About the product
After successfully running & operating multiple SaaS businesses, I decided to test my LinkedIn hypothesis. And here's why...
LinkedIn has helped me to scale B2B businesses with $0 ad-spend. We managed to grow from 0-1M ARR in 2 years.
But let's face it. LinkedIn gets a bad rap these days.
You accept the connection request. And it turns into a handshake to pitch. Connections keep piling up. And there is no meaningful way to organize your connections and sustainably grow the network maintaining good relationships. The clutter is insane. 🤯
But LinkedIn is still one of the most popular networks. It's an exceptional place for people to connect, share, learn, and create opportunities together.
We believe that a thoughtful renovation will do.
In March, when COVID19 hit the news, I decided to acquire a code-base that was meant to be a LinkedIn Chrome Ext (never went live, horrible interface, but a solid code-base).
Soon after, I set-up the landing page and installed the viral-loops referral program, inviting a few friends as a total anonymous. I believe that copy was the key to getting that program to work. Not sure, though.
While that engine was growing, I managed to gather my high-school buddies to help lift this up - product dev wise.
They worked part-time and managed to get it done in 4-6 weeks.
In the meantime, the engine brought us, 147 subscribers. "Not great, not terrible."
We weren't ready to launch. So we made a compromise. Let's do a silent/closed Alpha to only 10 testers.
FYI: that's not how Google Store will approve you :)
When I figured that out, I switched to "public" and clicked "Submit for review." Didn't tell the team because it was buggy, and we had broken links (such as refer-a-friend).
A few days later, the Google store approved us.
The guys weren't as comfortable with that...
...but as soon as we got the first few downloads, users started appreciating the app, and also pointing out the bugs and what we can do better.
AND THAT IS THE WHOLE POINT :)
As I mentioned on Twitter @VedranRasic:
If you want to start a profitable business: a) You don't need everything figured out and b) It's not about how many hours you put in. It's about making constant progress. You make progress not by putting in the hours but by iterating relentlessly.
My main KPI is to get this thing to revenue.
And as I pointed out, I don't want to take the easy route and build a sales product. There's plenty of those.
We are making $0 in revenue as it's a free product ATM. I am trying to understand where we can innovate through customer interviews and assumptions that we have.
We are extremely focused on ranking the feedback.
The easy feedback that I get is to build yet another sales platform. But there are also lots of Product Owners, Marketing people, Developers, CEOs who are giving us something that's very different and unique.
Can't wait to implement some of these brilliant ideas!