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Ask HN: How to turn a “toy” side project into a business?

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Re: Ask HN: How to turn a “toy” side project into a business?

#12
- Cold call marketing

- Sell it as a cost-saving technology

- Figure out how much alternatives are costing them and tell what they could be saving

- Offer the paid plan for a trial period

- Limit the size of the organization, but open the free plan to more than one-on-one

Re: Ask HN: How to turn a “toy” side project into a business?

#13
post #5

The same way you turn anything into a business: figure out who will pay how much money for what. Then, figure out how much it will cost you to provide that to them and tell your future customers that you exist. If the former is more than the latter, you might be able to make a viable business. Your existing users might be good leads, or they might not. At the least they see enough value in your offering to use it for…

Interest is measured in how many will pay and how much. As said above, you need to talk to your users and figure what features have value and what that is. Rinse and repeat.

Re: Ask HN: How to turn a “toy” side project into a business?

#14
- Actually phone up at least one new sign up per day. Ask why they signed up, what they use it for, how it compares the the others they have used and what would they pay for - unlimited time, number participants whatever. They will try to be nice - assume they lie. most importantly how did they hear of you. Pay attention to the vocabulary they use. What you are trying to get here is your elevator pitch - but told to you by your customers "Video chat right in Slack"

- You now have some idea of channels to market - ten people signed up because of a facebook post or because of a linkedin article or a google search - so choose a channel - facebook / linkedin / SEO. Just produce ten articles or pay for ten adverts - and see what traffic changes you get - stick at it - you are looking for a channel to market. Somewhere somehow there is a way of reaching a potential audience - with a sales pitch you learnt from above you want to find where that sales pitch reaches the most of your potential audience

- pricing - this matters less than the above especially as you are aiming at busiesses - I would say Slack has a pricing norm so you may want to charge per user but aim for 30/55/75 or there abouts.

- keep trying new sales pitches, and vary the channels you try slowly.

-

Re: Ask HN: How to turn a “toy” side project into a business?

#15
post #3
post #2

I thought Slack has video rooms?

Yeah they have video rooms... Hallway can use any video room software

I'm 100% unclear what this product does. Slack already has video, or you can use any other video room software to also do what it already does?

What am I missing here?

Re: Ask HN: How to turn a “toy” side project into a business?

#16
This isn't the answer you want. But I have a hobby side project that I've kept going for a decade, and which gets high enough use to feel like it's worth keeping going.

It costs server money to run, a couple of take-away-coffees per week's worth. In the past I did agonise about putting ads on it, or otherwise monetizing it.

But at some point I decided that as I was lucky enough to have a paying job, the marginal returns I would get by trying to monetize the site wouldn't be worth it, and I was happy to pay for it like any other hobby. The grateful emails I get every couple of weeks make it worthwhile.

That was a very liberating decision. Mix business with pleasure and it stops being fun.

Re: Ask HN: How to turn a “toy” side project into a business?

#18

This isn't the answer you want. But I have a hobby side project that I've kept going for a decade, and which gets high enough use to feel like it's worth keeping going. It costs server money to run, a couple of take-away-coffees per week's worth. In the past I did agonise about putting ads on it, or otherwise monetizing it. But at some point I decided that as I was lucky enough to have a paying job, the marginal retu…

Mind sharing the link to your Hobby project for me to check it out? :)

Re: Ask HN: How to turn a “toy” side project into a business?

#19
OK, so now you have version 1.0 of a product.

Read about MVP (Minimum Viable Product) the Wikipedia entry is fine, then the decision tree is as follows:

Do you want to try to make a MVP out of this? YES / NO

IF YES: establish a budget, a timeline, and tangible metrics and go for it

IF NO, new decisions tree: Pivot existing product OR scratch it and start a new one (using the knowledge acquired building this and the MVP knowledge)

Re: Ask HN: How to turn a “toy” side project into a business?

#20
First question you need to ask: why would someone pay you $30/month to add something to Slack?

The answer to that question is going to be a mystery to anyone reading your homepage. "make working from home less lonely" - I don't know what that means, but I don't know many individuals that want to pay $30/month for it, and it's not a very compelling argument for a business either when the economy is in the toilet and getting worse every day.

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