Here is a funny story on how I am using Wix to build a $1m dollar SaaS biz in the next 6 months 😜
(Am I full of shit? Probably! Click "Show this thread" to find out)
[Story Time]
I run super profitable SaaS company called Loup that sells a monthly service to over 200 voip providers in all 50 states.
I am a lucky SOB... BUT... I am also greedy!
Loup has over 60% of the total approachable market (TAM) on the platform...
Soo...
In order to make MORE money... I need to find a new market to sell into...
(or upsell existing customers which we are doing)
Why not do both?!?!
To do that I birthed the idea to create my own softphone...
"But Spencer, you are an idiot and don't know how to code" - Twitter
You...
My friend...
Are right!
I am an idiot... BUT... I am also great at taking baby steps... haha
I knew if I wanted to build a softphone I needed to create a scope of work for a dev team...
Lil problem... I dont know graphics design either...
Soo... I shit you not!
I signed up for a free @Wix account and went to work.
For those of you who don't know Wix...
They are a website design tool for idiots...
(my words not theirs)
After about 4 hours of dragging divs (wtf is a div?) I ended up with OnePhone[.]io
(not bad eh?)
One problem... That was 2 years ago...
I am not kidding!
Over 2 years I tried my damnedest to build a softphone and failed...
I dumped THOUSANDS into the project...
BUT... I had hyped it up... As a result I was too ashamed to turn down the website
(The crazy part)
For 2 years people have been organically finding the site and signing up... 🤯
AND
In the thank you email I ask subscribers to "invite friends" to move to the top of the Beta list..
(a list that didn't exist)
Today I have over 1,000 people waiting for this product!
Then...
3 months ago I got a phone call from a customer that said they would give me $100k to build a softphone...
Then a second customer called and gave me the exact same offer!
Turns out, they pay $100k a year to my competitors!
AND
Are willing to pay me $100k to "invest" in...
A company in order to NOT have to pay monthly any more.
My brain bells started ringing... I should probably build this...
But how? I already tried!
So I called my buddy @AbotteenVB. He is a NERD!
A voip NERD to be specific!
but I love the guy and he was my NERD when...
I was a slimy sales guy at Vonage...
(still slimy sales guy for what its worth)
Adel and I would fly around the US sniping voip deals left and right. (see pic of Adel below 😜)
Anyways... Adel explained to me how the Vonage softphone worked...
GAME ON!!!!!
Now that I new the secrets... I just had to hire the talent!
So I turned to old faithful... @Upwork!
This is where it get crazier...
Within 24 hours I interviewed 3 devs and hired 1.
I showed him OnePhone[.]io and he said...
"No problem, I will have it done in 30 days"
15 days later and this LEGEND deliver me this 👇🏽
Thanks to the advice I got from my boy @AbotteenVB... Everything got easier!
OK great! Now we have a product...
"What about that $1 milli you click baited us into reading about?"
Well... Check this out...
Remember how I said I am a slimy sales guy?
Welp... I tried to sign up for the 2 largest competitors in the space...
Depending on a few factors... They charge up to $5k just to get started with them...
Then another $1 per user!!! PER MONTH!!!
So I DMed a friend... See below
Not only can I get a sizable setup fee for this service...
BUT...
If I can deliver a halfway decent product there is a clear path to thousands in MRR!
AND...
I already have over 200 HOT leads that trust me and are using Loup!
Let's break it down...
If I can get 200 users in the next 6 months to sign up...
(200 x $5,000 = $1,000,000)
I will hit the milli I promised you at the top of the thread 😬
200 is a LOT though.. Here is my plan...
In case I can't convert 200 customers...
I will offer super steep discounts on annual plans for anyone who signs up in the first 6 months...
I am talking 12 months rev UP FRONT!
(I owe @Patticus for the pricing masterclass)
Well... What do you think?
Do you think I can pull this shit off?
Also, this was a 10,000 foot perspective... If you have specific questions drop em below... Love to answer them..
Cheers,
Spencer "perpetually failing forward' Scott
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