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Congratulations on your SaaS Success . . . hang in there. Doubling MRR each month + reaching your day job exit in 6 months, keep at it bootstrapping. Use some

by saluki 10y ago

Congratulations on your SaaS Success . . . hang in there. Doubling MRR each month + reaching your day job exit in 6 months, keep at it bootstrapping. Use some of your SaaS revenue to hire a support person/developer, what ever is taking the most of your time. Start delegating, even if it costs some of your income. Basically you're self funding and getting things setup to run without so much of your time. You could even push out quitting your day job beyond your target goal amount (SaaS expenses + salary) once you have some contract employees to free up some of your time. Spending some money to buy back some of your time sounds like what you need. So start hiring some contract employees/freelancers to handle what you can delegate to free up some of your time. Congrats, go with option 1, do NOT take funding, do NOT hire full time employees, focus on growth/marketing, delegating and only features users really need. Good luck, circle back around and let us know how it works out.

throw9987432 10y ago
Any more tips on why you feel so strongly 1, or strongly against 2-3? I do have a part time support person I am paying with "profits" (I am profitable as long as I keep working for free). So yes this is 100% where I am putting my money for a while, not for development.
- saluki 10y ago
  You won't regret bootstrapping as long as you can and owning 100% of your SaaS not sharing your profits with others. Reading your other comments it does sound like you could use cash/credit to increase your google ad spend and onboarding more customers faster that would be a good use of funds. Could you hire another contract employee to speed up getting people on board? If you can get signups from your adwords spend who sign up as paid in less than 30 days you could increase your spend in adwords on a credit card paying the balance each month to avoid interest charges. Stream line your on-boarding process to get customers on board. Adwords can go from printing money to shredding money pretty quick so use caution of course. But I think funding extra adwords with a credit card would be a nice way to grow signups if you can speed up your onboarding process. On bootstrapping . . . Being able to set your own pace, call your own shots, don't give that up. Inspiration: DHH Startup School Talk https://www.youtube.com/watch?v=0CDXJ6bMkMY https://www.youtube.com/watch?v=0CDXJ6bMkMY He also talks about limiting your work hours each week, give yourself blocks of time to work on your SaaS so you make the most of your time when it's available. Feel free to email me if you want to bounce ideas around through email . . . HNusername at gmail.

by saluki 10y ago

throw9987432 10y ago

Any more tips on why you feel so strongly 1, or strongly against 2-3? I do have a part time support person I am paying with "profits" (I am profitable as long as I keep working for free). So yes this is 100% where I am putting my money for a while, not for development.

saluki 10y ago
You won't regret bootstrapping as long as you can and owning 100% of your SaaS not sharing your profits with others. Reading your other comments it does sound like you could use cash/credit to increase your google ad spend and onboarding more customers faster that would be a good use of funds. Could you hire another contract employee to speed up getting people on board? If you can get signups from your adwords spend who sign up as paid in less than 30 days you could increase your spend in adwords on a credit card paying the balance each month to avoid interest charges. Stream line your on-boarding process to get customers on board. Adwords can go from printing money to shredding money pretty quick so use caution of course. But I think funding extra adwords with a credit card would be a nice way to grow signups if you can speed up your onboarding process. On bootstrapping . . . Being able to set your own pace, call your own shots, don't give that up. Inspiration: DHH Startup School Talk https://www.youtube.com/watch?v=0CDXJ6bMkMY https://www.youtube.com/watch?v=0CDXJ6bMkMY He also talks about limiting your work hours each week, give yourself blocks of time to work on your SaaS so you make the most of your time when it's available. Feel free to email me if you want to bounce ideas around through email . . . HNusername at gmail.