A while ago we had the pleasure of talking with Janel Loi (@janel).
Full chat here 👉🏽 Janel Loi on pricing, positioning, and escaping the Curse of Knowledge
Janel's obviously a legend here on IH and she's got a ton of knowledge around bootstrapping. Here's my best attempt at extracting some of it.
Until you get moving, nothing can happen. Surround yourself with people that can help you when you’re stuck. If you’re part of an active community then when you need them (to help launch your product for example) you’ve already built those relationships.
I priced my original product Newsletter OS too low because of imposter syndrome. But don't be scared to raise your prices. Charging more gives you more profit but also, better customers!
One mistake I see a lot is people not having a clear understanding of who their target audience is. That makes it hard to get customers.
Also, don’t take advice from an individual user too quickly. you’re trying to see the trends in what your customers like or dislike.
Here's a bonus one:
If Janel had sold her product as a book, it would've been a terrible product. Her Notion template allows people to consume it asynchronously (pick and choose what they want to read) and it also gives them some structure for their own newsletter.
It's interesting how one can turn cons into pros by positioning it correctly.
Here's the full chat again 👉🏽 Janel Loi on pricing, positioning, and escaping the Curse of Knowledge. Highly recommend it.
RJY
Thanks for having me, and taking the time to share these highlights RJ & Rob!
Yeah was awesome to finally meet you!
Thanks again.
RJY