TL;DR: Getting to $2K MRR in a month

The key strategies used to get to 200 customers and $2k in revenue within 30 days for Hodlbot; a customizable cryptocurrency trading bot.

@suanmoo

Here are the key strategies from Anthony’s article:

Find early-adopters in niche communities

• “It’s hard to get the front page of reddit. But it’s easy to get to the front page of a niche subreddit”
• “much less competition in niche subreddits so you can noticed pretty easily”
• “niche communities tend to be extremely segmented, so you can easily find members that fit your target persona.”

Getting 500 pre-launch signups from a single comment

• “biggest day of traffic we ever got came from one single comment on Hacker News”
• “If you can fit into the conversation at the right time, people will pay a lot more attention to you.”

The power of referral

• “Every time someone refers HodlBot to their friends, they get 1 month free.”
• “So far, 10% of all paid customers are referred.”

Focus on making one good thing first

• “No one sees the product inside your head. No one sees your grand vision. You need to have something good, now.”

Avoid analysis paralysis

• “Our conversion rate from sign-up to API keys set-up was not so great during the first week of launch” = “We could have halted growth, and instead shifted resources to build different variants…”
• “If we did , I promise you, we would be nowhere near close to the 200 paid customers we have today. “
• “I’m not saying iteration isn’t important. Just don’t go down the optimization rabbit-hole too early.”

Validate your product by asking for >$0

• “It’s hard to prove your product is valuable if you are giving it away for free.”
• “We ask our customers to pay $1 for the first month. Do we really need the $1? Not really. But it forces our customers to have skin in the game.”

Good CS makes up for flaws in your MVP

• “One of the best decisions we made was to plug in FB messenger live-chat as a widget on our website.”
• “urs had bugs aplenty. But for some reason, nobody ever got angry at us …”
• “people seemed happy when they had an issue, as long as we were able to reach out quick enough..”

Build a community

• “I created a Telegram group for HodlBot users to discuss all things crypto.”
• “ truly awesome thing is that users will discuss what they want amongst themselves and… Here’s an example of an organic product feature bubbling up from the conversation.”

Live by one metric

• “It’s hard to care about every single metric.”
• “Pick one that is really important, set a goal for it, and rally the entire team behind it.”
• “We chose # of total active customers — total paid customers minus churn”

Check out more TL;DR summary of strategies for your business, head over to Growthunt.com and check out our database.