Who are these Indiehackers?
In the business domain, there are all kinds of people. While some have built an empire out of their ventures, others are still in the process. On similar lines, while some entrepreneurs are having enough funds and dollars to invest in anything. Others are still in the operational stage.
Ever heard of how Indiehackers make money? Or even before that, what do you understand by this term? Funnily enough, some of you may feel it’s about some hackers from India. However, that’s an absolutely misleading understanding of the nomenclature.
Now the term’s usage has entirely changed. Indiehackers are those entrepreneurs who are working independently, without any external funding, or through investors. This means that they just produce any product/service, sell it, and make money. They are not bound to any employee or investor to return the money.
- Stay independent
This may look like a piece of weird advice, but it needs to be a pioneering one! Indiehackers should try and stay independent. Be it in terms of the means through which they are making money or the product they are working on. Why that should be done? The reason is simple: To avoid Subjugation and complications while working. Whenever you are under someone, you are bound to stick to their dictates and rules. This may hinder innovation on your part. So try to make money independently through channels like developing an app, creating a product, etc. Don’t seek investment from others at all.
- Make something you are good at
“Indie Hackers who decided their product ideas by scratching their own itch probably don’t face this issue that much as they end up working on a problem they themselves faced. If you decide product ideas like you did, then it’s more likely that the thing you end up working on isn’t as motivating to spend time on.”
This was one piece of advice that was shared by an Indiehacker on the platform. This clearly depicts that if developers are willing to device any application or product, they need to do something they are good at. Or make something which they felt wasn’t there before. When you do so, there is a high probability that your product will be liked by a lot of people and you will raise sufficient money.
- Use penny stocks
Funding and money is something that Indiehackers always face a problem to cope up with. They can’t ask someone to give them money. This is because that would cease them from being Indiehackers. Another reason is that: The borrowed money will become an additional burden to deal with.
“Taking money needed for another part of your business in order to multiply your holdings isn’t smart. If the investment turns sour, you’ve lost money on both the investment and your business, which will make it difficult to recover, particularly if cash flow is low.”
Here’s where the penny stock will come into use! Penny stock is basically a common stock sold for less than a dollar on the market. It’s a highly volatile investment. However, it can be worth it as it makes a great place to start for new investors.
- Invest more in design and other services
If you are working on developing an online app, you wouldn’t need much money at all. It would only require your skills and expertise, good pitching, and obviously a few design services. So it’s advisable that Indiehackers develop products that are feasible and at low cost. Money crunch won’t be an impediment at all in doing so.
Also, it’s statistically proven that apps with catchy slogans and designs attract more people to use them. So investing a little bit in designing isn’t bad at all. There are many sites that provide unlimited graphic designing services. So hire them and get going!
And the last bit of advice for any independent entrepreneur would be to join communities that are involved in giving advice. The very first community for the same would be Indiehackers.com as it contains many people from independent backgrounds who are now running successful businesses. Try and get in touch with them through the common platform. Ask them what they did to expand their business and become rich. You can ape them, learn ways to improve, and try to maximize your reach too.
Altogether, Indiehackers have a lot of resources to know more about business expansion. They can use the above tips to successfully go ahead with their ventures.