Awesome podcast w/ Fintwit’s homegrown financial analysis platform ⁦ @KoyfinCharts⁩. Talking through freemium model, maximizing value for users, & the specific thought put into reducing friction & the UI. Inside look into a great founder in fintech https://podcasts.apple.com/us/podcast/fintech-impact/id1359909626?i=1000478164911
Rob talks through specific tradeoffs he makes between adding more features for technical analysis vs company analysis. Product and design trade offs are always hard decisions to make as you won’t satisfy all users. Always great to learn from founders on how they think through
Successful product and company building is all about finding your insertion point, thoughtfully creating additional value for users from there and then testing distribution channels to find the most leverageable channels forward.
Domain expertise is helpful in finding that insertion point and finding the right balance in UI/friction. Then requires a outside view/chip on shoulder to iterate on product to give users what they want when sometimes they don’t even know. Distribution is the hardest part
What @KoyfinCharts shows is long tail of distribution on $TWTR & building an authentic passionate user base! Koyfin has grown users through word of mouth & then leveraged this into new channels like the first paid sponsorship on Invest Like the Best...which came through twitter
There’s so much to learn in real time about how bottoms up models work. It takes a long time to build great product and community. You need to let it bake for awhile before moving towards monetization. But that community then enables new distribution channels & more success
It’s a flywheel that keeps spinning but comes first & always from maintaining an engaged community & serving the long tail of users starving for a great product experience. Thanks for sharing your story @KoyfinCharts and giving us all a real time case study on product led growth!
Btw for more on product led growth the folks @OpenViewVenture have some of the best resources out there so highly encourage going there to read more and view content, one of the most exciting trends in SaaS of the past decade with a confluence of trends enabling this model now
You can follow @MinionCapital.
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