, this specific publisher uses a 50/50 deal on profits (which still makes only €3,50 for a book with selling price of €17).
In the Netherlands there still is a very large number of people buying physical books. For example my book on airfare sold 6000 now, of which 4000 physical books and 2000 e-books.
Why e-books?
- increase your margin on books (can be almost 100%)
- no returns or storage / fulfilment agency needed
- easy to publish
Why physical books?
- people are owning something physical
- increases credibility ('this guy made a book')
- paper books are way cooler
Why self-publishing?
- increase margins
- autonomy
- if you have an audience, you MUST self-publish, otherwise you're only helping the publisher make money
Why use publisher?
- to get your books in book stores
- to do marketing (they don't, really, it sucks)
- to get help designing, editing, selling, promoting, pr
Sorry for the incoherent answer. This is all from the top of my head. Maybe I should write a self-published e-book on how to write and publish a book.
It does explain itself. However, it's not self-evident, and the explanations had to be sought by me. I go on the site, and the only thing I can guess from the name and percentage-ordered list of some products is, that it's an ordered project list.
But I had questions and only found them after doing "relatively" much research (speaking in terms of average internet user with short attention span):
- How does it order the projects? (after reading the about page I understood it's growth based)
- What's the "community" of a project?
- How do I participate?
Other questions that I also have:
- Why should I care as a product maker?
- Why should I care as a no-product-maker? Also, if I can't care as a non-product-maker, I won't probably care as a product maker, cause I'm not interested to get eyes on my projects of people who are unlikely to use it cause they're way too busy doing their own stuff.
- Why is daily relative growth rate a good metric to sort those projects?
PS.: Segments pie chart makes simple numbers look complicated IMHO
PPS.: The page layout somehow makes me think I'm on a gambling/scam/advertising site or smth, not sure. Probably cause it's dark + has projects arranged kinda banner like
Thank you Maxim, so valuable and clear!
"How does it order the projects? (after reading the about page I understood it's growth based)"
I changed this now to daily follower growth instead of a percentage. I hope this will make it more clear.
"What's the "community" of a project?"
This has changed to "followers" because it was indeed confusing and the wrong way to name it.
"How do I participate?"
There is a page where you can submit your startup. But this could be much more promoted on the homepage. I am thinking of using some of the 'cells' to add some call to actions.
"Why should I care as a product maker?" & "Why should I care as a no-product-maker?"
This one is my favourite because it is damn hard to answer. It is a chicken vs egg indeed, and when product makers don't care about it, it will not work. Of course, it is about free eyeballs for the makers, and hopefully, none-makers find it interesting to discover new projects. When it works, it could be interesting for investors and have educational value.
"Why is daily relative growth rate a good metric to sort those projects?"
The main idea is to give early-stage projects a leg up. With percentage growth this is possible, and they will benefit, but also make space for new projects. If 'new followers' would be the metric, the bigger ones will always end on top. You can win crowns and get promoted on the leaderboard, so it becomes a competition where the smaller ones most likely win. Kind of a gamification/ gimmick, but hopefully fun and motivating.
"Segments pie chart makes simple numbers look complicated IMHO"
Thank you! I am going to fix this asap.
"The page layout somehow makes me think I'm on a gambling/scam/advertising site or smth, not sure. Probably cause it's dark + has projects arranged kinda banner like"
Very good and I can see this now. Also, the logos make it a bit too commercial maybe? Going to play with this a bit.
Thanks so much, Maxim, really great questions and helpful.
I have nothing to say about this that would roast it. But since I'm already here I didn't want to leave this uncommented, so I'll just say I really like everything about this product!
Can't complain with this response, thanks so much Maxim! 😄
I wasn't thinking of connecting to people who actually want to be pitched for other than practice reasons. However, it's probably better to just start participating regularly in some online meetups, e.g. those to be found on Indie Hackers www.indiehackers.com/meetups - I'm sure there is plenty of chance to practice pitching there, if you just want to practice your pitching skills. Also pretty much the reason I didn't pursue thie idea more.
The service itself is fine I think. Even if it's similar to already existent ones I can see enough need for another one.
What I'm missing mainly is more details info about it on the landing page. How does it work very specifically? Maybe some screenshots? Features? Ways to integrate and use it? Currently "Backend as a service" is all I know about it, and it's way to vague for me. Differences to Prism? To Contentful? To Firebase? (even if you don't compare it directly to those tools, give a description clear enough so I can plot the differences out in my own mind).
So first of all: Wow.
That project looks amazing at first sight. And as a software engineer, I am humbled by the amount of work that must have gone into it. That's truly a masterpiece. And just as the desktop software, the landing page also looks like it came straight from a billion-dollar company.
That being said, here is the experience I made with it (pretty quickly):
I seemed a bit unintuitive to me. The graphs and activity categories like "Work", "Communication" look great, but in practice, I only can scratch my head. I am literally clueless what I am looking at, it just gives me the feeling that I know (or at least should know) what's going on with my time, when I still don't.
There are some UI glitches that make me uncomfortable, e.g that profile picture with the checkmark. I was searching for a task that I just had created and couldn't show it up in the desktop app until I found out I can click the checkmark. I still don't know what it does, but I am assuming it filters done tasks vs pending tasks.
I also don't know why there is the web UI. Creating invoices feels a bit clumsy, and taxes seem to be missing from the generated pdfs. After I hide a project that I imported from Trello I couldn't figure out how to bring it back. I also didn't figure out how to NOT import a project from Trello (I'd like to have a whitelist approach, where I explicitly choose which projects I want to import, instead I have all my Trello boards in now, including my life planning and even cooking recipes).
I should add that I was eyeballing with RescueTime recently, so I took a look into DueFocus because I was sincerely interested. But I don't even know what DueFocus is supposed to be or do for me. I hoped for a cool time tracker that gives me stats to improve my productivity (that's the hope that built up in me when I scrolled through the landing page and hence my interest in RescueTime) but got a tool, that looks more like something I would want to use as a rigid employer to minute-track my employees (and the making screenshots feature or the notification that I have been inactive for 5 minutes also contributed to that feeling).
I then went out to find other, similar apps. What stroke my nerve most, is probably www.and.co/. I can't tell the difference in what problem DueFocus and And.co are supposed to so solve, but they seem very similar to me. I would choose And.co simply because it looks less complicated (this impression comes entirely from the screenshots, I didn't try And.co). I am missing a bold statement and a mission from DueFocus, and eventually, it is just too complicated and unintuitive for me.
All that "critics" given (you asked for a roast, though!) I must say I see some potential and I also see that there is probably some good reason for specific features. For example, I had to figure out the "Cold time" feature at first, but then it made sense. I guess a lot of the issues I have right now would fade if I just got used to the system and idea.
It's just not for me. I don't want to waste time by actively tracking time for all I do (which I believe is impossible anyway). As a freelancer, I'd rather turn on my iPhone timer when I start working and turn it off when I stop working. As a human striving for more productivity, I'd rather know how to improve: "What gets measured gets managed".
Actually, I changed my mind! :D (Although I still stay by my original statement fundamentally).
I think you should go and try it. Invite 5 people you'd like to join and offer a free membership. However, also invite 5 people from Hacker News just asking to join paid. Then have a comparison / evaluate the results as far as possible.
Where I still strongly disagree is, that offering a paid membership sounds like spam or makes you sound / feel "disingenuous". It's not about what you offer, it's about how you offer it. Try something like the following:
"Hey John, I admire your most recent project, "XYZ". Because you're rocking as a maker so much, I'd like you to know about WIP, a project of my own. A community of makers with a very active and supporting Telegram group.
Great indie hackers like Arnold and Tim already use the community daily. Access is paid though, and as much as I'd love to offer you a free membership (mainly because I believe it would make this message sound less spammy), I can't do it because I feel it would be unfair in regards to the paid members.
I would love to see you around, thanks!"
For me personally, that's more than enough sincere touch to view it as a genuine message.
Love that. Calling it out like that does indeed make it seem much more authentic 🙌
I have adopted a realistic point of view and understand that, while I pay for some services, someone else might pay less or nothing or even get paid to use them or whatever. It's all vitamin C and the world works like this.
However, from an entrepreneurial point of view, I just think that's not the way to go. You'll get too many people (percentage-wise) in, who don't really care about WIP.
Remember, that those people are still people. Just with a few more followers for what it's worth. They will bring the same positive and negative characteristics into your community like everybody else, but you're not filtering the bad ones out by offering free access (by the way, "bad" doesn't mean bad people or professionals or whatever. Just a bad fit for WIP). It's just not a good business decision. They won't do the things for the community you hope them to do if they got a free-ride, because they are not invested with their skin. They won't act authentically.
Ask yourself:
- What made you decide to set this up as a paid community, in the first place?
- Would you repair windows for any one of your family's friends for free? (Really???)
- Could it be that you're actually doing them a favor if you tell them about WIP?
As a simple solution: Just tell them what you've done in your life. "Built this and that. Oh, and also created WIP. It's a community of makers. Last week I also took some cool photos of people's fridges, you should check them out!"
That should be easy enough to do in a conversation. If anything, they will catch up on the WIP part and have a look at it. Maybe they join. Maybe they don't. Maybe they contact you asking for a free membership. How is it they don't feel disingenuous doing that (if they ask)?
The price doesn't change anything for someone who wants to bring and receive value and genuinely is hooked. It only changes something for someone not willing to pay it anyway and probably not even interested in the product.
Thanks for sharing your thoughts Maxim.
I agree someone willing to commit is a better fit for the community than someone unwilling to pay.
If an "influencer" with a large following would reach out asking for a free membership, I would be inclined to say no. They can just pay like everyone else.
But let's say I come across a really talented maker on Hacker News, and they aren't familiar with WIP yet. I think it's way more likely they try WIP if doesn't cost them anything. A message "hey I love you work, signup for my paid community" just seems like spam.
I wonder if long-term inviting some makers like that, would result in an even more vibrant community, ultimately being better for everyone. And those members who initially signed up for free, might end up upgrading to a paid subscription later. (e.g. many early WIP members who got access for free decided to pay anyway, to support WIP).
I'll give it some more thought. Perhaps there's a way in-between as well (free 1-year try-out trial, etc)
Actually, I changed my mind! :D (Although I still stay by my original statement fundamentally).
I think you should go and try it. Invite 5 people you'd like to join and offer a free membership. However, also invite 5 people from Hacker News just asking to join paid. Then have a comparison / evaluate the results as far as possible.
Where I still strongly disagree is, that offering a paid membership sounds like spam or makes you sound / feel "disingenuous". It's not about what you offer, it's about how you offer it. Try something like the following:
"Hey John, I admire your most recent project, "XYZ". Because you're rocking as a maker so much, I'd like you to know about WIP, a project of my own. A community of makers with a very active and supporting Telegram group.
Great indie hackers like Arnold and Tim already use the community daily. Access is paid though, and as much as I'd love to offer you a free membership (mainly because I believe it would make this message sound less spammy), I can't do it because I feel it would be unfair in regards to the paid members.
I would love to see you around, thanks!"
For me personally, that's more than enough sincere touch to view it as a genuine message.
Love that. Calling it out like that does indeed make it seem much more authentic 🙌
Thank you, this is supremely helpful! 🙏 go for that new book ;)