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Indie Hackers

#140 – Vital Learnings from Bootstrapping and Selling a $55k a Month Business with Arvid Kahl of FeedbackPanda

Indie Hackers

Courtland Allen and Channing Allen

Startups, Entrepreneurship, Makers, Indie, Bootstrapping, Online, Technology, Business, Founders, Bootstrappers, Ideas, Tech, Indiehackers, Hackers

4.9 β€’ 606 Ratings

πŸ—“οΈ 16 December 2019

⏱️ 73 minutes

🧾️ Download transcript

Summary

In the span of two years, Arvid Kahl (@arvidkahl) and his partner Danielle Simpson (@SimpsonDaniK) went from new idea, to $55k a month in revenue, to selling their business, all without hiring a single employee. In this episode Arvid and I discuss the ideal market size for indie hackers to target, the importance of building with a specific audience in mind, and the vital learnings from Arvid's past businesses that contributed to his recent success.Transcript, speaker information, and more: https://www.indiehackers.com/podcast/140-arvid-kahl-of-feedbackpanda

Transcript

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0:00.0

What's up, everybody? This is Cortland from NDHackers.com, and you're listening to the

0:11.7

IndieHackers podcast. On this show, I talked to the founders of profitable internet businesses,

0:16.1

and I try to get a sense of what it's like to be in their shoes. How do they get to where they are today?

0:20.2

How do they make decisions, both of their companies and in their personal lives, and what exactly makes their businesses tick? And the goal here, as always, is so that the rest of us can learn from their examples and go on to build our own successful internet businesses. Today, I'm talking to Arvid Call. Arvid, welcome to the show. Hey, thanks for having me.

0:41.4

You and your girlfriend, Danielle, are the founders of a company called Feedback Panda,

0:45.1

and you recently posted a pretty exciting milestone about it on Indie Hackers.

0:47.7

I think you called the Post, We Sold Our SaaS.

0:52.4

And you explained that it took you two years to grow Feedback Panda from just an idea into a fully fledged business making $55,000 a month

0:56.4

in revenue with just the two of you at which point you sold it. So first of all, congratulations.

1:01.3

That's great to hear. Yeah, thanks so much. That's been quite amazing. You posted this milestone

1:06.4

a month ago now. Obviously, you were super excited at the time. How are you feeling now?

1:27.9

Oh, I'm still super excited. Like, this is a thing that's going to last us forever because it's just the accomplishment alone is, it's wonderful. And the doors, this kind of stuff opens, the kind of people you get to talk to after this and the kind of new avenues you can go to. It's just, it's just great. Well, you have one of those businesses that I think would be tough to sell. I mean, it's just two of you, you and Danielle,

1:32.0

you bootstrapped the company, so you both owned together 100% of the company. You grew super

1:37.5

rapidly to $55,000 a month in revenue in just two years. How do you decide to sell a company like

1:42.9

that? Actually, it took us by surprise. We really never wanted to sell the company, but we build it

1:49.6

with it being sellable in mind. I've been reading a lot prior to building this particular

1:56.4

company, because there was a time when I was not a founder, when I was actually employed at a company

2:02.2

in Hamburg in Germany while living in Berlin, which is like two and a half hours away,

2:06.9

by train. So I was commuting three days a week from Berlin to Hamburg and back, which is like

2:11.2

five hours a day and 15 hours a week that you sit in this metal box, right? And you just zoom

2:17.1

through to Germany and if

2:19.4

there's one thing about Germany is that the connectivity between cities is really bad so

...

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