Issue#83: Building $1K - $10K MRR Micro SaaS products around AI, GPT-3, Stable Diffusion, DreamBooth - Part 2
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Micro SaaS News this week in 2 minutes
(This saves you hours of time and keeps you up to date on what's going on in Micro SaaS.)
Our Micro SaaS HQ Pro member Shree Munukuntla launched AISlash, a browser extension that brings GPT-based AI to any input type fields on any web page.
The founders of Supademo hit $1K MRR in 6 Months with 60 paying customers. See the interview on FounderBeats.
Pod Genie, a tool for creating bespoke podcasts by Michael, gets 4 paying customers just within a week of launching.
Lazztech Hub, a geolocation-based social app, by Gian Lazzarini crossed 1K user base
Ihor Stefurak shares how he created a chrome extension with the help of ChatGPT, received $1K worth of pre-orders within 24h and sold it after 3 weeks on Acquire.
Bakchich hits $35K revenue with 10K users in 6 month. It’s a crowdfunding platform for African content creators.
Klaas reached $1,000 MRR within 2 weeks from Webtastic AI, a lead discovery tool.
Let’s see today’s Newsletter around a Micro SaaS niche.
No fluffy content. If your goal is to build a $100m ARR business, this is not the right post. Here I am NOT going to talk about building the next Facebook or Twitter. If your goal is to make a $1K to $10K MRR, continue reading.
This post will cover one SAAS area and talk about multiple niches in this space. This post also explains how to do tech implementation, do market analysis, and how the current players are doing, and ends with a cost analysis to understand the overall cost for 100 users.
This is Part 2 of the two-part series. (See Part 1 in the earlier issue from archives.)
This is one of the biggest updates covering everything in this space.
What is OpenAI/GPT-3 & Why is it becoming so popular?
Generative Pre-trained Transformer 3 (GPT-3) is an autoregressive language model that uses deep learning to produce human-like text. It is the third-generation language prediction model in the GPT-n series created by OpenAI, a San Francisco-based artificial intelligence research laboratory. See more at OpenAI and OpenAI blog. If that's a lot of jargon, don't panic. GPT-3 is purely API based and if you know calling an API, you should be good to go.
What is DreamBooth?
Dream Booth is like a photo booth, but once the subject is captured, it can be synthesized wherever your dreams take you. Dreambooth is a technique to teach new concepts to Stable Diffusion using a specialized form of fine-tuning. Some people have been using it with a few of their photos to place themselves in fantastic situations, while others are using it to incorporate new styles.
Some products built on OpenAPI/GPT-3/StableDiffusion/DreamBooth/DallE2 got a lot of traction in the last few months.
Lexica: Lexica is a Stable Diffusion search engine for images generated by Stable Diffusion.Â
TweetHunter:Â Helps people generate Tweet ideas much faster using AI.Generates AI-powered Tweets. Crossed $1M ARR in less than 2 years.
ImaginaryPaws: Customized pet art for pets. Generates different variations of the pet based on the sample pictures of the pet.Â
ExcelFormulaBot: Transform text instructions into Excel formulas in seconds with the help of AI. Experience the full power of Excel & Google Sheets AI formula generators to solve problems in seconds. Crossed $3300 MRR in less than a year.
InteriorAI: AI tool to help generate interior design images from uploaded raw photos of the rooms/house. Interior design mockups and virtual staging by AI. Crossed $100K ARR in less than 3 months.
AIGraphics: Create beautiful, bespoke graphics in seconds with AI. Make everything from logo inspiration to social images and YouTube thumbnails at the click of a button. Profitable and started getting sales.
AIProfilePic: Create stunning avatars completely made by A.I. iPhone App to generated AI based profile pictures with different styes based on the uploaded sample pics. Crossed $10,000 in sales in less than 2 months.
CopyAIÂ -Â GPT-3-powered Copywriting. 30K users signed up.
IdeasAIÂ -Â GPT-3-powered business idea generator.
SheetAI: Use AI to quickly transform your text instructions into a Google Sheet formula.Â
WebCoPilot: AI writing Assistant for Notion. Helps write Notion pages with AI. Speeds up the writing process and helps people focus on what matters.
ProfilePictureAI: Create perfect profile picture with AI. Uses artificial intelligence to generate hundreds of image that looks perfect with different styles based on the uploaded photos. Crossed thousands of dollars in revenue in less than 2 months.
Elephas: Personal AI Writing Assistant for Mac ecosystem including iPhone, iPad and Macbook. You can save hours every day. Crossed $1K MRR and $10K in Life Time sales.
Negative Nancy says: GPT-3 is tough as it is built on machine learning and you would need knowledge of machine learning.
Me: If you know how to call an API, you are good to go with GPT-3. That's like a wrapper and you wouldn’t need to have any knowledge of machine learning. Most of these are not as complex as you think.
Negative Nancy says: Generating images, and profile pictures take a lot of GPU power and this could be a blocker to attaining GPU computing power from cloud providers.
Me: Leverage tools like Replicate that handle the backend for you. You don’t have to acquire GPU computing power by yourself. Replicate will do that for you and runs your AI model on the cloud just as an API.Â
Opportunities in this space
Let’s see some of the opportunities in this space.Â
Generate stories using AI: Generating stories (to be precise, bedtime stories) is not easy. Coming up with a new story every time is not simple. But people need help to generate stories. GPT-3 can be leveraged here to generate stories. This can be done in two ways. One option would be to take a prompt and continue the story or pick a theme and generate a story with one-time input on the theme, characters, etc. For example, see BarryAI which can create incredible bedtime stories with the help of an AI-based storytelling assistant. Create a Micro SaaS that helps solve this problem and that can generate nice beautiful stories.
Generate questions from text using AI: Create a Micro SaaS product around knowledge testing or improvement. The product should be able to take a lot of text and generate questions based on the content. The tool should be also able to generate Flashcards so that it would be easy for the audience to go through Flashcards. This is a big space and can be niched down to domain-specific knowledge as well. But the base point remains the same - Read the content and auto-generate questions and flash cards. Generating quizzes and questions from a given text is not easy and often takes a lot of time. Create AI based Micro SaaS tool that can generate quizzes, and questions automatically based on the input text. This can be heavily used by a lot of organizations, colleges, schools, and other academic institutes. For inspiration, seeQuestGen which can generate quizzes from a given text in one click using AI. QuestGen is built with NoCode tools like Bubble and is currently at $1200 MRR.Â
Mac/Windows Apps: A Mac or Windows app that uses user’s own GPT-3 keys to generate text, help with formulas, summarizing text. This is against to the normal trend where the tools don’t ask for user’s GPT-3 keys. Creating a wrapper on top of existing GPT-3 functionality for Mac or Windows users will help them use and leverage GPT-3 based on their usage. Infact you can bring the entire functionality/options available in GPT-3 console to Mac/Windows through a native app with this wrapper without a need for the user to login to OpenAI/GPT-3 website.See Elephas that crossed $1K MRR and $10K in Life Time sales.
Building with GPT-3 Zapier Integration: Zapier launched Open-AI integration recently. This opened up to a lot of tools and ideas from builders. Here are a few - Automated Todo lists, GPT-3 powered Gmail, Automated content generation from Airtable and the list goes on. Zapier already made it super easy to integrate tasks from various apps and now with access to OpenAI/GPT-3, you can integrate AI into any workflow supported by Zapier.Â
Email replies automation -Â Automating email replies is one of the most popular niches in the AI space. Now with the advent of GPT-3, a niche product that acts as a Gmail add-on or a Chrome extension or Firefox Plugin that reads the email and auto-generates the reply using GPT-3.
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Technical chops
Learn technical pointers on how to build products around this niche.
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Marketing chops
Learn Marketing pointers on how to start marketing the products for this niche. This should give you a marketing head start.
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Cost Analysis for 100 customers
Learn how much it costs to build a product in this niche and cater to 100 customers.
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Pro Version
See all profitable players in this Micro SaaS niche (Pro version)
See another 100% ideas for Micro-SaaS tools around AI, GPT-3, Stable Diffusion, DreamBooth (Pro version)
See Technical chops for implementing for Micro-SaaS tools around AI, GPT-3, Stable Diffusion, DreamBooth (Pro version)
See Marketing chops for implementing for Micro-SaaS tools around AI, GPT-3, Stable Diffusion, DreamBooth (Pro version)
See Cost analysis for 100 users (Pro version)
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