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Making your first dollar from a SaaS project

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Re: Making your first dollar from a SaaS project

#41
post #13

Earlier quoted context omitted.

Roaring racers sounds like a brilliant idea! Where can I play it??

It came out maybe a year after the App Store launched, and the 100 copies I sold never justified maintaining it. It's long gone. Only way to play it would be an old iPhone that still has it installed and I don't even have one of those.

Good idea but I for one am glad that roaring racers did not become pokemon go. Kids are loud enough.

Re: Making your first dollar from a SaaS project

#42
post #22

In 1998, before people had much of clue about what represents success and how big things can get given time, I built a software product and posted it to the net. Within a week or so there had been a handful of sales at $100 each. That looked like failure to me at the time - "that's a trickle of money - extrapolating maybe $25,000 per year? Not enough to pay my bills. I need to get a job". Today that sort of start loo…

Man that last paragraph is the kind of success to keep in mind. I have loads of regrets on businesses and opportunities missed since 98 as well, but a huge number of them would not have lead to my family today.

A more spiritual approach to the decades is how I am hoping to live in the future - that and still plenty of coding.

Re: Making your first dollar from a SaaS project

#43
post #39
post #4

I'm not sure why this is on the front page. I mean, $1 that you just made yesterday doesn't really indicate product/market fit, nor seem very noteworthy in general. If anything, it seems more like a midway point in the journey of what you might expect to get there. You might have to pivot several times after realizing traction is not stable or perhaps not scalable vis a vis marketing efforts, as has been my experienc…

There are a lot, lot, LOT more people trying to get to dollar #1 than any other phase of the process. It feels good to read about someone else going through the same struggles as you, especially if they're willing to share behind-the-scenes information (i.e. how many hours they worked). Is this enough data to produce a valid scientific experiment? No, but that's a high bar that would disqualify pretty much every conv…

Everyone keeps repeating that it's really hard to get to the first dollar and celebrating that as a common struggle. I rarely see SaaS products charging a dollar. And never for it to be a $1 one-time sale. That's why this makes no sense to me.

Re: Making your first dollar from a SaaS project

#44
post #43
post #39

Earlier quoted context omitted.

There are a lot, lot, LOT more people trying to get to dollar #1 than any other phase of the process. It feels good to read about someone else going through the same struggles as you, especially if they're willing to share behind-the-scenes information (i.e. how many hours they worked). Is this enough data to produce a valid scientific experiment? No, but that's a high bar that would disqualify pretty much every conv…

Everyone keeps repeating that it's really hard to get to the first dollar and celebrating that as a common struggle. I rarely see SaaS products charging a dollar. And never for it to be a $1 one-time sale. That's why this makes no sense to me.

The first dollar is metaphorical. Substitute first sale/income if that makes it easier for you to think about. (As an aside, I've seen many businesses frame and display a single dollar representing their first sale. http://framebiz.com/index.php?products_id=187)

Re: Making your first dollar from a SaaS project

#45
post #15
post #11

Earlier quoted context omitted.

If I understand you correctly: You whip up a bootstrap page that describes the product with a 'beta sign-up & pay' button, and if enough people sign up and pay, you build it? - What sort of demo do you have on the website? Or is it just a basic description of the product and a list of features? - Does this mean you get payment processing setup before development every time? - How do you manage returning money if you…

I usually just do believable screenshots and a call to action like, "Request a trial" or "Buy now" it depends on what it's for. I never take any money I just log the actions people took on the site. If it's a buy button, then you can just say, "Thanks for your interest. We are launching soon."

If I clicked on that button and received that response, everything I could find connected with you and your domain would go on my blacklists. Misleading people is a poor way to build trust.

Re: Making your first dollar from a SaaS project

#46
post #43
post #39

Earlier quoted context omitted.

There are a lot, lot, LOT more people trying to get to dollar #1 than any other phase of the process. It feels good to read about someone else going through the same struggles as you, especially if they're willing to share behind-the-scenes information (i.e. how many hours they worked). Is this enough data to produce a valid scientific experiment? No, but that's a high bar that would disqualify pretty much every conv…

Everyone keeps repeating that it's really hard to get to the first dollar and celebrating that as a common struggle. I rarely see SaaS products charging a dollar. And never for it to be a $1 one-time sale. That's why this makes no sense to me.

Hmm, it's not about the amount being literally $1 though. It's about going from $0 to >$0. There are a ridiculous number of people who are stuck in various early phases, trying to get over humps, and you can reach a lot of them by answering the questions they have:

- How do I come up with a decent idea? What should I work on?

- Where can I get the motivation to even start thinking of ideas? Are there inspirational stories of people like me doing this stuff?

- How do I validate my idea to ensure it's good?

- Do I need to learn how to code? If so, how can I do that?

- I have a full-time job, a family, etc. Is it possible for me to work around this? What are some tips?

- I keep starting but never finishing. What are other people doing that allow them to get to the finish line?

- Nobody is using what I've built. How to I get my first customers?

The list goes on and on. There are hundreds of questions like this, and millions of people asking them, and they're all pre-revenue. They come before the metaphorical first dollar.

Re: Making your first dollar from a SaaS project

#47
post #44
post #43

Earlier quoted context omitted.

Everyone keeps repeating that it's really hard to get to the first dollar and celebrating that as a common struggle. I rarely see SaaS products charging a dollar. And never for it to be a $1 one-time sale. That's why this makes no sense to me.

The first dollar is metaphorical. Substitute first sale/income if that makes it easier for you to think about. (As an aside, I've seen many businesses frame and display a single dollar representing their first sale. http://framebiz.com/index.php?products_id=187 )

Yes, I understand that it should be metaphorical but in this case it's quite literal. This story demonstrates more of a user acquisition exercise and dresses it up as a SaaS business exercise. You will have different problems charging $1 once versus $10 per month. This story is really not about SaaS products.

Re: Making your first dollar from a SaaS project

#48
Separate from finding someone who is willing to make a purchase, getting the technical bits in place in order to properly accept a purchase can be challenging, too. It's not just about being able to charge a credit card.

In our case we're an infrastructure service that charges customers based on their usage level. This required collecting the right metrics, consolidating them durably, making the metrics visual somewhere so customers understand how they are being charged, implementing notions of billing cycles, syncing with the payment provider (in our case Stripe), UI elements to indicate if the account is paid or not, ability to cancel paid service, etc.

All in all it took us a good two months from when we wanted to charge people to when we could actually charge people. Of course every service will have different technical needs. Congrats on the first buck. :)

Re: Making your first dollar from a SaaS project

#49
post #22

In 1998, before people had much of clue about what represents success and how big things can get given time, I built a software product and posted it to the net. Within a week or so there had been a handful of sales at $100 each. That looked like failure to me at the time - "that's a trickle of money - extrapolating maybe $25,000 per year? Not enough to pay my bills. I need to get a job". Today that sort of start loo…

The internet is becoming a bigger and bigger playground. Even getting that first bit of attention is extremely meaningful now. There are so many different services and other attention-suckers out there at this point that everything really does matter. What type of software product did you make back then that warranted $100 sales?

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