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Hello and big welcome to the 30 new subscribers this week. You picked a good week to join us 😎
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In today's newsletter, we have for you...
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<ul class="unordered_list" style="margin:1em 0;margin-left:1em;padding:0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4;list-style-position:outside !important;list-style-position:inside">
<li class="list_item" style="padding:0 0 0 1em;margin:0;margin-left:1em">
<span>
The questions you need to ask yourself before spending time building an internal tool
</span>
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<li class="list_item" style="padding:0 0 0 1em;margin:0;margin-left:1em">
<span>
An inside look into how uSERP grew their team 7x in 3 years without losing any momentum (e.g. hitting $80k MRR their first year 😱)
</span>
</li>
</ul>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
And more!
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
Cheers,
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Lea
</p>
<hr/>
<h2 style="font-weight:bold;font-style:normal;font-size:1em;margin:0;font-size:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;line-height:1.5">
1 Tip for Growing Your SaaS or Subscription business 💡
</h2>
<h3 style="font-weight:bold;font-style:normal;font-size:1em;margin:0;font-size:1.17em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;line-height:1.5">
Crunch the numbers before building a new tool
</h3>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
<em>
To build or not to build?
</em>
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
It's a question every early stage startup (and many established startups) constantly ask themselves.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
These five questions can help you determine whether to build custom software or opt for an off-the-shelf solution.
</p>
<h3 style="font-weight:bold;font-style:normal;font-size:1em;margin:0;font-size:1.17em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;line-height:1.5">
1. What’s your budget?
</h3>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
Building software is usually the more expensive choice, but it can potentially have a huge return on investment.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
To help get an understanding of your potential returns, determine the
<a rel="noopener noreferrer" style="color:#6078ff" target="_blank" url-id="1546307667">
MVP (Minimum Viable Product)
</a>
. That is, define your software’s must-have features. Once you’ve established the MVP, you can get a few development quotes to help you decide if the custom investment is worth it.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
In the states, decent custom development ranges from around $50 per hour up to $300 per hour. It’s expensive! And usually requires more time to build, test, and integrate than a shelf solution.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
If you’ve decided you’ve gotta have something custom, then definitely do your homework and research the heck out of development companies and freelancers. As an extra precaution, find a company or person who’s successfully built software similar to yours.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
You can get better rates overseas, but keep in mind, you’d have to decide if the time difference and extra project management requirements are worth the savings.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
On the flip side…
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
If you’re feeling more drawn to an off-the-shelf platform, then make sure you’ve accounted for all of the setup and registration fees as well as any yearly or monthly costs.
</p>
<h3 style="font-weight:bold;font-style:normal;font-size:1em;margin:0;font-size:1.17em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;line-height:1.5">
2. Are you tech literate?
</h3>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
It can be tough to find and keep good engineers, but technical knowledge is invaluable when it comes to a buy vs. build analysis.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
Custom software development can get super complicated, and if you don’t have programming or engineering chops, you might want an engineer on your team to help you decide what’s best. Your engineering teammate can also help manage the third-party that’s building your custom software – and translate techtalk to laymen’s terms.
</p>
<h3 style="font-weight:bold;font-style:normal;font-size:1em;margin:0;font-size:1.17em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;line-height:1.5">
3. What can you live without?
</h3>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
You might do some research on customizable templates out there and conclude that an off-the-shelf product can perform seven out of ten required tasks. How can you determine if seven out of ten features will suffice? Ask yourself these questions:
</p>
<ul class="unordered_list" style="margin:1em 0;margin-left:1em;padding:0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4;list-style-position:outside !important;list-style-position:inside">
<li class="list_item" style="padding:0 0 0 1em;margin:0;margin-left:1em">
<span>
Will not having the missing features hurt my return on investment or profits?
</span>
</li>
<li class="list_item" style="padding:0 0 0 1em;margin:0;margin-left:1em">
<span>
Will not having the missing features hurt my relationships with customers or prospects?
</span>
</li>
</ul>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
If the answers are no, then you can probably live without those three features.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
To get the last 2 questions you should yourself before building, click the link below.
</p>
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Build vs. Buy: 5 Questions to Ask Before Deciding on Custom Software Development
</a>
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<!--[if mso]><table class="button-table" width="100%" border="0" cellSpacing="0" cellPadding="0" style="margin:8px 0"><tr><td align="center"><table border="0" cellSpacing="0" cellPadding="0"><tr><td align="center" bgcolor="#1ea705" style="background-color:#1ea705;border-radius:4px;overflow:hidden;padding:12px 20px"><a class="email-button" href="https://baremetrics.com/academy/custom-software-development?utm_source=newsletter&utm_medium=email&utm_campaign=may25" target="_blank" rel="noopener noreferrer" style="background-color:inherit;display:inline-block;text-decoration:none;border-width:1px;border-style:solid;margin:0;color:#ffffff;border-color:#1ea705;font-size:16px">Build vs. Buy: 5 Questions to Ask Before Deciding on Custom Software Development</a></td></tr></table></td></tr></table><![endif]-->
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Still on the fence? Our
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build vs buy calculator
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crunches the numbers for you, helping you make a faster decision 👇
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</a>
<figcaption style="margin-top:0.4em;font-size:0.8em;text-align:center;display:none">
</figcaption>
</figure>
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Build vs Buy calculator (no log-in needed!)
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</p>
<h2 style="font-weight:bold;font-style:normal;font-size:1em;margin:0;font-size:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;line-height:1.5">
1 Thing That Made Us Go 👀🤔
</h2>
<h3 style="font-weight:bold;font-style:normal;font-size:1em;margin:0;font-size:1.17em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;line-height:1.5">
A team growth success story
</h3>
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<tbody>
<tr>
<td align="center" style="vertical-align:top">
<figure style="margin:1em 0;display:block;margin:12px 0;max-width:100%;width:800px">
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</a>
<figcaption style="margin-top:0.4em;font-size:0.8em;text-align:center;display:none">
</figcaption>
</figure>
</td>
</tr>
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<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
Here at Baremetrics, we love to share stories of founders and their teams doing awesome stuff.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
This week, Jeremy Moser from uSERP, a digital PR and SEO agency working with brands like Monday, ActiveCampaign, Hotjar, and more, told us about how they grew from a team of 3 to a team of 50 in just 3 years.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
Oh, and they hit $80k MRR that first year-- fully bootstrapped.
</p>
<p style="margin:1em 0;font-size:18px;line-height:1.5em;font-family:Arial,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Oxygen-Sans,Ubuntu,Cantarell,'Helvetica Neue',sans-serif;color:#000000;font-size:16px;line-height:1.4">
Head to the link below to learn how they approach hiring, employee onboarding, communication, and more.
</p>
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How uSERP Maintained Team Productivity While Growing Their Team 7x in 3 Years
</a>
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✨ More cool stuff from Baremetrics ✨
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<br/>
Open Benchmarks
</h3>
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Our
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Open Benchmarks
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tool is a completely free resource you can use to compare your MRR, LTV, user churn, revenue churn, and pricing models to similar-sized companies.
</p>
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Try it today!
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Try For Free: Open Benchmarks
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1 year, 7 months ago - lea@baremetrics.com
Hello and big welcome to the 30 new subscribers this week. You picked a good week to join u...