Most of the software product companies in India are bootstrapped founded by solo entrepreneurs.
As a solo founder, you don’t want to raise money for tons of reasons. Raising money and recruiting an A-team require experience which many of the solo founders lack at initial stages.
You would rather prefer to hone your skills by building a great product and growing revenues.
Long story short, bootstrapping a business is great but when it comes to growing it, the struggle hits hard! Even After 3 to 6 months in business, it is hard to get initial customers. And whatever 1 or 2 customers you get these are not enough to take care of your expenses and bread-and-butter…
“bootstrapped SaaS businesses often take 18 months before they’re profitable enough to be competitive with reasonable wages for the founding team”
— Patrick MacKenzie
As Patrick McKenzie stated, “bootstrapped SaaS businesses often take 18 months before they’re profitable enough to be competitive with reasonable wages for the founding team”. During that time, your marketing budget equals to zero. However, the reality for venture capital-backed SaaS businesses is different as they “are designed to trade cash for growth, which means they’re designed to lose a lot of money upfront while perfecting their model; almost no funded SaaS business ever has failed at that goal”.
To avoid being trapped in a slow “word-of-mouth” growth, you have to find a quick way to get a large amount of money from your first few hundred users. One popular option is offering a “lifetime deal” to your early adopters. Usually, lifetime deals come at a highly discounted price to induce an air draft of new customers.
To run such a deal at scale, you can partner with a distribution firm specialized in promoting tech lifetime deals. The most popular platform is RightApp4U. RightApp4U is cherry-picking tech products for their community of 100k+ members which include Chartered Accountants, Company Secretaries, Architects, Interior Designers, Other Professionals, Entrepreneurs etc.
The deal is quite simple and is nearly non-negotiable: people can purchase a LIFETIME DEAL to use your product for ₹9900. That means that for a highly discounted price, people get a lifetime access to your product. In order to satisfy bigger firms, the deals get stackable. If you do your own lifetime deal, you will likely end up with just a few sales and a lot of energy wasted.
In short, RightApp4U allows you to multiply your user base, get a significant amount of money and all this with little effort: after a quick call and few emails, everything gets ready for the launch! Also, the RightApp4U team will provide you with great feedback in order to make your product look better.
The RightApp4U deals run for two intense weeks. First, your product is soft launched. The RightApp4U team writes an article to present your product on their platform. Even without any promotion, you will get a few hundred people popping up on your website and frantically asking questions.
After one week, the RightApp4U team sends an email and features the deal. Here starts the madness: you constantly get more than 100 active users during the whole day 🔥 In the same time, RightApp4U promotes the deal through Facebook, Google, and other ads to spice things up! 48H before the end of the deal, a recap email reminds people to get the deal before it’s over.
Promoting your product on RightApp4U is also a good way to get tons of feedback from new users who actually use your product and paid for it. In two weeks, be ready to see your roadmap backlog tenfold!
Disclaimer: RightApp4U is a brand of Mittaltiger Enterprises.