Revealing Everything About My 2 $500/Month SaaS Side Hustles (Marketing, Tech Stack, Costs, etc.)

Step-by-Step Tutorial: Building and Growing $500/Month SaaS Side Hustles

Introduction:

In this tutorial, we will delve into the insights shared in the YouTube video titled "Revealing Everything About My 2 $500/Month SaaS Side Hustles" by Your Average Tech Bro. We will cover the key points related to building, monetizing, and growing two SaaS products generating $500/month each.

1. Building the First SaaS Product - Nexus Research:

• Product Description: Nexus Research is an AI-powered reading and note-taking tool where users can extract information from uploaded PDFs through chat.
• Market Research: The creator leveraged proven market demand and made minor modifications to differentiate the product.
• Tech Stack: Built using Next.js hosted on Vercel with PlanetScale as the database backend.
• Monetization Strategy: Offered subscription plans including a Weekly plan to cater to users' short-term needs.
• Growth Strategy: Utilized social media marketing, focusing on video series related to colleges and summarizing articles using Nexus Research.

2. Growing Nexus Research:

• Social Media Strategy: Leveraged video series on colleges and article summaries to attract followers and increase impressions.
• Revenue and Costs: Generated $450/month in revenue with monthly costs of around $80, resulting in healthy profit margins.

3. Building the Second SaaS Product - Perfect Interview:

• Product Description: Perfect Interview is an AI-powered mock interviewing tool generating practice questions from job descriptions.
• Tech Stack: Similar to Nexus Research with Next.js and PlanetScale, but the landing page hosted on Framer.
• Monetization Strategy: Opted for one-time purchases over subscription plans after A/B testing showed higher conversion rates.
• Growth Strategy: Engaged a co-founder for social media marketing, focusing on collaborations and original content.

4. Growing Perfect Interview:

• Social Media Marketing: Collaborated with influencers, focused on job-related content, and utilized engaging video formats to increase visibility.
• Revenue and Costs: Generated around $500/month in revenue with monthly costs of $60-$70, resulting in profitable margins.

5. Future State and Conclusion:

• Future Plans: Considering letting the existing products maintain passive income while focusing on a new high-value product.
• Growth Potential: Acknowledged the potential to scale revenue by shifting social media strategies but opted for a new product aligned with personal interests.
• Final Thoughts: Emphasized the importance of product-market fit and personal passion in driving entrepreneurial endeavors.

By following these steps and insights from the video, you can gain valuable knowledge on building, monetizing, and growing SaaS products to create sustainable side hustles.