My SaaS Made $12.5K MRR in 1 Month. Here’s what I learned.
I launched 4 SaaS projects in 2020.
3 of them failed.
My 4th, ContactEcom was a complete hit. A fairly simple idea: High quality leads for e-commerce stores.
After many lessons along the way, I found the magic formula for success
Help people make more money
This is the golden niche no one talks about.
Your SaaS should help people make more money.
There are shitty courses online that help people get into dropshipping or e-commerce. These courses make millions.
Why are they so successful?
They help people make more money
If you help people make more money, your churn will be lower.
You can also charge more.
Don’t reinvent the wheel
I used a SaaS Boilerplate template called ‘SaaSPegasus’ to save hundreds of hours. It allowed me to focus on what really mattered, wasting time on the the logic for password resets.
Lessons along the way
Never listen to tech dorks
Along with poor social skills, tech dorks have no business sense.
No one I worked with in Silicon Valley would have thought ContactEcom was a good idea.
wHy WouLD SoMEonE pAy $145 fOr 500 EmAiLS???
— Some dork that pays $3.99 for feet pics on OnlyFans.
If they go on Reddit or Hacker News you should disregard their opinions entirely. Just because you can make something doesn’t mean you can sell it.
Traffic is key
Making online is a simple equation:
Offer/Value + Traffic = $$$
It doesn’t matter if you have a cool idea if no one knows about it. This is the one thing people forget.
‘Build it and they will come’ — A Liar
The technical part of making a SaaS is the easiest part. The hard part is traffic and growth hacking.
Even with 8 years in Silicon Valley, I’ve never heard this talked about once, even though it’s the secret to Silicon Valley’s success.
30% of all VC investments goes to Facebook Ads, Google Ads and AWS
The best books I read in 2020 that helped me along the way are:
Traffic Secrets — Russel Brunson
Hacking Growth — Sean Ellis
1M Followers: Get A Massive Social Following in 30 Days — Brendan Kane
Whether it’s organic traffic from your social media following, SEO, FB Ads, etc. You NEED traffic to water your money tree.
Do what you do best, delegate the rest
If you’re technical, find a marketer
If you’re a marketer, find a technical partner
Split the equity. You’ll get much farther together than alone.
Don’t wear all hats.
SaaS Addiction
SaaS addiction is real.
Digital Real Estate gives you equity and cashflow.
It’s also scalable. Everyone I know, including myself doubled and even tripled their income in 2020. While the rest of the world is in a pandemic, we’re in a bandemic.
While we’re still under lockdown, I’ve decided to start a SaaS empire. As of this writing I have 4 active projects in my pipeline and a dev team.
In the meantime I have friends building a traffic empire on Youtube, IG, FB and TikTok.
SaaS is an extremely untapped market because most people in Silicon Valley are busy over-engineering things people don’t care about.
A few years ago I realized my skills were too one-sided. I was too technical, I had one missing piece. So I spent the last 2 years in internet marketing and entrepreneurship communities.
I’d like to thank my tech sales friends, and Money Twitter for showing me how sales and internet marketing is done. I wouldn’t be where I am today without you.
