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Just stick with it, don't quit. It's a hard journey - $30k in a single month... finally.

A detailed account of a Fastlane process...

Ravens_Shadow

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If this thread stops one person from quitting, then it's done its job.

I've been on my "fastlane" journey since 2012 and as of the past month I finally hit my goal, which was to make $30k in a single month.. and we actually surpassed this. Our goal now is $60k per month, then $90k, and so on.

Just a few months ago, we were weren't making much at all. I started this company in 2016, and fought tooth and nail to build a team so that we could get everything going. It was painful. I cried at times due to how hard it was to make our products and get our business off the ground. Things just weren't going my way for the majority of my journey. When you come across these barriers of entry, don't let them stop you. Just keep going. It's at points like these when everyone else quits, and it's why you have to keep going.

If I had quit during my hardest times, I wouldn't be here talking about our successes now. Since I'm working on an enterprise instead of a lifestyle business, its taken me years to get to this stage. Now we're ready to scale this thing and become the next leader in our industry. I had to work day jobs during the majority of my journey, and you have to do what you have to do. Don't be ashamed of that.

Any way, I don't really have any other lessons here except to keep going. If you keep inserting quarters into the gumball machine, eventually a gold one will come out.


MODERATOR NOTE
For those wondering how Nick got to this point, his progress thread is on the INSIDE. He's provided pages and pages of material about his struggle, YEARS long, and quite detailed. So if Nick isn't being very forthcoming in this particular thread, it's not that he isn't willing. He's done so on his progress thread which is on the Inside and not indexable by Google.
 
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Ravens_Shadow

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What are the biggest obstacles and mistakes you’ve overcome? (Without giving away trade secrets)
Obstacles:
  • Building a good team with vested equity instead of capital.
  • Maxing out my credit cards on this business which forced me to get a job.
  • Making our technology faster/easier/better than our competitors.
  • Gaining traction when our first product was only "ok".
  • Having to balance family life, a job, and the business for years non-stop.
  • Overcoming potential customers skepticism about how much better our tool was. Now that we have a live demo out, it's not an issue to convince them, but during our initial marketing push, it was super hard to convince them without a product in hand.
  • Loneliness when trying to build something. Not having any friends I can relate to in person is painful.

Mistakes:
  • Bringing the wrong people onboard messed up a lot.
  • Not having an operating agreement from the start messed up a lot.
  • Paying legalzoom for things was a waste of money.
  • Starting with the wrong product. We had one product, it did alright and put us on the map, but it was mostly a flop as it didn't provide enough value by itself. We should have started with our current product first. However, a the time we didn't even have the skills or the team to do it, so I don't blame myself.
  • Choosing the wrong licensing/payments platform at the start. Down the road we had to cancel all of our subscribers subscriptions when migrating and most never came back.
  • Not having personal finances and business finances separate for the first two years.
 

MJ DeMarco

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Congrats Nick, it's been quite a ride for ya.

For those wondering how Nick got to this point, his progress thread is on the INSIDE. He's provided pages and pages of material about his struggle, YEARS long, and quite detailed.

So if Nick isn't being very forthcoming in this particular thread, it's not that he isn't willing. He's done so on his progress thread which is on the Inside and not indexable by Google.
 

Ravens_Shadow

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Wow, I'm surprised to read this. I always thought for many of the more capable and successful fastlaners here, they know exactly what to do, where things are going, and have fixes to most of their problems, like how a very experienced top pilot handles an airplane.

Btw, is your software suitable for individual consumers also, or is it for big production houses like Double Negative etc? I remember reading previously that it's a Vfx / Special fx software that simplifies a lot of things and can do special effects a lot easier.

Most of us probably don't know what we're doing in a lot of cases. We just keep doing it until we figure it out. For me, I have ideas and a vision of what I accomplish, and then I try to move mountains to figure out how to get it done. Sometimes a boulder comes down and smashes your toes and that's when you cry for a bit. Then you keep on going at it.

As for our product, we target both major studios and individuals. I don't want our company name out in the public thread here.
 
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Ravens_Shadow

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whoa what happened with legalzoom?
You're better off paying an actual lawyer for operating agreements, LLC setup, etc to get your accounts going with them. Legalzoom is just upsell after upsell after upsell. Sure, you might get setup quick with them and real lawyers are more expensive, but the real lawyer will actually make changes that you need, and you can build a meaningful relationship with them.. which you will need on your journey. Atleast if you're going the enterprise route with a team.
 

Ravens_Shadow

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We finally passed $1 million ARR this week and I wanted to show that even if you get your a$$ chewed out on this forum, sometimes it's what you need. Back in 2013 I was action faking hard and @Vigilante saw through it. I could've just left the forum and never came back like 99% of the new users on here do. I chose to stay and actually change my life. It took 7 years to reach my goals from this time of vig's post. Don't be the person that goes back to their xbox, because a life where you are actually free and unscripted is so much better than that.

Building a million dollar company is HARD, but it's worth it. This is the result of thousands upon thousands of calculated decisions to change my life. What decision are you going to make today to set yourself free?

chrome_QG4r9V5Suf.png
 

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Ravens_Shadow

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Got up to $50k now.. and within the next month or two should be at $75k due to our current trend. Don't quit!
 

Ravens_Shadow

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Congratulations and thanks for sharing your story. It's very inspiring!

How did you realise your 1st product was a flop?

Couldn't it just have been because it wasn't marketed well enough? Or maybe it would have been successful with more of the right features?

How did you know that it was fundamentally flawed?


It was a flop in the sense that It didn't generate a whole lot of revenue. The people who used it loved it and it taught us a lot about developing tools for our niche. In the grand scheme of things it just didn't provide "enough" value by itself as it only did one thing. We still sell it today, and we added it to a suite of products. It's much more useful now paired with our new flagship product.

Here's an analogy of our products: Worlds greatest french fries..

Our first product was merely a potato peeler, with just that, you're not gonna get too far when you are wanting to make the worlds greatest french fries as you're missing potatoes and everything else.

Our flagship (new) product is the potatoes, seasonings, and the fryer. First product + new product in a bundle = worlds greatest french fries.

We sell desktop software, so each of our products are separate/standalone. We had to build our newest product from scratch and it wouldn't have been worth it to put the two tools together into a single tool due to how fundamentally different they are. The great part is though, that one software can export something that the other software uses. Thus, we make more money selling them in a bundle.
 
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Ravens_Shadow

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MJ DeMarco

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Got up to $50k now.. and within the next month or two should be at $75k due to our current trend. Don't quit!

You lie! That Fastlane crap from DeMarco is a scam! ;)
.
.
.
.
.
.
.
.
All kidding aside, congrats my friend. You have created a productocracy, now the big question is just about market penetration and size of market.
 
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Ravens_Shadow

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I'm a software guy myself. How did you validate / decide to actually go down this road? I find myself having a lot of ideas but being afraid that it won't sell etc and that it would be a waste of time. The regular.

Just industry knowledge/experience. I knew it was a pain point of mine for years and years and when I was looking for a better solution there still wasn't one, so I knew it was my go-to idea. I'd actually had the idea for our flagship product since 2012, but I didn't get to start on it until late 2018. It took me that many years to learn what I needed to learn about business, build the right team, kick myself in the a$$ to actually start something (started this company in 2016), and launching a simpler product first. I joined relevant forums and asked around for suggestions and got on calls with large companies asking what they would need from such a product. We were showing live demos of our pre-alpha to enterprise customers and they were extremely excited even at that stage.

You just ask around, make a prototype and see if people like it. Then you see if people will buy in early to get you some funding. I built my team on equity and showed them my vision. We're bringing on our 4th full-time person next month.

Any updates? Can't wait to hear how things have been going.

This month we'll close out with about $70k in total revenue for our company from all sources. Last months software sales weren't the best but other things helped us out. This month, our software sales are on fire! Next month some extra juice kicks on some other deals so maybe we'll hit that $75k we're aiming for?
Most of our sales are annual licenses so it's hard to predict our "monthly" revenue. 50% of our money comes from large enterprises, 50% of our money comes from freelancers/hobbyists/etc. I have so many plans to increase our revenue, just a matter of time before they're all implemented. I think by years end we could see a $100k month. Hopefully that trend would stick!

I've sold to many well-known organizations, too: NASA, USPS (and about every other government agency), Apple, Epic Games, many colleges and universities, Oprah Winfrey Network (OWN), Amazon, Starbucks, Netflix, the Cleveland Clinic, and many more. If i knew more about marketing i might be doing better. Pretty hard to wear so many hats.

We sell to many of those types of clients as well, even some that you mentioned.. it's a long process to do so. I quite like wearing all the hats, but it's very hard as you mentioned.
 

MJ DeMarco

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Especially your sentence about the hard times and "thats where the others quit" got me excited.

Well lets be clear, Nick has created a great product that definitely fits the terms of a productocracy. He's always just been in the stage of trying to get it exposed and into the hands of the right people.
 

Ravens_Shadow

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Thanks for the reply.

That's interesting how you decided to develop a 2nd product even though your customers loved the 1st one.

How did you realise that your 1st product was just the potato peeler and not the potatoes, seasonings and the fryer? And I don't mean in hindsight, I mean back when you only had 1 product and nothing else to compare it with.

At what point did you say: "We need a brand new product"? And why didn't you make that sooner?

Most companies have little to no revenue at the beginning so it's hard to decide with that alone.

I'm asking because I'm in the situation now where I don't know if I should continue working on my product or look for a new problem to solve. Trying to figure out the thinking process behind knowing if a product is the potato peeler or something more.

tl;dr: I know my market, and I had a gut feeling that it was time to start on our new product as i knew it had way more potential. We didn't start earlier because we didn't have the team/time/know how.

Since I know my market extremely well and actively communicate with our customers, I initially figured "Hey, product one solves a problem for me, so it has to do that for everyone else too". It turns out that not everyone had a use for what we were offering once we actually made it. Their specific situation might not have let them used our file format or they just weren't interested in it because they just didn't care about it. We tried selling it in all sorts of ways and created various product pages with some success. For some, they absolutely needed it and loved using it. It's just after two years of little revenue and non-stop grinding at it, you kinda figure out via a gut feeling that something has to change. It seems like you're already there in your case.

Back in January we were working on some new features for our first tool to really modernize the way people use it, but I pulled the plug on that because I felt that putting effort into this new product was a better use of our time. Product one in the end still produced the same thing, just in a different way, so it wasn't any more useful. For this new product, I've actually had plans for it since 2012, I just never knew how to act on it because it was incredibly difficult to solve. But now you can see that we've solved it haha.

The reason we didn't start this product sooner is simply because we didn't have the team to do it, and this new product is just leaps and bounds more complicated and technical. Shortly after deciding to do it though, we brought on some great new people and started building out our new product.

I just had to make the executive decision to change course, and it was the right move. Trust your gut.
 

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I think by years end we could see a $100k month. Hopefully that trend would stick!
Things are out of control, already blew past $100k in revenue this month. At this point, not gonna go into the nitty gritty numbers anymore.. but we're well on our way to millions now. I've got job postings up now as I need to hire new hands! We're growing and scaling fast.

Every morning I wake up this is me:
tenor.gif



Just stick with it! If you build a productocracy you'll be more successful than you ever thought was possible.

Also.. enterprise business for the win?
 
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MJ DeMarco

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I'd linkedin message the person that I wanted to talk to at a specific company and ask them if they'd schedule a call with me (after a pleasant conversation of course) or they would have signed up as a lead on our email list. While building the product, we had our email list growing for atleast 6 months or so under the signup reason of "Get your early access alpha invitation when it's ready".

We built up so much hype over the product that we were getting daily emails asking us if we sent out invitations yet and if we did could it have possibly gone to spam?

Here's the general template I sent to large companies via email:
-----------------------
I saw that you signed up for our [PRODUCT] invitation and I’m reaching out to see how we can ensure that your needs for [XYZ] are met. [A few sentences of filler information thats relevant to the company/person i'm reaching out to.]

What do you think your use of [PRODUCT] will be and do you need [X FEATURE] support?

I’d love to hop on a call and demo our software for you, so that you can get a first hand look at what we currently have. You can schedule a demo with me by following this link if you and/or your team have time available: [LINK to schedule a call on calendly]

I look forward to hearing from you!
----------------------

I ended up scheduling a demo with 90% of the people I emailed from our list.

Thanks for sharing this tidbit ...

Thread upgraded to Gold.

Please remember the forum when your company is sold for $200 million dollars. :)
 
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love me some @Vigilante . need him in here more so i can show my tender side. lol

@Ravens_Shadow i am really proud of you!

now we need to get your head out of your a$$ and get to $10M. let's go!
 
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Ravens_Shadow

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Well lets be clear, Nick has created a great product that definitely fits the terms of a productocracy. He's always just been in the stage of trying to get it exposed and into the hands of the right people.
And get it to a point where it's ready for people to use haha. It's extremely technical and just takes ages to build right. We went ahead and released this latest product far before our MVP. We're embarrassed, but look at how much people want it, even in it's current stage. Definitely a productocracy, and I could see that, which is another reason I kept going forward.
 

Ravens_Shadow

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Brilliant!
Too many are afraid to do this work, because of the rejection/intimidation factor. How did you approach the targets to get demos?
I'd linkedin message the person that I wanted to talk to at a specific company and ask them if they'd schedule a call with me (after a pleasant conversation of course) or they would have signed up as a lead on our email list. While building the product, we had our email list growing for atleast 6 months or so under the signup reason of "Get your early access alpha invitation when it's ready".

We built up so much hype over the product that we were getting daily emails asking us if we sent out invitations yet and if we did could it have possibly gone to spam?

Here's the general template I sent to large companies via email:
-----------------------
I saw that you signed up for our [PRODUCT] invitation and I’m reaching out to see how we can ensure that your needs for [XYZ] are met. [A few sentences of filler information thats relevant to the company/person i'm reaching out to.]

What do you think your use of [PRODUCT] will be and do you need [X FEATURE] support?

I’d love to hop on a call and demo our software for you, so that you can get a first hand look at what we currently have. You can schedule a demo with me by following this link if you and/or your team have time available: [LINK to schedule a call on calendly]

I look forward to hearing from you!
----------------------

I ended up scheduling a demo with 90% of the people I emailed from our list.
 

Ravens_Shadow

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So I saw this post in an e-mail notification as this weeks best topics. It's been so long I have not logged in this forum in forever. Coming from someone who also started this journey in 2012, your thread kept me going. At most I was able to only make $1,000/month and that was GROSS profit.

Thank You and congrats!!
Just keep going! You'll eventually hit your goals by putting in work where it matters, and sticking with something that you have a good gut feeling about.
 
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Congrats!

What business are you in?
 

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Can you say what tools you use to make your software? I ask because I have been so focused on web and mobile stuff, I have not thought much about native desktop apps. I assume for Mac it would be Xcode/ObjC or Xcode/Swift, and for Windows it would be VS/C#?
We use sublime text 3 as our IDE with visual studio 2017 as our compiler. We use GLSL (for graphics/shaders) and Odin as our language of choice. Odin is just like C++ but much faster to write. Currently we're windows only, so nothing on mac at this time.
 

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Thanks for sharing this tidbit ...

Thread upgraded to Gold.

Please remember the forum when your company is sold for $200 million dollars. :)
Thanks for the upgrade to gold! I do intend to keep posting on the forum, even if we sell for that much! :cool:
@Ravens_Shadow ... who owes whom a steak? did that ever get resolved?
you are kicking a$$ by the way!! proud of you!
You probably owe me a steak for treating me so rough. :rofl:
 

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Chyeaaaa boiii. Just another overnight success. Glad to have been able to watch you grow and develop as an entrepreneur.

Keep that shit up ;)
 

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@Ravens_Shadow ... who owes whom a steak? did that ever get resolved?
you are kicking a$$ by the way!! proud of you!
 

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Sorry if this look rude, but do you have any evidence that support your claim of having a company that make 30K per month profit ?
such as company website ?

It’s good to be skeptical.

I can personally vouch for his progress and revenue, if that matters to you.

We have been supporting each other long enough that I know what he had to get through to get to this point.

@Ravens_Shadow has never been shy to share with me or anyone what he does, but having it on the google index on this site probably isn’t in his best interest.

I don’t think @Ravens_Shadow has to worry about copycats, and it’s not my place to share his business.

Its taken him years to get here, this is no overnight success, get-rich-quick, long-con stuff you see all over the internet.

EDIT: Also please see moderator note in the OP
 

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Hi @Ravens_Shadow,

1) How did you find your productocracy opportunity ?

I just knew the market and saw a big void in how the other tools out there worked. Just because companies are big doesn't mean they are solving the problem correctly, and it's often the case that they aren't solving the problem correctly.

2) If you are a programmer, why didn't code your software product by yourself ?

I'm not really a programmer, I just learned what I needed to know to build our first products prototype from a book I bought at the book store. Our flagship product is far far above my head and programming skills so I needed a team. I gave away plenty of equity to get the company built, and I'm very glad I did that instead of getting investors.

If both of these questions have been answered in your Progress Thread on the inside, let me know so I can subscribe and read.

Subscribing to read my thread is worth it I bet. I outline just about everything in there.
 

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