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SaaS #SmallBusiness #AdviceNeeded
Hey everyone! π I could really use some advice on where to take my small SaaS business next. Here’s the scoop: I’ve been growing it steadily over the past few years, reaching around $7000 MRR with 100-200 B2B customers. However, it’s still not enough to be my main source of income, so I’m juggling a full-time job along with investing in marketing and development.
Here are the options I’m considering:
- Investor: Find an investor to scale the business but potentially give up some ownership.
- Loan: Take out a business loan to amp up marketing and sales without losing ownership.
- Grind: Keep hustling, taking home minimal income while growing the side business.
- Auto-pilot: Set the business on auto-pilot, reduce investments, and increase take-home pay with minimal work.
- ????: Open to other suggestions from all of you savvy folks out there!
I’ve attached a graph showing our growth. What do you think is the best next step for my small SaaS business? Let’s brainstorm together and help each other out! π‘π€
Personally, I’m leaning towards taking out a business loan to ramp up marketing efforts and really push for growth. What do you all think? Would love to hear your thoughts and experiences! ππ
With 100 – 200 customers and 20k in arr, you shouldnt spend a ton on high cost sales people. Focus your efforts on automating the sale, keeping your cac low. Top of the funnel marketing and new features should prioritize product-led marketing.
is this for wholesum.app? I have some questions to better understand your situation:
– how much traffic do you get by way of downloads?
– how much of that traffic converts?
– what is your churn (paid users that cancel subscriptions) rate?
I think spending on marketing is the easy answer, but it may not help you get sustainable growth that you can build on.
Sorry i know itβs off topic but who do you use for the software contracting and has it been a good experience?
The normal answer in bootstrapped b2b saas is that you are probably not charging your customers enough, and increasing your ACV will allow you to spend more acquiring customers and get into a positive growth spiral.
Do you need cash? Do you need help / advice? I’m maybe projecting here, but when I was part timing, I had no time to engage with the bootstrapped startup community – big rob walling fan now but if I had read The SaaS Playbook/listened to Startups for the rest of us/attended microconf, I probably would have made progress earlier. Maybe start with those, then decide how you want to take the business forward?