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.

This is an investor update as I would send it to real investors. It might not make sense as a post so I'll add a "how to read this post" at the bottom.

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 is off to a smashing start. Thank you for your faith in me. Let's get to it!

TL;DR;

- I've been posting on Reddit and Linkedin for a week.

- I talked about the mistakes I made in the past and how to avoid them this time.

- I found a problem that might be worth solving with a product.

- I am setting up user interviews right now to confirm the hypothesis I made

Asks

- [Intro requests] I need to find 7 more people willing to take part in a user interview. If you'd like to take part or know anybody who could be a good fit, please let me know.

- [Growth] I'm centralizing all my posts under one platform. Please help to spread the word by signing up at this link https://welldoitlive.beehiiv.com/ and share with your network

Performance review

This was week 1 so I don't have a WoW chart.

The ONE key metric I'm focusing on is user interviews

I have 3 out of 10 leads. By the end of the next week, the goal is to hit all 10 or more.

There is a strategy in place to hit and potentially overshoot the goal.

Posts performance

- Reddit r/SaaS: Averaging 3.3k views across 5 posts

- Reddit r/Entrepreneurship: My posts keep getting auto-deleted. I'm in contact with the mods but no resolution for now.

- Reddit r/EntrepreneurRideAlong: by far the biggest channel. Averaging 7.5k views across 5 posts

- Reddit r/SideProject: averaging 1.9k view across 5 posts

- Linkedin:

- Newsletters: I have 3 subscribers to the newsletter (THIS IS SUPER EXCITING). About 50 people subscribed to the LinkedIn newsletter

Future outlook:

- Aiming to complete the user interview ASAP, ideally by Friday the 12th of July

- Aiming to get the findings from the user interviews synthesized and ready to build an MVP

- [Blocked] Aiming to get an MPV up and running as quickly as possible. User interview is a dependency.

Highlights:

- I have received so much support that absolutely blew me away. Wasn't expecting it.

- I have received a good amount of comments on my approach what I'm trying to do and how to progress further

- I have had the most amazing conversation with a founder. He reached out on Reddit because I started live-building. So grateful for this.

Lowlights:

- I need to be better at creating content that encourages people to engage. It's becoming a one-way conversation and I need it to be 2 ways.

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

Till next time!

Matt

This would be the end of an investor's update. Let's talk about how to make sense of this.

If this is the first post you're reading from me then you miss a little context. If this is not the first post you're reading I would love to know if it made sense for you.

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

Why I'm doing this?

I started a company almost 2 years ago. It failed. I made tons of mistakes and I learned A LOT.

Now I'm live-building my next thing:

- sharing all my mistakes

- sharing exactly what I'm doing day by day

What problem I'm trying to solve (e.g. what does my startup do?)

Solopreneurs, technical startup founders, and small SaaS owners don't know how to create a high-converting landing page.

Why is it a problem worth solving?

A high-converting landing page makes companies money. Can be a direct sale, can be a new lead, or can be the launch of a new feature. If the page converts the company makes money.

On top of that, landing pages are used in marketing campaigns. lots of money is spent on ads. a high-converting landing page brings CPA down.

What's the hypothesis?

Small companies/solopreneurs are willing to pay for a product that makes it easy and quick to create high-converting landing pages.

What am I doing to prove the hypothesis?

User interview. the aim is to get 10 people for a 20 minute call and use the findings to see whether the hypothesis is correct. If it is we can build an MVP

That's it!

I would be thrilled to hear from you now:

- 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!