31
74 Comments

Reached 1,000 customers! 🤯

As of this weekend, ProjectionLab (https://projectionlab.com) officially hit 1,000 customers! 🥳

18 months ago, I remember listening to a podcast where the guest emphasized the importance of treating your first 100 users like royalty. At the time, PL had maybe a dozen, and a hundred seemed so out-of-reach that trying to implement that advice felt like over-dignifying something that would eventually be destined for the side project graveyard.

But building PL from that point into the robust personal finance planning tool it is today has been the most fun and fulfilling software engineering project I’ve undertaken, and I feel extremely fortunate to have seen it grow a thriving community of users who provide regular feedback and help to shape the product roadmap.

So next time you hear a bit of startup advice that you feel unworthy of even listening to... remember that that's how many of us feel at first. If you can find a problem to work on that you can be passionate and persistent about solving, with a bit of luck, the rest will follow 🙂

posted to Icon for group Success Story
Success Story
on November 27, 2022
  1. 5

    Congrats, mate! That sounds amazing. I wish you reaching the 10k milestone at some point next year 🚀.

    p.s. are these 1,000 customer all paying?

    1. 4

      Thanks Stan! And yep, only counting paid users here. 10k is now the new unattainable-feeling thing. Isn't it amazing how reliably the goalposts just keep shifting? 😅

  2. 3

    Congrats Kyle, this is a very significant achievement in an 18months time span. What was you main acquisition channel?

    1. 4

      Thanks so much! I had some good luck with a Show HN post last year, and a couple reddit posts as well. Other than that, it's mainly been word-of-mouth, because I have a bad habit of spending 99% of my time building new features, 0.9% of my time worrying about the fact that I'm not doing marketing, and then 0.1% of the time actually doing marketing 🤣.

      More recently, a finance author/youtuber unexpectedly reviewed the tool, Mr. Money Mustache tweeted about it as well, and the guys that run The FI Show asked me to come on their podcast to talk about it there too. Those last three together really helped close the remaining distance toward reaching this milestone.

      1. 2

        Lol, I can relate to the time split that you described 😂
        Best of luck mate

  3. 2

    Congrats man. That's a great achievement.

  4. 2

    This looks like a really awesome app, will probably start using it soon. I also shared it with my "finance planning happy" father 😃

    Congrats on reaching the 1000 customer milestone! 🚀

    p.s: I see there's a template for Norway, when are we going to get one for Denmark?

    1. 1

      Thanks for trying it out, Sofus! I haven't had a chance yet to research the tax situation in Denmark, but if you can come up with a custom configuration that you think is a close approximation, just send over a JSON export and I'd be happy to use that as the starting point.

  5. 2

    Congrats! I'm at zero 🤣 one day soon though!

    1. 1

      That was me not too long ago :)

  6. 2

    Fair play mate, you took it one step at a time at got the result! I love to see bootstrapped success like this.

    1. 1

      Thanks Dave! Bootstrapping on nights/weekends is definitely a grind, but keeping the business structure simple and maintaining full creative control has been a good fit for me so far.

  7. 2

    Wow Kyle, this is not only a great success, but apparently you also built an impressive, pretty complex software.

    I love that you offer the tool for financial advisors. That was my first thought. However, I believe you're undercharging this offer.

    What just jumped into my mind was offering a stripped-down version for educational purposes at schools. That might be a great contribution to financial education. You might even find charitable foundations to support that. And you can not only attract future customers in the pupils but also in their parents if they talk about it.

    What do you think?

    1. 2

      Thanks Karsten! What pricing tweaks would you recommend for the Pro version?

      I agree it could be super useful in an educational setting. I know of at least one case where a college prof used it as an assignment in an economics for engineers type course. Sounds like it was the students' favorite part of the class, so I bet it could be a hit at other schools as well. Not sure if stripping down the tool would even be necessary; maybe just something along the lines of a discount on the Pro version for educational use? That way a professor could maintain N client accounts to be used by students, and would have visibility into the plans they create for their assignments.

      1. 1

        To me, the Pro pricing seems way to low. However, I don't know the market well. It would be good to understand what financial advisors charge for their service. If they only charge one-time consulting so far, a tool like yours could be the basis for a subscription model for them. They could add quarterly or annual advisory calls based on the information inside the system. But if you like that idea, discuss it with some advisors to see if it resonates. And $2 per month for additional accounts is too cheap. I'd rather suggest winning them as affiliates and offering them a commission of 30%-50% on a pro account. That's more of a win-win situation.

        For the educational sector, I'm not sure how much budget they have. I live in Germany, and it would not be easy here to access a reasonable public budget. But you might find a foundation or a local bank to sponsor the tool, it might contribute more to your bottom line. Make it white-label, brand it for a bank, and try to convince the school district to start a financial education pilot program. Schedule wisely before the next elections ... ;-)

        1. 1

          Thanks for the analysis! Appreciate you sharing your perspective.

  8. 2

    Congrats on the 1000 user! I have been raising for my own startup recently, and it seams to me that you have a very interesting story (which is what you need to raise)! Are you currently raising?

    1. 1

      Nope! I've been enjoying bootstrapping this as a side project too much. It is a grind working nights/weekends, but keeping it simple and maintaining full creative control is more my style for now.

  9. 2

    Congrats! Do things that don't scale :)

    1. 1

      Thanks Mathias. On the technology side, I try to think about scalability early on; but on the customer interaction side, it can make a real difference when you show that there's a real, responsive human on the other end.

      1. 1

        Yes, the personal touch in customer communication makes a difference. Even if it's automated :)

  10. 2

    That's very inspiring mate, congratulations 🎉
    Now to 10k

    1. 1

      That still feels like a hell of a goal, but it's good to aim high I guess!

  11. 2

    Congratulations. Please share some initial sales hacks :)

    1. 2

      Not sure I'm the right person to go to for sales shortcuts 😅. I've always spent 99% of my time just making the tool as good as I possibly can, and hoping that will eventually engineer some luck on the traction/growth side.

  12. 2

    Nice... 1000 PAYING customers? Or the majority on the free plan?

    1. 1

      Thanks! And yep, only counting paid users here. Was searching for a word to communicate that more succinctly, but "customers" is the closest I could think of.

  13. 2

    Congrats! Love your idea as well! Off to adding another zero to that number 🚀

    1. 1

      Thanks! And ah yes, the next "unreachable" goal on the horizon 🌅.... actually, even as I write that in quotes to try to be a little motivational about the shifting goalposts and limits of possibility, I can't help but notice that I still haven't actually escaped that little voice in my head that goes "well, but you know it probably is unreachable though" 🤣

  14. 2

    That's great news, I hope to achieve this one day as well.
    Is there any blog post or article about your journey?

    1. 2

      Thanks Dhroov! Here's a podcast I went on recently covering my background and journey with PL so far: https://thefishow.com/kyle. Public speaking has never been my favorite thing, but I'm glad I made myself do it anyway :)

      1. 2

        Mate i'm also glad you did it, I'm sure i'll learn atleast a thing or two from it.

        1. 2

          If there's anything you think I should do more (or less) of in future interviews, do let me know!

  15. 2

    Congrats on the achievement! UX is clean and solid.
    May I ask you what plot lib you use?

    1. 1

      You may 🙃. I'm using Chart.js for pretty much all of the plots (including a few bits where I wrote custom extensions as needed). The app in general is built with Vue.js, Vuetify, and Firebase.

      1. 1

        As a Vuetify user myself I am very impressed with how clean the app looks, well done. Did you create the marketing page with Vuetify as well? If so, did you use a template or was it from scratch? I'm struggling to make my apps look half as good.

        1. 1

          Yep, it's actually all just one Vue app, including the landing page. I'm using code-splitting to reduce the size of the initial bundle. With Vuetify, I would say that I use it as more of a jumping off point. Sometimes I'll build custom stuff and/or override their component styles, but I think it's a nice foundation to build from.

  16. 2

    Wow, congrats!! Amazing! And I think I actually tried your product a few months ago, probably found it on Product Hunt. Excellent work!

    1. 2

      Thanks for checking it out! Assuming you didn't stick around to be one of the 1,003 from above, is there anything you felt it's missing?

      1. 1

        No, I didn't stick around - that's true.
        I really enjoyed the onboarding of your product, but I guess I'm just not so focused on planning my financial future (and it probably would be wise to start thinking about it :P). Also I'm a YNAB user for quite some time and I felt that it is enough for my budget / savings / financial dashboard needs at the moment. Nevertheless your product made a very positive impression on me, in fact so much that I have saved it "for later".

        I'd love to discuss and give you some more feedback in private if you'd like!

        1. 1

          Never too early to build a good plan 😜

          And yes, would love to hear more of your thoughts! Feel free to hit me up on the PL Discord, email, or Twitter.

  17. 2

    Beautiful day! Beautiful metrics! 🚀

    what metrics tool do you use?

    1. 1

      I use Paddle for payments/subscriptions, and this is one of the widgets from ProfitWell, a metrics service that Paddle recently acquired.

  18. 1

    Congrats! Next goal is 5k or 10k?

  19. 1

    @knolan congrats on your achievment

  20. 1

    Congrats!
    Nice success story! I hope to be able to tell a story like that in the future😁
    Good luck on the way to 10000!

  21. 1

    Congrats! I've used the tool and it's super cool

    1. 1

      Thanks for checking it out, Tom! Anything you felt it's missing?

  22. 1

    A big congratulations on achieving this milestone.

  23. 1

    That’s awesome congratulations. Getting your 1k is already a huge accomplishment

    1. 1

      🙏 Thanks Ruben!

  24. 1

    Congratulations! That's a nice increase in month-to-month 🚀 keeping that up, you won't even notice when that comma switches place :)

    1. 1

      True, although the past couple months include a finance author/youtuber unexpectedly reviewing the tool, Mr. Money Mustache tweeting about it, and the guys that run The FI Show asked me to come on their podcast to talk about it there. I don't think I can count on those kinds of fortuitous events continuing indefinitely without me stepping up my marketing game at some point here.

  25. 1

    So awesome! congrats!

    Any tips for getting users to participate in providing regular feedback?

    1. 1

      One thing I did was set up a Discord server for PL and make that one of the most prominent options for customer support. Growing that community has been a lot of fun: https://discord.com/invite/dZQ5DDEmT7

  26. 1

    Congrats , Mate !! Miles to go :) !! Please share your sales hacks ;)

    1. 1

      Thanks Binu. Dunno about sales hacks, but it's always good to validate your ideas early and get an MVP out there as fast as you can and start building an audience around that. I was actually pretty late to the audience building game myself (didn't even put a newsletter subscribe option on there until a few months ago). It's much better to bake that stuff in from day one if you can.

  27. 1

    Nice your doing the great work can you tell what is your customer churn rate?

    1. 1

      Recently churn rate has been somewhere around 3-7% per month. Not actually sure where that stands in the grand scheme of things -- what's a good benchmark in your opinion?

      1. 1

        Nice it's ok and if the churn rate goes up from the 7-10% it will be dangerous .

        There is multiple reasons of the high customer churn:

        • High price
        • Find the alternative
        • Not needed more
        • Product Bug
        • Lack of education on how to use product effectively
        • Poor customer service
        • Limited features

        If your customer churn goes up first, you need to know what is the major reason for high churn for this purpose you can use churnfree. This tool also helps you to reduce customer churn by custom offers for them which you an offer like 50% off, 30% off and much more.

        Check out this tool to see how it can help you!

  28. 1

    Congrats, very inspiring. Keep it up!

  29. 1

    Congratulations and thanks for sharing your encouraging + inspiring story! 🙏 🚀

  30. 1

    Du bist vollkommen. Verwirrt. Eigentlich hast Du Dein Zuhause verlassen, um zu suchen. Ein Lachen, eine Liebe. Einen Genuss.
    https://www.ga-ga.de/dinner

  31. 1

    Congrats my friend! I'm new to this platform and reading your post is quite inspiring.

  32. 1

    Great progress! Congratulations 🎉

    1. 2

      Thanks Maciej. It's been a long road to reach this milestone, but there's nothing I'd rather be doing 😊

  33. 1

    Congratulations on the milestone achievement! I wish you the best of luck moving forward!

    1. 1

      Thanks Bret! 🙏

  34. 0

    I am curious if you find this calculator helpful –> https://saas-calculator.com 🙂

    It helps you calculator metrics like LTV, CAC, MRR and how much one invested dollar generates. 🙂

    Let me know. I really appreciate your feedback. 😇

Trending on Indie Hackers
I spent $0 on marketing and got 1,200 website visitors - Here's my exact playbook User Avatar 50 comments Veo 3.1 vs Sora 2: AI Video Generation in 2025 🎬🤖 User Avatar 26 comments I built eSIMKitStore — helping travelers stay online with instant QR-based eSIMs 🌍 User Avatar 20 comments Codenhack Beta — Full Access + Referral User Avatar 20 comments 🚀 Get Your Brand Featured on FaceSeek User Avatar 18 comments Day 6 - Slow days as a solo founder User Avatar 15 comments