Jason Leow

May metrics
- Current MRR (all from Lifelog): $109 (↑$10)
- One-off revenue: $974 (↑$67)
- Total revenue: $1083 (↑$77) 🎉🎉🎉
- Total costs = $190
- Total profit: $893 (↑$52) (excl. consulting revenue)
- Profit margin: 82%
- Tweet impressions: 982k
- Followers: 7066 (↑268) 🎉 Passed 7k followers!
- Emails: 216 (↑21) subscribers

Third month in a row where my revenue is above $1k (at $1061)! The thing about my revenue is... it's mostly based on one-time payments. So I never know if the next month's taking will be the same.

---

I've been in a slump for the past 2 months, and only just discovered a few days ago what's likely to be causing it. It's probably a [magnesium deficiency](https://golifelog.com/posts/mind-that-magnesium-1685414275146). Like what?! *I know right.* On this last day of May, I'm writing like that slump never happened. It's a weird feeling, to realise that in the end there's probably nothing broken about me or my mind, but just a chemical imbalance.

Which is perfect timing because things are starting to get real busy. My consulting projects are full-on now, and I'm working on 2 concurrently! Schedule's packed for the entire June, so no vacation even for the school holidays.

I started the month of may with the broad intention to follow my energy, to trust it. Looks like I couldn't be more wrong about the cause and solution. Now that I feel 'normal' again, and my energy and motivation levels slowly picking back up, I can

Onwards!

I just 'discovered' the link between magnesium deficiency and mental wellness, and it's mindblowing (to me). Tl;dr – low magnesium means low moods, as this randomized, double-blind, placebo-controlled [trial](https://pubmed.ncbi.nlm.nih.gov/28241991/) concludes:

> "Daily consumption of 500 mg magnesium oxide tablets for ≥8 wk by depressed patients suffering from magnesium deficiency leads to improvements in depression status and magnesium levels. Therefore, assessment of the magnesium serum and resolving this deficiency positively influence the treatment of depressed patients."

I think it all started when I realised when I switch my daily magnesium supplement from magnesium citrate to magnesium L-threonate. I stupidly forgot to check the dosage levels, and the threonate version is three times lesser than the citrate one. I switched in Jan, and started to feel low moods by March. Maybe the deficiency needed time to build up, within 1-2 months. And with stress/anxiety triggers due to work in March, that brought about the low period. The real clicher was when when I upped my magnesium dosage recently upon realising my mistake. And almost immediately, my low moods disappeared. Like it never happened. I even tried to bring back some of those sad thoughts that circled in my mind, but nothing. So it's not emotional or psychological, not "something I need to work through".

Coincidence? A tiny possibility, but the personal observations, experience and studies seem to triangulate towards what this [article said](https://chandramd.com/magnesium-supplements-anxiety/):

> ...low magnesium levels have been linked with:
>
> - Higher levels of stress
> - Depression
> - Insomnia or sleep disturbances
> - Headaches or muscle pain/tightness
> - Fatigue
>
> Magnesium plays two important roles in the brain, which may contribute to these symptoms:
>
> - It blocks the activity of more stimulating neurotransmitters and binds to calming receptors, resulting in a more peaceful, resting state.
> - It helps to regulate the release of stress hormones like cortisol, acting like the brake on your body’s nervous system.

It really makes me wonder... is that why people love chocolate when they're sad? (Chocolate has high levels of magnesium). I've known my carnivore friends to mention that they would crave chocolate when they are low on magnesium.

That also made me think if my previous mild to moderate depressive episodes were due to undetected magnesium deficiencies! OMG was it all just a chemical imbalance? Generally I hate that perspective on mental health issues, but this might just be an exception to the rule...

*Mindblown.*

Next time you feel low, maybe try taking some dark chocolate, spinach, beans, cashews, or almonds. Who knows, it might just be a magnesium deficiency acting out, not a broken mind.

https://pluginsforcarrd.lemonsqueezy.com/affiliates

Coming full circle on my Twitter approach lately.

I used to schedule my tweets a few weeks ahead. And I'll sit down on Monday to write them all out in 1-2h. Just like any good content creator guru would advise. But since around the start of the year or thereabouts, after doing it for about 1-2 years, I got tired of it. It felt 'off'. It didn't align inwardly, didn't feel congruent to how I was protraying myself on Twitter versus how I truly felt on my indie journey. It felt forced, artificial. Even inauthentic sometimes. I was just "building an audience", not really building in public. I've now stopped doing that altogether, and instead just tweeted whatever I’m doing or thinking for the day. I'm having so much more fun chatting with other indie peers right now. I think engagement rate is better too. Or at least, the kind of engagement that I enjoy. And since the demise of all the Twitter tools I used to use, I'm even starting to consider not using any tool at all to auto-retweet my tweets, and instead just tweeting directly on the Twitter desktop app.

And I'm not alone. Just from this tweet by Jakob and the replies alone, I can confirm the shift in approach in many of the friends I interact with on Twitter:

> I’ve made the executive decision to start posting whatever whenever I feel like it. No strategy, no scheduling. Just raw thoughts. Let’s make Twitter fun again. – [@jakobgreenfeld](https://twitter.com/jakobgreenfeld/status/1662463404680814594)

I wonder what brought about this sea change. Maybe it's just fatigue at all the clickbait noise created by threadbois. All those templated tweets about"web3", "NFTs" and then now "ChatGPT". Or accounts weaponizing outrage for engagement.

Maybe with organic reach on Twitter being nerfed, people finally got cold-turkeyed from the dopamine addiction for followers and likes, and pivoted to what Twitter was originally for all along – connecting for fun, with cool people doing cool things.

For me, it's observing folks like @levelsio, @dannypostmaa and @tdinh_me do it. They don't retweet or seem to use Twitter scheduling tools. They just build cool stuff and tweet. The engagement will take care of itself if you're doing interesting things. In fact, Tony himself built a Twitter tool but he doesn't schedule anything at all:

> Highly recommend. Fun fact: even though I built @blackmagic_so, I have never used it (or any other app) to schedule my tweets 😂 – [@tdinh_me](https://twitter.com/tdinh_me/status/1662608639469981696)

Kinda reminds of of how drug dealers "don't get high off their own supply", but in a good way haha. But seriously though... seeing how they do it reminded me of my indie hacking roots, why I joined Twitter in the first place, why I want to build in public. Before I learned about building an audience, before the Twitter gurus spammed our timelines with "10 tips to get to 10k followers in 1 month".

I want to get back to that.

Full circle.

Is being associated as an "indie hacker/maker/dev" limiting?

Are there any limiters and limiting beliefs to being one that holds you back from getting the results you want?

Mike here started a great conversation about it:

> Just a feeling here, but, I bet if you remove the “indie” label/identity, you’d 10x your revenue. 🔥 – [@CSMikeCardona](https://twitter.com/CSMikeCardona/status/1662414161555628032)

And [Dominic](https://twitter.com/dqmonn/status/1662593406105780226) laid out a few which were hit the nail on the spot:

> Burning passion for developing product, but not distributing it.
> Small set of „approved“ growth channels (SEO, Twitter), long list of ones you would not use (Cold Mails, Partnerships, Lead Magnets)
> Only MRR / digital goods is „good money“
> Accepting when growth is slow (as opposed to solving it)
> Everything needs to be polished
> Everything needs to be shared
> Everything needs to be celebrated
> VC is the devil

Looking through the list, I'm thankful that many on that aren't huge problems for me by now, like the first one. I mean, I still have a burning passion for building yes. Give me building, any day. But I'm no longer opposed to doing it. Marketing was hard to unlearn and learn but it wasn't due to being indie, but more a learned reflex from growing up seeing slimey sales tactics. Don't seem to have problems doing marketing now. Still need to work on that impatience for results though.

But going back to the original question: Is being "indie" really limiting? I think some of those limiting beliefs aren't just confined to indie hackers. It's common for creators, entrepreneurs. We all got our own limiting beliefs, indie or not... We all come with our own sets of biases and beliefs, many which can help or hinder... or both! Depending on context. The ability to work hard is both a boon and a bane. Hard work is good when you're working on the right opportunity, bad when [you're digging on the wrong spot](https://golifelog.com/posts/working-hard-is-overrated-so-is-working-smart-1685086071076).

I'm not sure "indie" was limiting for me, even though I'm aware I had to unlearn many limiting beliefs conditioned through the years. It's just a convenient label to signal I'm part of a community, to connect with others here. In fact, been doing this way of working before "indie hacker" was even a thing! Back then we were just "self employed', "freelancer". The names change, but the beliefs we carry don't.

As [Paul G says, keeping your identity small](http://www.paulgraham.com/identity.html) is the way.

Anytime you over-identified with something, that virtue just became a vice.

Lately I'm making all the rookie mistakes for my sleep. All over again.

I'm sleeping late, at 10pm or later. I'm not being disciplined about going to bed by 9.30pm, or even 8.30pm on some days to catch up on sleep. These days I catch up by waking late, by clocking my 5 sleep cycles. At least I try to even the sleep debt, but there's been downsides. The constant pendulum between waking at 4+am and 6_am screwed up my body clock. It's so terribly confused right now. Like how last night, I woke at 4am to go to the toilet, but was wide awake after, so decided to just wake and get to work.

Not just am I sleeping later, I'm also scrolling my phone, exposing myself to blue light and stimulating content right till the moment I sleep. It's a bit like revenge bedtime procrastination. I'm trying to fill some emptiness from the day.

I don't do sitting meditation as much at night now, preferring to just sleep. Nothing to help me settle my mind and calm tf down. I think not doing that makes me more prone to poor quality sleep.

In March and April I remembered not even exercising much. Being pretty much a chair potato. That, as well, didn't help with sleep.

And an even worse mistake – I started taking magnesium threonate over my previous magnesium citramate but stupidly forget to check the per serving dosage. The threonate version was *actually* 3 capsules per serving while the previous was 1 cap per serving. So I've been taking 3 times lesser magnesium for months without knowing. No wonder I've been getting occasional leg cramps at night! 😩

It's been a downhill spiral to the death of sleep lately.

I can say it's all due to stress, work, and care responsibilities. I can say it's due to burnout. Many reasons. But it's all still *on* me.

And only *I* can pick myself back up to frequent 90% scores again.

I've done it before. I can do it again.

Hard work is overrated.

It alone is not sufficient for success.

So is working smart. It alone isn't enough either.


You got great product-market fit? Awesome, but you can still fail. Just ask the many awesome Twitter tools that shut down when Twitter increased prices for their API.

Boatloads of capital? Hundreds of millions? Sorry, no gurantee of success.

Got lucky? Good for you, but no saying that the luck will hang around.

Even a combination of those factors—hard work, luck, capital, great product—won’t guarantee success.

*It’s necessary, but not sufficient.*

In Chinese there's a saying 天时地利人和 – a harmony of weather, timing, terrain, advantage, people. For sure it's an interplay of factors – good product, product-mkt fit, right timing/opportunity, resources, skills, cash, luck, etc etc.. How much of each depends on your circumstances. And hundreds of other factors that we cannot control. Even if you had it all, there's still many factors outside of one's control that brings success. So while it's necessary to do, it might not be sufficient.

So don't believe anyone who tries to give you a formula.

Some folks will get annoyed when they are told hard work is overrated. They often misunderstand. Hard work is necessary. You should still work hard. But it's an illusion that hard work alone will bring you to success – that's the key point here. Though just because hard work is overrated doesn't mean you can be lazy and wait for success to land on your lap. It won't happen either. I think it's good that people realise there's a nuance to what "hard work" truly means, and act accordingly. Most hold very simplistic, cause-and-effect notions of hard work. And get frustrated, drop out when it doesn't go according to that narrative.

I'm still unlearning this reflex after years of conditioning

I was intrigued by this tweet by [@tarasowski](https://twitter.com/tarasowski/status/1660903135227805698) about building a SaaS to $100 MRR and then selling it for $10k:

> How to make $10,000 in the next 4 weeks.
> 1. Build a SaaS
> 2. Bring it to $100 MRR
> 3. List on @acquiredotcom
> 4. Sell it for $10,000+
>
> I have done that, it works.

And obviously this was intriguing enough for others that that my [retweet](https://twitter.com/jasonleowsg/status/1661154692427317249) blew up.

$20k in 4 weeks sounds like a good deal, no? Sounds like a lucrative opportunity. Of course, there’s no guarantee it can happen every month. The reality is that it is possible but *not commonplace* – this [Feb 2023 report](https://blog.acquire.com/acquire-com-biannual-acquisition-multiples-report-feb-2023/) shows SaaS are asking multiples at 2-3x revenue or 5x profit:


The way I see it, this could be a fun way for someone who's still looking for a main project to focus on, to try many different things first. For sure, this approach has trade-offs on opportunity cost and focus, so not ideal if you already got a good project going.

Or say if I build something but don't foresee a long term future with it, and want to sell. Maybe after building it I realised I'm not in love with the problem enough to do it long term... then selling for $20k after trying it out for 1 month sounds like a nice exit, yes?

Can also imagine that if someone is good at marketing and have good acumen at spotting opportunities, this might be a good way own a business already running on momentum and grow it multiple fold. What’s interesting is how someone could buy it at $10k, build it from $100 MRR to $100k MRR, and flip it for millions.

But the key draw for me is if I build something with the intention to sell it off, maybe new and different opportunities would open up, because I wouldn’t need to fall in love with the problem...

I’ve always judged product ideas on whether I’m in love with the problem, not whether the opportunity is there. I feel like I need to have that maker enjoyability aspect, otherwise I won’t last in the long term. But this got me thinking: Why do I need to always build something to own? Why do I need my products to be like my babies, or borrowing an analogy from @dvassallo, why treat them like pets instead of cattle? If I’m not obsessed with having to love a problem, maybe I can work on product ideas that are trending and is a good opportunity for a limited time, say 1-2 months, and flip it for a good multiple. I can live with 1-2 months! And in the process, I’d probably learn a lot too, work out my shipping muscles, and gain some followers for building in public. Rather than procrastinating and dwelling in abstract terms over which idea I should throw myself into and not ending up not acting at all…

The way I see it might work for me personally, is I don't know if it's a problem space that I'm interested in, but I saw a big opportunity and went for it. Build it out and grow it. Then could decide to sell if still not in love after 4 weeks, or if I start to like it, I can continue growing it. Previously I would have to just let it die if I didn't want to continue and it'll go to waste, or I continue grudgingly - either which are less than ideal.

Build to sell ≠ build to own.

They say, for entrepreneurship:

> Start where you are. Use what you have. Do what you can.

Reminded me of this famous photo of Jeff Bezos building Amazon from ground zero, using a door as a desk.


So what exactly do I have to offer that can get me an extra $1000 per month? [Someone](https://twitter.com/deadcoder0904/status/1660660009854808064?s=20) suggested I do this:

> 1. write down all your skills.
> 2. see if you can provide a service using them where time = money
> 3. reach out to your network to see if anyone needs help with those skills.
> 4. charge >$250 so you need 4 people max.

Okay so here goes:

1. My skills: Design thinking, design research, coaching for design thinking, web design, web development, building simple apps, copywriting, social media marketing,

2. What can I offer:
- Design thinking, design research:
- [Doing] My design consultancy for government and non-profits.
- [Doing] Freelance in design research.
- [New] Advisory for scoping tenders for design services.
- Coaching for design thinking:
- [Doing] Training for organisations.
- [New] 1-on-1 coaching for folks in design industry.
- Web design &/or development:
- [Doing] Sweet Jam Sites (but wanted to shut it down previously).
- [New] Create niche websites - listing directories, Carrd sites
- [Doing] Building tech for good apps by applying for grants.
- [New] Build micro-SaaS as consulting?
- [New] Software consulting by building Carrd plugins?
- Copywriting & social media marketing:
- [New] Fiverr or Upwork writing gigs
- [New] Write technical or niche blog posts for creator/indie hacker/web dev/keto/sleep biohacking industry
- [New] Ghost-writing tweets or content?
- [New] Write social media content for technical or niche blog posts for creator/indie hacker/web dev/keto/sleep biohacking industry

3. Who I can reach out to:
- Design thinking, design research:
- Contacts in government and non-profits.
- Post on LinkedIn and Twitter about needing projects.
- Cold message contacts to ask if they have gigs.
- Market new offerings on social media.
- Coaching for design thinking:
- Cold outreach to organisations about design thinking coaching and training offerings.
- Post about 1-on-1 coaching for folks in design industry.
- Web design &/or development:
- Tweet about offer to create niche websites - listing directories, Carrd sites.
- Apply for new grants to build tech for good apps.
- Tweet about my new offering to build micro-SaaS as consulting
- Email to existing customers about software consulting by building Carrd plugins?
- Copywriting & social media marketing:
- Check out Fiverr or Upwork for writing gigs
- Cold outreach about writing technical or niche blog posts for creator/indie hacker/web dev/keto/sleep biohacking industry

4. Of all the ideas, I just need to get say 5 clients at $199 each. 5 does feel possible! Or:
- 1 client × $1000
- 2 clients × $500
- 4 clients × $250
- 5 clients × $199
- 10 clients × $99
- 20 clients × $50
- 50 clients × $20
- 100 clients × $10

*So what else can I look into that I can offer?*