Interview With Yahia Bakour
Describe your product or service:
“Real-time customizable stock market alerts.”
Describe your company values and mission:
“Democratize access to high-quality stock market tools.”
How are you funded? I.e. venture capital, angel investors, etc.
How big is your team? Tell us a little about them (I.e. co-founders, freelancers, etc.)
“Three founders, two part-time engineers, [and] one content creator.”
Did you always want to start your own business? What made you want to become an entrepreneur?
“Yes! We've all had an itch for entrepreneurship outside of our regular nine to five, and Stock Alarm provides a creative outlet for us to explore our more entrepreneurial ideas. We get to experience the joys and difficulties of building a product up from scratch and all the complexities of scaling.”
How did you come up with your startup idea? How did you decide to actually act on the idea? What gave you confidence that you were on the right track?
“Living on the West Coast meant that we'd have to wake up at 6:30 a.m. PST for the stock market [to] open when volatility is usually at its highest, or we'd have to risk waking up to a red portfolio. We built Stock Alarm to ensure that we only wake up when it matters most by setting customized alerts on the assets we are tracking based on the parameters we care about. We use our own product on a daily basis, so quality is a top priority.
Our product has 4.8 stars on the AppStore with over 5,000 ratings at the moment. We’ve always maintained a high-quality bar, and our users have repeatedly let us know that this is one of our most important differentiators. We pride ourselves on the simplicity of our UI, [and] we try to hide away all the complexities that our users do not want to think about and ensure we constantly dogfood our own product.”
How did you come up with your company name? Did you have other names you considered?
“We provide alerts or ‘alarms’ on individual stock price movements, hence the name Stock Alarm! We thought of alternatives but decided that the best name is the most straightforward one! (Also the most SEO-friendly.)”
What is the greatest challenge you faced in starting your business, and how did you overcome it?
“Pricing has consistently been the most interesting challenge. We found that offering multiple pricing tiers with varying offerings has yielded us the most success along with yearly subscriptions at large discounts.”
Who is your product or service made for? Who is your target market?
“Avid stock market traders and enthusiasts.”
What's your marketing strategy?
“Organic growth [and] word of mouth has been our greatest channel.”
How did you acquire your first 100 customers?
“Product Hunt / Indie Hackers / and [optimal] SEO.”
What are the key customer metrics / unit economics / KPIs you pay attention to to monitor the health of your business?
“MAU (Monthly Active Users) / MRR (Monthly Recurring Revenue) / Churn.”
What's your favorite book on entrepreneurship?
“‘The 4-Hour Workweek.’”
What is your favorite startup or business podcast?
What is something that surprised you about entrepreneurship?
“How hard it is to acquire users.”
How do you achieve work/life balance as a founder?
“Build a quality product with quality infrastructure. Bad code causes headaches.”
How do you stay motivated?
“Our customers constantly provide positive feedback.”
Did you have to develop any habits that helped lead you to success? If so, what are they?
“Learn to raise the bar on quality. Automate repetitive tasks. Learn from others.”
What are you most proud of as an entrepreneur?
More on Stock Alarm
We were fortunate enough to hear some valuable insights during our interview with Yahia Bakour of Stock Alarm that will inspire, motivate, and teach aspiring and established entrepreneurs alike.