How This Guy Bootstrapped A $6M ARR AI App
Josh Mohrer discusses the journey of developing the Wave app, sharing insights into its early development and the challenges faced, including combating copycats and acquiring users. He emphasizes the importance of overcoming skepticism with a strong work ethic and maintaining a work-life balance. The conversation delves into growth tactics, user acquisition costs, and leveraging Apple search ads. Josh offers entrepreneurial advice, highlighting the importance of speed in execution, idea selection, and key traits for entrepreneurs. He shares controversial opinions on business valuations, discusses stealth recording, and provides personal advice on patience. The episode concludes with lifestyle rules and a mention of the sponsor, Wave.co.
Key Points
- Josh Mohrer built Wave, an AI recording app, from scratch without prior coding experience, achieving $6 million in annual recurring revenue by focusing on user needs and iterative improvements.
- Effective user acquisition strategies, including leveraging Apple Search Ads and targeted marketing on Meta, significantly contributed to Wave's rapid growth and user base expansion.
- Relentlessness and the ability to act swiftly and decisively were emphasized as crucial traits for entrepreneurial success, alongside a willingness to engage directly with users and adapt based on their feedback.
Shamus Madan: 📩 Join The Dealroom: https://dealroompodcast.com/subscribe 🐦 Follow the host: https://x.com/shamusmadan
Josh Mohrer 📱Check out Wave: https://wave.co/ 🐦 Follow the guest: https://x.com/joshmohrer
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Transcript
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