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EXECUTION [Progress] Creating a SaaS product

DGS

New Contributor
Mar 16, 2018
6
3
13
Brazil
Hello,

I’ve read The Millionaire Fastlane, and I think it’s an amazing book. It sums up a lot of my insights about life, work and time and also offered me a lot of new insights. It is very hard to find articles or books where all the information about wealth mindset is well organized without any demagogy or shady selling tactics.

I’ve always thought that the path to wealth was also the path of entrepreneurship, but it’s really hard to find like-minded people to exchange experiences, so this forum is a great way to do that.

I’m creating a SaaS product right now. I can’t go in into much details until it’s in the market, but still, I’d like to share my progress, maybe that can be of some help to the community.

# Log 1:

- The Lean Startup:

When I started I thought I had no chance in succeeding, and that lead me feeling hopeless but then I found a book called “The Lean Startup”, which fixed a new mindset in my head.
But I was still lacking a way to organize and quantify the metrics, and how to manage a startup following the lean principles… so I’m reading this book called “Scaling Lean” by Ash Maurya.

The Scaling Lean book is helping me a lot, it’s a fast reading, summarize most points of a lean startup and presents you with step-by-step techniques and exercises to start and test your project.

- Project Progress:

There's a competitor on the market for this kind of service, so I know it works, but I'm putting a twist in my project, I know I can make it much cheaper than their product.

I've researched about this product hypothesis and I found out that a lot of their costumers was complaining about its price, yet, they still use it because they find it valuable.

I want to create a business that’ll be able to generate revenue and value right from the start, I don’t want to speculate with the market or beg a lot for investors.
 

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LeoistheSun

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 3, 2017
424
627
271
Southern Cali
What if you stayed the same price as your competitor but did things differently?
 

JordanS

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Aug 8, 2014
81
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129
Looking forward to more updates.

What stack are you using to build your mvp?
 

Damien Dev

Contributor
Mar 19, 2018
27
71
19
Melbourne, Australia
Hi there. Best of luck in your new venture. I've completed a few SaaS products, with varying degrees of success. Haven't smashed one out of the park yet but I am hoping to eventually get there. Just make sure your MVP stands for minimum, not maximum, as it doesn't take long for scope creep to sneak in and next minute you're building some grand thing that will never launch. Finish it, then get it out into the wild ASAP!
 

Damien Dev

Contributor
Mar 19, 2018
27
71
19
Melbourne, Australia
Hi there. Best of luck in your new venture. I've completed a few SaaS products, with varying degrees of success. Haven't smashed one out of the park yet but I am hoping to eventually get there. Just make sure your MVP stands for minimum, not maximum, as it doesn't take long for scope creep to sneak in and next minute you're building some grand thing that will never launch. Finish it, then get it out into the wild ASAP!
 
OP
OP
D

DGS

New Contributor
Mar 16, 2018
6
3
13
Brazil
# Log 2:

- Analysis Paralysis and GTD Method:

I had some problems with analysis paralysis. There was too much information and things to do, I needed a way to organize my thoughts and workflow.

There’s book about organization called Get Things Done by David Allen, which is a great book, but it’s somewhat difficult to setup a system that works with a specific workflow. So I had been using it casually until I bumped into this “GSD” thread (GOLD! - Achieve Laser FOCUS + PRODUCTIVITY With The System Legendary Fastlaners Use...) .

Google Keep is a great to organize actionable information, it can also sync with your smartphone app, so you can review everything everywhere you go.

I set up the system this way:

- I pinned a sticker with check-boxes and called it “@Action”, and wrote about 3~6 actionable tasks.

- I pinned a sticker with check-boxes called “Main Project” and dumped a lot of stuff I’ve got to do that’s related to the project. I moved the actionable actions into @Action sticker as needed.

- I created tags called @Computer, @Phone, @Errands… they work like actions that can be done within an environment or context.

- Any thought or idea that’s not actionable or need planning are written as common “notes”. They stay there until I process them.

- Anything that takes more than 5 minutes to do goes into Keep for later processing/reviewing, unless it’s actionable.

- Google Calendar works pretty well, because its syncing functions.

Also, it’s important to learn to filter information, so the best way I found to deal with it is to just look for information about things you need to know that very moment. Not things that you think that you might need in the future. For future things, you just take a note and leave it on Keep until you process them later.

- Project progress:

It’s taking much more time than I thought. I still haven’t finished Part 2 of the book, but I’m feeling a great progress.

I’ve cycled through 5 or 6 iterations of the Project Lean Canvas (1 Page Business Plan | Lean Canvas) and things are looking pretty solid now.

I also decided on the platform, and installed XAMPP, mySQL, Gogs and Atom… For now WordPress seems to be a really powerful tool for a MVP, I guess that’s a good choice to start working with, things may turn out to be a messy “pluginstein”, but still… It’ll worth it in short term. I guess.

There're a lot of small things that you need to take care of... I'm learning a lot of things as I go, including taxes, laws and so on...

For the future, I’m thinking about cold calling and making direct sales explaining why the clients need the product and stuff. Programming the systems seems to be the easiest part of this project.
 
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OP
OP
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DGS

New Contributor
Mar 16, 2018
6
3
13
Brazil
What if you stayed the same price as your competitor but did things differently?
I'd like to have a minimum number of Early Adopters as fast as possible... I'm aiming for 30 for now, it's really cheap compared to other solutions, so, I guess it won't to be that difficult to reach that number, I think I can get into this number in three months, maybe... but I'm probably being overoptimistic, I still don't have any number to base the growth rate, so... I'm planning to be very active, cold calling and talking directly with the users.

Once I have these numbers I'll start to charge more and test the market differently... what do you think?

Looking forward to more updates.

What stack are you using to build your mvp?
For now I'll go with WordPress and a common web server, I'll have to develop a plugin, but that's much better than develop a whole system...

Hi there. Best of luck in your new venture. I've completed a few SaaS products, with varying degrees of success. Haven't smashed one out of the park yet but I am hoping to eventually get there. Just make sure your MVP stands for minimum, not maximum, as it doesn't take long for scope creep to sneak in and next minute you're building some grand thing that will never launch. Finish it, then get it out into the wild ASAP!
Thank you, I'll keep it in mind. Release it ASAP seems to be the best way to go.

What kind of SaaS have you tried in the past?
 
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