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[FD140] Lower churn, validate ideas, and podcast better.

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December 4 · Issue #140 · View online
The Friday Dispatch
Happy Friday, Founders!
Welcome to December, also known as “the month before we can start talking about all the crazy sh*t that happened during 2020 in the past tense.”
“TMBWCSTAATCSTHD2ITPT” for short.
(You’re welcome)
Our schools recently went back to full-time e-learning so I’m helping my son understand this weird HTML5 presentation on how to use Visio. I can’t help but wonder: Why are we teaching 7-yr olds Microsoft Office tools from a Chromebook?
It’s all very strange.
Enjoy your resources folks, and your weekend!
-Ken

4 Resources to Help You Grow Your Business
11 Basic Tips to Lower Your Churn Rate | SaaStr 11 Basic Tips to Lower Your Churn Rate | SaaStr
How Growth Tools Used Tiered Pricing to Quickly Increase Revenue 25%
He Launched His Business From a Van. In Greece. During COVID. He Launched His Business From a Van. In Greece. During COVID.
How to Validate Startup Ideas... via Reddit?
Indie Hacker Ihor Stefurak is working on a new approach to validating micro-SaaS ideas.
The best part of this approach is how fast you can iterate on ideas. Ihor and his team use this to go from idea to customer-friendly MVP in a matter hours.
Here’s the scoop…
Ihor’s team launched 5 micro-SaaS projects (so far) by using this Reddit validation-first approach, including a “cash cow” Email Verification Add-on and a recently launched personal productivity micro-SaaS: Silent Inbox for Gmail.
Here’s the high-level of the process…
👉 Whenever Ihor gets an idea to validate, he writes down at least 5 keywords related to it. For example, Ihor might write down: “meditation”, “breathwork”, “breathing technique”, “anxiety”, “stress”. Enter one keyword at a time into the Reddit search bar and it will give you a list of subreddits where your keyword is mentioned.
👉 Find at least 5 subreddits with people who discussed your topic. Make a copy of Ihor’s spreadsheet, collect information about the number of readers, and paste those numbers into the spreadsheet. Pro tip: don’t waste your time on subreddits with less than 10K readers.
👉 Go to Related Subreddits by User Overlap. You need to check every subreddit you found by searching your terms to get more ideas on when your potential audience is hanging out.
👉 Read posts within each subreddit to see if people might be interested in your project. Add subjective relevance to the spreadsheet, where 10 is for super relevant subreddit.
👉 Once all numbers are added to the spreadsheet, sort your list of subreddits based on the Score it calculates for you.
Congrats! Now you’re ready to pick the most relevant subreddits, plan content, write a title, research the best time to post, etc.
Did you find this helpful?
If you’d like a step-by-step, how-to guide (with spreadsheets and Notion template), Ihor Stefurak has put together a handy and practical guide on validating project ideas using Reddit.
ATTENTION: be sure to use coupon code MJAM5 for $5 off this guide!
Frankly, if you’re stuck, unsure how to find an idea for your next project, or you already have a micro-SaaS product idea but you need a way to help validate it and find first customers, this is a bargain at twice the price.
Here’s the link to the guide, one last time:
Use code MJAM5 at checkout to save $5
3 Tools You Should Try Today
Grain: Record, Transcribe, and Share Zoom Call Highlights Grain: Record, Transcribe, and Share Zoom Call Highlights
BGJar: Free SVG Background Image Generator for Your Websites
Pod Decks! (And, hey: they also have a mobile app)
Pod Decks! (And, hey: they also have a mobile app)
Are you a podcaster? Have you heard about Pod Decks?
Pod Decks are a hot new tool for podcasters looking to have more meaningful conversations or gamify their podcast.
But…
What ARE they?
It’s simple. Imagine a deck of cards, but each card is full of amazing podcast conversation starters. That’s Pod Decks.
Pod Decks are unique interview questions and episode starting prompts in the palm of your hand.
Simply shuffle up, ask a question, and let the content roll!
Get yours today at poddecks.com and use code MASTERMIND10 for 10% off your order!
Have You Ever Raised Funds for Your Company?
If you’ve ever raised funds you know how hard it can be to get clear, comprehensive data about the process.
Even professional investors often don’t have a complete, unbiased look at what is normal in the industry, and what needs to be fixed.
Well, DocSend is trying to help change that for the better.
If you’re a founder who’s raised a round, or a professional investor, here’s how you can help…
Win $500 From DocSend While Helping the Founder Community
This year, DocSend has released data-driven reports on raising pre-Seed, Seed, and Series A rounds. DocSend also shares data on bias in the fundraising process based on gender and minorities in a report called The Funding Divide.
Previously, their reports were based solely on proprietary data submitted by founders and investors who are DocSend customers.
To gather more data across the startup ecosystem, DocSend decided to change things up and cast a wider net. Here’s how…
This year, non-DocSend customers can participate and contribute data, too.
You can contribute to their research by participating in this year’s fundraising survey.
Founders who’ve raised a round and investors from anywhere can submit responses. No matter where you are, no matter if you’re a DocSend customer or not.
Don’t worry: all data is aggregated and anonymized.
Here’s the TLDR…
Fill out the DocSend 2020 fundraising survey to enter to win a $500 Amazon gift card.
The fine print: This issue of The Friday Dispatch contained a few affiliate links and promotion codes that pay me a small amount if you purchase. Hope that’s cool. I share something I think might be useful, you get a discount, and I get a small incentive to keep this newsletter free. See? We ALL Win!
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