4 ms·
Answering from a throwaway: started my own software company 10 years ago, selling SaaS w/ monthly recurring revenue in the CRM space. I was 25 at the time, an
by tosser8398b9 13y ago
Answering from a throwaway: started my own software company 10 years ago, selling SaaS w/ monthly recurring revenue in the CRM space. I was 25 at the time, and left a 150K/year job as a lead engineer.
Endured 18 months basically zero income, then a slow climb from ~60K to 500K/year in 2012.
Monthly recurring revenue = stable income. Especially b/c our primary product is a low price point, so our revenue is well distributed across hundreds of clients.
Other than the sacrificial early years, the key points are:
1. No VC
2. Long, steady SaaS income ramp
3. Small company - 3 people total, I'm the only developer (and always have been), and I own the majority of the company. The company does over 1M in revenue annually, with a low cost basis.
If someone wanted to go this route, I would advise them:
1. Be a full-stack generalist
2. Build a revenue-generating company by selling software (vs. giving it away in hopes of attracting eyeballs & monetizing those).
3. Learn a vertical (CRM, in our case), and fix a pain point. Don't follow the herd into the sexy startup de jour.
4. This is a marathon, not a sprint. Don't kill yourself.
5. Offer extremely good customer service
- mapster 13y agowould love to learn more about your path - maybe a mixergy interview? :)
- tosser8398b9 13y agohmm. I answered from a throwaway account b/c I don't particularly want "the internet" knowing how much money I make in a given year. So I don't know that a follow-on interview would fit my psyche =)