I'm the co-founder of Transistor.fm (podcast hosting and analytics). I write about SaaS marketing, bootstrapping startups, pursuing a good life, building calm companies, business ethics, and creating a better society,.
This pro skater dated Paris Hilton, went broke... Now he's a bootstrapper
|
In 1999 I met pro skater Chad Muska at Slam City Jam in Vancouver. At the time, he was at the top of the skateboarding world. His pro model was selling 10,000 units a month, and he was one of the first playable characters in Tony Hawk's Pro Skater game. But then, all the money and fame ran out. "Right around the beginning of the pandemic," Chad says, "everything ended in skateboarding for me as far as finances go. My last check came in, and it was done." What's interesting to me, as a bootstrapper, is what Chad Muska is doing now. He's building the Muska brand as an independent company and bootstrapping it just like you or I would. "I'm becoming a businessman for the first time. I've always been a skater. I've always been a creator. I've always been part of the marketing assets, but I've never been a businessman. I've always allowed others to do the business." – Chad Muska on the Nine Club podcast. Currently, Chad is building his brand, Muska Industries, where he produces limited-run runs of skateboard decks (which he signs), clothing, footwear, and accessories. He leverages his Instagram to connect with his fans and announces product drops, which he sells on Shopify. He's learning a lesson that Nathan Barry (founder of ConvertKit) has been talking about for a while: "Creators need equity. Having real ownership in a successful company is the best way to build wealth." When you compare the riders featured in the first Tony Hawk Pro Skater game, you can see how important it is to have equity:
Most folks who've had a significant stake in some asset have thrived, while the pro skaters who mostly took sponsorship checks seem to be struggling. Have you ever had to start over again?It must have been crushing for Chad to be so well-known (and earning good money) only to be dropped by the skateboard industry. But he's not starting from nothing. He might not have much money right now, but he does have fans. "People are thanking me for the reissues I've put out. They've made it possible. My past is funding my future. Skateboarding gave me this opportunity." If we look, most of us have some built-in advantages that we've built up over time. When you start a business, you need to use every strength, advantage, insight, and resource you have. Being a successful founder often means stacking every advantage you can:
This is probably why most entrepreneurs become successful in their 40s: they've accumulated decades of experience that they can deploy in their ventures. "More seasoned entrepreneurs may draw on greater experience in management or deeper industry-specific knowledge. They may also have greater financial resources and more relevant social networks to leverage the founder’s business idea." (Source) Chad is 47 years old. He's accrued connections with artists, influencers, popular podcasters, manufacturers, and other pro skaters that he can now leverage in his new company. What's he doing right?Chad is leveraging two powerful forms of marketing for solopreneurs:
As I write this, Muska is signing a limited-run series of boards live on his Instagram. He produces almost everything from a farmhouse he bought in Ohio. His shelving, studio, storage, and computer are all in his living room. I know "build in public" is getting a bad rap these days, but I think it can be much more than sharing your MRR numbers on Twitter. Sharing your entrepreneurial journey can attract customers and fans who want to support you in your adventure. When done well, they'll cheer you on, advocate for you, and spread the word. I made a mini-documentaryI made a mini-documentary about Chad's life (and his new business), and I would love for you to watch it on YouTube: (I'm an old guy trying to figure out YouTube. It would mean a lot to me if you could watch it and leave a comment!) Cheers, PS: are you building a web app / SaaS with Laravel? If so, I'd love to know about it. Reply to this email and tell me what you're up to.
This newsletter is brought to you by: ⚡ MegaMaker ⚡ |
Justin Jackson's SaaS marketing experiments
I'm the co-founder of Transistor.fm (podcast hosting and analytics). I write about SaaS marketing, bootstrapping startups, pursuing a good life, building calm companies, business ethics, and creating a better society,.
I didn't expect the last newsletter to generate so much debate! It ended up getting posted to Hacker News. Aaron and Ian talked about it on Mostly Technical, and many other folks responded in comments and emails. Some folks felt the tone was too pessimistic/defeatist. Others felt like I was discouraging older founders from starting companies. (I also had quite a few folks who responded and resonated with the spirit of the post). I recorded a response to all this feedback here: A few...
I recently listened to three podcast episodes, all with bootstrapped founders over the age of 40: Paul Jarvis has retired from Fathom Analytics Matt Wensing steps down from Summit, takes job with Customer.io Brian Casel and Jordan Gal talk about building SaaS at this stage of life It's interesting to see how differently this stage of life is compared to our 20s and 30s. (I'm 44). An Evolving Definition of Success: "I've been at Summit for 5 years. My last company took 15 years, and I didn't...
Every day in Transistor's #marketing channel in Slack, we track our new trial signups: Like most SaaS companies, our growth relies on new people finding us every day. Whenever I see these numbers, I ask myself: "Where are these signups coming from?" There's this idea in marketing that we'll be able to find a magical channel that brings in thousands of customers. But, when I look at where these signups come from, there's never one dominant source. Here's what we saw in August: Search (40%):...