We decided to go Open Startup with $0 MRR. Good idea or bad idea?
I've always loved the idea of Open Startups. Companies like Baremetrics, Buffer, and ConvertKit have pioneered the way.
But, is it a good idea to go Open Startup when everything is at 0?
IDK, but we're doing it.
We've taken Betterlance and gone Open Startup.
You can see all our key metrics at https://betterlance.co/open
And we'll be posting regular updates like https://betterlance.co/open-updates/monthly-recap-for-may-2020
I'd love feedback. What do you think? What questions do you have?
Thanks!
There's not a lot of downsize at $0 revenue.
P.S: That's a really nice website for $0 MRR!
Thanks @futhey. We actually built the website in about 1.5 weeks using Webflow. There is some cost $15/mo, but for the quality and speed we thought it was worth it.
Ah, sorry for the confusion. I meant for a pre-revenue company, your site is top notch!
Leyland, are you ok?
I'm in a similar situation, i'm transforming a tool that I use internally in a saas product, and I want to start now with the open startup, roadmap among other things, how has your experience been?
All good. We haven't posted Open Startup updates in a while for Betterlance though. Honestly, we've just been busy with other projects.
Hope to post another update soon.
Thanks
Thanks @leylandjacob
I'd love to see some proper data on this but my hypothesis is that you could draw a venn diagram of (1) your customers and (2) the people interested in your /open page, and there would only be a small overlap in the middle.
I think the /open page is a good early stage tool in fostering a community around your product. But I wouldn't expect those people to convert directly into customers. The purpose of that community is to help you amplify what you're doing, and help spread the word to others (who might actually be in your target market).
So I wouldn't worry about painting a picture of a small / solo company with little or no revenue. If I think about all the SaaS products I pay for, I'm not really cognisant of whether they are a small company, or a big company, or whether they are /open or not - I just pay for the product because it solves a problem for me.
I have had a couple of folks from really big companies tell me that the fact that my revenue is open and low means they would be hesitant to use my product as they can't be sure about its longevity. And you know what? That's perfectly fine with me - I can't service big multinational clients at this stage anyway, we aren't a good fit for each other.
Thanks for the thoughtful response @yongfook.
I agree, it's not something most customers will seek out or be interested in. If it turns them off, then probably not the best fit.
Another reason we're doing this is to have something to consistently share. It so important to build momentum. Building in the habit loop of sharing the open stats helps to consistently build that momentum. It's something to talk about.
A little bit of constant gentle pressure can go a long way.
Thanks 🙏
It can be a good strategy, I hope you have good news soon.
The web is cool, luck!
Thanks @juanjorc
I'd think first it hurts more than it helps to show you have 0 paying customers when you sell a service that is supposed helping grow a business, and sales tools.
I'm interested to see how it goes.
@antoinem we definitely thought about this. But it is what it is. We can't change the facts and at some point every business starts at 0 so 🤷♂️.
Hoping that 0 is not a zero next week 😊 📈🚀
Yes. This is also something we are discussing, but while I like all this transparency movement, it's still quite difficult for us, specially given all this privacy and secrecy culture we have here in Switzerland...
Good luck!
I think this is a great way to create organic growth. I for one have always been more likely to pay for a product which I've been on the "Free plan" for. I did this for a while with Buffer. It helps build a rapport with the end-user and give them time to trust your application.
BTW, love the landing page and design of your site. Are you using a particular service to get templates or are these built from scratch?
Good luck!
Thank you @subg! Buffer is a great example.
We built the site in about 1.5 weeks using Webflow. Some cost, about $15/mo but highly recommend for speed of launch and quality.
Thanks again 🙏
I think it's an interesting tactic! Will be following for more updates.
Thanks @Gervonte
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Definitely see your point @simond. We thought about this. Hoping that sharing from 0 is the ultimate success story 🤞. Thanks for the feedback