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founders.menu 015 » startup adoption behaviour & 6x new ingredients
Dive into startup adoption behaviour, get 3x new reads, 3x new streams and ponder multi-product vs. single-product entrepreneurship.
Julian Paul
April 14, 2024
Happy Sunday. ☼
Read time this week → 4 minutes.
A warm welcome to 5x new subscribers who got a template, an account or signed up directly for the founders.menu newsletter – it’s great to have you!
Starter » a mental model
Startup Adoption Behaviour ↓
All companies started with few paying customers. Your innovators are the absolute nerds and evangelists in your space, but they are not comparable to the majority of the market. This Adoption Behaviour illustration was originally coined by Ohio State professor Everett Rogers in 1962 and still makes a case for startups nowadays to overindex on acquring early adopters. You can identify these a couple of ways:
‣ They are trying to solve a top 3 top of mind challenge in their life.
‣ They “pull it out of your hands” because they need it so much.
‣ They are willing to spend time & money on an 80% solution.
If these 3x descriptors are not the case, they are likely not your early adopters and you need to keep on looking. To make identifying early adopters easy, there is something called the SPA Treatment, which will help you prioritise your potential customer segments and early adopters to know which to tackle first, next & later. By identiying the size of the market, the price they are are willing to pay and the accessibility of said customer segment to yourself, you will get get a good feeling of who you should target and speak to first.
Who are your early adopters & why are they the right fit for your startup?Ready to make sense of your adoption curve? Get the free SPA Template:
Here is a quick overview with some fresh ingredients on the founders.menu (we are currently totalling 658x ingredients across 5x startup stages):
ϟ Tools | ䷀ Reads | ⦿ Streams | ⟐ Templates |
|---|---|---|---|
554 [-] | 67 [+3] | 18 [+3] | 9 [-] |
3x fresh ⦿ Streams
3x fresh ䷀ Reads
As promised, you can now submit directly via founders.menu/submit, so you can suggest any HQ ingredient you feel should be on there.
What’s next? Product detail and /blog pages are still in the works.
Desert » past week’s startup highlights
 | [1] With Gumroad Day on April 4th over (0% fees for the platform), one user got the closest with a competition to guess total earnings. The result? $775,126.12 in creator earnings on that day. |
 | [2] Ben Fryc has launched Pre-Orders for the highly anticipated knob.design keyboard. It costs $439 and will ship in Q3 2024 with both ANSI and ISO layouts with several language options. |
 | [3] Naval Ravikant just exited Beta with an invite-only scheme to air.chat, a mobile-only social platform with no keyboard and only a voice-to-talk engagement mechanism. It’s causing a stir and has a goal that fills a void since Corona – is it in time? With growing loneliness, probably. Time will tell… |
 | [4] Tibo shared an interesting statistic for Gemini covering over 25% of global ChatGPT traffic without activating existing distribution channels. Tibo poses a fair question as to whether ChatGPT will dominate long-term. |
 | [5] Farbood Nivi just released withsequel.com, an open-source longevity AI that runs locally on your machine. It will allow you to chat with your complete health picture: blood labs, Whoop, DEXA, MRI, therapies, drugs or supplements you’re on. |
Sides » this week on early.tools
W15 2024 in review ↓
‣ Daybox [Waitlist] by @mrjeremyblaze
‣ @memokit_app [Beta] by @CustusFox
‣ Basefront [Alpha] by @J__Rosen
‣ Deximal [Waitlist] by traf
‣ @themind_ai [Waitlist] by @adamzvadaCuration resumes 15/04/24.
Check the #linkinbio ⇪
— early.tools (@earlytools)
Apr 13, 2024
Fín » food for thought
Marc Lou is probably one of the most prolific Indiehackers out there… I always appreciate when people with lots of online success share that it’s not always the “overnight” or “one-hit wonder” success story. It’s often multiple swings and years of heads-down work that result in a compounding success. This is sobering to read this and makes me wonder:
Do you prefer a multi-product success where you might get multiple smaller paydays? Or a single-product success that might result in a big payday? I don’t think there is a right answer here, just a preference on what your mind can handle best. I think for business the “less is more mentality” is needed since a success like Marc’s requires sophistication in lots of different specialised areas (design, coding, communication…) to work out and that’s hard. So if you don't have that, you’re better off focusing on 1 or 2 things max.
But what do you think here? Feel free to reply to this email…
Revenue for 6 years of entrepreneurship and 28 products:
- Most never made money
- 1 pays higher than a programmer's hourly rate
- 72% of the revenue was generated in the last 6 months— Marc Lou (@marc_louvion)
Apr 12, 2024
DM & reply-to-email is open.
See you next week. ☻
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