How to Reach $10K MRR for SaaS (from a 7 Figure tech Entrepreneur)
I recently read a LinkedIn article by Udit Goenka, a 7 figure tech entrepreneur and founder of Pitchground and Firstsales.io.
He shared some fascinating insights on building a tech startup and reaching a target of $10K MRR.
The points were so good that I cannot help but share them with you.
Here are the excerpts from the Article; I hope it helps you.
People often need help to reach the $10,000 to $20,000 in MRR, or it takes them two years.
However, the author has generated around $10 million selling SaaS in the last four years and bootstrapped everything under their SaaS marketplace PitchGround & his own SaaS FirstSales.io.
He shared simple strategies for hitting the first $10,000 to $20,000 in MRR in less than six months.
These strategies can be applied to most online niches but work best for SaaS.
The first strategy is to build in public on Twitter, LinkedIn & Reddit.
However, the author advises against building a startup in stealth mode, as it wastes many marketing opportunities.
The second strategy is to create five types of content frameworks.
1 . A weekly giveaway post for the product,
2. Creating content behind the sign-up wall,
3. Creating one reel per day, two tweets per day,
4. 1 Twitter thread per week, 1 LinkedIn post per day & 1 YouTube long-form video per week.
5. The author also suggests creating valuable content around product categories and doing one collaboration post each week.
The third strategy is to create a community.
The author suggests building a community at least six months before launching the product and waiting to launch until 2k members have been reached in the community.
This strategy alone can help reach $10k in MRR within weeks of launching the product because trust has already been built with the audience.
The fourth strategy is to narrow down the use cases and outreach.
For the first 6–12 months, the author advises narrowing the use case to focusing on just 1–2 ICPs at the most and ensuring all copy revolves around that niche.
They then suggest using LinkedIn Sales Navigator to narrow the ICP and scraping that data, putting it in an email enrichment tool to get the email, and using FirstSales.io to launch an outreach campaign.
The final strategy is to collaborate with a few micro-influencers.
The author states that this is a highly underrated strategy as everyone wants a big launch, but advises launching the product/services multiple times with multiple micro-influencers, even if it generates as low as 5–10 customers.
The author concludes that if these strategies are implemented, they can guarantee to build a $10,000 MRR to $20,000 MRR business in no time.
However, they remind us there is no shortcut to hard work and producing results if one wishes to choose the path of entrepreneurship.
P.S. You can follow Udit Goenka in linledin :
Follow me on medium; I write on topics like SaaS Marketing, Online Business, and Sales Funnel Strategies.
Hit the “subscribe to email” button to get updates every time I publish a new article.
Want to reach out to me? Check out my profile.
I Help SaaS & B2B Scale Fast using Sales Funnel Strategies.