Pieter Levels’ framework for launching projects : Entrepreneur

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Pieter Levels went from being an almost-broke college graduate to making over $25,000 a month with the startup Nomad List.He has a specific framework that he uses when launching projects, which has helped him with Nomad List and other projects like Remote OK and Hoodmaps.It consists of 7 phases: Idea -> Build -> Launch -> Grow -> Monetize -> Automate -> ExitThe framework starts with the idea. The idea should ideally come from a problem in your own life. With Nomad List, Pieter wanted to know which new cities to go to. Becoming less homogenous and doing more crazy shit also helps so that you don’t have the same ideas as everyone else. And starting with a small, niche idea helps you in getting initial traction.Then you should start building. You should build it yourself, something that’s easier than ever nowadays with no-code tools, and you shouldn’t spend more than one month doing your MVP. Pieter basically learned how to code on the fly when building Nomad List.Then it’s time to launch. Launch on Product Hunt, Hacker News, Reddit, niche forums, whatever. Just get your product out there. And remember that launching is not a one-and-done-deal. Keep launching over and over, for every new feature, so people remember your product. Case in point, Nomad List has launched 5 times on Product Hunt.Then you move to growing your product and getting feedback. You should optimize for organic growth. Ask for feedback with tools like Intercom, or even just a simple feedback form. And collect email addresses so you can reengage your visitors later.Then move to monetizing. Test out what people are willing to pay for by paywalling certain features. Try getting sponsorships or starting a Patreon. Recurring revenue is the best, but any kind of revenue in the beginning is beneficial.Then automate the product. You can use cron jobs, which is what Pieter uses to retrieve a lot of the information on Nomad List. Try to automate as much as you can so you don’t have to do so much manual work. The product can eventually become a source of (relatively) passive income.And finally, the exit. You eventually sell your business for a good multiplier on the revenue, based on the growth rate.That’s the whole cycle of project development as Pieter sees it. I’m not Pieter, but I really love his story and think this is a useful framework so I wanted to share it here with you all.This post was adapted from Pieter Levels’ talk.Thanks for reading!

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