I made $2m flipping a SaaS startup in 18 months following these 4 steps.
Read how I did it to make your first million.
The 4 steps in my 12-month roadmap
- How to buy a StartUp
- How to retain more users (Churn)
- How to earn more per user (LTV)
- How to lower customer acquisition cost (CAC)
- How to get more users (Growth)
Step 1 – The best place to buy a StartUp
https://indiemaker.co
https://microacquire.com
Step 2 – Retain more users
Your product is CRITICAL to some people and just ‘kinda useful’ to others.
Your job is to find users who DEPEND on your SaaS and hyper-focus on those customers.
How do you do this?
A. Ask your most obsessed users why they use your product
These customers likely drive 80% of your revenue
They will tell you WHY your software has product-market fit
B. Tailor your message to relate to this customer base
From the first email to the final checkout, everything needs to speak to THEIR problem, not your features.
C. Refocus your product roadmap to fulfill the needs of the obsessed users.
Develop the product specifically for this group and tighten the product-market
To fix churn, don’t focus on why users are leaving.
Instead,
1 – Focus on why some users are staying,
2 – Tailor your marketing to attract those same types of users
3 – Dedicate the product roadmap to their needs, and make them even more hooked.
Step 3 – Earn more Money per user
A. Raise Your Price
Most entrepreneurs are undercharging.
and higher-paying users have higher retention!
Raising your prices will increase your revenue by 20-50% overnight.
B. Pay As Your Grow pricing
More features, higher price
More users, higher prices
More usage, higher price (ex: Notion)
If done correctly, your business will grow 50% even if you don’t add any new users.
Step 4 – Lower Customer Acquisition Costs
Users that say ‘I needed this’ take little convincing to pay
Users that say “this looks cool” need a lot more convincing.
These users churn even faster.
Most of your acquisition cost is wasted on convincing the ‘maybe’ users.
Reverse This:
Find out which channel the obsessed users are coming from.
- Maybe it’s a Facebook community
- Maybe it’s one Subreddit, or Discord.
TRIPLE DOWN on the 1-2 channels that bring the obsessed users,
Ignore the other channels
The Right Users > Number of Users
Step 5 – Get More Users
Use SEO (6+ months)
Most of your competitors don’t do SEO because it’s slow and that’s exactly why it will work for you.
Find keywords and search queries that are relevant to your obsessed users and rank on them.
Use ahrefs to find a search query that fits this criteria
1 – Query is hyper-relevant to the problem your SaaS fixes
2 – No big website ranks for this query
3 – Has a search volume of >50K
With as little as 15-20 backlinks, you could be the top-ranked site for a search query and get 50K people visiting your site yearly.
Once you rank for one query, find the next on Ahrefs, build links and repeat.
As you rank in 1-10 for more queries, get more visits, and build more links, SEO gets PROGRESSIVELY EASIER.
I like SEO because most founders don’t have the patience to let SEO work.
These are 5 principles to increase the value of your SaaS startup by 10x+.
