How to Build a $1M Product With NO Coding｜ David Bressler’s Story

Hello, I’m David Kim.

I’m planning to create a series of videos discussing renowned indie hackers, their stories, and growth trajectories. Welcome to and subscribe my YouTube channel and Podcast “AI Watcher by DK”.

We’ll deconstruct their cases and learn from both their successes and failures.

I’m on my indie hacker journey under an anonymous identity, aiming to share my progress from 0 to $100k MRR. Feel free to follow me on Twitter.

Today, we’re diving into the remarkable journey of David Bressler, an indie developer who turned a common workplace frustration into a million-dollar business. Let’s explore how David, with no coding experience, created Formula Bot and rejected offers from tech giants along the way.

The Birth of Formula Bot

David’s inspiration came from a familiar office scenario: colleagues constantly asking for help with Excel formulas. Recognizing a widespread problem, he saw an opportunity to create a solution. Formula Bot, a productivity tool for data analysis professionals, was born.

Key features of Formula Bot:

• Converts text into Excel formulas, SQL queries, scripts, and regex
• Boasts 180,000 monthly visitors
• Initially focused on turning natural language into Excel formulas

Fortuitous Timing

July 2022 marked a pivotal moment for David. With the birth of his youngest child approaching and six weeks of paternity leave ahead, he embraced the entrepreneurial spirit. Many might have used this time to rest, but David saw an opportunity. This embodies a key definition of entrepreneurship: “The pursuit of opportunity without regard to resources currently controlled.”

Using Bubble, a no-code platform, and learning from YouTube tutorials, David built his MVP in those six weeks. He even enlisted GPT for naming suggestions, resulting in “Excel Formula Bot.” The timing was crucial — in mid-2022, AI products weren’t as ubiquitous as they are now, giving David’s product a novel appeal.

The Power of Reddit

David’s product gained traction through two simple Reddit posts in subreddits like Internet Is Beautiful. These straightforward introductions attracted 100,000 visitors to his product, highlighting the widespread struggle with Excel formulas.

However, this viral success came with a hefty price tag. Since the product was free and used OpenAI’s tokens, David faced a shocking $4,999 OpenAI bill. Quick thinking led him to add a donation link, which helped recover a few thousand dollars, partially offsetting the costs.

From Free Tool to Profitable Business

An unexpected opportunity arose when the organizers of the Microsoft Excel World Championship reached out to David about advertising his product at their competition. This made David realize he needed to start charging for his product to sustain advertising costs.

This decision, coupled with Google Ads, transformed Excel Formula Bot into a subscription-based service. Remarkably, this simple, one-page site managed to earn David over $30,000 in just three months after he started charging. Interestingly, there are many features we typically consider “basic” for a product — as the product description page, the user account system, and the payment interface — were developed in the months following that initial earnings period.

Customer-Driven Development

David’s commitment to user feedback played a crucial role in Formula Bot’s evolution. He often received emails from users about problems his product couldn’t solve yet, with some even sending their Excel spreadsheets for help. Instead of ignoring these requests, David chose to help, processing their files and doing data analysis work in exchange for phone calls to gather detailed feedback.

These calls provided valuable insights for product development. Through this feedback, David continually refined and improved his product, gradually transforming his Excel formula generator into a comprehensive data analysis assistant tool.

Overcoming Competition

Soon after launching, David discovered about 10 copycat competitors offering identical features, some even using the same front-end code. His initial response was to lower his price to $2.99, but he quickly shifted focus to building a complete product experience and continually enriching its functionality.

David’s dedication to improving Formula Bot set him apart from competitors. As the original creator, he had a genuine desire to make his product the best it could be, with a clear vision for future development. This commitment, combined with the advantages of being first to market, allowed David to maintain his lead and even integrate Formula Bot directly into Excel, offering a level of convenience hard for competitors to match.

Marketing Strategies

David’s marketing approach included several clever strategies. He spent about 10% of his time on marketing, focusing initially on Reddit for traffic and later on SEO. He developed a unique method of combining SEO with Reddit, searching for keywords on Google and adding “Reddit” after these terms to find high-ranking Reddit posts to respond to.

He also emphasized the importance of the Quality Score in Google Ads, sharing tricks to improve this metric. Additionally, David treated viral marketing like a slot machine, emphasizing the need to keep trying different content and strategies to increase the chances of achieving viral spread.

Pricing Strategy and Growth

David’s approach to pricing and growth was strategic and customer-focused. He initially set low prices to test the market, gradually increasing them as he added features. To reduce customer churn, he maintained lower prices for early subscribers while attracting new users at higher rates.

This clever strategy created a “lock-in effect,” encouraging long-term product use while boosting overall revenue. As a result, Formula Bot’s price increased from $2.99 to $30 per month, with the Lifetime Value of a customer growing from $27 to exceeding $100.

Rejecting Big Tech and VC Offers

Despite his success, David made some unconventional choices when faced with collaboration and investment opportunities. He turned down an offer from Microsoft’s plugin department to make Formula Bot an official Microsoft plugin, concerned about maintaining control over his product’s development.

He also rejected investment offers from venture capital firms, including Sequoia Capital and Y Combinator. When asked how he would build a billion-dollar company, David’s response was refreshingly honest: “To build a billion-dollar company, you need to reshape an entire industry. But I just want to reshape my family’s future. I just want to take a few more vacations each year.”

Key Takeaways from David’s Journey

1. Timing is crucial: David launched when AI curiosity was at its peak, giving his product a significant advantage.
2. Self-motivation matters: Despite not knowing how to code, he managed to launch his product in just six weeks.
3. Customer-centric approach: By personally helping users with their Excel problems, David gained crucial insights that shaped Formula Bot’s development.
4. Persistence in marketing: David treated viral marketing like a “slot machine,” emphasizing the importance of consistent effort.
5. Focus on product quality and personal happiness over rapid growth.

Conclusion

David Bressler’s story challenges conventional startup wisdom, emphasizing the importance of balancing professional success with personal satisfaction.

As we reflect on David’s journey, it’s clear that there’s no one-size-fits-all approach to startups. The key is finding a path that aligns with your values and pursuing it passionately.

David’s experience offers valuable insights into striking that delicate balance between professional achievements and personal happiness.

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