Sorry for being a noob, but HOW DO I GET THAT "ASK ME ANYTHING" tag on this thread so it appears when people look for ASK ME ANYTHING threads?
Hi everyone, I'm new to this forum.
I grew up on direct response marketing and the generally shady affiliate industry and made my first real money combining software and SEO (turned $0 into a few hundred grand, which, at the time, felt like a bajilllion). Over the past 12 months I've grown my first 'real' software business (nothing to do with SEO) from $0 to $30,000+ in MRR (monthly recurring revenue) with 85%+ profit margins (fixed costs so overhead decreases as a % as the business scales) with 9-10% month-on-month MRR growth for the last 6-9 months. 97%+ of customers pay $25-$75 per month and the churn rate is well established at ~14% or so. On the open market, with no specific M&A opportunity, this business is most definitely worth ~$600k (2 years of profit) and if you could find a really willing buyer, or if it simply continues to grow for a few months, a million dollars becomes reasonable. This all within the past 12 months, with 6-7 months of tough work and then, lately, a pretty relaxing workload of just a few hours per week.
For comparison's sake, our growth curve looks identical to Buffer's (whose figures are all public via baremetrics) during their first year, but finishes the year at 30k instead of 60k. Mostly linear as the network effects/virality isn't huge for our market.
I recently sold a percentage of my stake for a nice cash sum, and so I'd rather not disclose the exact business (I apologize, sincerely) but frankly the name of the business don't matter. I'm also not covering my tracks at all, and if you google for a few minutes you will be able to figure it out. If you do so, I respectfully ask that you do not reference the name of the business in this thread.
SAAS is the best F*cking business model in the world and I am totally in love with software. I sleep like a F*cking baby. Ask me anything about building or growing a SAAS, or software product, or, way more importantly, how to pick a market/product to build, which is by far the most important decision you will ever make which essentially predestines your fate.
If you're not sure what to ask, just post your SAAS idea here and I'll tell you why it's a good or bad idea.
Hi everyone, I'm new to this forum.
I grew up on direct response marketing and the generally shady affiliate industry and made my first real money combining software and SEO (turned $0 into a few hundred grand, which, at the time, felt like a bajilllion). Over the past 12 months I've grown my first 'real' software business (nothing to do with SEO) from $0 to $30,000+ in MRR (monthly recurring revenue) with 85%+ profit margins (fixed costs so overhead decreases as a % as the business scales) with 9-10% month-on-month MRR growth for the last 6-9 months. 97%+ of customers pay $25-$75 per month and the churn rate is well established at ~14% or so. On the open market, with no specific M&A opportunity, this business is most definitely worth ~$600k (2 years of profit) and if you could find a really willing buyer, or if it simply continues to grow for a few months, a million dollars becomes reasonable. This all within the past 12 months, with 6-7 months of tough work and then, lately, a pretty relaxing workload of just a few hours per week.
For comparison's sake, our growth curve looks identical to Buffer's (whose figures are all public via baremetrics) during their first year, but finishes the year at 30k instead of 60k. Mostly linear as the network effects/virality isn't huge for our market.
I recently sold a percentage of my stake for a nice cash sum, and so I'd rather not disclose the exact business (I apologize, sincerely) but frankly the name of the business don't matter. I'm also not covering my tracks at all, and if you google for a few minutes you will be able to figure it out. If you do so, I respectfully ask that you do not reference the name of the business in this thread.
SAAS is the best F*cking business model in the world and I am totally in love with software. I sleep like a F*cking baby. Ask me anything about building or growing a SAAS, or software product, or, way more importantly, how to pick a market/product to build, which is by far the most important decision you will ever make which essentially predestines your fate.
If you're not sure what to ask, just post your SAAS idea here and I'll tell you why it's a good or bad idea.
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