3 builders who never spoke to each other

Compare the project types before you pick one

An information product is the safest route to some revenue, a business-facing tool has the highest ceiling and needs cash and a team to survive its first years, and a consumer app is the most fun and least likely to work. Buying a small existing product is a fourth option, and sometimes the right answer is not software at all.

The method

1. 01

   Compare candidate project types by their risk profile before choosing: an information product is the safest route to some revenue, a business-facing product has the highest ceiling, and a consumer app is the most enjoyable and least likely to work.

2. 02

   Assume a subscription software business needs a team and up-front cash to survive its first couple of years, and pick a different model if you want neither.

3. 03

   If you can put a few thousand dollars at risk, look at buying a small existing product before starting one, because the model is already proven, customers are already there and the machinery already runs.

4. 04

   Stay open to the answer not being software at all - sometimes the right product for a customer is a book or a better paper process.

5. 05

   Prefer a product that is configured once and then keeps delivering on its own over one the customer must log into daily.

What it returned

• 2018

  Zue laid out exactly these three options for his 2018 project choice with those tradeoffs attached.

• 24

  Almost every SaaS company Justin knows above seven figures of revenue has a team, and most need significant cash to get through the first 24 months.

• Places he points to for buying: Exchange Marketplace, IndieMaker, SideProjectors, NoCodeExchange, Empire Flippers and BizBuySell, with Flippa noted as crowded and full of scams.

• Storemapper customers install and customise once, after which the locator keeps sending traffic and sales to their shops

Sources

• The $122Bn SEO Industry: 32 Success Stories (with Revenue Numbers) for 2024 - Detailed.comGlen Allsopp · detailed.com · Moz – $60M in Annual Revenue · 2023-01-23
• ⭐️ The different kinds of humble businesses you can build – Jakob GreenfeldJakob Greenfeld · jakobgreenfeld.com · Buying an existing asset vs. building something from scratch · 2020-07-20
• SaaS is ripe for disruptionJustin Jackson · justinjackson.ca · Should you start a SaaS in 2016? · undated
• We are not normal peopleJustin Jackson · justinjackson.ca · We are not normal people · undated
• Chapter 2: What Makes A Good Micro-SaaS Idea? - Tyler TringasTyler Tringas · tylertringas.com · Focus on Automation · 2016-10-28
• My Plans and Goals for 2018Cory Zue · coryzue.com · My Q1 plans · 2018-01-02