Entrepreneur

0 readers

1 users here now

Rules

No Personal Attacks - criticism of ideas is allowed, attacking people is not.
Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.

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

communick@indiehackers.space

Is this a good plan to raise a seed round? (alien.top)

submitted 11 months ago by LavonnaTeti@alien.top to c/entrepreneur@indiehackers.space

2 comments fedilink hide all child comments

Here's my plan for my consumer based SaaS mobile app.

Iterate as much as possible until retention rate is high (40% 1st Week, 10% 24th Week)
Improve the premium version as much as possible to generate revenue
Advertise and bring in more and more users until we're generating 10K/Month revenue
Raise $150,000 Seed

Where we are right now

Been working on it for 2.5 years
Retention is mid, (35% 1st week, 5% 24th week)
Currently generating 1k/Month revenue (Premium version has a lot more potential, haven't focused on it much since I've been focusing all my effort on retention)

Side Notes:

This app solves a major pain point in my life and other peoples lives
It is in a saturated market, but from personal experience all the existing solutions are pretty bad
People are willing to pay money for this solution

That's my plan for my consumer-based SaaS mobile app.hat do you guys think?

top 2 comments

sorted by: hot top controversial new old

[–] bigmink88@alien.top 1 points 11 months ago (1 children)

Have you considered Angels? Use SAFEs, propel you down the line until the investment market improves.

[–] LavonnaTeti@alien.top 1 points 11 months ago

I never learn what SAFEs are exactly, do you think an investor would invest at our current progress? Don’t you need PMF?