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Finally broke $2k MRR... lessons learned

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:

  1. 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.
  1. 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)
  1. 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
  1. 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.

  1. 1

    Helped a lot! So many good points. I'm just trying to reach $100/MRR but I guess the building blocks are the same :)

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