#2 - How many rabbits does it take to validate an idea?

Hello Reader,

It has been quiet.

I haven't written one of these in a while... Mostly because I've been busy with life things. But I plan to keep things steady this time.

I've decided to change the format of the newsletter. I'm changing it to a list of tech-business-related things that I find interesting every week or 2 weeks.

I'm still experimenting with the newsletter format so let me know what you think of today's episode. I'll keep changing things until we find something that works for both of us.

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📊 Chart of the week

My graph of the week is from Bhanu the creator of Feather.so. Feather is a tool that helps you convert your Notion to a blog. This makes so much sense because quite many people use Notion to write already so it seems like a logical step.

Bhanu tweeted this graph to show his revenue and say that he plans to sell the platform by the end of this year.

I like this graph because it shows how projects can go sometimes. From Jun '21 to April '22, revenue is small and flat. There's some improvement in May 2022 but the real jump doesn't happen till over a year later in Jan 2023.

I'd like to know what he changed that month.

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🎞️ Video of the week: The Rabbit R1 launch

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Be warned. It's a long video (over 25 minutes) so you may want to take a seat.

My video of the week is the launch of R1 by Rabbit.

The R1 is a handheld assistant that carries out tasks through voice commands. It can help you plan a holiday and book flights, it can help you identify paintings and even order food for you.

It's part of a new category of AI-first devices released in the past 2 years. This includes devices like the Humane Pin, the Meta glasses and others.

A day after it launched, batch 1 of the R1 sold out. They sold 10,000 devices in 1 day!

While the R1 is interesting, I'm more interested in the opportunities it presents. If it's a new category of personal devices like smartphones then maybe there's going to be an app store of some sort. The first few people/businesses to build apps for this 'store' stand to make a lot of money.

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💡 Business of the week

My business/idea of the week is productized services.

Simply put, a productised service business offers customers a subscription plan that gives them access to one specific service such as graphic design or web design. So you create a list of services that customers can get access to every month at a fee.

A popular example of a productized service is DesignJoy which makes over $1M annually with no employees.

Productized services make good businesses because they offer simplicity and predictability if done well. They can also be very profitable because they become predictable over time. You know what your costs are and what your expected revenue is.

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🔦 Builder Spotlight

My Builder of the Week is Thibault Louis-Lucas (popularly known as Tibo). Tibo bootstrapped Tweethunter and Tapilo to $3.5M in revenue before selling both platforms in 2022.

The most interesting part about Tibo's journey is that he and his co-founder spent the early 2021 building a new project every week until one of them (Tweet Hunter) took off. He says they did this because they wanted to test out ideas quickly and see what worked.

You can learn more about Tibo's journey here​

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Best regards,

Eko

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