I’ve developed and bootstrapped a niche SaaS product. Started with a beta 1.5 years ago, launched and started charging 1 year ago. £0 to £4k MRR from 190 customers in 1 year. Trend suggests this will at least double in year 2 even if I continue as a one man show.
However, it’s easily at the point where I can’t do everything myself, and I feel like I’m starting to bottlekneck progress by not doing all the development/marketing/sales/support I could be doing. Got tons of ideas on all fronts and I’m in a market that I now know inside out (having spoken to hundreds of customers over phone and email) and which is genuinely there for the taking. I have 4 direct competitors but 2 are old/desktop based and going nowhere, and the other 2 don’t appear to be being actively developed either.
Currently it’s a bit like a (fun but intense!) job that I own. All the MRR goes straight out the window on mortgage and bills! I desparately want to take it to the next level but how? I can’t afford my first hire yet and I could probably do with hiring 2-3 people! Do I have something that might attract funding here? If not now maybe in a year or two? I really have no clue!
Look forward to everyone’s thoughts and any follow up questions 🙂 Tell me how it is!