Unfortunately, yesterday was tough for me—I got laid off due to organizational restructuring. This is the second time I’ve faced this situation, but I’m staying positive.
I’m 24, with about three years of work experience, and I’m now thinking about starting my own venture instead of falling into the job search cycle again.
Fortunately, I have a six-month financial cushion. My plan is to build a SaaS product (even though I don’t have prior experience) and try to earn some income before my funds run out. This would greatly boost my confidence and help me take on bigger risks in the future.
I’m ready to put in the effort, but I need guidance on how to direct my energy effectively. I’d really appreciate any suggestions you might have.
I’m sorry to hear that.
If you have never built a SaaS product before, you might think about finding a new job to earn a consistent income while simultaneously developing your product until it gains traction.
Without any prior experience, your prospects of replacing your 9–5 job with a SaaS are fairly slim. Don’t spend all of your savings. This is nothing new to me. You don’t have to invest everything. Get a new job, and use your leisure time to continue developing your SaaS now that you have firsthand knowledge that job stability is a fantasy. Take full-time employment into consideration only after your product begins to generate revenue and meets your fundamental necessities. Wishing you luck!
Engage in conversation. similar to what I just done. Approach strangers you meet online and strike up a conversation.
+1 I also suggest doing this. You will feel more motivated in a shorter amount of time by conversing with people as it greatly stimulates the intellect. That makes sense, of course, given that you don’t talk to people when you’re sad or depressed.
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Research: Visit Acquire.com to find successful apps that are performing well.
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Develop: Create a similar app, especially if it’s in a high-demand market with big players.
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Test: Thoroughly QA and beta test your app to ensure it works smoothly.
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Market: Launch your app using platforms like Product Hunt, AppSumo, and social media. Optimize for Google Search/SEO.
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Grow: Focus on building up your Monthly Recurring Revenue (MRR) and user base.
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Evaluate: Once you’ve achieved significant growth, either continue scaling or consider flipping it on Acquire.com.
This should give you a solid framework to start with. Good luck!
Just be careful not to depend only on this as your source of income. Anything new is dangerous by nature. I believe it’s a wonderful idea to start with issues in a sector of the industry you are already familiar with. You’ll save a tonne of time by studying for yourself and hosting.
Prior to writing the first line of code, begin marketing. You may have something that customers are willing to pay for if the product page can get them to join a launch list.
However, in a short amount of time, I would concentrate on speaking with business owners directly to learn about their needs and whether they would be prepared to pay for a solution. Consult several proprietors in the same niche rather than focussing just on one piece of information.
Make a personal branding on YouTube. You won’t be down again until you’ve taken off, which will take one to two years.
Now let’s move!