#20 Weekly Dan — Digging MRR

Metaphor for Indie Entrerpeneurs

Hello there

This is the #20 Issue of Weekly Dan.

Ready to become a better Maker?

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Every Tuesday, I share an actionable essay for Indie Entrepreneurs.

Today let’s talk about your product portfolio.

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Golden Valley

I have a metaphor for you.

Imagine a vast valley that is filled with people. They all are searching for gold.

Everyone has a shovel to dig and (hopefully) find gold.

New hole - new product launch.

Got it? Now let’s make a few conclusions from this mental experiment.

Conclusions

• There are two strategies to follow

  • Dig as many holes as possible, so at least one of them has gold (“Small bets” approach)

  • Analyze the valley, pick one spot to dig, and focus on it no matter what (works if you have niche expertise)

• You can find gold only if you pick the right spot (niche) and dig well enough (implementation). Both factors matter

• If many people dig in one place, you should pay attention to it. Maybe they know something you don’t

• If you have found some signs of gold, you should focus 100% on this hole. It would be weird to switch between the holes when you got the clear winner

• People will find new “promising” spots. But there is a 0% chance of finding gold if you only dig once and switch to the new spot

• Buying spot domains doesn’t make you a better digger

• Buying hundreds of shovels doesn’t make you a better digger

• People who chase gold lose to people who enjoy digging

Are you a great digger?

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That’s it!

What do you think about today’s issue? Hit me with a reply.

And see you on Friday with the usual 5 golden nuggets for Indie Makers.

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