SaaS Series : How to get $10k ARR : Insights and Strategies for Emerging Entrepreneurs

Photo by Giorgio Trovato on Unsplash

For those striving to reach $10K in Annual Recurring Revenue (ARR), I’d like to share my journey towards achieving $10K. My experience has taught me what’s essential and what’s not in this exciting yet challenging endeavor.

Focus on What Truly Matters

Early on, it’s easy to get caught up in superficial aspects like company logos or pricing strategies. However, these are trivial in the grand scheme. Don’t let competition intimidate you; forge your own path. For instance, our website revamp has been delayed for four months, but I’ve chosen to focus on other priorities, trusting my team to handle it.

Prioritize Cash Flow and Customer Wins

Focus on the very small things like finding the right customers, As a CEO this is what i am doing now. Hustle hustle and focus only on one things ‘Cash Flow’ . Create trust with your current set of customers, Focus mainly on how to get your customers to win. Dont focus on competition, you need to know what they are building but leave it at that

Identify the right TG ( Target Group)

Talk to as many customers as possible

1. Create personas
2. Target horizontal and vertical solution.
3. Look at early adopters
4. Try to look at customers from USA or other countries to improve cashflow
5. Keep feedback loop with customers, work very closely with them. Know whats happening end to end
6. What kind of customers are converting and why is it so?
7. Who is the buyer and atual user of the product. In our case something like performance marketeers is the user and founder or agency is the buyer

Lead Creation and reaching to them

Also one thing that we need to note is that founders have to get in front of customers and get in front of them. We also need to get a lead pipeline on , reach out on linkedin etc. Ask for customer references, friends and family references would be needed too. Also for each new customer write separate email, don't make it same for all.

Be creative with your email marketing. Find what would tick them and reach out. Ask for introduction with common friends.

How to Sell : Sales Strategies

In our case, a compelling product demo is key to conversion. Leverage your unique experiences and expertise. Be prepared to demonstrate your product anytime, anywhere.

Product Development

1. Product features has to service more than 50% of customers. Never make it for one customer.
2. Never deviate from product directions. Focus and build and go where you have to
3. The customer asking for product has to use the product. Unlike one of our customer for whom we made pricing tool and he never used it again

Customer Success

1. Product team needs to be on customer meetings. Everyone in the company only and only focus on customer. Customer success is key
2. Look at all KPIs
3. Don't ship feature that you think customer needs and never ever spoke to even one customer
4. Use mixpanel kind of product to understand where customers spend time
5. Understand everything about the usage

Don’t be in a hurry to become big and recruit till money comes in. Wait for that sign of solution market fit. Product market fit will come much later.

This advice stems from my experiences with uniQin.ai. Remember, every entrepreneurial journey is unique. Stay true to your vision and keep persevering. Success will follow.