Issue#80: Building $1K - $10K MRR Micro SaaS products around SaaS Ecosystem - Part 3
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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.)
Conch, an AI writing assistant, hits $50k and 100k users in 2 weeks**.**
Nico sold MakeLogo.ai for $65,000 after launching the project 3 months ago .with 0 budget and less than 600 followers.
Rushab got 500 signups and 5 paying users in 7 days for VisualizeAI.
Bullet.so - a notion-based website builder - reaches $12.5k in sales, within the first month of its launch.
CoverLetterGPT by Vince Canger hits 200+ users in just 5 days with payments on a tipping basis.
PhotoAI by Pieter Levels reached $18,000+ MRR with 587 customers after 4 weeks of launch.
Katt hits $6700 in 6 Months from No-Code Exits - a newsletter about stories from profitable or acquired products made with No-Code. She shares her insights in this interview with FounderBeats.
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 are 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, how the current players are doing, and ends with a cost analysis to understand the overall cost for 100 users.
SaaS has so many things attached to it. Sometimes, most founders think building a SaaS product is the only way to start making revenue but SaaS comes with a bigger ecosystem. Let’s see what models around this ecosystem is making considerable revenue or getting traction and look at what models can be built on top of these insights.
This is Part-3 of this topic/niche.
Let’s see some of the products around this ecosystem.
GrowthMentor: Have 1-on-1 conversations about growth, marketing, and everything in between with the world's top 3% of startup and marketing mentors. Making $5K as of March 2020. Launched in August 2017.
SaaSMag: Premier magazine for news, insights, and expert commentary in the SaaS industry.
GummySearch: Reddit audience research at fingertips. Quickly discover customer's pain points, what solutions they need, and what they are eager to pay for.
GetRhys: Your on-demand SaaS marketing consultant. An on-demand, skilled, and experienced SaaS marketing consultant ready to solve your critical marketing bottlenecks for just $395/pm. Making $6K MRR with on-demand marketing consulting.
PHLaunchChecklist: All-in-one collection of planning checklists, tips, guides, resources, tools and lifetime access to Product Hunt experts community. Available for Airtable, Google Sheets, and Notion. Profitable product with decent number of sales.
FounderCafe: Co-work with founders from Stanford, YC, Harvard, & more.
Microns: Microns.io is a marketplace to buy the best micro-startups without commission.
Side Project Led Growth: Side Product Led Growth helps build and launch tools, apps or services around the main SaaS product. These small products in turn help drive traffic and paying customers to the main product.
NessLabs: Nesslabs helps to make the most of your mind by building a lab for your mind with neuroscience-based content and conversations. 30K member community around mental health for founders.
Ebook around Startups, Bootstrapping, Entrepreneurship: Arvid Khal created ebooks around startups, bootstrapping, and entrepreneurship and made thousands of dollars in sales. But the best part is he writes his books in public sharing his thoughts/insights on Twitter, Podcasts, and his newsletters as well. Now he is writing a book about BuildingInPublic by writing it in public.
Product - Market Fit Ebook: Nico from Failory created an ebook around Product-Market Fit. The power of having an audience - Nico’s product Failory has 50K visits per month serving content around startups.
🔒 👉 [In Pro] See niche community crossed $100K ARR in less than a year.
🔒 👉 [In Pro] See who crossed $1K MRR in less than a year.
🔒 👉 [In Pro] See who made $50K with LTDs (Life Time Deals) from audience research.
🔒 👉 [In Pro] See who made $1000 in pre-sales even before releasing the ebook
Negative Nancy says - Founders don’t need mentors.
Me - Mentors unblock founders and declutter their thoughts. Mentorship adds a lot of value to anyone's thoughts and is one of the trending models currently. For example, MentorCrusie helps hundreds of people to get mentors in their niche. Mentors are more than just friends and advisers. They bring their vast experience to the table and helps founder avoid repetitive mistakes that had happened to them in their business ventures. Mentors will be able to point you in the right direction and help speed up your implementation process. Almost every founder gets stuck on a certain stage of their startup. It could be the ramp-up, growth stage, or even graduation. For these founders, it's tempting to go in the same direction and make the same mistakes over and over again. But with great mentors, there's no need to fall into the trap of repeating old mistakes. But be careful while picking your mentors.
Deep-dive & Some niches
Let’s see some of the niches in this space.
SaaS Coaching: Building a SaaS alone could be challenging and that is where a little bit of mentorship and coaching takes a long way. There are many angles to SaaS building whether you are using marketing or sales to build revenue for the SaaS. Pick a skill that you are strong at and show how you can coach others at building profitable businesses. There are SaaS coaching camps and cohorts to help with sales/marketing etc. Not so strong in sales/marketing? It’s okay if you are strong in tech - show people how to build tech products and coach them in that way. There are many angles to building a SaaS. Marketing, sales, product – there are many ways of building successful businesses in this arena. But one challenge for people starting out on their own can be that they don't know who to turn to for help, and who has expertise in what aspect of growing a business. For inspiration, see GrowthLab models that help companies get 10 paying customers or reach $1K MRR, etc.
Tools to support the BuildInPublic movement: Start with people who are building in public and invite them for an interview. Once you start doing interviews, start to repurpose the content and post to various forums like Twitter, Reddit, IndieHackers, etc. Build an email list this way and create a niche around this. You can also look for #buildinpublic Hashtags on Twitter and reach out to these folks. Create a tool that helps people document their daily journey, and share stats easily across various platforms. BuildInPublic is growing at a rapid pace.
Side-Project Led Growth for SaaS founders: You must have heard of several growth hacking strategies like sales-led growth, product-led growth, marketing-led growth, etc. Now, the concept of Side-Project led growth is trending among the new SaaS founders. The concept is simple - Create a small side project and launch it everywhere with a few SEO efforts with the goal that this side project will bring in more sales for the main SaaS product. Many founders don’t have enough time to execute these plans. Create a small studio where you help founders with these side-projects. You can either choose to build these with code or no code based on your expertise. You will help them from end to end - Creating the side-project, fine-tuning it, helping with the launch, etc. For inspiration, see Side Project Led Growth which is successfully executing Side projects for a few SaaS founders. It’s a good model where you can charge a few thousand of dollars for every Side project. You can also get on calls with founders to brainstorm what ideas can be built as side projects.
Founder Podcasts: A booming industry, podcasts have become a popular way to produce and distribute audio content online. Podcasts are seen as an excellent platform for entrepreneurs to share their stories and inspire others around the world. There is a lot of demand for Podcasts. Start a podcast where you interview and publish the founder’s growth stories. Podcasts have become extremely popular because of their ability to deliver useful information, entertainment, or education. See below for how the trend of podcasts has been growing recently. Niche down as much as you can around SaaS and get the founders on Podcasts. For example, see InnovatorsCanLaugh, the podcast that interviews fresh faces of European entrepreneurship and innovation.
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Learn technical pointers on how to build products around this niche.
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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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