Solving Other People's Itches Drives StageTimer.io's Wealth Ambition - Episode Hero Image

Solving Other People's Itches Drives StageTimer.io's Wealth Ambition

Original Title: #283 – Making $8k/mo Targeting $100M/yr with Lukas and Liz Hermann of StageTimer.io

TL;DR

  • Ambition for extreme wealth, exemplified by a multi-mountain goal chart, drives Lukas and Liz Hermann to build StageTimer.io, aiming for $100M/year revenue and future ventures beyond initial success.
  • Solving "other people's itches" proved more lucrative than "scratching your own," as evidenced by StageTimer.io generating more revenue than Lukas's prior software engineering salary.
  • Leveraging niche industries with low competition, like event organizing, allows for rapid SEO gains and high-intent customer acquisition, as StageTimer.io achieved #1 Google ranking.
  • Early adopters and word-of-mouth marketing, amplified by content creators in the event production space, became StageTimer.io's primary growth engines, fostering organic adoption.
  • Strategic community engagement, particularly on Reddit, disarmed potential users by soliciting advice rather than advertising, leading to initial user feedback and paid customers.
  • The Hermanns' complementary skills and long-standing collaborative history, forged through volunteering and prior projects, enabled their successful partnership in building StageTimer.io.
  • Continuous experimentation and a "gameful design" approach to entrepreneurship, including side projects and exploring new markets, fuels their drive and business expansion.

Deep Dive

Lukas and Liz Hermann have built StageTimer.io into a profitable business by identifying and solving a specific problem in the event industry, demonstrating that even seemingly simple tools can achieve significant financial success when targeted effectively. Their journey highlights the power of "scratching other people's itches" and a long-term, ambitious vision, aiming not just for a comfortable living but for substantial wealth and impact through future ventures.

The core of their success lies in identifying a niche problem -- the need for a remotely controllable timer for event speakers. This pragmatic approach, born from observing a friend's inconvenience, diverges from the common advice to solve one's own problems, proving that understanding an external audience's needs can be more lucrative. StageTimer.io, a straightforward browser-based application, offers a dashboard for organizers and a view for speakers, controlling timing, messages, and more, at a price point that generates substantial recurring revenue, exceeding Lukas's previous software engineering salary. This demonstrates a key implication: that perceived simplicity of a product does not correlate with its revenue potential if it effectively addresses a specific, unmet need in a market underserved by complex or non-existent solutions.

Their growth strategy emphasizes a deliberate, community-driven approach. Initial traction was gained through strategic engagement on Reddit, specifically by seeking advice rather than outright advertising, which fostered early users and feedback. This approach is crucial because it disarms potential skepticism and builds genuine connection, turning users into educators and advocates. This organic growth, amplified by the tight-knit nature of the event industry and the prevalence of content creators (many of whom are YouTubers), led to organic word-of-mouth marketing and user-generated content. The implication here is that building trust and providing value first, even in a seemingly saturated tech landscape, can unlock powerful, low-cost acquisition channels. Furthermore, their focus on SEO, particularly through technical documentation like "how to use a countdown timer with OBS," illustrates a sophisticated understanding of their target audience's technical needs, driving high-intent traffic that converts effectively. This highlights a second-order effect: understanding the technical ecosystem of their users is as critical as the core product itself for driving conversions.

Beyond StageTimer.io, the Hermanns embody a mindset of continuous ambition and learning. Lukas's detailed Twitter thread outlines a multi-stage plan for wealth accumulation, starting with bootstrapping, moving to scaling a business to $10 million in revenue, and culminating in moonshot ventures like a third-world food printer or atmospheric carbon scrubber. This ambition, coupled with a disciplined approach to learning business principles, managing finances, and exploring new markets, suggests that their current success is a stepping stone rather than an endpoint. Their approach to side projects, such as Liz's successful D2C Instagram growth without showing her face, demonstrates a commitment to testing hypotheses and mastering new domains, reinforcing the idea that entrepreneurial success is a continuous process of experimentation and skill acquisition. The ultimate takeaway is that sustained entrepreneurial achievement stems from a combination of identifying underserved markets, executing with a clear long-term vision, and cultivating a relentless curiosity to learn and adapt.

Action Items

  • Build Stage Timer enterprise plan: Define features and legal requirements for team-based subscriptions to increase average revenue per customer.
  • Audit Stage Timer marketing channels: Analyze conversion rates from Reddit, SEO, and word-of-mouth to identify highest-impact growth strategies.
  • Create documentation for 3 advanced Stage Timer use cases (e.g., OBS integration, multi-timer coordination) to attract technically-minded users.
  • Track Stage Timer churn rate and new customer acquisition for 6 months to predict revenue plateau and inform enterprise plan development.
  • Develop 2-3 side project prototypes based on observed industry problems or "low-hanging fruit" opportunities within 3 months.

Key Quotes

"I think that detail of like it looks really simple on the from the surface i've been seeing that everywhere lately like i we posted a couple of stories of people that are building ai companies and every single comment section has one or two people going wait a minute this is just two api calls that's it yeah it's like next level"

The speaker highlights a recurring observation: many seemingly complex products, particularly in the AI space, are built upon relatively simple core components. This suggests that perceived complexity does not always equate to intricate underlying technology, and that innovation can arise from straightforward applications of existing tools.


"I'm going to get rich and this is how I'm going to do it he's not he's not like oh i'm you know i hope to make some money he's like no i'm going to get like insanely wealthy and like I am he's like babe ruth pointing to the outfield exactly where he's going to hit the ball"

This quote illustrates a mindset of extreme ambition and clear goal-setting. The speaker contrasts this proactive, almost predetermined approach to wealth accumulation with a more passive hope for financial success. The Babe Ruth analogy emphasizes a confident, strategic vision for achieving significant financial goals.


"So let's say I'm running a conference or an event where I've got speakers I want my speakers to all know like pretty simple how much time do they have left in their talk is it 10 minutes is it 30 minutes and I wanted to be like on some sort of laptop or screen or an ipad that they can see while they're talking so they don't go over time but I want to also be able to control that pretty much everything about that timer from like the comfort of my seat"

The speaker describes the core functionality of StageTimer.io, a tool designed to help event organizers manage speaker timing. This quote clearly articulates the problem the app solves: providing speakers with real-time awareness of their remaining time and giving organizers remote control over the timer, all from a convenient location.


"Many people say on twitter like scratch your own itch do you know build a business that that you that you yourself like and I looked around like I want to scratch somebody else's itch you know I see this guy like can can I build something that that is a solution for him"

This quote presents a contrarian approach to the common advice of "scratching your own itch" when starting a business. The speaker, Lukas, explains that his motivation came from observing a problem someone else was experiencing and identifying an opportunity to build a solution for them, rather than for himself.


"What's interesting is you did the you did something that's the opposite of what Paul Graham said just a couple of days ago he tweeted when young founders build something that they don't want themselves but that they believe some group of other people want 90 of the time they're building something that nobody wants"

The speaker points out that Lukas and Liz's approach to building StageTimer.io, by solving someone else's problem rather than their own, appears to contradict Paul Graham's well-known advice. This highlights a potential tension between established startup wisdom and the successful strategies employed by some founders.


"The funny thing here is we are big fans of my first million and then one day out of the blue Sam started following and I'm a big Sam fan and he is a big Sean fan and then I was like oh Sam follows me and I even tweeted oh I think it was by mistake but and then he answers Sam answered said no no I like what you're doing and that's why I followed you"

This quote details a serendipitous interaction with a prominent figure in the indie hacker community. The speaker, Lukas, recounts how being followed by Sam Parr of "My First Million" led to a validating exchange, suggesting that even unexpected connections can be significant in building a public profile and network.


"I want to shed a bit of a different light on this on this Graham tweet he's right right but I feel like in our tech bubble everybody knows about these tech things like all the tech problems have been solved with open source code and in five times already but then you look at other industries especially old industries metal manufacturing and this case like event organizing and media recording there's so much low hanging fruit that you as a as a developer coming from a like startup you look at it it's like I would automate this I would change this I would make this better"

Liz offers a nuanced perspective on Paul Graham's advice, suggesting that while it holds true within the tech industry, many other sectors are ripe for innovation. She argues that developers entering older industries can find numerous opportunities to improve processes and build solutions that are readily apparent to them but overlooked by those within those industries.


"I think the most stereotypical advice is like don't you know get into business with your friends and your family we're all four of us are doing like literally the exact opposite you two seem pretty happy you're both smiling you're like mutually complimentary you haven't killed each other yet how's it how's it going"

This quote addresses the common cautionary advice against partnering with friends or family in business. The speaker notes that the couple being interviewed, along with the podcast hosts, are examples of successful collaborations within personal relationships, suggesting that this advice is not universally applicable and can be overcome with the right dynamics.

Resources

External Resources

Books

  • "The Murdoch Method" - Mentioned as a biography of Rupert Murdoch, highlighting his approach to building a media empire and his competitive nature.
  • "Leonardo da Vinci" by Walter Isaacson - Mentioned as a biography that illustrates Da Vinci's intense curiosity and his drive to understand subjects by direct observation rather than relying on secondary sources.

Articles & Papers

  • "Advice for Presentation Timer App in the Making" (Reddit post) - Mentioned as an example of a successful, disarming launch strategy on Reddit, seeking feedback rather than direct advertising.
  • "Stage Timer" (Reddit post) - Mentioned as a follow-up post six months later, announcing the paid version of the app after incorporating user feedback.

People

  • Lukas Hermann - Co-founder of StageTimer.io, discussed for his entrepreneurial journey, ambition, and approach to building businesses.
  • Liz Hermann - Co-founder of StageTimer.io, discussed for her entrepreneurial journey, ambition, and approach to building businesses.
  • Paul Graham - Mentioned for his tweet about founders building things they don't want themselves.
  • Elon Musk - Mentioned for his response to Paul Graham's tweet and for his view on entrepreneurship requiring intrinsic motivation.
  • Sean Perry - Mentioned from "My First Million" podcast, characterized as focusing on "big boy stuff."
  • Sam - Mentioned from "My First Million" podcast, noted for following Lukas Hermann on Twitter.
  • Channing Allen - Mentioned from "My First Million" podcast.
  • Cortland Allen - Mentioned as a friend of the pod and friend of the hosts, former founder of Coderpad.
  • Natalie - Mentioned as Cortland Allen's girlfriend, whom he taught to code.
  • Rupert Murdoch - Mentioned for his competitive nature, curiosity, and approach to building a media empire.
  • Edison - Mentioned as an inventor who loved inventing and spent most of his time in his workshop.
  • Leonardo da Vinci - Mentioned for his intense curiosity and drive to understand subjects through direct observation.

Organizations & Institutions

  • StageTimer.io - Discussed as a simple, bootstrapped tool making $8k/month (and growing) for managing speaker timing at events.
  • Indie Hackers - Mentioned as the podcast where Lukas and Liz Hermann were interviewed.
  • OpenAI - Mentioned as the provider of the AI technology behind a bot that sends reviews of submissions.
  • My First Million - Mentioned as a podcast that discusses "big boy stuff" and where Lukas Hermann was invited to be interviewed.
  • NFL (National Football League) - Mentioned in the context of Lukas Hermann's previous software engineering job.
  • SpaceX - Mentioned as an example of a moonshot company.
  • PFF (Pro Football Focus) - Mentioned in the context of Lukas Hermann's previous job.
  • New England Patriots - Mentioned in the context of Lukas Hermann's previous job.
  • Reddit - Discussed as a platform for launching and gathering feedback for new products.
  • r/commercialav - A specific subreddit mentioned for launching the StageTimer.io app.
  • Ahrefs - Mentioned as a tool for keyword research in SEO.
  • Obs - Mentioned in the context of technical documentation for StageTimer.io.
  • Nike - Used as an analogy for StageTimer.io becoming a recognized brand in its industry.
  • Wall Street Journal - Mentioned as a publication Rupert Murdoch stalked for years.
  • New York Post - Mentioned as a publication Rupert Murdoch wanted to acquire.
  • New York Times - Mentioned in comparison to the New York Post.

Tools & Software

  • GPT-4 - Mentioned as a tool that can be used for brainstorming but is not ideal for creative writing or humor.
  • StageTimer.io - Discussed as a tool for managing speaker timing at events, offering remote control and messaging features.

Websites & Online Resources

  • Twitter - Discussed as a platform for sharing entrepreneurial journeys and for Lukas and Liz Hermann's presence.
  • StageTimer.io website - The platform where users create and manage timers.

Other Resources

  • AI (Artificial Intelligence) - Mentioned as a technology that enables the creation of simple, powerful tools.
  • Disney Story Spine (Pixar Story) - Mentioned as a narrative structure used to craft a tweet.
  • SEO (Search Engine Optimization) - Discussed as a growth channel for StageTimer.io, particularly through technical logs and documentation.
  • DTC (Direct-to-Consumer) Instagram account - Mentioned as a side project where Liz Hermann grew an account from zero to 6,000 followers in six months.
  • Monopoly - Used as an analogy for business, emphasizing learning the rules and strategies.
  • Pareto Principle (80/20 rule) - Mentioned as a principle for efficiency and return on investment.
  • Gameful Design - Described as a way to make entrepreneurial work feel like a game by finding new things to learn and master.

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