Hi all, After running 2 successful SaaS-business, I've built SaaS product #3.
Hi all,
After running 2 successful SaaS-business, I've built SaaS product #3. But as I have decided to work on an offline business, I don't have the time anymore to market this new SaaS-product. The product itself is fully developed, and ready to go. It's just a matter of marketing, but that can take a lot of time.
What would you advice to do? I've invested about $20k in the product. I could do 2 things IMO:
- Hire someone to launch the product
- Sell the product as it as right now
If selling, what would be a good place to find a buyer? I know a lot of marketplaces (like Empireflippers, etc), but those are only profit-focussed.
Yeah, understandably. You have small chances of selling it. Whats the niche? What it does? Do you have a link?
It's a platform to let users easily add hotspots to their images. Think of webshop owners and affiliate publishers giving the tool to add direct links to the product pages from a general image.
The site is on [removed], but the marketing site need to be filled with text and examples.
Not only there are tools like that already, but there is evidence you tried promoting this tool and failed. Also, I think you could try to sell it for maybe $3-5K, but finding a buyer will be crazy hard.
Sorry to say that, but you are better off finding a marketing partner and give him 50% revenue/profit, rather than trying to sell it.
It depends whether or not the site is bringing in cashflow. If it isn't you might as well shut it down...
Out of interest, what did you spend the $20k on? Is that your calculation of your time invested or did you get someone else to do the dev work?
Money spent on developers.
Your product is most likely not worth the $20K you paid. So if you sell it, you won't make a profit (this is almost guaranteed), you can even run into a heavy loss (like selling it for $10K). This is because the SAAS has not tested the market and as of now its risky asset. Try to release it and spin it to at least a thousand bucks a month, then sell it. If you cannot, get a co-founder who is good with marketing. Do a 50/50 share with him (while you have a product, he will be working on it even if the $10K he should put it into this, he will keep working).
I definitely agree with this. SAAS has to be guilty until proven innocent.
I understand. Selling with some loss would be understandable. But all sellers on marketplaces are only looking profit-based.
Both. If you can work on it and maintain the technical side, take a marketing co founder.
If you cannot, sell it
Going to roast you but trust that like Jason Cohen does its not to attack you, its to help you see better.
You spent 20k on product development (first red flag)
You then came here without disclosing much information other than the site not being done.
And now you want people on here to advise you what to do with your project.
Without an hour long question and answer no one here can help. We don't know what you've tried, what has worked, what hasn't, who you should talk too or avoid or even how to suggest you sell the project.
I checked out your site (I actively pursue SaaS businesses that fit in my area of adding value) and have no idea how I could help.
I certainly don't have an interest in purchasing it.
I also don't have any interest in you owning half of the business on a rev share model if you think you can just hire someone to launch the product. Business doesn't work that way.
Outside of 1 or 2 rare cases "launching" means a lot more like 100 no's a day to get to 2 yes-es a week, over and over until you've made something REALLY valuable. It means HOURS and HOURS of customer development, for weeks and months before moving forward with building anything.
I'd love to help more, maybe provide advice but I can't do that well without knowing a TON more.
Answer all these questions and you'll have a shot at getting some good advice.