Side projects are like potato chips.

You can't just have one.

(even though you know having just one would be better for you.)

In fact, it's the opposite: it's like every idea unlocks 10 new ones. They are Antifragile.

You try to stave off the appetite for a little while by buying domains for your ideas, but it doesn't last.

Soon enough, you find yourself cheating on your side project with another side project, and before long you will learn it's: Mo' Products, Mo' Problems, and that you really need to work on your juggling skills.

It doesn't have to be like that though.

Managing multiple side projects doesn't have to be a pain.

In fact, we promote exploring more than one idea early on, to build a better product later on, as discussed in The Launch Funnel.

The key is to be strategic about it.

In this article we introduce a framework that doesn't just help you manage multiple projects like a pro, it also makes having more products better than having fewer.

That framework is The NoCode Value Ladder.

The Problem

But first, let's take a step back and look at the common mistakes people make when pursuing multiple ideas:

Mistake 1: Every idea is a Moonshot.

Mistake 2: Every idea targets a different Audience, Problem, and Solution.

Mistake 3: Neglecting old projects, in favour of new ones.

Let's unpack them one by one.

Mistake 1: Every Idea is a Moonshot

Social Media bombards us with Silicon Valley success stories, fuelled by billions of venture capital, paying trillions of dollars in exits.

Not surprisingly our model for startup success mimics that of Palo Alto's nouveau riche: You pick an idea and stick with it, pivoting your way to success.

However, nocode is a different vehicle, and follows a different model.

With nocode, not every idea has to be a moonshot.

You can make multiple smaller bets, see how they perform, and double down on one that works.

Mistake 2: Makers over-diversify.

As discussed in Single Player Startup Studios we view nocode makers as, well... single player startup studios.

They follow the studio model – as individuals. Meaning: their edge is in launching multiple smaller products one after the other, and compounding four 'capitals' in the process.

Those four capitals are:

Social Capital (Following)
Belief Capital (Credibility)
Career Capital (Skills)
Financial Capital (Money)

Source: Launch.OS

To maximise this effect, it is important to stick to a niche.

For example, if your second product caters to the same audience as your first, chances are you already built and understand that audience.

You can continue where you left off.

The effect is amplified when focusing on a single problem, or even a single solution.

Put the other way around:

If you'd switch audiences with every product, you'd have to start from scratch each time.

Mistake 3: Neglecting old products in favour of new ones.

Shiny Object Syndrome is a real thing.

In fact, Tom Osman has an entire community dedicated to indulging in your FOMO. (yes, it is as great as it sounds)

When it comes to building products though, S.O.S. can lead to a lot of time wasted, a lot of domains occupied, and a lot of products unfinished.

The sad part is, some of those products could have become real winners! If only their maker could stick with them.

The solution is to build complementary products, that are better than the sum of their parts. That way the energy behind a new product, also translates to the old one, and they make each other better.

Source: Tenor

Enter the NoCode Value Ladder

Let's get to the juicy bit. The NoCode Value Ladder

This one model will change the way you look at building nocode products forever.

We established that:

The more you focus on one audience, one problem, one solution – the more managing multiple products becomes less like juggling, and more like stacking, and the stronger the Flywheel effect.

Stacking is the key word here.

Each product in your stack, or ladder, builds on the previous one, and adds a layer of depth to the solution you provide to the customer.

We call this the NoCode Value Ladder.

Click arrows to navigate between slides

The NoCode Value Ladder is a portfolio of complementary products, of increasing value and sophistication, each offering the customer a more compelling solution than the last.

Example*

Launch 1 – Carrd Blog Launch 2 – Notion Template ($19) Launch 3 – Airtable Database ($99) Launch 4 – Softr Content Platform ($199) Launch 5 – Bubble Enterprise SaaS ($499) Launch 6 – Circle Mastermind Group ($1999) *This is just an example, so products might be interchangeable and your ladder might look completely different.

Let's unpack that last quote, and see how to get the most out of your value ladder.

Create Complementary Products

Products are complementary on one of three levels:

Audience Level → Medium Effect → Difficult to Manage – Brand Model (Nike)
Problem Level → Strong Effect → Easier to Manage – Suite Model (Adobe)
Solution Level → Maximal Effect → Easiest to Manage – Funnel Model (Tony Robbins)

The more you focus on one audience, one problem, one solution – the more managing multiple products becomes less like juggling, and more like stacking, and the stronger the Flywheel effect.

Source: Launch.OS

Launch Products of Increasing Value

In the NoCode Value Ladder, every product you build helps sell the next.

This is what that looks like for the three levels mentioned earlier:

Audience Level / Ecosystem Model: Credibility from the last product helps sell the next.
Problem Level / Suite Model: Integration and supplementation with the last product helps sell the next.
Solution Level / Funnel Model: Increasing level of service & depth vs the last product helps sell the next.

Build Products that Match your Skill Level

Following the Flywheel Effect, you become more skilled as a maker with every product launch.

Therefore it makes sense that your second product will be more sophisticated than the first, the third will be more sophisticated than the second, etc.

You want to win small first, before you win big – not go for the moonshot straight away.

At the same time, new customers probably won't go for your high-end solution immediately. They might want to try a cheaper, simpler offering first.

The NoCode Value Ladder uses both to its advantage, by making each product more sophisticated than the next, and always giving the customer a next step up at a higher price point.

This is how the NoCode Value Ladder seamlessly interacts with other models s.a. the Startup Studio Flywheel:

We view the Entrepreneurial journey as a series of cycles (revolutions of the Startup Studio Flywheel), where every cycle is a new product launch.
With each launch, you add a more sophisticated product to your portfolio, matching your skill level, and creating a next step up in the ladder.
You progressively pull people through the funnel. Not just new customers, but also the previous ones!

Article Continues Below 👇

Benefits of the NoCode Value Ladder

1. Maximises Leverage

In the ladder, all your efforts, whether audience exploration, problem definition, solution testing, or marketing campaigns, will apply to all of your products vs just one of them.

2. Maximises Customer Lifetime Value

You will have a solution for every income level, or level of confidence.

As you build trust with your customers by delivering great value at a lower price point, they will be more comfortable investing in a higher priced product.

In short, the ladder acts as a funnel, and the revenue you get from each customer over time, will increase.

Out of 2500 customers who buy your $19 product, 500 might also buy your $99 product, 200 of which can be upsold into your $199 produt, etc. (numbers are made up, don't look into them too much)

3. Maximises Compounding Effect of Flywheel & Capitals

The premise of the NoCode Value Ladder is simple, but its compounding effect is profound:

Insights: You'll learnings from your last launch will inform the next
Audience: Same audience will be there for your second product.
Credibility: Build a track record in a specific Niche
Support: As people get to love your products, they will become cheerleaders for the next one.
Skills: According to Mihaly Cszikzentmihaly, one of the main conditions for flow is the right balance of challenge and skills. Start with an easy build. Then gradually increase the challenge.
Revenue: The Value Ladder works as a Funnel. Users that come in at a low price point, will be drawn into upgrading to a higher priced product.

Upsell incentives: If you have Product A → Offer a discount for Product B. This reduces the Customer Acquisition Cost (CAC) and increases the Customer Lifetime Value (CLTV).

Sounds amazing! Are there any downsides?

Yes, there are.

Pigeonholing

By niching down early on, you run the risk of pigeonholing yourself to a single niche. If later it turns out that niche is not for you, or you want to expand your horizons, there might be some friction from your audience if you suddenly switch who you're building for.

To mitigate this, at the risk of sounding like a broken record: Don't dive off the deep end (i.e. moonshot) immediately.

Play the field. Find out what works.

Double down only if there is product-marriage potential.

Source: Giphy

Devaluing other Products

Every time you launch a shinier, more sophisticated, more valuable product, the existing products become less valuable by comparison.

If you set up your ladder right this should be compensated by sales of the new product, but sometimes it can have a two-way negative effect.

To make both products do better, not worse, make sure they are positioned differently in the customer's mind. Example: one is optimised for convenience (a quick read) and the other for mastery (an intensive cohort-based course).

Made with ImgFlip

Harder Exits

If your business consists of multiple products, and you want to sell off the business of a single product, this might leave a gap in your product portfolio, thereby lowering the value of all the other products in one blow.

Put the other way around, if your business can only be bought as a package deal, this might make for a harder sell, simply because of the higher price point. Which is a good thing in our opinion, but it will take you longer to find potential buyers.

To be Continued...