6
13 Comments

You should follow the money-maker community on Twitter ("money Twitter")

These people differ from most (developer-type) indie hackers in that they're not as focusing on developing a product but rather find other ways to make money, usually by selling info products for example, running a community, or doing consulting, sales, and marketing for other businesses. They have a lot of good insights and case studies that aren't usually seen in IH style communities. For example:

This person runs a community of SaaS founders and to make money, he does affiliate marketing for products that a SaaS would use, like Zoom, Zapier, etc. He charges a yearly subscription and also resells licenses at a markup. He can do this because he buys licenses in bulk (e.g. 200 Zoom enterprise licenses for $2,100 total) and then sells them at markup ($25/month), making a profit from the spread (25 * 200 - 2,100 = $2,900) plus the yearly subscription cost.

Another example is this guy:

He does sales on behalf of course creators. He will find a creator with a high value course (4 - 5 figure range) and then he optimizes their funnel by adding a form that the potential buyer has to fill out, which includes their email and phone number. Then he will schedule a call with the customer to figure out if they need the course, and if so, how it might help them, and this guy basically does high-touch sales. He makes money by taking a commission on each sale, something like 35%.

These are just a few examples of people I follow that have given me a lot of value in terms of thinking about other money-making opportunities than making yet another SaaS, as well as what to do for better sales and marketing of the product. Usually these people are much less perfectionistic than I am and just want to get their services out the door in order to make money, and then they worry about optimizing their processes. Sometimes us developer-focused indie hackers can get stuck in the "perfect MVP" cycle rather than thinking that the product is there to make money at the end of the day.

  1. 2

    Totally agree. What I appreciate about many of them is they stick to the basics while Indiehackers have a tendency to reinvent the wheel. While I disagree with some of their perspectives on other aspects of life, it's undeniable that they know how to make money running a proper business.

    For example, twitter.com/blackhatwizardd is worth following if you're interested in sales.

    1. 1

      Black Hat Wizard is pretty dope, I follow him. Do you ever buy any of their courses or anything?

      I also made a free community if you'd like to join.

      https://moneymakermansion.circle.so

  2. 2

    Thanks for this, I love seeing how other people are doing things.

    Any good way to find these people to follow?

    1. 1

      It's hard, you gotta follow them on Twitter and wait for them to tweet out their friends for example. It's similar to an insular community like indie hackers, but we have the Twitter sharing threads here at least.

      I'm actually thinking of making a paid NomadList-like info product site that has the best tweets from the money community, looks like a good opportunity... 🤔🤔🤔

        1. 1

          I made the community! It's free, I'll worry about monetization later.

          https://moneymakermansion.circle.so

  3. 2

    Money twitter is the BEST free learning communuty out there 🙌🏻

    1. 1

      Who else do you like in the community?

      1. 1

        https://twitter.com/cj_johnson17th is great for money mindset/investing. Super motivating content

        1. 1

          Thanks I'll check them out. In the meantime, I made a free community!

          https://moneymakermansion.circle.so

  4. 1

    How do you join this community in twitter ?

    1. 1

      Hey I just made a Circle community if you wanted to join.

      https://moneymakermansion.circle.so

    2. 1

      It's not like a forum like IH, it's just people on Twitter that are somewhat related in their interests and activities. I guess to join you just have to follow them on Twitter.

Trending on Indie Hackers
Competing with Product Hunt: a month later 33 comments Why do you hate marketing? 29 comments My Top 20 Free Tools That I Use Everyday as an Indie Hacker 18 comments $15k revenues in <4 months as a solopreneur 14 comments Use Your Product 13 comments How I Launched FrontendEase 13 comments