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Curious if there are people here who did both. What are the pros and cons of doing each (in your experience)? Talking in terms of $$ potential, how "easy" it is to do, etc.?
There are very few people who built profitable (at least more than $100 MRR) SaaS products.
There are very few people who built profitable (at least more than $1000/m in sales) Info products.
Now if you ask for a combination of both, its gonna be much smaller number.
But I have successfully done both. Can't give exact figures at the moment but you can safely assume its a few thousands USD per year.
Google Sheets Website Builder - Profitable SaaS
Micro SaaS Ideas - Profitable Newsletter (if you call it a Info product)
Micro SaaS Builder's Handbook - Profitable Info Product (in progress though)
Recently announced new SaaS product - Work in progress though.
One of the biggest challenges with multiple projects is priortitizing the time. When we handle multiple projects, evaluating the tasks that give highest ROI is challenging.
But to answer your question,
On a side note, having credibility on social platforms makes it a little easy for Info Products/Courses/Cohort based learning
This might not sound helpful, but for me it was actually a big realization and therefore I hope it's a helpful comment: The question is not, which one is easier in terms of $$ potential, but for which one can you create value easier. Bringing value to the market is the main thing to do. $$ will follow.
I was in this trap myself for a long time as well, trying to find the best thing to make $$. Only after I changed to more value-based ideas I was able to - ironically - find something which makes money.
Where did you get value based ideas from?
I sell a product which is a bit of both - a SaaS with a DaaS component (scraping third party sites). The SaaS side ticks over - my software works reliably without maintenance from me, but the DaaS takes time and effort from me each year to keep the scrapers working (as the third parties make changes their sites). And that's a pain.
I also tried another DaaS product - scraping millions of available jobs from sites. The work was within my capabilities but it felt like an endless task of adding more sources, obtaining more jobs, cleaning data, matching jobs to locations, etc. I put in a lot of effort and barely made a dent in the problem.
If I was to do a DaaS again, I'd make sure that it was for a knowledge domain which wasn't too large / overwhelming for one person to stay on top of.
SaaS - harder to get started (requires coding), but the barrier to entry is also higher.
info products - not that hard to get started, but you also have lots of competition.
I'm really curious what's the average failure rate of SaaS vs. info products.
My thoughts echo others' comments.