How Josh Mohrer Built Wave AI to $4M ARR Solo in 8 Months
Who is Josh Mohrer?๐
Josh Mohrer, a former business executive and the creator of Wave: AI Note Taker, transitioned from leading Uber's New York business to becoming an indie app developer. With a background in e-commerce and a proficiency in business and technology, he has leveraged his skills and determination to develop successful AI applications.
What problem does Wave AI solve?๐
Wave AI addresses the frustration of sifting through lengthy audio recordings by automatically transcribing and summarizing meetings, phone calls, and lectures, saving users significant time and effort.
How did Josh come up with the idea for Wave AI?๐
Josh Mohrer shifted from a career in high-powered business roles to become a solo indie app developer, spurred by a longstanding curiosity in engineering and technology. His fascination with AI's potential lit the path toward creating a tool that brought AI models closer to everyday users. An initial idea came to life when he developed a voice recorder that could transcribe and summarize audio, a concept which garnered excitement from personal experiences like helping his father understand complex medical appointments better.
Before fully pursuing the idea, Josh meticulously gathered feedback from family and friends, iterating the concept to ensure it met real-world needs. He faced the challenge of building a functional app with minimal coding experience, resolving it by relying heavily on AI tools like ChatGPT that guided him through the technical aspects of developing code. This approach allowed him to piece together the application rapidly, eventually creating a working prototype in just a day.
Throughout this journey, Josh learned that staying focused on simplicity and user experience was crucial. By continually refining the app based on user feedback, and maintaining a direct connection with users through support, he ensured the product was genuinely useful and intuitive. His experience reinforces a key lesson for aspiring founders: taking incremental steps and being open to technological aids can transform abstract ideas into tangible, valuable solutions.
How did Josh build the initial version of Wave AI?๐
Josh Mohrer of Wave AI managed to create the initial MVP for the Wave: AI Note Taker app in just one day using Swift for iOS development. To overcome his lack of a professional development background, he relied heavily on OpenAIโs ChatGPT for coding support. This tool allowed him to break complex coding tasks into smaller segments, enabling him to focus on single components at a time. Josh opted for third-party solutions to handle complex infrastructure needs, such as in-app purchases, which posed challenges early in the process. Despite these hurdles, his commitment paid off, allowing him to complete the first version quickly and effectively without professional engineering help.
How did Josh launch Wave AI and get initial traction?๐
Social Media Promotion๐
Josh Mohrer used social media, especially LinkedIn, to increase visibility for Wave AI. He regularly posted updates about the appโs progress, sharing graphs and key milestones like revenue achievements. This strategy helped him attract curiosity from potential users who were interested in the unique story of a former business executive developing an app on his own.
Why it worked: The transparency and the narrative of a solo developer attracted attention in entrepreneurial circles, encouraging shares and organic interest. As people understood Mohrer's journey and the app's progress, it inspired support and downloads from tech enthusiasts and fellow entrepreneurs who wanted to witness and be part of his journey.
Meta Ads and A/B Testing๐
Josh used Meta (formerly Facebook) ads extensively to acquire new users. He used video ads to capture attention and drove traffic to the app store. These ads were regularly A/B tested to optimize performance and were targeted towards demographics who would find the app useful, such as professionals and students.
Why it worked: The meta ads provided a way to reach a large audience efficiently. The use of A/B testing allowed Josh to refine his strategy over time, ensuring that ad spend was focused on the most effective content and demographic targeting, leading to a steady increase in user acquisition.
Onboarding Experience๐
The appโs initial interaction included a streamlined onboarding process and a direct paywall presentation. This approach was coupled with simple pricing tiers, including a subscription model with no trial period, which tested user interest in immediate monetization versus providing a free trial.
Why it worked: A straightforward onboarding process, which immediately demonstrates value through functionality, encourages users to perceive the app as a valuable investment. The paywall, without an immediate trial, leveraged first-contact interest, ensuring serious users progressed directly to subscription.
What was the growth strategy for Wave AI and how did they scale?๐
Paywall A/B Testing๐
Wave AI significantly boosted their growth by strategically using paywall A/B testing. This involved constantly iterating paywall designs to find the most effective way to convert free users into paying subscribers. They used Adaptyโs tools to conduct these tests, which helped them refine their approach and optimize subscription rates.
Why it worked: A/B testing allowed Wave AI to precisely identify which paywall layouts and offers led to the highest conversion rates. The ability to swiftly deploy and analyze tests ensured that their paywall was always optimized to drive maximum revenue.
Meta Ads๐
Meta (Facebook) ads were a key driver in Wave AIโs user acquisition strategy. By heavily investing in these ads, Wave AI successfully reached a broad audience, which was crucial for their appโs rapid growth. The ads were designed to be engaging and relevant, often showcasing scenarios that resonated with potential users.
Why it worked: Metaโs advertising platform is well-suited for pinpointing and reaching target audiences through their advanced analytics and targeting capabilities. The ads drove immediate traffic to the app, significantly boosting download numbers and helping maintain steady growth.
What's the pricing strategy for Wave AI?๐
Wave AI leverages a subscription-based pricing strategy offering 30 minutes of free transcription per month, with plans priced at $6.99 per month, $20 annually, and $30.99 for a lifetime subscription, optimizing conversion through aggressive paywall visibility and strategic A/B testing.
What were the biggest lessons learned from building Wave AI?๐
- Embrace Solo Development: Josh Mohrer built Wave AI independently, demonstrating that one person can create and manage a successful app with determination and the right tools, such as AI for coding assistance.
- Iterate Based on Feedback: Constant user feedback and troubleshooting helped Josh refine the appโs functions and user experience, showing the importance of adapting and improving based on real-world usage.
- Utilize Effective Growth Strategies: Paywall A/B testing and strategic use of meta ads helped Wave AI quickly reach a $4M ARR, emphasizing the significance of data-driven marketing decisions.
- Leverage Personal Strengths: Joshโs background in business and tech allowed him to transition effectively into app development, illustrating how leveraging oneโs existing skills can lead to entrepreneurial success.
- Balance Independence and Growth: While enjoying the benefits of operating solo, Josh plans to involve others in his project as needed, highlighting the importance of knowing when to seek external support for continued growth.
Discover Similar Business Ideas Like Wave AI๐
PDFLiner is an electronic document management platform that allows users to create and edit PDF files, add electronic signatures, fill out forms, and manage electronic documents, and has reached $40K MRR and is on track to do $500K ARR this year, with more than 80,000 users, and plans to expand its forms catalog and improve its functionality to deal with the B2B segment.
Labor Sync is a mobile application that provides business owners with the ability to track the time and GPS location of their mobile workforce and after just one year of use, they savedย $104,000ย across 45 employees despite starting off with no funds for advertising or marketing.
More about Wave AI:๐
Who is the owner of Wave AI?๐
Josh Mohrer is the founder of Wave AI.
When did Josh Mohrer start Wave AI?๐
2023
What is Josh Mohrer's net worth?๐
Josh Mohrer's business makes an average of $333K/month.
How much money has Josh Mohrer made from Wave AI?๐
Josh Mohrer started the business in 2023, and currently makes an average of $4M/year.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
