From a Failing Referral SaaS to $25k MRR Fully Bootstrapped

GrowSurf's story + the launch of my new startup, Scouth.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

🎉 Hey Failories! It's Nico here.

3 new interviews this week (two with successful startups, one with a failed one), the launch of Scouth and a few articles for entrepreneurs. Let's start!

news & interviews 📢

🚀 Scouth, my new startup. Launching today, Scouth is a productized headhunting service, finding Argentinian talent for startups.

Scouth's idea born out of my personal challenges finding talent for Failory. As Failory's revenue is still low, I can't afford to pay US or European wages. That's why I've repeatedly tried to find talent in other parts of the world.

You can imagine, though, that if finding talent locally is difficult, finding it in another country is even harder. That's what Scouth takes care of.

If you're interested in delegating part of your business for $600 to $1,000 per month, check out Scouth (first 3 startups get a 50% discount). If, instead, you want to see how I build it in public, bookmark this Twitter thread.

💵 This referral SaaS went from almost failing to $25k in MRR. After one year of running, GrowSurf had 0 customers. Nowadays, they are a profitable business with the goal of reaching $1M in ARR.

The fuel of this B2B SaaS business is a mix of product improvements, better positioning, social proof and search engine optimization. Here's their pivoting and growth story.

💀 Failing to build a profitable marketplace. Marketplaces are among the most difficult businesses to start and grow. Things get even harder when it's your first take on entrepreneurship.

Michael suffered this challenge on his own. Developing the marketplace was the easy part; validating it was the hardest. Once launched, he didn't stay focused on it and eventually decided to move on. Here's LocalTown's failure story.

 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

🤖 Growing a no-code ad production tool to $50k/mo. It's undeniable that no-code is here to stay. In the last 3 years, a lot of no-code tools have surged, in every imagined niche.

Viewst is one of these, focused on the advertising industry. They have tried a ton of user acquisition channels, being the latest one a lifetime deal on Appsumo. Their goal: $1M in ARR in 2021. Here's their story.

❌ 57 failed Amazon projects. And the reasons behind each of these. On our Amazon Cemetery, you can find all these projects. However, if you just want to find the names, an image and a three-word explanation on why they failed, I suggest you to check this article we published this week.

what I'm reading 👀

Shein, the TikTok of Ecommerce. A huge analysis of the Chinese eCommerce, which has lately gained a lot of popularity among Gen Z and did around $10 billion in revenue in 2020.

Earning 15% APYs with Yearn. I don't generally write about crypto in this newsletter, but I really liked this simplified explanation of how does Yearn works and how can you get a return of 15%/year with low-risk.

Regret Minimization Framework. Jeff Bezos, on the framework / mental mode he used to decide on resigning to his full-time job to start Amazon.

Productized Services, by Trends.vc. I went over this analysis again, while building Scouth. I think there are lots of business opportunities to be made with this business model.

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That's all! I hope you've enjoyed this week's interviews and resources.

Let me know if there's anything I can help you with.

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Older messages

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💵 Burning $55K by Confusing Market Validation with Market Hype

Thursday, April 29, 2021

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