Thread by @AKASpencerScott

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