Afternoon all.
Just over a year ago, I'd almost accidentally saved up a few grand (by working as freelancer/contractor) and decided to see if I could turn my small (less than 20k) pot of cash into a SaaS product.
I'd been half heartedly trying to build a product part time for the previous couple of years, but had found the temptation to do "just one more paid job" too great. I was allowing my subconscious fear of running out of money to distract me from my real goal (building my own product).
I've learnt over the years that I find it far more difficult to work on my product whilst simultaneously working for a client. The client gets all my energy, and I haven't got enough drive left to work on my own projects. Maybe I'm getting old - I had energy to spare when I was 25.
So anyway. I realised that I was never going to free myself from the "money for hours" cycle unless I buckled down and focussed on my own thing. If I didn't go full time on my own product I should go full time on the freelancing; the half way house was costing me a lot in lost freelancing revenue, with nothing to show for my product-related efforts.
I looked at the pot of cash in my company bank account and realised it would support me for at least six months, and that in six months I should be able to knock up something fairly useful. I was in London at the time (where life is expensive) and twigged that by moving home to Manchester I'd be able to stretch that 6 months to 9 months. It would also provide a useful break from my existing clients - it would be easy to turn the work down.
I started working on The Agile Planner in January 2012. For the first time, I truly felt like my own boss. Working on it full time was superb, and forced me to address my fears ("am I nuts?", "will I run out of money?", "will anybody want it?" - none of these questions are easy to answer, but once you've addressed them it's easier to crack on at full speed).
I dabbled with Lean Startup, and learnt the hard way (I wasted 6 weeks obsessed with making a swanky video) that it's not always about building *cheap* MVPs (nobody tells you that some MVPs can't be that minimal). That said, I do like Lean. The rapid iteration techniques will become more useful to me once I've proved the concept and am honing the feature set.
The product is now at a stage where I've got a few companies who have been using it to manage their day to day software development for, well, ages (including some on this list). I haven't added all the features I think it needs, but it's time to see whether or not anybody will pay for what I've got. There's enough there for people to get a feel for it.
Development has been paused for the last couple of months while I've been dealing with the empty bank account problem (I'm doing a more freelancing, on a part time basis).
The next steps will include setting up an email marketing campaign (e.g. engendering trust through free email based training), onboarding, and as much contact with potential customers as I can manage. It's also time to start regular blogging (I've already analysed my competitors' blogs and have worked out my strategy).
I've learnt a lot in the last year, especially about fear, motivation and procrastination (and the importance of giving yourself a break). It's been more fun than that makes it sound.
I think I've reached the hard bit. Or at least, I'm venturing into a minefield of known unknowns.
Catch you later for a beer...
Graham