TL;DR of "12 Months to a Million": Launching a 2nd product and not being an "askhole"

I finished the book! 🤓 This week's post comes with some very practical tips, and a side of...existential adventure through the deep, dark funks that can exist in the highest of highs (like making your first million). Oh, being human.

TL;DR: The end of the book left me thinking deeply about what it really means to be an indie hacker. The author managed to share his very personal struggles alongside tips like, how to connect with whoever owns the media in your niche — hint don't be an "askhole."

🏆 Top tip: Never direct your audience to a page where you are unable to capture their email addresses.

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📕 The book du jour: 12 Months to a Million (How to Pick a Winning Product, Build a Real Business, and Become a 7 Figure Entrepreneur) by Ryan Daniel Moran

Why care about what this author has to say? Made his first million at age 26 via email marketing. Has since co-founded two 7 figure businesses (before age 35).

Why read this book in particular? Came out in 2020 so it’s super duper fresh. Has almost 600 5-star reviews on Amazon. Promises to be practical yet mind-blowing.

🤩 Key Takeaways:

Once you've got a product that's consistently making 25 sales a day, you're ready to launch another product within that same brand.
The biggest mistakes you're likely to make with the second product are: 1) Trying to pursue a new niche, and/or 2) making your second product an add-on instead of something that stands alone. Note: The latter isn't necessarily a bad idea — you'll just be getting incremental growth instead of gearing up for the "snowball effect".
To find inspiration for a second product, think of your customer as a hero or heroine who's on a specific journey. Your job is to help them along. What can you offer them that will actually help them?
It's not uncommon to target one audience, just to find out that your raving fans aren't who you expected. If this happens and you lose the passion to serve this audience, remember what your core mission is. What exactly are you trying to help people with? Is this still being accomplished?
Know the people who control the media in your niche. Then, open relationships with these people by making a "deposits into their accounts" aka offering value. Do not be an "askhole" — as in, don't ask for something without first giving something. Make your give an opportunity for them to say "yes" to you. Offer to buy a bulk order of their book, or to donate money to their favorite charity.
Never direct your audience to a page where you are unable to capture their email addresses. If you primarily sell on Amazon, don't say, "As found on Amazon." Instead, offer them a discount at your website that they can bring to Amazon if they want. The main point here is that as often as possible, you're aiming to gain audience members that you can continue to nurture over time. You're not just attempting to get one-off customers.
Screenshot positive mentions of your product(s) and run them as easy ads.
Progress is way better than perfection. Researching, networking, and journaling might be great, but they don't move you forward. Making decisions is what moves you forward.
It's only a business if you can walk away from it and it continues without you. Otherwise, it's just a well-oiled sales machine.
Making your first million can actually be depressing. The author shared that the week he sold his business, he came home to an apartment with no furniture because he and his girlfriend were in the middle of separating. He says his IG was all celebration and wins and his real life was actually very lonely. So he recommends coupling the entrepreneurial journey with the hard work of self-discovery as it arises. Money is an amplifier and it will show where your life needs real work.
Don't plan up to the goal of making a million dollars or having a successful business. Plan through the goal. Make sure there's something on the other side so that the goal is just another step on the journey of life.

🤔 Biggest disappointment this time around: I found these last couple of chapters to actually be quite touching. Ryan's share of his personal journey was illuminating and felt authentic. I wonder how the book would have felt if more of this aspect of his journey was mentioned sooner? Either way, I'm feeling satisifed.

⏩ Upcoming: A New Book! 🥳

Stay tuned! 🙏

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