Hey PMMs,
Here’s a skill to build in 2024.
Learn how to make money đź’°
Am I telling you to launch your own business or product?
No. Unless you want to.
I moreso mean get interested in how other small companies and entrepreneurs launch and sell products. Especially outside of B2B SaaS. Even better if they’re bootstrapped.
Jason Fried was on Lenny’s podcast this month and talked about the benefits of bootstrapping.
The general idea is this.
Many of you reading this (me included) came up in our careers working in VC-backed companies with lots of cash.
We never really had the pressure of making money.
We learned how to spend it, but not make it.
Product launches and individual campaigns were, no doubt, important.
But a flopped launch or mediocre work never broke the business.
So we could rest on vanity metrics.
Not today.
That’s why I think we can learn so much from following the other 99% of businesses.
Bootstapped startups (or even seed stage where they still need to be scrappy)
Ecommerce brands
Solo entrepreneurs
Companies where launches need to go well, or they don’t survive.
Where they need to build an audience vs buy one.
And get creative to break through the noise.
That’s why many of my favourite examples from PMM Files this year have been from small businesses and entrepreneurs.
And I’m committing to covering more in 2024. Stay tuned!