I've launched over 10 startups in the past 10 years.
Here's how to get your startup to $100k in MRR in 90 days.
No funding required.
Let me show you exactly how:
Pick a Big Market
Here are the top 50 largest SaaS companies.
You are going to unbundle one of these.
Why start here:
- Huge mature markets
- Validated demand
- Niche options
Niche it Down
We want to position ourselves as the best option in a small piece of a big market.
Pick a vertical where customers have unique needs.
How you win:
- Niche it down
- Make it approachable
- Provide better service
Riches are in the niches.
Example: ConvertKit
Mailchimp is the #1 email marketing and automation brand.
They are huge with $1 billion in annual revenue.
ConvertKit is a tiny startup. They would be crazy to go directly after Mailchimp.
So they niched down to be the marketing platform for bloggers.
Tailor Your Positioning Statement
Nail your website headline (H1) to set yourself apart.
In 3 seconds a prospect should know whether they are a fit for you or not.
Otherwise, it is an uphill battle against all the other players in your space.
Reach Out
@nathanbarry reached out to niche MailChimp users with a short personal message.
Potential customers were happy to talk about their frustrations.
Drop relevant customer names for social proof.
Ask for Feedback
@asmartbear offered to pay potential customers to give him feedback on his product.
Many became customers. No one asked to be paid.
Now WPEngine is a multi-billion dollar company.
https://twitter.com/ColinKeeley/status/1624816338496790530?s=20
Remove Objections
Do things that don't scale to get off the ground. It will lead to things that do.
ConvertKit's biggest objection was around the work to transfer.
They offered to move sequences and emails for free.
It was a huge pain, but it worked!
Get Referrals
Every customer you win makes the next easier.
More feedback. More testimonials. A better product.
Your unscalable work will start to scale.
In a small niche, you start to build an echo chamber. It feels like everyone is moving to your product.
Be Human
People like buying from people.
Tell your story. Take sales calls. Bond with your customers.
This is your advantage over the big companies.
Lean into it.
Results
ConvertKit rocketed up after niching down.
They went from $1,500 in MRR to $100k MRR in 12 months.
Now they are at $33 million in ARR and growing.
It's still just 3% of Mailchimp's business so they have tons of room to grow.
Land and expand.
TLDR SaaS Bootstrapping Playbook
- Pick a big market
- Niche it down
- Tailor positioning
- Ask for frustrations
- Remove objections
- Get referrals
- Land and expand