I Make $15K/Month With 2 AI Apps

Key Concepts

• Niche Down: Focusing on a specific segment of a larger market.
• Validated Market: Entering a market where demand is already proven.
• Building in Public: Sharing the development process openly.
• Freemium Model: Offering a basic version for free and charging for premium features.
• Barebone Product/MVP: Launching a product with only the essential features.
• Churn: The rate at which customers cancel their subscriptions.
• SEO (Search Engine Optimization): Optimizing online content to rank higher in search engine results.
• No-Code Tools: Platforms that allow building applications without traditional coding.
• B2C (Business-to-Consumer): Businesses that sell products or services directly to consumers.

Finding Winning Ideas

• Scratch Your Own Itch: Solve problems you personally experience. Fernando found that creating resumes and social media carousels were time-consuming tasks, leading to his product ideas.
• Niche Down: Target a specific segment of a large market. Big companies like Canva can't focus on very specific solutions, creating opportunities for solopreneurs. Fernando states, "I only need 0.1% of the market and I'm good."
• Validated Markets: Enter markets where demand is already proven. Instead of creating something entirely new, improve upon existing solutions.
• Simplicity: Focus on creating simple solutions that save people time. Fernando says, "I don't sell design, I sell time."

Validating Ideas

• Different Approach: Take a new approach to a validated market. Resume builders were bloated, so Fernando created a one-button resume builder.
• Early Feedback: Launch a barebone product to get early feedback and iterate based on user input.
• Paid Users: The ultimate validation is when people pay for your product. Even if the product is buggy, paying customers indicate a real opportunity.

Building the Product

• 10-Day Challenge: Fernando used a 10-day challenge to build AI Carousels, creating a sense of urgency.
• Building in Public: Sharing the development process openly on Twitter and LinkedIn.
• Barebone Product/MVP: Launching a product with only the essential features.

Distribution

• Product Hunt: Launching on Product Hunt can help spread the word, especially if you win "Product of the Week."
• SEO: Building free tools that are complementary to your main product to drive traffic. Fernando built about 30 free tools.
• Affiliate Program: Launching an affiliate program to incentivize others to promote your product.
• Building in Public: Sharing the development process openly on Twitter and LinkedIn.

Pricing Strategy

• Affordable Tool: Position your product as an affordable tool, not a cheap one.
• Subscription Model: Transitioning from a one-time purchase model to a subscription model can provide more predictable revenue, even with churn.

Reducing Churn

• Expand Product Offering: Offer additional tools and features to keep users engaged. Fernando started with carousels but expanded to offer other tools.

Customer Support

• Fast Response: Respond to customer inquiries as quickly as possible.
• Embrace Being Small: Leverage the fact that you are a solopreneur and offer personalized support. Fernando states, "It's only me here, you're talking directly with the founder."
• Turn Frustrated Customers into Loyal Fans: Fix bugs and implement feature requests quickly.

Tools and Software

• Notion: Used for organization.
• Outseta: A no-code tool for billing, CRM, and subscriptions.

Costs

• Lean Operations: Keep costs low by using no-code tools and avoiding unnecessary expenses.
• High Profit Margins: Fernando's businesses have profit margins above 90%.

Competition

• Competition is Good: Competition validates the market.
• Focus on User Feedback: Don't get caught up in trying to one-up competitors with new features. Focus on what users actually want.

Day-to-Day

• 4-Hour Workday: Fernando works only 4 hours a day, focusing on deep work in the mornings.
• Work on Weekends: Working on weekends helps maintain momentum.
• Prioritize Life: Optimize for life, not just revenue.

Advice for Solopreneurs

• Simpler Solutions: Users often want simpler solutions, not complex ones.
• Value in Saving Time: If you can provide a way to make something faster and simpler, people are likely to pay for it.
• Tiny Tools: There's nothing wrong with focusing on building a tiny little tool that saves people time.
• Freedom: Creating a business that frees up your time to do what you care about in life.

Notable Quotes

• "I only need 0.1% of the market and I'm good." - Fernando, on niching down.
• "I don't sell design, I sell time." - Fernando, on the value proposition of his products.
• "It's only me here, you're talking directly with the founder." - Fernando, on embracing being a solopreneur.

Synthesis/Conclusion

Fernando's success with Resume Maker.Online and AI Carousels demonstrates that solopreneurs can build profitable businesses by focusing on solving specific problems, niching down in validated markets, and prioritizing simplicity. His approach emphasizes building quickly, getting early feedback, and providing excellent customer support. By leveraging no-code tools and focusing on efficiency, he has created businesses with high profit margins while maintaining a 4-hour workday and prioritizing his personal life. His key advice is to overcome self-limiting beliefs and focus on building simple tools that save people time.