Investor update 2 (all numbers disclosed)

I'm building a SaaS in public, posting progress every day. I don't have investors but I have people investing their time in reading my posts. This updates it for them. It also helps me write better investor updates.

Disclaimer: I don't know what I'm doing, this is an exercise to push me out of my comfort zone.

Hi all, I'm happy to report that building a SaaS live going incredibly well. Far exceeding my expectations.

Thank you for your faith in me. Let's get to it!

TL;DR;

- I've set an initial company goal. £100 of profit.

- I've exceeded the goal of finding 10 users to interview. 15 scheduled. 3 dropped out / no-show. 3 left to interview.

- Found enough initial validation to start building. Once the interviews are complete will do a better analysis.

- In 3 days I built a very bare MVP and will start sharing it with users from Monday.

Asks

- [Intro requests] I'm looking for solopreneurs who struggle with their landing pages marketing efforts. If you are one of them or know one, please let me know or get in touch.

Performance review

Smashed last week's goal for user interviews. 

The goal was 10 leads. 15 interviews scheduled

The ONE key metric now is early adopters. 

I aim to have 5 early adopters by this time next week.

The secondary metric is user interviews

I aim to do another 5 user interviews by this time next week.

Posts performance

Reddit:

- Averaging 30k views across 3 subreddits

- Most engagement comes from r/SaaS and r/EntrepreneurRideAlong

- I stopped posting on r/Entrepreneurship as my post is getting auto-banned.

Linkedin:

- 4105 post impressions over the past 7 days

- 127 LinkedIn Newsletter subscribers

Newsletter:

- 22 subscribers in total

- 15 from direct traffic. 6 from Reddit. 1 from LinkedIn

- This is the channel that I'm excited about. It signals real intent of following my journey

Future outlook:

- Aiming to have the MVP in a barely usable state ASAP and get early adopters

- Organic growth on socials has some initial traction, doubling down on it

- [blocked] Impacting top-line metric is blocked by not having an MVP.

Highlights:

- The amount of encouragement and support keeps blowing me away

- I spoke with so many wonderful people and their insight will be key for the initial growth phase

- Early build of the MVP has the 2 key components working. Allow people to create high-converting landing pages and provide some simple conversion analytics

Lowlights:

- Engagement is good but not great. I am not creating content that enables people to share their opinions.

- When posting on Reddit, if a post has an external link, it looks like the number of views is halved. I've observed this and tested out the theory that posts with links have a lower reach

Feel free to reach out if you have any questions or concerns

Till next time!

Matt

If you are an investor, I would absolutely LOVE for you to rate this update. I will make sure to share any feedback I get from this. Please add something in the comments, good or bad. I'm super interested to hear from you.

Context

In case none of this makes any sense, here's some context:

I'm building a SaaS in public, posting progress every day.

I'm also adding lessons from all the mistakes I made and learning from current events.

I started with a problem I've observed: I spent tons of time and money in creating landing pages that sucked. I wasted tons of money on ads that would send traffic to terrible landing pages.

I formulated a hypothesis: "People are willing to pay for a product that makes it easy to create high-converting landing pages."

I did a few user interviews to confirm the hypothesis

I had enough initial information to start building

I haven't figured out an ICP yet.

I haven't figured out a business model yet.

This is a two-way conversation, I have a few questions for you:

- what do you think about this update, did you like it? did it make sense?

- any suggestions on something to improve?

- should I stop doing this and go find a job like a normal person?

Thanks for reading!