I built a startup in 31 hours (SaaS)

Summary

In this video, the creator shares their experience building a software from scratch to the first customer in just 31 hours. They discuss finding startup ideas by solving personal pain points, validating ideas quickly, and launching strategies to gain initial traction and revenue. The video also touches on the importance of a landing page, pricing strategies, and focusing on a single feature for rapid development. The creator emphasizes the benefits of speed in entrepreneurship, showcasing their journey from $1,000 to $50,000 monthly revenue by launching startups in days instead of months.

Takeaways

• 😀 The speaker built a software from scratch to the first customer in 31 hours during a live stream on YouTube.
• 🔍 The importance of finding startup ideas by 'scratching your own itch', identifying tasks that are annoying or boring in daily life to automate.
• 💡 Validating startup ideas by quickly shipping a product and observing if it's a flop, which is less consequential due to the speed of development.
• 💰 The speaker's best product, Ship, made $300,000 in 6 months by following the 'scratch your own itch' approach.
• 🚀 The speaker's motivation for building the new product was the frustration with Stripe fees and the need for automated invoice generation.
• 📈 The strategy of using unconventional methods to build the product quickly, which may upset traditional developers.
• 💸 Pricing strategy insights: one-time payments are preferred over subscriptions for ease of implementation and user preference.
• 📉 The speaker avoids free plans and focuses on paid ones, as free users rarely convert to paying customers.
• 📝 The speaker emphasizes the importance of a landing page for conversions, spending 30% of the development time on it.
• 📉 The focus on launching with a single feature to ensure the product is not overcomplicated and meets a specific need.
• 📈 Launching strategies include using platforms like Product Hunt, Twitter, Hacker News, and the subreddit Side Project for initial traffic and visibility.

Q & A

What was the main goal of the YouTube live stream on February 5th?

The main goal was to build a software from the first line of code to the first customer within 31 hours of streaming, and to share the entire process in the video.

How did the creator find the startup idea for the software built during the live stream?

The creator found the startup idea by scratching their own itch, noticing the high cost of Stripe fees for generating PDF invoices, and realizing there was a need for a tool to automate this process.

What is the significance of 'scratching your own itch' in the context of finding a startup idea?

Scratch your own itch means identifying a problem or task that you personally find annoying or time-consuming and creating a product to automate or delegate it, which is easier to validate because you are a user of your own product.

Why did the creator decide to go live on YouTube while building the software?

The creator went live on YouTube to build the entire startup in real-time, allowing viewers to witness the process from the first line of code to the first customer, which is a unique and engaging way to share the experience.

What are the unconventional methods mentioned for building the software quickly?

The unconventional methods include shipping the product extremely fast, focusing on one feature at a time, using one-time payments instead of subscriptions, and not using advanced development practices like TypeScript or feature branches.

Why did the creator choose one-time payments over subscriptions for the software?

One-time payments are easier to implement, better for users as they don't have recurring costs, and can still be transitioned to subscriptions later if needed.

What is the importance of the landing page in the success of the software launch?

The landing page is crucial as it is often the first point of contact with potential customers. It needs to effectively communicate the problem it solves, provide social proof, and clearly demonstrate the product's value.

How did the creator validate the need for the software before building it?

The creator validated the need by noticing a pattern of complaints about Stripe invoices on Twitter, realizing they were not alone in facing this issue, and quickly shipping a minimal viable product to test the market.

What was the pricing strategy for the software, and why was it chosen?

The software was priced at $69 for a one-time payment, chosen because it's a good price point for a 'painkiller' product, and it's less than $100, which is considered a psychological barrier for many customers.

How did the creator launch the software to get the first visitors and customers?

The creator launched the software on Product Hunt, Twitter, Hacker News, and the subreddit SideProject, which collectively brought in about 4,000 visitors and $2,000 in profit within the first week.

What metric does the creator track to determine the success of a startup?

The creator tracks the 'dollars earned per visitor' metric to assess market fit and determine if a product is worth focusing on or letting run on its own.

What is the creator's approach to feature development for new startups?

The creator focuses on building only one feature that cannot be removed, to ensure the product addresses a specific need. Additional features are added based on customer feedback and demand.

How does the creator ensure the product is solving a real problem for customers?

By building a product that the creator themselves needs, and by observing social media platforms for similar complaints or needs, ensuring that the product is addressing a real and shared problem.

What role did social proof play in the launch strategy of the software?

Social proof played a significant role by increasing trust and conversion rates. The creator used direct messages to ask potential customers to try the product for free in exchange for feedback, which could be used as social proof on the website.

Outlines

00:00

🚀 Rapid Software Development and Launch Strategy

The speaker describes their experience of building a software from scratch to its first customer within 31 hours of a live YouTube stream. They share unconventional methods to expedite the development process, which may surprise some developers. The focus is on identifying startup ideas by solving personal problems, validating these ideas quickly, and launching with strategies that include avoiding free plans, opting for one-time payments, and setting reasonable prices. The speaker emphasizes the importance of a landing page with a clear value proposition and social proof to convert visitors into customers. The summary of their approach to fast product development and launch is provided, including the decision to forego certain development best practices to prioritize speed.

05:01

🛠️ Key Components for a High-Converting Landing Page and Launch Tactics

This paragraph delves into the critical elements of an effective landing page, starting with the problem agitation component that resonates with customer pain points. It underscores the significance of a compelling headline and the use of social proof, even in the absence of an established audience, to build trust and boost conversion rates. The speaker also discusses the importance of demonstrating the product through a demo video and choosing a memorable product name. They admit to non-traditional development practices, such as not using TypeScript, avoiding Git branches, and not testing code, in the interest of speed. The paragraph concludes with a discussion on the speaker's launch strategy on platforms like Product Hunt, Twitter, Hacker News, and the subreddit side project, which collectively helped in garnering significant traffic and revenue within the first week of launch.

Keywords

💡YouTube Live

YouTube Live refers to the live streaming feature on the YouTube platform, where content creators can broadcast real-time video content to their audience. In the video's context, the creator used YouTube Live to develop and showcase the creation of a software product from scratch, which is a testament to the interactive and real-time capabilities of this feature.

💡Startup ID

A Startup ID, in the context of entrepreneurship, refers to the identification of a business opportunity or a problem that a new venture aims to solve. The video emphasizes the importance of finding a Startup ID by 'scratching your own itch,' meaning identifying a personal need or frustration that can be turned into a product or service. The creator discovered their Startup ID by recognizing the need for a tool to automate PDF invoice generation for Stripe transactions.

💡Product Validation

Product validation is the process of confirming that a product idea has potential in the market by gathering feedback from potential customers. The video mentions unconventional methods of validation, such as rapidly shipping a product to see if it resonates with users, which is a way to quickly assess whether the product meets a real need.

💡Unconventional Methods

Unconventional methods in the video refer to non-traditional approaches to building a product quickly. The creator discusses strategies like focusing on one core feature and forgoing certain development practices like using TypeScript or writing tests, which are typically considered best practices in software development. These methods are used to expedite the product development process.

💡Launch

In the context of the video, a launch refers to the process of introducing a new product to the market. The creator shares their experience of launching a software product and the strategies they used to attract visitors and generate profit within the first week. The launch is a critical phase that can set the stage for a product's success or failure.

💡One-Time Payments

One-time payments are a form of payment where the customer pays a single amount for a product or service, without any recurring charges. The video suggests that starting with one-time payments can be advantageous for solo entrepreneurs, as they are easier to implement and can attract customers who are wary of recurring subscription fees.

💡Price Point

A price point is the specific amount at which a product or service is sold. The video discusses the importance of setting the right price point for a product, suggesting that less than $30 is suitable for 'vitamin' products (nice-to-have) and less than $100 for 'painkiller' products (must-have solutions to a problem). The creator priced their product at $69 to reflect its value as a solution to a specific pain point.

💡Landing Page

A landing page is the web page that a user arrives at after clicking a link, often with the intent of capturing leads or making a sale. The video emphasizes the importance of a well-designed landing page in converting visitors into customers, highlighting components such as problem agitation, social proof, and a clear headline that communicates the product's value.

💡Social Proof

Social proof is a psychological phenomenon where people conform to the actions of others under the assumption that those actions are reflective of correct behavior. In the context of the video, social proof is used to build trust and increase conversion rates on the landing page, such as by showcasing testimonials, user numbers, or endorsements from influencers.

💡Product Hunt

Product Hunt is a website that allows users to discover new products and provides a platform for creators to launch and promote their products. The video mentions Product Hunt as one of the key platforms used by the creator to launch their software, indicating its role in driving initial traffic and gaining visibility for new products.

💡Revenue per Visitor

Revenue per visitor is a metric that measures the average revenue generated from each individual visitor to a website. The video describes this metric as a key indicator for assessing market fit and the potential success of a product. The creator uses it to determine whether a product is worth further investment of time and resources.

Highlights

Live-streamed software development from the first line of code to the first customer within 31 hours.

Utilized four unconventional methods to build the software rapidly.

Generated $2,000 profit within the first week post-launch.

Identified a startup idea by scratching one's own itch and automating tedious tasks.

Validated the startup idea by observing a pattern of complaints about Stripe invoices on Twitter.

Launched the product live on YouTube to engage with the audience and stay motivated.

Avoided free plans and subscriptions for solopreneurs, opting for one-time payments.

Priced the product at $69 for one-time payment, targeting the 'painkiller' market segment.

Focused on minimal recurring costs to ensure profitability even with a small customer base.

Implemented a price anchor at $49 to help potential customers gauge the product's value.

Emphasized shipping a single feature to avoid overcomplicating the product and losing focus.

Invested significant time in crafting a high-converting landing page.

Highlighted the importance of the problem agitation component on the landing page.

Used social proof, even in the early stages, to build trust and increase conversion rates.

Included a demo video on the landing page to show potential customers what they are buying.

Chose a memorable product name to facilitate sharing and recall among users.

Adopted a streamlined tech stack to expedite development without the use of TypeScript or Git branches.

Launched the product on multiple platforms like Product Hunt, Twitter, Hacker News, and Side Project to maximize visibility.

Tracked the 'dollars earned per visitor' metric to assess market fit and decide on further investment.

Achieved a significant increase in revenue by adopting a faster product launch cycle.

Encouraged viewers to subscribe for more insights on rapid startup development and growth.

Transcripts

on February 5th I went live on YouTube

and I built a software from the first

line of code to the first customer

within 31 hours of streaming in this

video I am going to share everything

from how did I get the ID and validate

it how I use four unconventional methods

in order to build it really fast and

that is probably going to make some

developers cry and finally we are going

to go over the launch part and how did I

get visitors and get $2,000 of profit

within the first week let's Jump Right

In how to find startup IDs there are

three ways to find them and my favorite

by far is to scratch your own itches

looking around you what you do on a

daily basis and see if you find any

boring annoying tasks that you don't

like that you could have a product to

automate it or delegate it thanks to

that I've been able to generate money

from every single launch that I made my

best product so far ship has made

$300,000 in 6 month thanks to this exact

same way to find IDs for the startup

that I built in 31 hours I was actually

checking my stripe account seeing how

much money I made in 2023 and I realized

that I spent $1.6 th000 on stripe fees

in order to generate PDF invoices I

decided to turn off the option and my

email were flooded with customers asking

for invoices there we go I had a new

product ID born just like that when you

scratch your own itches it's much easier

to validate a startup IDs because you

actually a user of your own startup I

also checked on Twitter and I saw that

there is a recurring uh pattern of

people complaining about stripe invoices

so I had a sense of I might not be the

only one in need of this tool there are

tons of tips and advices to validate

startup IDs um my method is a bit

unconventional but it is to ship it so

fast that if it's a flop it doesn't

really matter so someone at the end of

January 2024 I have a pain in my life

and I have this startup ID to let uh

customers generate invoices themselves

so the sty businesses owners like myself

don't have to do it I would normally

start typing my first line of code and

but instead I went live on YouTube and I

built the entire startup during 31 hours

of streaming from the first line of code

to the first customer these are the

methods that I use to build the startup

really fasing is everything as a

customer that's where you would go on a

website if you don't fully understand

what the product does and as a business

owner that's how you pay the rent and

also how you stay motivated over the

long term so this is one of the first

thing I brainstorm when building a

product I found out last year that free

plans don't really work for solo

preneurs because most free users

actually never convert to pay customers

also that subscriptions are actually

much harder to sell than onetime

payments so I usually ditch

subscriptions I start with onetime

payments it's much easier to implement

as a developer better for users because

they don't have recurring cost and if

the product goes viral and I end up

having a bunch of users and there is a

need for subscription I could still

grandfather the first users and start

charging subscription for the next user

for one payment I found out that less

than $30 is usually a good price point

when you're selling a vitamin a product

that is a nice to have but not a must

have and less than $100 is usually a

good price point for a painkiller so for

my startup Zenvo I priced it at $69

onetime payments um I have barely zero

recurring cost the bandwidth is

extremely cheap the emails to send

secure tokens are also really cheap it's

like usually $1 for a th000 emails so

this is very unlikely that I would get a

customer that would actually cost me

money and finally I added a price encor

to the product at

$49 one time payment this gives you

access to the the product for uh limited

access with only one stripe account this

is important because people have it's a

new kind of product people have no clue

what they're looking at and this helps

them decide roughly what is this product

worth if I add only one plan it would

probably get them confused as a product

obsess developer this part is the one I

struggled the most for years it is to

ship only one feature that one feature

you cannot remove for his invoice it's

the ability for customers to send a link

to their customer so they can generate

invoices anything that is not about that

will be removed there is no way to

preview the invoice no way to edit the

details on the invoice no reset password

thing there is just one big feedback

button at the top of the user dashboard

so that customers can let me know if

they want a new feature here is the red

pill most of startups fail so most of

the features that we build won't be used

by by users that's why I have this

framework of building only one feature

and shipping the first version of the

product with only that feature there is

another crucial part that is often

overlooked by product obsess developers

like me it is the Ling page 90% of

people will never see your product so I

spent 11 hours or 30% of the entire time

building the the Ling page and there are

a few components that are very crucial

for Lending page that converts first is

the problem agitation component it's a

section on your landing page usually

under the hero section that shows that

you understand the customer pain it is

very helpful because it shows respect it

show that you care about your customer

you know why they're here and if you

speak their own language your visitors

are much more likely to convert into

paying customers the headline at the top

of the hero section the H1 tag is very

important it is the promise you make to

your customers it should answer the

question of why would I spend more of my

precious time on this websites I never

ship a startup without some kind of

social proof at first when you don't

have much visitors it's hard to get them

but you can still send a few DMS on

Twitter LinkedIn wherever this is your

hanging outs and ask some people who are

potential customers if they're willing

to try your product for free there are

tons of noise out there and when you

have some kind of social proof on

website you build trust and you increase

your conversion rate because I always

launch product without a free Tri people

would have to pay before actually

signing up I usually display a little

demo video of the funer so me explaining

the product so people know what they're

buying and finally your product name is

very important because that's what

people will remember and later on share

with potential users if they find it

relevant if you are a software engineer

you are going to cringe at the next part

I do not use typescript I do not use G

branches I do not test my code and I

keep the same text stack for the past

two years I still use mongod and I love

it this is usually a loss of time

because it creates constraints and

whenever you want to move fast and break

things it just make everything much

slower because most startups fail I do

not spend too much time thinking about

the marketing side of things and instead

I focus on the launch if I launch well

I'll get enough data and visitors to

know if it's worth it or not to invest

more time into marketing and growing the

product later after 28 hours of

streaming the product Zenvo was done and

I am going to cover the four places I

launched the startup in order to get the

first visitors and the first customers

all right first I will always schedule a

launch on product hunt there are many

people browsing the site every day

bringing some traffic to your product

and giving you an initial boost and

later on if things go well you could be

targeted by other newsleter and media

who would just fed off product hunts and

you could see spikes later on in the

future I also launched on Twitter I

usually use Twitter as a bumper to P to

pump my product hunt launch on Twitter

people like new stuff so if you have

some kind of product that is a bit

trendy or if you use a good headline you

can easily get some traffic even though

you're getting started another platform

I love and I always launch on is hicker

news this is more random than Twitter in

product hunt but if you craft a good

headline your product can go crazy viral

this is what I happened for my first

product and I got something like 10,000

visitors within the first 24 hours and I

had zero audience and nothing back then

and finally the subreddit side project

it's still very active has a decent

number of people can bring a couple

hundred of visitors here your product so

overall a good place to launch a startup

I launched on all those four platforms

within a time frame of like 2 to 3 hours

and 24 hours later and about 4,000

visitors on the site then voice made

$800 and by the end of the week of

launching he made $2,000 in profit and

also received messages from customers

who were happy to finally have a

solution for stripe invoicing which is

promising for the future I still do not

know if I will focus on Z invoice or if

I will let it run by itself I will wait

to have at least 10,000 visitors on the

site in order to see the dollars earned

per visitor metric which is the only

metric I track um to give you a

reference my best website uh ship Fest

gets almost $1 per visitor Revenue so

for 100 visitor I could expect $100

worth in revenue and my worst product

got

0.06 per visitors it's quite

oversimplified but I found it to be very

relevant to see if there is some kind of

Market fit if I get somewhere above

$0.5 per visitor I think it's a product

that's worth focusing on otherwise it's

good to just let it run by itself fix

some bugs be there for customer support

if needed and just move on to the next

one until you find the product that hits

big in the last two years I started to

ship my startups in days sometimes week

instead of month and my Revenue went

from $1 and $2,000 a month to now about4

to $50,000 a month I think speed is the

entrepreneurs best friend and these

video summarize everything I do in order

to ship fast if you like the video you

can like the video and if you love the

video you can subscribe to the channel

if you're looking for another video I

made one about how I got my first

customer for a software I did not create

you can check that out all right

cheers