LfM

Who's Arvid Kahl 🧐

Arvid Kahl 👨‍💻 is the maker behind The Bootstrapped Founder newsletter 💌 and is the one responsible for a lot more awesome content aimed at maker 🚀He has cofounded, bootstrapped, and sold FeedbackPanda, an online teacher productivity Saas company.His focus is to share his experience and best advice when it comes to starting your business.

What is The Bootstrapped Founder?

The Bootstrapped Founder is a weekly newsletter with each edition diving into one important aspect of launching your own bootstrapped business.Arvid shares his learnings and insights he collected from building FeedbackPanda with one goal in mind: help makers build and grow their business, bootstrapped no less. 🤩Each edition is packed with guidance about a specific aspect of running a business such pricing, feature prioritization, audience, and so on...I am amazed by the quality of the content in every single editions. I always find myself coming out of each reading with actionable tips and strategies to be applied to what I am doing.Arvid also gives no excuse for you to not follow along even if you're not a reader. 🤓Each edition has its podcast episode which allows Arvid to answer questions from his readers and followers.

A few quotes 🤓

The perfect business doesn’t exist. Any business is a dynamic enterprise, a thing that you do, not a thing you have. Nothing in your business will ever be perfect, as there is always room for improvement.

I consider myself a bit of a perfectionist and it has been a challenge to ship something I am not 100% proud of. But you got to do it... We'll never attain perfection but shipping and getting feedback to iterate on our product is the only strategy to discover if you have a solution for your audience. 🤓

Full post here 💡

On average, a 5% increase in customer retention leads to a 25%-95% increase in profits. So keeping customers retained sounds like a great way to keep your business on the right track. If it can impact revenue so significantly, it is definitely worth your time to build a company that focusses on customer retention.

Isn't it exciting when you close that new shiny client ? Truth is... Take care of the ones that are already paying for your product.

Full post here 💡

Significantly underpricing your product will create a few problems down the road. While it will likely get you a lot of customers initially, many of them will be very price-sensitive. In general, bottom-of-the-barrel customers are hard to deal with, as they will want to squeeze the most value out of your customer support and your product for the lowest price.

They either squeeze out as much value as possible or don't use your product. Handing free subscription can be enticing to get your first users thru the door but they are no financial commitment on their side to use your product. This leads to poor to no feedback and a bad experience for you and the user.

Full post here 💡

You can find all the previous newsletter here in blog format. Awesome, right? 🤯

Anything else?

The Bootstrapped Founder blog & newsletter is not the only thing Arvid has been doing, ohhh noo... He is also sharing all his knowledge in his podcast and his book ZERO to SOLD: The Bootstrapper’s Compendium