Alt Update - 21st August 2023
A snapshot of leaderboard, mentorship platform and more!
Hey there,
We have tinkered with the format of the update.
You will now see trends and growth rates for the north star metric (nsm) for each idea.
All ideas are sorted based on the weekly growth rate.
Pre-revenue ideas are judged based on the number of demos/prospective users spoken to.
The snapshot of the leaderboard will be followed by a quick context on what resulted in the change.
The story behind the numbers
Creato: Community monetization platform for creators (latest demo)
82 creators signed up and 6 have monetized so far.
$226 gmv from 40 transactions.
Word of mouth resulted in most of the signups. We have also started aggressive outreach to two personas, fitness pros, and professional consultants.
altFind: AI-powered recruitment platform
Speaking to recruiters at top orgs like Amazon and Zendesk to build the ‘Find method’. We are not onboarding companies on the software but transforming the way they hire world-class talent.
5 product demos last week. Targeting 10+ this week. (via personal network and LinkedIn outreach)
The first company has agreed to pay. Onboarding this week.
altSprints: Digital transformation for enterprises
In the last 5 months, $120K is the total booked revenue from 7 companies and 35% of this revenue is delivered/earned.
A strong focus on delivering quality to existing customers. We believe real growth will come from referrals.
A longer cash flow cycle is the biggest pain when it comes to working with big companies.
AI experiments
We will only focus on one experiment at a time. Currently → tbh: the anonymous voice messaging app.
The goal is to learn by shipping a simple use case in the market. We shipped a barebone version 10 days ago and reached 1500+ signups and 4K+ messages.
All growth came from sharing this Imran Khan video on TikTok.
The next experiment
We’re launching a mentorship platform as a growth experiment for altFind and Creato. It connects founders, operators, and tech pros working in top local and international companies with young builders and students.
Check out the prototype for more context:
If you or someone in your network is interested in becoming a mentor, please get in touch with me.
Help us spread the word
We want our update to reach everyone building or investing in the ecosystem. Please share this link with relevant people in your network.
You will hear from me again in a few weeks.
Thanks,
Muhammad.