Budgetwise - Zero Sum Budgeting and Debt Management
After months of working until 3am+, Budgetwise (https://www.budgetwise.io/) finally launched yesterday.
Here is the actual post-mortem blog post: https://blog.budgetwise.io/2018/07/27/launch-postmortem/ but I will post here more about the developer's side of things!
A brief overview of the numbers (I am keeping things a bit generalized as I don't want to disclose specific numbers)
- Mailing list built since November '17, over 4.4k signups to be notified about early access
- About 1.4k have signed up so far
- Several subscribers, generating > $1.3k in the first 24 hours
- About 80 dropped emails due to deliverability issues from Mailgun
- 54 unsubscribed from the mailing list after sending out the mass mail
- There are currently only 6 articles in the help center, and by far the most viewed was the "Budgetwise Quick Start Tutorial"
Positive Feedback:
Lots of good things being said about the design decisions, the open communication, and the general responsiveness I've been trying to achieve. Because I've been transparent since the start, I think the right expectations were set in terms of usability, what stage it's in, delays, and anything else that might have come up.
Negative feedback:
It's unusable for some heavier users due to some important missing features, and I totally dropped the ball by not having a reset password feature ready to go by launch. Do NOT underestimate how used this tool is! Also, the sheer number of bugs found can be daunting, but the beauty of it is you have tons of users using it in different ways, so discovering these bugs is a good way to know how users are actually using your product, and what to focus on in terms of features or improvements.
Key takeaways for any indie hacker getting ready to launch:
- Double and triple check your marketing site to make sure everything is clear
- Make sure the basic user flows are there and working properly (email verify, password reset, subscription management, etc)
- Test your product as much as possible. It will never be enough, but don't let that discourage you
- Focus on providing a good onboarding experience
- Prepare for getting a HUGE amount of feedback, bugs, comments, and general thank you notes on the first day. If you choose to use something like Intercom's Inbox, be ready to spend the entire time communicating with users. I am not exaggerating when I say I was non-stop talking to users from the time it launched around 10am, up until I went to sleep around midnight.If possible, bring a second person up to speed on your product, have prepared answers for common questions you will expect to receive, and have them help you respond to people's feedback and questions.
- Have food prepared for the day, and take frequent breaks so you don't get burned out during the first day's craziness.
- Spend some time unwinding afterwards, maybe go catch a movie or go for a nice drive. You'll come back way more focused and refreshed
How did you end up with 4.4k early signups?
I wonder the same.
Just like webapppro mentioned, it was a combination of a streamlined landing page (as little "fluff" as possible), talking with each customer and building relationships with many users, and providing continuous updates, though I think it would have gone even better if I posted updates more frequently
Thank you for the response! I've got a landing page up and I'm playing around with Google Ads, but I have a feeling that my market is a bit too niche for that so I'll have to experiment with other marketing channels. Congrats on getting that many users on the waiting list!
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Makes sense. I've got a landing page, but I think I need to figure out different marketing strategies (currently only using Google Ads) to get users to sign up. Marketing is not my forte...
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Yep, libraryio is what I'm working on at the moment. I'm not looking to get VC funding at the moment, especially since it's a side project that I'm kind of playing around with. I'm starting to realize that people are not willing to pay a lot to convert books that they already own into a digital format, so I'm looking to pivot the service into something else. Blech.
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These are great ideas! Back to the drawing board I go :)
Congrats buddy, I'm proud of you for getting this launched. Keep it up!
Thank you so much Josh!!
Congrats on the launch, Alonso! It looks great. I think once you've launched bank sync I will try switching from YNAB :)
Congrats on the launch! The website looks neat as well. It's not something I would personally use, at least not now, but it does look like a great product š
p.s. I like how you are using Trello as a public space for requesting/voting features š
Thanks a lot! Yes, the trello roadmap was something inspired by JSFiddle as they do something very similar, and I like the fact that users can have an impact on what I work on next. I've also opened up the bug tracker so users can enter bugs they find, and if there are other ways to interact with users, you can bet I will try it at least once :)
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Yeah I am keeping everything as secure as possible, and any sensitive bank information won't be passed to me, but rather directly to the third-party aggregate API provider. Same with the payment information, that is all being handled by Stripe.
As for ease of access, it's not easy at all since the third-party provider generates tokens for each group of credentials, making it rather difficult to try to break in. Dealing with these tokens, IMO is what takes up the most time when it comes to implementing the bank sync!
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It was great! No performance issues, even with tons of database updates happening across so many users, the CPU usage never crept past 6% on a $10 droplet