If you haven’t heard, on top of my MegaMaker activities, I’m building a new startup called Transistor.fm with my buddy Jon Buda. It’s a hosting platform for podcasts, so naturally we wanted to kick things off by creating our own show. It’s a SaaS podcast, where every week we answer the question: what’s it like to build a Software as a Service business in 2018?
About the Build Your SaaS podcast
In 2004, 37signals started a SaaS revolution when they launched Basecamp, their project management app. Along with the launch, they open sourced their development framework: Ruby on Rails. Now, for developers and entrepreneurs, it was easier than ever to create a web app. There was a bit of a gold rush: conferences like Future of Web Apps attracted thousands of entrepreneurs, developers, designers, and product people. Everyone wanted a piece of the recurring revenue pie.
It’s been 14 years since Basecamp’s launch. Since then, some folks have succeeded in creating profitable SaaS business. But many failed. What’s changed? Big players have emerged. Competition has become fierce. The “low hanging fruit” has been gobbled up.
Is there still space to build a bootstrapped startup now?
Jon and I are going to find out!
Episode 1 summary: how to find a co-founder
When building a SaaS, going alone is a tough road. But finding someone to work with can be intimidating as well. Jon and I talk about how we found each other, the steps we took to safeguard each other in business, and making sure we’re in alignment as we try to build and launch Transistor.fm.
How do you find a cofounder?
- Go to events!
- Build your own projects: make stuff, tell people.
- Build long-term relationships (“I’m never going to team up with someone I just met”)
What should you look for in a cofounder?
- Complimentary skills
- They should have their own network
Make sure you…
- Sign real legal documents!
- Use Stripe Atlas
- Be really up-front about:
- Your values
- Your aspirations: what are you trying to get out of this?
- Talk to a lawyer
I'm building a SaaS in 2018
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