It's not a simple task to find a profitable idea for a micro SaaS business, particularly if it's your initial project and you lack the relevant domain expertise. The market seems saturated, leaving you with the impression that all potential ideas have been exhausted. However, good business ideas are not solely about being unique and unparalleled.
In fact, a large proportion of bootstrapped saas startups focus less on innovation and more on identifying issues for which people are seeking solutions. There are several strategies available to help you find strong business ideas and jump-start your venture.
Micro SaaS Ideas Newsletter
The Micro SaaS idea newsletter, founded by Upen three years ago, has carved a niche for itself by delivering 9-10 research-backed business ideas in each issue, targeting specific niches like hiring, the creator economy, affiliate marketing, influential marketing, no-code tools and many more. This newsletter has seen significant growth reaching now over 31,000 subscribers.
With over a 1000 profitable Micro SaaS ideas and deep-dive reports across more than 100 SaaS niches, it has become a go-to resource for anyone looking to venture into the SaaS domain. You have the option to subscribe for free or upgrade to a paid pro subscription.
The pro issue not only offers a greater number of ideas than the free version but also includes technical and marketing chops, and cost analysis, giving you a more thorough understanding of how to bring these ideas to life.
FounderBeats serves as an invaluable free resource for those seeking ideas and inspiration in the SaaS domain. It features over 100 interviews with founders who have navigated the waters of building their SaaS businesses successfully. These interviews are presented in a quick to read short question-and-answer format, highlighting their key SaaS revenue figures as well.
A notable feature of these interviews is that almost all the SaaS founders have taken the bootstrap approach, building their startups without any external funding. They offer deep insights spanning from the initial idea phase, strategies for finding the first customers, to broader lessons learned along their journeys.
What sets FounderBeats apart is its wide range of interviews - covering founders at various stages of their entrepreneurial journey, from those just beginning to make a few hundred dollars to those who have established significantly profitable SaaS businesses. This diversity allows you to find stories and insights that are most relevant and relatable to your own goals or experiences.
Acquire.com, the platform for buying and selling SaaS businesses, can be a good starting point to get great micro saas ideas and start SaaS entrepreneurship .
You can create a free account and use filters to identify SaaS businesses with annual revenues that are neither too small nor too large. The objective is to seek out ideas that are already generating decent revenues and can be developed within approximately a month.
For more detailed research, each listing's page includes a list of competitor businesses. Exploring these competitors can help you identify any deficiencies or unaddressed gaps in their offerings. Spotting these gaps and understanding how to fill them effectively could serve as the foundation for your next profitable micro SaaS idea.
Product Review Websites
Product review sites like G2 and Capterra are a good resource for identifying profitable micro SaaS business ideas and doing research for your B2C as well as B2B SaaS ideas.
These platforms organize their software listings into categories and sub-categories. This structure can really help when you're trying to figure out what niche you might want to dive into. Choose a niche that aligns with your interest area, or even better, one that you are already familiar with.
Once you’ve zeroed in on a category, immerse yourself in user feedback and reviews. Focus particularly on the negative reviews or highlighted missing features of popular products within your chosen niche.
Look for a pattern of problems, issues, or maybe features that quite a few users agree are missing. These are the gaps you might be able to fill with your idea.
The discussions on IndieHackers can also serve as a fruitful source of tech startup and software ideas. This online platform sees both tech and non-tech founders sharing insights, discussing challenges, and asking questions.
By actively monitoring these conversations, you can gain insights into the common issues faced by founders and consequently, can come up with feasible business ideas to address these challenges.
Own Pain Points
An easy way to generate a SaaS idea is to solve a problem that you personally encounter in your workflow. The rationale behind this approach is the assumption that if you're facing a particular issue, it's quite possible that others are too. Plus, dealing with the problem firsthand gives you a deep and nuanced understanding of it, which could be advantageous as you develop a solution.
However, this method does come with a significant drawback. It's risky because while addressing your own problem ensures you're passionate and knowledgeable about the problem, it doesn't guarantee that there's a demand for it as well. The SaaS idea you're working on hasn't been validated in the wider market, which means there's a risk you might pour time and energy into something, only to find difficulty in getting users at a later stage.
Quora, a social question-and-answer website, attracts millions of users each month.
To effectively utilize Quora, identify and follow those topics that are directly related to your business niche or target market. Delving deep into the questions and discussions within these topics can offer unique insights into the concerns, needs, and trending issues of users. By closely analysing this wealth of information, you can pinpoint prevalent pain points or unmet needs that your potential micro-saas business could address.
Micro SaaS HQ
Micro SaaS HQ is a closed community specifically for Micro SaaS builders, creators, and founders. It is an asynchronous community with over 500 participating founders. This smaller community offers a comfortable venue for sharing your ideas, asking for assistance, and receiving feedback from fellow founders. It presents a great opportunity for networking, getting ideas and mutual inspiration and growth.
You can become a part of this community for an annual fee of $150, which also includes a subscription to the pro issues of the Micro SaaS Ideas newsletter.
These approaches can indeed help in discovering promising micro-SaaS and SaaS ideas that have the potential to evolve into a sustainable business. However, it's important to remember that any idea you choose must be viable from both a technical and business standpoint.
Additionally, avoid falling into the trap of spending an excessive amount of time thinking about the 'perfect' idea. When it comes to building a SaaS business, speed and flexibility are crucial. This means quickly developing a SaaS Minimum Viable Product (MVP), validating its market acceptance, and then iterating it based on user feedback and needs. Therefore, the focus should be not just on the idea itself, but also on its execution and continuous improvement.