Dejan Murko tells a cautionary tale of a failed SaaS project called WooCart.
They basically spent 4 years working on it, racked up $980,000 in expenses, and ultimately lost $700,000 😩
And that was despite having an experienced team that had previously earned 7 figures online.
The expense breakdown…
- advertising: $76k (8%)
- hosting: $112k (11%)
- contractors: $125k (13%) – all development
- team salaries: $565k (58%) – development, support, marketing and does not include founder salaries (!)
- services and subscriptions: $37k (4%)
- >other expenses (6%)
Definitely worth reading the full post if you’re into SaaS.
On the flip side, I’ve mentioned Tally form builder in this newsletter before. Launched in 2020, they’re up to “$380,000 in annual recurring revenue and 50,000 customers” according to a recent profile 🥳
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