This week's numbers are in! Investor update

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 have an initial profit goal of £100. No progress on this yet.

• I've concluded the initial round of user interviews. 14 people were interviewed.

• The first demo of the MVP was sent to a group of people for early feedback. Comments were mostly positive and the excitement was real.

• I have a pricing strategy in place. Monthly subscription at £10/m

Here’s a sample page I created with my MVP.

Asks

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

Performance review

I completed the initial round of user interviews.

14 people were interviewed. 17 scheduled. 3 no-shows / dropped.

The ONE key metric I'm focusing on is early customers.

Last week the metric was early adopter. This is no longer the case.

I found enough evidence that my product solves a real problem that I'm shifting to paid customers as key metric.

Aim to have 3 customers by the end of next week.

The secondary metric is user interviews

User and customer interviews are still a great source of learning and leads. I want to do at least 3 user interviews a week from now on.

Posts performance

Reddit:

• Total of 82k views across 4 subreddits. Almost 50k views more than last week. mind-blowing.

• Most engagement comes from r/SaaS and r/EntrepreneurRideAlong. r/TheFounders is a new addition.

Linkedin:

• 3,936 post impressions over the past 7 days. - 166 views. Negligible.

• 147 LinkedIn Newsletter subscribers. +21 from last week. Great progress.

Newsletters

• 33 subscribers in total. +11 from last week.

• 24 from direct traffic. 8 from Reddit. 1 from LinkedIn

• This is the channel that I'm excited about. Amazing progress given how hard is to grow a mailing list.

Future outlook:

• Will identify an initial ICP. For now, is "Solopreneur who struggles creating landing pages"

• Aiming to have at least 3 customers by the end of next week.

• Organic growth on socials continues to have traction, still doubling down on it

• The focus of next week is impacting top-line metrics.

• From next week I’ll start sharing product usage metrics too

Highlights:

- I was testing the wrong hypothesis through user interviews. The questions I was asking were aimed at the problem I was trying to solve. This allowed me to get all the insight to start building even if the hypostasis wasn't correct.

- The amount of encouragement and support I keep receiving is insane. Blowing me away every single day.

Lowlights:

• Same problem as last week. Engagement is good but not great. I am not creating content that enables people to engage. Will change the approach this coming week.

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

Till next time!

Matt

If you are an investor, I would 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.

I will share your feedback in my next update.

Context

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

• I wasted 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.

• The hypothesis was too generic, obvious, and not specific enough.

• After doing enough interviews I had enough confidence to build an MVP.

• The main driving factor was the universal answer to the question "What's hard about creating a landing page?". "The content and the structure" was the answer.

• My business model will be a monthly subscription starting at £10 a month for the first 10 customers.

• After I've onboarded the first few customers I'll have a better idea for pricing.

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?

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Thanks for reading!