The Koerner Office - Business Ideas and Small Business Deep Dives with Entrepreneurs How to Build No-Code SaaS Business in Days. Ep. #108
Dec 23, 2024
In this discussion, Sam Thompson, an expert in internet and home service businesses, dives into the world of prosumer software and no-code SaaS development. He highlights the effectiveness of viral marketing and referral strategies, demonstrating how companies can grow with minimal costs. The conversation also covers innovative mobile business ideas, such as a golf simulator in a box truck and a mobile barbershop. Lastly, they explore using AI to enhance community engagement and the crucial role of market positioning in customer retention.
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Episode notes
Target Prosumer Software
- Target prosumer software markets like creators or real estate agents.
- These markets offer larger TAM and monetization opportunities through recurring revenue.
Breakeven Acquisition
- Aggressive up-and-to-the-right growth requires breaking even on customer acquisition costs (CAC) within the first month.
- Breaking even on lifetime value (LTV) alone is insufficient for sustainable profitability.
Robinhood's Viral Success
- Robinhood's "refer a friend, get a free stock" campaign is a prime example of viral marketing success.
- Despite the low value of the free stock, the perceived potential for growth incentivized referrals.