Tim Bennetto (@timb03) 's Twitter Profile
Tim Bennetto

@timb03

Founder of pallyy.com.

ID: 1579004728817504257

linkhttp://timb.com calendar_today09-10-2022 07:04:09

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Had a LOT of interest from this post, and some decent offers too (crazy), but haven't accepted anything yet. Also learning that it's also about WHO I'm selling to opposed to just $. Want to see Pallyy in good hands if it does get acquired.

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If you ever want to sell your business (even if you don't plan on it), I'd suggest doing this ASAP: - use an accounting tool to track sales/expenses - hire a senior dev to refactor your code Will save you a ton of time and make an acquisition way easier.

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Spent 4 years working on a single SaaS (Pallyy) every single day. But after ~5 years growth has hit a plateau (+15% YoY) and that affects my motivation. Then you start tinkering with other things, and that steals your focus a bit more. Maybe it's temporary, motivation comes

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It doesn't matter if you work on a single idea or 100 ideas. What matters is that you work on it every day. For me, it's best when I focus on one thing only - even if that thing changes along the way.

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100% of Pallyy's code is handwritten without the use of AI. Fun part aside, you also know exactly how everything works, which helps with bugs, refactoring, etc. Probably will change in the future, but will keep going this way for as long as possible.

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Learning lots about Pallyy during the selling process: - 80% monthly, 20% annual users - 8% monthly churn, 2% annual - 2% churn on $100+ mrr users So basically target $100 mrr users and push people to annual and churn will drop drastically?!

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AI may very well replace developers in time, but still wouldn't tell anyone not to learn how to code because of it (yet anyway). Even if it does take the job of a developer, we'll still need "developers" to manage the code/infra, or guide it, who actually know what it's doing.

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- add every feature ppl ask - increase tech debt - hire dev - remove features - pay off tech debt maybe not the ideal way to grow a saas, but it works!

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Hopefully don't live to regret it, but I'll be holding on to Pallyy for now. Had some great offers, but none in the range that I was looking (4-5x). Less than that didn't seem to make too much sense to me. However, learned a lot from digging into tons of metrics which has

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Pricing is hard. I've increased prices 2 times over the last 2 years. But now Pallyy is pretty expensive for some use cases, cheaper for others. So now need to find a middle ground and will be adding: - a cheaper plan (~$10/mo) - an agency plan (~$70/mo) - an unlimited plan

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Lots of people saying NOT to add an unlimited plan. But I'm testing one and in just 2 weeks it's added 5 x $199/mo customers. So that's $1K MRR I wouldn't of had before. Perhaps could limit in some way, but what's the harm?

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lots of potential buyers low balled me because churn would be hard to get down only thing that i've changed is focusing on failed posts (now 98.5% successful up from ~95), and following up cancellations personally

lots of potential buyers low balled me because churn would be hard to get down

only thing that i've changed is focusing on failed posts (now 98.5% successful up from ~95), and following up cancellations personally