Build Your SaaS

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Podcasting
**Build Your SaaS**

Follow the journey of Transistor.fm as they bootstrap a podcast hosting startup.

Latest Episodes:

There's a new funding option for bootstrapped founders Nov 06, 2018

Show notes

Tyler Tringas recently announced Earnest Capital; a new way for bootstrappers to raise money for their startups.

Should Jon and Justin consider this type of funding for Transistor?

What do you think?

Leave a comment on Breaker, the podcast app for Android and iPhone.
Leave a comment on CastBox, the podcast app for Android and iPhone.
Leave a comment on Tung.fm
Otherwise, get us on Twitter: @transistorfm or email us: mail@transistor.fm
Create your own podcast at transistor.fm

Show notes:

Thanks to our Patreon supporters:

Mike Walker
Brad from Canada
Darby Frey
Kevin Markham
Adam Duvander
Dave Giunta

Thanks to our monthly supporters

Rewardful.com
Mitchell Davis from sixsides.co
Bill Condo (@mavrck)
Ward from MemberSpace.com
Evandro Sasse
Austin Loveless
Michael Sitver
Dave Giunta

🎙️ Podcast hosting is provided by Transistor.fm.
📺 Learn how to start your own podcast!

★ Support this podcast on Patreon ★

Your startup's expenses are too high Oct 30, 2018

Show notes

How much does it cost to run a SaaS in 2018? We take a look at our bootstrap expenses.

Every business accrues monthly expenses. The danger? Business owners can get in the habit of spending money, believing that "you gotta spend money to make money."

Transistor's expenses

Start up:
- Logo and branding: $2,500
- Stripe Atlas: $500
- Legal: $366.45
Monthly expenses:
- Editing: $320 / month
- AWS: $300 / month
- Media: $60 / month
Yearly expenses:
- Domain: $100 / year
- Incorporation: $200 / year
- Accounting: $2k / year

What do you think?

Leave a comment on Breaker, the podcast app for Android and iPhone.
Leave a comment on CastBox, the podcast app for Android and iPhone.
Leave a comment on Tung.fm
Otherwise, get us on Twitter: @transistorfm or email us: mail@transistor.fm
Create your own podcast at transistor.fm

Show notes:

Patio11's reply to Justin's tweet: "It is far, far, far easier to create something that will increase the revenue of your business by $200 a month than it is to squeeze $200 out of the expenses."
Our branding designer is Dylan Wells.
Thang Pham

Thanks to our Patreon supporters:

Brad from Canada
Darby Frey
Kevin Markham
Adam Duvander
Dave Giunta

Thanks to our monthly supporters

Rewardful.com
Mitchell Davis from sixsides.co
Bill Condo (@mavrck)
Ward from MemberSpace.com
Evandro Sasse
Austin Loveless
Michael Sitver
Dave Giunta

🎙️ Podcast hosting is provided by Transistor.fm.
📺 Learn how to start your own podcast!

★ Support this podcast on Patreon ★

How'd you get into computers? (Apple II, PC clones, BBSes, CYBERSPACE) Oct 23, 2018

Show notes

If you used computers in the 80s and 90s you're going to love this episode.

Apple IIe in the school computer lab
The original Macintosh
"I wanted an Amiga so bad!"
The BBS scene: Wildcat, Roboboard/FX, being a SySop
Compuserve and AOL
Tandy 1000, 386, 486, building your own Pentium
Fave games: Commander Keen, King’s Quest, Wolfenstein, Doom, Duke Nukem, Raptor, Apogee Games
Our first websites: high school swim team website, snowboarding website (with a guestbook)
Our first computer businesses

It's a fun one. ;)

What do you think?

Leave a comment on Breaker, the podcast app for Android and iPhone.
Leave a comment on CastBox, the podcast app for Android and iPhone.
Leave a comment on Tung.fm
Otherwise, get us on Twitter: @transistorfm or email us: mail@transistor.fm
Create your own podcast at transistor.fm

Show notes:

PC Magazine: the forgotten world of BBS door games
Jon’s first computer: Compuadd
Justin posted this on a usenet group in 1994: Absolute Future BBS!
Justin’s first web company: Mediahead Productions
Jon’s first web company: Creatively Aware
Jon’s TV recommendation: Halt and Catch Fire (NY Times review)

Thanks to our Patreon supporters:

Darby Frey
Kevin Markham
Adam Duvander
Dave Giunta

Thanks to our monthly supporters

Rewardful.com
Mitchell Davis from sixsides.co
Bill Condo (@mavrck)
Ward from MemberSpace.com
Evandro Sasse
Austin Loveless
Michael Sitver
Dave Giunta

🎙️ Podcast hosting is provided by Transistor.fm.
📺 Learn how to start your own podcast!

★ Support this podcast on Patreon ★

You forgot $20,000 in your snowboard pocket Oct 10, 2018

Show notes

Here we are at episode 30! Just found this old 2012 interview with the founder of MailChimp, before they became a $4.2 billion company. This quotes is awesome:

Back in 2001, we had multiple customers who needed help sending their email newsletters. They were using really big, expensive, bloated software. We had some “scrap code” lying around, so we modified the code and turned it into an email newsletter app for them. We opened it up to the public, set up some Google Adwords, and basically forgot about it. Then, in 2005, we noticed it was a better business than our web-dev agency so we decided to take all of 2006 to wind down the agency business and beef up MailChimp’s features. We officially hit the “reset button” in 2007 and became a product company.

More recently, MailChimp was in Forbes:

Ben Chestnut and his cofounder, Dan Kurzius, have both profited richly from their patience. With $600 million in revenue, Mailchimp is in the black and has more than doubled its estimated valuation to $4.2 billion in the last two years, giving Chestnut, 44, and Kurzius, 46, its sole owners, stakes worth $2.1 billion each.

Even more interesting for us:

Mailchimp, launched in 2001 and remained a side project for several years, earning a few thousand dollars a month. Then in 2007, when it hit 10,000 users, the two decided to commit full-time.

This was the part that surprised me: MailChimp was a side-project for 6 years (earning just a few thousand to start).

Especially interesting in light of this DHH quote I shared in a previous episode:

If it takes five years to get to the point where the business can pay two salaries, it's possible that the business isn't destined for that long-term.

Bootstrappers need to be more patient! (And maybe keep their day job)

What do you think?

Leave a comment on Breaker, the podcast app for Android and iPhone.
Leave a comment on CastBox, the podcast app for Android and iPhone.
Leave a comment on Tung.fm
Otherwise, get us on Twitter: @transistorfm or email us: mail@transistor.fm
Create your own podcast at transistor.fm

Show notes:

Thanks to our Patreon supporters:

Darby Frey – LeadHonestly.com
Kevin Markham
Adam Duvander
Dave Giunta

Thanks to our monthly supporters

Rewardful.com
Mitchell Davis from sixsides.co
Bill Condo (@mavrck)
Ward from MemberSpace.com
Evandro Sasse
Austin Loveless
Michael Sitver
Dave Giunta

🎙️ Podcast hosting is provided by Transistor.fm.
📺 Learn how to start your own podcast!

★ Support this podcast on Patreon ★

You drew a prototype on that napkin from Portland Oct 02, 2018

Show notes

After one failed attempt, we're back with a new episode. Sorry it's late!

"We, as the customer, are paying people who make apps so that their good work continues."

Responses from last week's episode: "What should our one main metric be for our SaaS?"

Adam: “Don’t focus on MRR. That’s a cop out. Focus on increasing downloads.”
Daniel: “Justin should get out and sell like crazy.”
Colin and others said: “Re-examine your pricing.”

What do you think?

Leave a comment on Breaker, the podcast app for Android and iPhone.
Leave a comment on CastBox, the podcast app for Android and iPhone.
Leave a comment on Tung.fm
Otherwise, get us on Twitter: @transistorfm or email us: mail@transistor.fm
Create your own podcast at transistor.fm

Show notes:

Justin starts his own Patreon: "I want to keep writing and podcasting honestly no matter what."
MxPx's Kickstarter
CaddyServer – “Caddy is the HTTP/2 web server with automatic HTTPS.”
Please review us on iTunes – it helps other folks find the show!

Thanks to our Patreon supporters:

Kevin Markham
Adam Duvander
Dave Giunta

Thanks to our monthly supporters

Rewardful.com
Mitchell Davis from sixsides.co
Bill Condo (@mavrck)
Ward from MemberSpace.com
Evandro Sasse
Austin Loveless
Michael Sitver
Dave Giunta

🎙️ Podcast hosting is provided by Transistor.fm.
📺 Learn how to start your own podcast!

★ Support this podcast on Patreon ★

What's the most important metric for a web app? Sep 25, 2018

Show notes

What do you think?

Leave a comment on Breaker, the podcast app for Android and iPhone.
Leave a comment on CastBox, the podcast app for Android and iPhone.
Leave a comment on Tung.fm
Otherwise, get us on Twitter: @transistorfm or email us: mail@transistor.fm
Create your own podcast at transistor.fm

Show notes:

Startups for the Rest of Us – EP260 “The one metric that matters”
Nathan Barry – Solving the cash problems from self-funding rapid growth
Nathan Barry – From losing money to a 51% profit margin in 5 months
CaddyServer – “Caddy is the HTTP/2 web server with automatic HTTPS.”
Please review us in iTunes – it helps other folks find the show!

Thanks to our Patreon supporters:

Kevin Markham
Adam Duvander
Dave Giunta

Thanks to our monthly supporters

Rewardful.com
Mitchell Davis from sixsides.co
Bill Condo (@mavrck)
Ward from MemberSpace.com
Evandro Sasse
Austin Loveless
Michael Sitver
Dave Giunta

🎙️ Podcast hosting is provided by Transistor.fm.
📺 Learn how to start your own podcast!

★ Support this podcast on Patreon ★

We have some explaining to do Sep 18, 2018

Show notes

Jon and Justin are back from Portland and the XOXO festival.

In the last few weeks we've had a chance to interact with many of our customers in-person:

Nate Smoyer – "I’ve been using the podcast as a prospecting tool. Signed one dreams client two weeks ago. Interviewed with one yesterday. Got invited to lead a panel and live podcast for an industry event."
Kyle Marshall – Kyle's creating multiple shows for MediaLab in Calgary.
Matt Cassinelli and Alex Cox have a new podcast called Supercomputer.
Jaime Macías has a great show called Open Tabs.

How big is the podcast market?

How many podcasts are there? Over 550,000 shows on iTunes and over 18.5 million episodes.
64% of the US population is familiar with the term “podcasting” – up from 60% in 2017 (Infinite Dial 18)
44% (124 million) of the US population has listened to a podcast – up from 40% in 2017 (Infinite Dial 18)
26% (73 million) listen to podcasts at least every month – up from 24% in 2017 (Infinite Dial 18)
17% (48 million) listen to podcasts weekly – up from 15% in 2017

We recorded this episode live

What do you think?

Leave a comment on Breaker, the podcast app for Android and iPhone.
Leave a comment on CastBox, the podcast app for Android and iPhone.
Leave a comment on Tung.fm
Otherwise, get us on Twitter: @transistorfm or email us: mail@transistor.fm
Create your own podcast at transistor.fm

Show notes:

Thanks to Kevin Markham for being our first Patreon supporter! Also thanks to Adam Duvander and Dan Weaver.
Back from XOXO 2018
Justin's bootstrapping articles
Twitter poll: What are most podcasts doing wrong?
Seth Godin's podcast Akimbo
"Branded podcasts are ads people actually want to listen to" - Fast Company
Please review us in iTunes – it helps other folks find the show!

Thanks to our monthly supporters

Rewardful.com
Mitchell Davis from sixsides.co
Bill Condo (@mavrck)
Ward from MemberSpace.com
Evandro Sasse
Austin Loveless
Michael Sitver
Dave Giunta

🎙️ Podcast hosting is provided by Transistor.fm.
📺 Learn how to start your own podcast!

★ Support this podcast on Patreon ★

Your revenue forecast is wrong Aug 28, 2018

Show notes

What does "bootstrapping" mean really?

For most folks, bootstrapping means self-funding your business from revenues. It means not taking Venture Capital, not taking Angel funding. It's a little bit of a religion and like so many religions different people have different definitions of what it takes to "fit in." Some people say you can't even take money from friends and family. If you take any outside money, you're no longer a part of the bootstrappers club.

We recorded this episode live

What do you think?

Leave a comment on Breaker, the podcast app for Android and iPhone.
Leave a comment on CastBox, the podcast app for Android and iPhone.
Leave a comment on Tung.fm
Otherwise, get us on Twitter: @transistorfm or email us: mail@transistor.fm
Create your own podcast at transistor.fm

Show notes:

Thanks Tyler Tringas!
Article: Bootstrapper's Paradox (on Indie Hackers)
Getting Real by 37signals
Tool: Forecast your MRR revenue
Natalie Nagele's tweet
Joel Gascoigne's tweet
Watch our live Twitch recording (or watch on YouTube)
Please review us in iTunes – it helps other folks find the show!

Thanks to our monthly supporters

Rewardful.com
Mitchell Davis from sixsides.co
Bill Condo (@mavrck)
Ward from MemberSpace.com
Evandro Sasse
Austin Loveless
Michael Sitver
Dave Giunta

🎙️ Podcast hosting is provided by Transistor.fm.
📺 Learn how to start your own podcast!

★ Support this podcast on Patreon ★

The problem with podcasts Aug 21, 2018

Show notes

Nick Quah shared this in his recent newsletter, commenting about podcasts:

[I have] this feeling that everybody’s drilling for oil in the same spot because some other guy found oil there already.

Nick thinks podcasters have two options:

Build something that does the same thing for the same audience, but do it better. If this is the case, he says, “you better bring it.”
Or, “identify and pursue a pocket of pent-up demand that has yet to be unleashed.”

Note: apologies about Justin's audio in this episode! We'll fix that for next time.

What do you think?

Leave a comment on Breaker, the podcast app for Android and iPhone.
Leave a comment on CastBox, the podcast app for Android and iPhone.
Leave a comment on Tung.fm
Otherwise, get us on Twitter: @transistorfm or email us: mail@transistor.fm
Create your own podcast at transistor.fm

Show notes:

Why many products struggle, and only a few succeed
Clubhouse.io – Jon's new project management software for Cards Against Humanity.
Perennial Seller by Ryan Holiday
Alitu – edit your podcast in the browser
Podcast Royale – Adam Clark's podcast production company
Auphonic – automated audio post-production
ProfitWell – SaaS metrics
Stripe's built-in SaaS metrics
Watch our live Twitch recording (or watch on YouTube)
Please review us in iTunes – it helps other folks find the show!

Thanks to our monthly supporters

Rewardful.com
Mitchell Davis from sixsides.co
Bill Condo (@mavrck)
Ward from MemberSpace.com
Evandro Sasse
Austin Loveless
Michael Sitver
Dave Giunta

🎙️ Podcast hosting is provided by Transistor.fm.
📺 Learn how to start your own podcast!

★ Support this podcast on Patreon ★

What's a good conversion rate for a web app? Aug 14, 2018

Show notes

SaaS conversation rate cheatsheet:

Credit card upfront:

Visitor to trial: 0.75% - 1%
Trial to paid: 40% - 60%

No credit card upfront:

Visitor to trial: 5%+
Trial to paid: 8% - 20%

Transistor's conversion rates since launch:

Total traffic since launch: 40,162 unique pageviews, 11,614 visitors
Total new trials since launch: 32 (out of 49 active trials total)
Conversion %(visitor to trial): 0.3% (should be 0.75% - 1%)
Conversion %(trial to paid): 8.9% - 16.7% (should be 40% - 60%)
- July was 17.9%
- June was 29.6%
- May was 48.7%

What do you think?