What happened after Simon went full time on his SaaS?
Episode
52 min
Read time
2 min
Topics
Productivity, Relationships, Fundraising & VC
AI-Generated Summary
Key Takeaways
- ✓Full-time transition impact: Going full-time on a SaaS after three years of side-hustle work creates immediate revenue acceleration, but requires managing family stress from dual workloads and late-night grinding sessions that strain relationships before the leap.
- ✓Growth attribution challenge: Word-of-mouth emerged as a major channel through onboarding surveys using Refiner, revealing customers discovered Snapshooter through Facebook groups and recommendations that were completely invisible until directly asking new signups about their source.
- ✓Competitor price increase opportunity: When a direct competitor raised prices, aggressive Twitter marketing combined with an optimized alternative comparison page ranking in search results generated immediate phone calls, meetings, and customer migrations within days.
- ✓Financial margin threshold: Reaching five-figure monthly recurring revenue creates psychological permission to relax hustle intensity, even when total compensation remains below previous employment levels, because the business proves sustainable viability and reduces existential anxiety about survival.
What It Covers
Simon Bennett shares his journey seven months after going full-time on Snapshooter, revealing how he doubled monthly recurring revenue in 2020 through focused effort, word-of-mouth growth, and strategic positioning against competitors.
Key Questions Answered
- •Full-time transition impact: Going full-time on a SaaS after three years of side-hustle work creates immediate revenue acceleration, but requires managing family stress from dual workloads and late-night grinding sessions that strain relationships before the leap.
- •Growth attribution challenge: Word-of-mouth emerged as a major channel through onboarding surveys using Refiner, revealing customers discovered Snapshooter through Facebook groups and recommendations that were completely invisible until directly asking new signups about their source.
- •Competitor price increase opportunity: When a direct competitor raised prices, aggressive Twitter marketing combined with an optimized alternative comparison page ranking in search results generated immediate phone calls, meetings, and customer migrations within days.
- •Financial margin threshold: Reaching five-figure monthly recurring revenue creates psychological permission to relax hustle intensity, even when total compensation remains below previous employment levels, because the business proves sustainable viability and reduces existential anxiety about survival.
Notable Moment
Simon reveals that copycat competitors performing shady practices initially kept him awake at night with anger, but after cooling down, the rage became his primary motivation to accelerate product development and business growth throughout the year.
Episode Transcript
This podcast is hosted by transistor dot f m. Hey, everybody. Welcome to what build your SaaS. This is the behind the scenes story of building a web app, bootstrapping your own thing, getting to a significant amount of revenue so that you can quit your day job. And, this week, John is away, but I caught up with Simon Bennett of snapshooter.io. I last spoke to him in May, I believe, right when the the pandemic was kind of in full force. And, I thought it would be a good idea to catch up, see what has happened since then. He had just quit his day job. Yeah. Let's see how things have developed since then. So, Simon, the last time we chatted, I think, was seven months ago. Yes. May. Yes. Just after I'd gone full time. Or You just gone Quit my job. Yeah. You just gone you you like, you were going full time the next morning on and you were you're going full time on Snap Shooter. Yeah. How how long have you been working on Snap Shooter up until that point? It started in February 2017. So coming up to the four year anniversary soon. Okay. So it it was about three years to get you to the point where you could go full time? Yep. That's right. Yep. So I took the leap a little bit earlier just due to circumstances with COVID and family and having essentially two jobs. But it's it seems to have paid off. Yeah. Yeah. So since you went full time Mhmm. How's it been? Are you living the bootstrapper's dream or what? I don't know what the bootstrapper's dream is, but, revenue has definitely increased, and the and the trajectory of revenue has sort of increased, from when I quit, if that makes sense. So it'll there's some sort of correlation between putting more effort in and getting more reward out. Oh, interesting. Because that's not always the case. Sometimes people quit Mhmm. And what they find is that even though they have all this extra time and all this extra energy, it doesn't actually move the needle that much. But for you, you feel it has. Yes. So while maybe not like I don't know. There's a bit of lag in the revenue charts or whatever, but it it definitely feels like it's been key. I had a lot more time to think from a more zoomed out perspective of the business. So I think that's that's been probably the best thing about it. Yeah. And can you give us a sense of, like, how are you're how you're doing revenue wise? I like, I've doubled revenue this year. You've doubled revenue in 2020? Yes. Yep. Yep. Monthly recurring revenue has doubled here. Wow. So so pretty successful year for you. Yes. Yes. Definitely. And and you're just saying most of that growth happened once you decided to, go full time. One yes. So I decided …
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“Word-of-mouth emerged as a major channel through onboarding surveys using Refiner, revealing customers discovered Snapshooter through Facebook groups”
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“Simon Bennett shares his journey seven months after going full-time on Snapshooter, revealing how he doubled monthly recurring revenue in 2020”
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