I Built 3 SaaS Apps to $200K MRR: Here's My Exact Playbook

Summary

Mike, a bootstrapped founder from Australia, runs five SaaS apps generating just over $200K MRR by following a repeatable, risk-averse framework. On Starter Story he reveals his exact 10-step playbook—choose proven ideas, build a focused MVP, charge users (often via lifetime deals), drive early distribution through niche communities and AppSumo, publish content early, and convert LTD buyers into reviewers and advocates. His teams are small, design-first, and split evenly among four cofounders to reduce founder fallout. He warns against platform-dependent or AI-reliant bets and emphasizes building products you enjoy with people you trust.

Takeaways

• 😀 Mike has built five successful SaaS apps generating a combined $200,000 in monthly recurring revenue (MRR), using the same proven playbook for each.
• 🚀 Mike's approach to building apps is focused on minimizing risk and ensuring every project has a high chance of success before launching.
• 🔑 The key to Mike's success is choosing ideas that have already been proven to work, avoiding untested or overly trendy concepts.
• 🛠️ Mike's 10-step playbook includes validating the idea quickly, building a minimal viable product (MVP), and offering lifetime deals to gain early traction.
• 💡 The playbook stresses the importance of getting real feedback early by charging for the product, even if it's just a small amount, to ensure customers are invested.
• 📈 Writing content and building an online presence is a core part of the playbook, starting early with blog posts and landing pages to boost SEO.
• 💰 Mike's companies use lifetime deals (LTDs) to generate revenue quickly and get early feedback from customers who are willing to pay up front.
• 🧑‍💻 Mike’s tech stack typically includes frontend tools like React or Vue, and backend tools like PHP and Laravel, but it varies depending on the team and product requirements.
• 🤝 Mike emphasizes the importance of working with co-founders who share a similar vision and passion for the business, to avoid the common risk of founder fallout.
• 🏆 One of Mike’s main rules is to never rely on external APIs or platforms that could put the business at risk, especially when building with AI-related technologies.
• 🎯 Mike advises founders to focus on building products they love and enjoy working on, rather than just responding to market demands or trends, for long-term motivation and success.

Q & A

How many SaaS apps does Mike currently have, and how much do they generate in monthly revenue?

Mike currently has five SaaS apps, and together they generate just over $200,000 in monthly recurring revenue (MRR).

What is Mike’s main strategy when choosing ideas for new apps?

Mike's main strategy is to minimize risk by choosing ideas that have already been proven in the market. He focuses on ideas that have been done before, ensuring they are already validated and have demand.

What is the significance of having a small, lean team for Mike’s SaaS businesses?

Mike aims to keep his teams small and lean to maintain profitability. By minimizing staff and avoiding large capital raises, the businesses can focus on generating profits, which are split between the founders after reaching $10,000 in MRR.

What is the 10-step playbook that Mike uses for launching SaaS businesses?

Mike’s 10-step playbook involves: 1) Choosing a proven idea, 2) Building a good enough MVP, 3) Offering a lifetime deal (LTD) for early users, 4) Never giving away free accounts, 5) Promoting the product in private groups, 6) Writing content early, 7) Launching on platforms like AppSumo, 8) Doing one final LTD, 9) Getting honest reviews, and 10) Engaging with customers on platforms like Reddit to build traction.

Why does Mike prefer proven ideas over new, untested concepts?

Mike believes new ideas are risky because they require validation, whereas proven ideas already have demand and a clear market, reducing the chances of failure.

What type of products does Mike avoid building?

Mike avoids building products that depend on external APIs, especially in rapidly changing fields like AI, as they pose a risk due to the lack of control over the technology and its potential for obsolescence.

What are some of the businesses Mike has built?

Mike has built multiple businesses, including curator.io (a social media aggregator), frill.co (a customer feedback tool), juno.co (digital signage for cafes and gyms), fluke.co (a no-code tour platform), and smile.co (a group e-cards platform).

What advice does Mike give to aspiring entrepreneurs when choosing a co-founder?

Mike advises working with people you enjoy collaborating with, people you would be happy to spend time with outside of work. Building something with friends or people you trust and enjoy being around makes the process more enjoyable and sustainable.

How does Mike ensure that the SaaS businesses he creates remain successful?

Mike minimizes risk by following a repeatable framework that focuses on validated ideas, building lean teams, engaging with customers early, and ensuring that the products address real needs. He also prioritizes design and usability in his products.

What tech stack does Mike use for building his SaaS products?

Mike’s tech stack varies depending on the team’s preference, but his back-end primarily uses PHP and Laravel. Front-end technologies may include Vue or React. For prototyping, he uses tools like Framer and VO (for prototypes) before moving to Figma for design.