I Built a $1M AI App [No Code]

Starter Story

11 Feb 202416:13

Summary

TLDRDavid built an AI-powered Excel add-on called Formula Bot while working a full-time job and taking care of a newborn. With no coding experience, he used Bubble.io to create it in just weeks. He launched it on Reddit, got 10K upvotes, and quickly amassed thousands of free users. However, AI costs ran up a $5K bill. Donations and sponsors funded keeping it running. He later added paid subscriptions. With competitors replicating his product, Microsoft wanting to integrate it into Excel, and ChatGPT offering free AI, David aims to make Formula Bot indispensable by continuously enhancing its unique convenience and customization.

Takeaways

😊 David built an AI app called XL Formulabot to help people work faster and smarter with data in Excel and Google Sheets
👨‍💻 With no coding experience, David built the initial MVP in just a couple weeks using the no-code platform Bubble
🔥 The app went viral on Reddit, getting 10K upvotes and thousands of users overnight
💸 After a $5K AWS bill, David added donations and sponsorships to recoup costs and keep the app running
📈 David iterated on the product based on customer feedback, expanding beyond just a formula generator
😮 Microsoft tried to hijack David's idea by offering to build it into Excel for free
🤔 Realizing chatGPT and Microsoft could replicate his product, David focused on convenience, customization and new features
📊 The app now has 750K users with 5K paying for unlimited access, bringing in $250K in MRR
⏱ David built his business while working a full-time job, dedicating just a couple hours a day
🚀 The key was finding a real problem to solve and learning through YouTube instead of coding skills

Q & A

What was the initial idea David had for his app Excel Formula Bot?
-David's initial idea was to build an app that could help people with Excel, specifically to generate Excel formulas for them automatically using AI. This would help him address the frequent requests for Excel help he was getting in his full-time job.
How did David manage to build the initial version of his app with no coding experience?
-David used a no-code development platform called Bubble.io to build the initial MVP version of his Excel Formula Bot app. He learned how to use Bubble mainly through YouTube tutorials.
How did David get his first users and make the app go viral?
-David posted about his app on Reddit Excel and InternetIsBeautiful subreddits. The posts received thousands of upvotes and drove thousands of people to start using his app, making it go viral.
What challenges did David face after the app went viral?
-After the viral launch, David faced a $5,000 bill from the OpenAI API usage. He had to consider shutting down the app or finding ways to make money from it to keep it running.
How did David start monetizing his app?
-A few months after launch, David introduced a paywall with login access and subscriptions. He also experimented with donations, sponsorships and ads earlier on to recoup some costs.
How did David get product feedback to improve Excel Formula Bot?
-In addition to scratching his own itch, David proactively asked for feedback from users he worked with. He also engaged directly with users emailing him with Excel questions, using it as an opportunity to get insights.
What was David's broader vision for the product beyond just a formula generator?
-Based on user feedback, David expanded the scope to build an all-in platform for data analytics, going beyond just formula generation to reporting, analysis etc.
How did David differentiate from competitors and chatGPT?
-David focused on convenience, customization and capabilities specifically for Excel that chatGPT did not have. His latest Data Analyzer product aims to solve needs chatGPT cannot address.
What deal did David strike with Microsoft related to his product?
-Microsoft offered to feature David's Excel Formula Bot as a free add-on in Excel. But David realized this would limit his product's capabilities, so he declined and is building independent capabilities.
What is David's vision for his product going forward?
-David aims to keep building features and products focused specifically on Excel and Google Sheets that cannot be easily replicated by chatGPT or Microsoft, cementing his positioning in that niche.