Build Your SaaS – bootstrap in 2020

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Summary

What happens when your SaaS grows 300% over the quarantine?

Show Notes

This week on the program, Justin and Jon talk about:
  • A friend, whose SaaS has grown 300% since the beginning of the quarantine. They just hit $6k in MRR.
  • At that stage, he's in the "almost but not yet."
  • You're either:
    • Brainstorming how to make money faster
    • Brainstorming how to work less
  • Different stages:
    • Pre-launch stage: you're working on your product on the side. It's fun! There's nothing stealing your time and attention because you don't have customers yet.
    • The beta stage: still pretty fun! You have a few customers who are using your product, and maybe paying you money.
    • The "launched" stage: now, you have way more users. Now you're doing way more customer support, responding to feature requests.
  • How much did we work when we were building Transistor?
    • Jon figures we spent 45 to 60 hours a week (each).
  • Jason Calacanis’ tweet: "It takes 100 hours per week to build a business!"
  • “Good businesses have margin."
  • Josh Wood: "At Honeybadger, we work 30 hours per week."
  • Margin gives you the opportunity, as a founder, to live beyond your keyboard. To engage with the world.
  • Sandy Hudson (Sandra & Nora podcast): "The quarantine gave people the time and space to wrestle with the current moment."
  • The Dept of Veteran Affairs
  • "As your little baby Rails app grows up, you can't just run everything on the same service."
  • "The whole internet is just patchwork of pipes and duct tape." 

You can reply to this podcast here:

★ Bootstrapper shout-out of the week:

  • LessAccounting
  • https://www.lessaccounting.com/
  • Cloud base accounting software and services for non-accountants. This used to be owned by Allan Branch (Paul Kogan owns it now). It’s specifically designed for small businesses with 1-25 employees and contractors

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What is Build Your SaaS – bootstrap in 2020?

Can you bootstrap a profitable startup in 2020? Thousands of entrepreneurs, developers, designers, and product people have tried to launch their own web apps. But with so many venture-backed startups now, is it still possible? Follow Jon and Justin as they build their podcasting SaaS, Transistor.fm.