For the last few years, I’ve been building a mastermind network for entrepreneurs. Kind of like Indie Hackers, but based on live interaction between small groups to help us get through professional and personal roadblocks faster, and provide structure & accountability for creatives.
This has been a side hustle but I recently quit my job to give it my full attention. After continually bumping my head on a $2k MRR ceiling, we finally broke through after a few small tweaks and are on track to hit our $10k MRR goal before the EOY.
Here’s the highlights of lessons learned:
- If you’re running a marketing funnel that is targeting a sales call make sure you:
- Give your sales call a catchy title and let the prospect know how they’ll benefit. Ours is a “mentorship call” that promises (and delivers) on understanding and identifying the biggest mental roadblocks an entrepreneur is struggling with and strategies for addressing them.
- Data, data, data. Make sure you’re tracking the results from every stage of your sales funnel so you know where to improve.
- Be OK with failure. Most marketing funnels simply won’t work well enough. Embrace being wrong as a learning moment.
- User research
- Talk to your early users constantly and systematically so you can understand what’s working and what’s not
- This sounds obvious, but it’s an incredibly valuable source of inspiration and product feedback. It also keep your users engaged and passionate because they are contributing to building the product / service.
- If your members aren’t stoked on the product, make it better before spending time marketing
- When they are stoked, enlist their help with marketing (eg., short testimonials, case studies)
- Focus on building a product so good that it generates referrals, and have a referral program in place.
- If you have a referral program, your users will have to be reminded of it at least every quarter
- I’ve been in the startup world for the last 6 years, and without a doubt I’ve realized that mindset is everything.
- Make sure you want what you’re doing SO bad, that you’d “run through walls” to make it happen
- Check in with yourself (and / or your business partners) and make sure everyone maintains an unstoppable mindset as much as possible
Hope that helps some of you. Happy creating.