this post was submitted on 20 Nov 2023
1 points (100.0% liked)

Entrepreneur

0 readers
1 users here now

Rules

Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.

founded 1 year ago
MODERATORS
 

In 7 months I’ve hit $25k MRR on my micro-SaaS but it doesn’t feel like an achievement.

Users sign up, they churn, the product works fine, nothing is on fire at the moment. It’s eerily quiet.

I feel like that Spongebob meme where plankton says “I don’t know. Never thought I’d get this far”.

What do I do?

top 33 comments
sorted by: hot top controversial new old

Seems like actively seeking out user feedback and iterating new features would be critical. Call them up and ask for feedback if they’re not responding to emails. If they’re happy, get testimonials and referrals. Post them to your website. Keep pushing, set a goal of 100k MRR. Way to go!

[–] Denrak92@alien.top 1 points 1 year ago

If you want someone really motivated and on board to pull you trough you could hire, but also think of a earn in type of deal. Let them in on the ownership and people will get a different type of motivation, and with an earn in you protect yourself from every rando that wants a piece for free :)

[–] iamzamek@alien.top 1 points 1 year ago

What's this product?

[–] XIVMagnus@alien.top 1 points 1 year ago

What you’re feeling is probably tied to an unspoken emotion. I say take some time to self reflect and just really ground yourself to your unique situation.

Then come back and start iterating. If your churn rate is an issue, that means LTV is down and your product has a specific life cycle.

If you’d like some help on that. Feel free to reach out via DM.

[–] NexusRun-Saas@alien.top 1 points 1 year ago

You should be really happy when many people like me struggling to get few users on our products. IMHO, you are in the step where you should hire someone to do what you are doing now so that you could focus on what's interesting to you.

[–] winterborn@alien.top 1 points 1 year ago

What is your SaaS?

[–] Prior_Funny@alien.top 1 points 1 year ago

Can you DM me some advice then?

[–] frtbkr@alien.top 1 points 1 year ago

I am happy for you. It is what it is, if you feel nothing it is OK. No judgment. You are not obliged to feel anything. Forget what the society told you.

Talk to 5+ customers per week.

  • Those that churn.
  • Those that stay.
  • Serve the customer's needs.
  • Serving people gives you purpose and will give you direction.

Or sell it and go in a different direction.

What were the 5 key things that grew you to $25K?

[–] RussellFighter@alien.top 1 points 1 year ago (1 children)

Lots of interesting conversations going on in my DMs… This Reddit community is a lot more engaged and fun than I remember

[–] dennis77@alien.top 1 points 1 year ago

I'm a revops/marketing person who turns 25k MRR in 250k MRR. If you're interested in selling and/or looking for a partner or just need advice on scaling, my DMs are open

[–] vin17285@alien.top 1 points 1 year ago

I am stupid what is 25k MRR

[–] nrice1995@alien.top 1 points 1 year ago

Usually when I reach this state of mind, I put it down for a while and leave it alone because whenever I decide to screw with it, that is usually when I make a mistake so if I feel like I am stuck or it is too quiet, that is when I leave alone

[–] Different-Moose8457@alien.top 1 points 1 year ago

Product leader here - set a goal of 50k mrr - talk to the people that churn — make small focussed changes.

Do not try to make radical improvements

[–] KBO_Mateo@alien.top 1 points 1 year ago

Definitely try to define your goals and align with your other stakeholders as much as possible.

Are you trying to grow as much as possible?

Are you shifting out of growth mode and trying to maximize profitability?

Are you maximizing profitability maybe to sell the business for one big payday in the next few years.

Are you trying to reduce your time required in the business to focus on other ventures by making key hires, getting good standardized processes, etc?

What do you want out of life personally?

Tough questions I know. Start journaling and make notes of things that make you happy or get you excited about the future. Likewise, make notes of things that make you miserable or indifferent today or in the future.

Good luck!

[–] No_Bus_9772@alien.top 1 points 1 year ago (1 children)

One of the rules of the land is when you make it… help others

[–] RussellFighter@alien.top 1 points 1 year ago

25k MRR isn’t “making it”

[–] Troostboost@alien.top 1 points 1 year ago

Make a goal to get to $500k MRR and sell the business, retire.

[–] SecretNerdyMan@alien.top 1 points 1 year ago

If you’re also growing at least 3x and the market size is big enough then you could probably raise a seed round at that revenue level.

But in general, try to find a way to use the funds hire people to do the repetitive things so you have more time to figure out how to turn that into $100k MRR

[–] fujsrincskncfv@alien.top 1 points 1 year ago

Danny Postma says to focus on sales once you have something that’s working

[–] zabobafuf@alien.top 1 points 1 year ago

Reach out if you are thinking about selling the site. I may be interested, depending on the niche (& price), but regardless I can get you in contact with a few highly reputable brokers.

[–] founderscurve@alien.top 1 points 1 year ago

“They churn” - absolutely fix that…. Churn is the silent killer.

Everything else others have mentioned more eloquently

Focus on churn, focus on increasing LTV (upsell/ cross sell)

Sit with someone who can help you calculate your valuation, seeing how much what you’ve built might be worth might give you some fire

[–] Bea-Billionaire@alien.top 1 points 1 year ago

Sell it with a broker.

[–] WarlaxZ@alien.top 1 points 1 year ago (1 children)

Hey dude, I've got a product that's got the potential to do amazing, product is made, I've already got customers, mind if I pick your brains about scaling?

[–] RussellFighter@alien.top 1 points 1 year ago

You can DM me

[–] The_Master_9@alien.top 1 points 1 year ago

In what industry is you SaaS? Looks like you're in an interesting position right now. Try and hire someone to help you do the work you feel that eats your energy and takes your attention away from important things to grow the business. It happens that sometimes when doing a lot of mundane tasks it drains you and feel like things are not moving. In your case you already have the PMF and the product is bringing in decent revenue already, continue to scale it. Think about what things would you like to continue to do and the one's you don't like but are necessary for the business and hire a person for that.

[–] intronotrequired@alien.top 1 points 1 year ago

It seems like you're missing purpose

[–] HeronAI_com@alien.top 1 points 1 year ago

What is your SaaS?

[–] Simplilearn_Commune@alien.top 1 points 1 year ago

Hi u/RussellFighter, first of all, congratulations! It is not an everyday feat to achieve $25k MRR. Moreover, a budding entrepreneur must not just look at his business from a monetary point of view. The experience and insights you will gain from building something cannot be measured in currency notes, and these gains won't leave you whether or not you are still running this business 5 years down the lane. At least, that's what I think. I am an aspiring entrepreneur myself and am working on building a business with my friend at the moment, albeit not a SaaS one. So, my views will be pretty generic and largely second-hand knowledge, but I would like to share my two cents if it is of any help.

  1. From what I have read about entrepreneurs, even Gates, Zuckerberg, and Jobs all started out their entrepreneurial journeys as hobbies. So keep doing what piques your interest regardless of whether it is paying you or not. However, don't make the mistake of waiting till someone else steals your idea and monetizes it either.

  2. Figure out a way or find a mentor or expert with enough insight to guide you on this (could be your first angel investor or maybe a kid fresh out of school. If the latter, don't hesitate to hire just because he or she is smarter than you.)

  3. If you can't see a long-term vision right away, plan just the next one step and take it. Do not get stagnant till you stop enjoying the process yourself.

  4. Get feedback from your existing users, connect with them via whatever channels they are comfortable with, and get an idea of how you can improve because there is always room for improvement. You may discover a profitable business idea from customer feedback.

  5. Collect and analyze a legally allowed amount of data about your user base. You can get an idea of what group of people and which industry requires your product the most. You may customize your product or build a replica that better caters to this group or industry.

  6. Build a community around your product on various platforms and engage with them.

  7. Take a step back from what you are doing for a brief while so that you may see the bigger picture.

  8. Take calculated risks based on how much time and money you are willing to forfeit.

  9. And lastly, don't forget to pat yourself on the back for your small gains and keep going as long as it makes you happy and adds meaning to your life.

All the very best.

[–] travelguy23@alien.top 1 points 1 year ago

Sell it. Try something new. That's life-changing money for most people.

[–] life-beneath-a-rock@alien.top 1 points 1 year ago

Curious about how you came up with your micro SAAS. What was the research process? Was it a personal problem or did you go on something like Product Hunt?

[–] MrHaouari@alien.top 1 points 1 year ago

What mean micro-SaaS