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Ask Me Anything About SaaS ( I'm building my 7th )

NMdad

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Yes, you can bring it into a SaaS.

You would need to arrange to pull that data in, old and new, with an API or some agreement with the data providers.

That is unless, you plan to scrape the data without an API or agreement.

If you scrape the data, you should learn to do it wisely and within limits.
You might look at data visualization platforms like Microsoft PowerBI or Tableau.
 
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silent

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I do have a follow up question, is it easier to collect the data with an api/agreement or is it easier to just scrape it?
I believe dedicated API will always be better though there can be rare exceptions.
 

eliquid

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Ok I understand, I appreciate the response
I do have a follow up question, is it easier to collect the data with an api/agreement or is it easier to just scrape it?

It will be easier with an API, if the data providers will have it.

It will more than likely be structured and documented on how to use it, have resource limits, etc.

When you scrape, you never know when the data will change ( not the data you need, the data for the regex ), when they might block your bot/script, legal issues that could present itself, etc.
 

Vasili27

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It will be easier with an API, if the data providers will have it.

It will more than likely be structured and documented on how to use it, have resource limits, etc.

When you scrape, you never know when the data will change ( not the data you need, the data for the regex ), when they might block your bot/script, legal issues that could present itself, etc.
appreciate the feedback, I need to read more about this stuff as well
 

eliquid

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BFCM is coming up.

Have you hit outlets in your niche about getting on their BFCM deal list?

Talking about sites similar to Best Black Friday Deals for Marketers & Bloggers 2021 ( this would be marketing/seo deals ).

I'd hire someone to go through "BFCM SEO Deals" or "Black Friday {{ insert competitors name here }}" on Google and see who has done these lists in years prior ( 2018, 2019, 2020, etc ) and reach out and see if you get on their list.
 

Remiremi

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Hey @eliquid I'm currently reading through your awesome thread one post at a time.

I had an idea for a SaaS and started coding it and... It works.
I'm a couple of sprint away of launching but I have no idea about how terms and conditions work.

Do you have any recommendations for writing this page of the website?
 
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eliquid

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Hey @eliquid I'm currently reading through your awesome thread one post at a time.

I had an idea for a SaaS and started coding it and... It works.
I'm a couple of sprint away of launching but I have no idea about how terms and conditions work.

Do you have any recommendations for writing this page of the website?

This is something you are going to want to lawyer up on, since every SaaS will work differently.

You could copy a few ( not 1 ) of your competitors and see what put in theirs, then draft up your own based on those merged with an attorney.
 

WillHurtDontCare

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Hey @eliquid - any recommendations on where to go for UI / UX inspiration?

I'm working on a business intelligence / analytics SaaS and I could use ideas on how to make things simpler for my users.
 
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Hi @eliquid, thank you for the insights you are sharing.
What are your thoughts on SaaS affiliate programs? Do you have any tips for finding good affiliates?
 
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eliquid

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Hey all!

So for 2022, I am going to giving up a few things.. one of which is spending times on forums/social media.

This isn't for any bad reason, but to spend more time on other ventures and personal things.

I won't be updating this thread, so if you post questions and thoughts I didn't want you to think I ignored you if you are seeking an answer and I don't reply.
 

Remiremi

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Hey all!

So for 2022, I am going to giving up a few things.. one of which is spending times on forums/social media.

This isn't for any bad reason, but to spend more time on other ventures and personal things.

I won't be updating this thread, so if you post questions and thoughts I didn't want you to think I ignored you if you are seeking an answer and I don't reply.
Wish you the best! Thank you very much for sharing on this thread its a gold mine
 

jmsz

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Hey all!

So for 2022, I am going to giving up a few things.. one of which is spending times on forums/social media.

This isn't for any bad reason, but to spend more time on other ventures and personal things.

I won't be updating this thread, so if you post questions and thoughts I didn't want you to think I ignored you if you are seeking an answer and I don't reply.
Thank you very much for taking the time to share your wisdom. Wish you all the very best for 2022.
 
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Atkin

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Thank you for this fantastic thread!
I do have a question:

What are your biggest pain points when it comes to IT infrastructure?
I assume you start pretty lean, but how do you work once you’ve outgrown your initial setup?
 

WillHurtDontCare

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Sometimes just showing up, even unprepared is enough to win most of your battles.

Winner's mentality - you can always figure things out.
 

eliquid

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Any new people diving into SaaS mid-year for 2022?
 
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Chx

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Any new people diving into SaaS mid-year for 2022?

Yup - recently finished the MVP of my email finder SaaS and am currently hustling to get my first few customers.

I've got a few people signed up and on a free trial, but none have converted to the paid plans yet.
 

Denim Chicken

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Any new people diving into SaaS mid-year for 2022?
The last time I visited this forum I was launching an Amazon product business. It was somewhat of a dud but a great learning experience. I would have done a saas but I didn't know how to code and didn't have the capital or know how to hire a good dev.

Well fast forward like 5 years I'm a software engineer now having taught myself to program for a few years and I'm looking to code up a MVP and launch a micro saas on the side of work and see how it works out.

The biggest pain point currently for me is identifying a need that also fits the scale I have in mind. I don't have any desire to scale or get VC funding, I'd be happy with a micro niche app that generates 5 figures easy/mo with very little upkeep from loyal customers. Currently looking at the real estate property management sector with a leaning towards a freemium model.
 
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Andy Black

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@eliquid

Nothing, I prefer remote work. A lot of people in the tech startup crowd are always telling me I need to have everyone in the same place, be in a tech hub for connections, talent, resources, mentors, go to meetups, yada yada..

I don't like the startup crowd and think it's mostly fluff. I even hate the word startup lol. I was just wondering if others felt the same way, or if it's just me and I'm missing something...
I hate the word startup too.
 

eliquid

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Wanted to share, going to be starting on a new SaaS... lol

Maybe we should bump this to "building my 8th"

How is everyone else getting along?
 

AyoEpic

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Any new people diving into SaaS mid-year for 2022?
Me!

Question about how you decide to create your idea. Do you test the market first for validation? If so how? if not, how do you approach creating an idea without validation?
 
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iivalky

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Hello everyone.

A lot of you know me for my digital marketing Gold Thread here on the FLF ( see sig ), as well as other posts in the forum.

What you might not know is that I've successfully built 6 profitable SaaS programs either solely by myself, or with a single partner ( and with no other employees other than VA's ), and that I am working on building my 7th SaaS

I've learned a few things in SaaS over the last 7 years that span:
  • Handling competitors
  • Reducing churn
  • Fraud reduction
  • Technology for SaaS needs
  • Big Data ( billions of new data points daily over years )
  • Increasing LTV
  • APIs
  • Pricing
  • Onboarding
  • Project management
  • Marketing
  • Customer service
  • Partnerships
  • Customer demos/profiles, MVPs, UVP's, ahHa moments, etc
  • many many more things

I've focused all my SaaS programs in the digital marketing space, but I have some ideas for new SaaS programs expanding outside of that for the future.

I can't answer questions related to:
  • Legal - please seek an attorney
  • Specific finance questions about my current or past SaaS programs - I'm not going to divulge other than generalities to the public. I can verify for a mod though if needed.
  • Info on verticals outside of digital marketing - meaning if you have a SaaS for doctors and you ask me a specific medical question, I won't know it if it pertains to doctors or medical
  • LLC vs Scorp Vs etc - This is legal
  • How long is a piece of string type questions

And before anyone asks.. NO, not all 6 SaaS are currently running right now. I closed down the first 5 over the years at different times due to either partner problems or interest died off for me and I rolled into the next SaaS combining ideas to make something new.

For clarification, I am running 1 active SaaS right now and building another ( the 7th ) that is not public atm since it is not finished.

Ask away!


P.S. - Listen, I'm a different type of person. I have very unique views that don't always fit the norm you might have heard elsewhere. What I tell you is what has worked for me and the way I see things from my own personal experience. There are many ways to skin a cat. If you don't agree, that's cool but always think things over for yourself and what will work for you.

.
How did you start and expand your first SaaS business? What did you do to raise money to fund it at the beginning and how did profit afterwards?
 

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What opportunities around machine learning do you think have potential to turn into a SaaS business?

I'm graduating next year with a computer science degree focusing on machine learning, and am starting to think about ideas myself, so I'm curious what your thoughts are.
 

AyoEpic

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And I'm currently learning Saas solutions. I've already understood the main difference multi tenant vs single tenant, but I can't decide which solution is better for business? What are the benefits of these Saas solutions? Also, if you had a product with hundreds of tenants, would you automate single-tenant deployments using K8s or would you invest in creating a multi-tenant product?
Interesting! I’d like to learn about that too. Any good resources you liked that you don’t mind sharing?
 
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Jcoil

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And I'm currently learning Saas solutions. I've already understood the main difference multi tenant vs single tenant, but I can't decide which solution is better for business? What are the benefits of these Saas solutions? Also, if you had a product with hundreds of tenants, would you automate single-tenant deployments using K8s or would you invest in creating a multi-tenant product?
You should make sure you understand the pros and cons, as well as any potential pitfalls/mistakes to avoid, of single vs multi tenant very well before making a decision as it may be costly later on. I'll give an example.

I was working at a SaaS company that operated using a multi tenant model. We were growing, and landed some big customers. Those big customers had needs much greater than any of our other customers, and ended up causing big performance issues whenever they tried to use our services (think generating a report on 100 clients, vs generating a report on 100,000 clients). Eventually, we had to migrate them onto their own server, which came at an increased cost to them, which they weren't too pleased with, and it was a huge pain as a developer to migrate them.
 

eliquid

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Me!

Question about how you decide to create your idea. Do you test the market first for validation? If so how? if not, how do you approach creating an idea without validation?
My simple answer is

I am the market.

Scratching my own itch and being an authority in the market means that if I don't like, no one else will likely like it too.
 

eliquid

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How did you start and expand your first SaaS business? What did you do to raise money to fund it at the beginning and how did profit afterwards?
You don't have to raise money.

I started by learning prior how to design, code, and market.. as a web designer/programmer/digital marketer.

I expanded it, using what I know and building for myself since I was the market.

No funding was needed.

Why bring on more people I have to be accountable to? Who don't know the market?
 
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eliquid

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What opportunities around machine learning do you think have potential to turn into a SaaS business?

I'm graduating next year with a computer science degree focusing on machine learning, and am starting to think about ideas myself, so I'm curious what your thoughts are.
Unlimited.

Anything that is a SaaS now, could benefit from Machine Learning.

Which means, it's limitless
 

eliquid

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And I'm currently learning Saas solutions. I've already understood the main difference multi tenant vs single tenant, but I can't decide which solution is better for business? What are the benefits of these Saas solutions? Also, if you had a product with hundreds of tenants, would you automate single-tenant deployments using K8s or would you invest in creating a multi-tenant product?
This is where being an authority in your niche/topic would benefit you.

Both have advantages and are "better for business", but it depends what business you are in.

What does being an authority in your topic tell you for your specific application?
 

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