Almost three years ago, I found out that when there are new products launching, they face a really hard time increase their reach.
We were able to reach $30,000 MRR That is monthly recurring revenue in our software and service business.
Hi himanshu bisht. withhimanshu.com. In this video, you are going to discover five new micro SaaS business ideas. I love Micros business models. It's the fastest to start a new source of recurring income through the internet. And if you are someone who is looking to build new sources of income that you should be, this is the right time to launch your own business.
And in this video we are gonna walk through five new ideas. And not just that, you are actually gonna discover how to create new ideas. Because once you will have this skill, what happens is even if your new ideas not falling in these five categories, still, you will be able to validate [00:01:00] your model. And that is very important because I'll tell you, 92% of SaaS businesses fail in first two years.
And to make sure you are doing something right and you are getting profitable as fast as possible, you need to start by right market validation. So we are gonna go through a simple strategy so it's not like I'm gonna tell you to fill up some Excel sheets and all that bunch of stuff. You can do it by simply writing some things on your diary. Now that's very simple, but still most of the people won't do it. So if you are starting up, make sure to have a diary and pen because otherwise you will end up watching hundreds of other videos and still you won't be able to take action. And I want you to take action.
That's the most important part. Alright, so with this said, let's begin. First thing. We are not gonna talk about things and industries that have zero competition like a lot of other people will tell you that [00:02:00] you can start something with zero competition, but that's a stupid idea. Now let me tell you why.
Competition is good
So competition is good for a reason. There is competition because there is something WORKING. And when you are starting up, it's really wise that you start in something that has low competition and not zero competition. So what we are looking right here is industries that have less competition and bigger demand.
So this is important. Whenever you are starting a new business, you are trying to help other people with one of these three challenges, or I would say you are trying to help them achieve one of these three goals.
Now, here is where I want you to write these things down on your diary. I have my notes ready.
Three important Questions
Whenever we are launching a new business, we are either trying to help other people find someone [00:03:00] who can help them do the job for them, or we are trying to help them become better at what they are.
Or the third one is we are either trying to help them save money or make money through our product. Now let me repeat them because this is where everything starts. Through your product, you are either helping other people, find someone who can do the job for them, or you will help them become better at what they are doing.
Or you are helping them save money or make money. So once you have this foundation, you can start thinking, alright, I'm gonna help other people improve their health through yoga. Or I'll create a marketplace where they can find other yoga teachers. You know what I mean? Right. So that's important.
Idea validation statement
So the next part of creating a profitable [00:04:00] micro sauce business is filling up this particular statement that I'm gonna give you.
So the statement is, I'm helping ____ solve ____ through ____. Now bear with me on this. I'm helping Dash solve dash through. Now these three dashes have these three questions. First, who you are helping, what problem you are gonna solve, and third one is with what solution. Now, let me give you this example.
So two and a half years ago, we started a company that was helping other people reach more customers through word of mouth. So our "Who" was businesses and specifically businesses in blockchain and we were helping them solve [00:05:00] this particular problem, low reach when they are launching a new product and we were helping them solve it through brand ambassadors.
So three things. Who you are helping with? Word solution. What is the problem you are trying to solve? Right? So at this point, you still do not have a business idea, and that is okay. The important part is the market and the problem, and third one is solution.
And what your software is gonna do is create that bridge between the problem and the solution.. This is what you are looking for, your product as a bridge.
5 Micro Niche Ideas for SaaS
So once you have this foundation and you have this idea, now we can actually jump into these micro niches to start your micro SaaS Business. Let me tell you, in the very beginning, this is not it. You can have way more ideas. I have [00:06:00] done my own research and I have come up with these five ideas that are still unexplored.
And if you are starting up, you might wanna start with somewhere in this industry or maybe something around them. So let's begin.
So the first industry is health. Now let me give you this micro niche inside Health. Now health is a big industry and there are thousands of products coming every single day in this industry itself.
Now what I have found out is there is still low competition in Telemedicine. Now, even better. If you can target a particular city. What you can do is you can help people connect with doctors in your particular city.
Maybe there is a big competition in this particular industry, but what happens is your micro SaaS is specific to solve problems in your city, so your target audience will be the [00:07:00] doctors and the people who are looking for quick medicinal advices, and you are connecting these people with the right doctors.
It's not even very hard to create. You can reach out to the doctors in your city and you can create a group of them and immediately start building this particular product. Now, there can be hundreds of other ideas, but this particular one is actually profitable and there is high demand and still it's low competition.
eSports Gaming Guild
Now the second business is in eSports. Now I play this game called Valorant and it's kind of very popular game, and what I found out is there is this website that's called Aim Labs, and what it does is it helps people improve their aim. Now this is crazy. What they do is they help people shoot better in their game.
This company is completely different from that particular game. [00:08:00] This company has these tens of other games that they have listed out and tens of different terrains, and you can choose all different things that are important to improve your aim. And imagine the kind of niche they are in inside eSports, they are helping other people become better at their gaming performance.
So you see where I'm coming with this, right? They are helping people become better at what they are already doing. So in the similar way, you can even create gaming guilds that is helping different gamers come together and launch new campaigns or something like that. So this is the second industry that you can target that has not so big competition and really high demand.
Now, the third one here is wealth. Now wealth is again, a massive. But inside wealth, what we did [00:09:00] is almost three years ago, I found out that the industry that I was working in was blockchain. And we found out that when there are new products launching, they face a really hard time increase their reach.
So what we did is we created our software Afleet for our ideal customers to promote their brand through word of mouth, and we use this marketing idea that is called Ambassador Marketing.
Our SaaS business example
So what Afleet does is, it helps you recruit your customers as your brand ambassadors and help you promote your products and company through them. Now, imagine there are hundreds of people out there talking about your company, talking about your product, and can you imagine the impact? In fact, we saw some incredible results.
Much better than influencers. In fact, this was the reason we were able to reach $30,000 [00:10:00] MRR. That is monthly recurring revenue in our software and service business. So you might wanna start something like this or maybe something else around it.
The idea is you are helping people make money or save money.
The fourth industry I have is relationship. Now, relationship is an intimate niche. People want to improve themselves. Maybe they want to improve their relationship with themselves or maybe with a partner, or maybe they are looking to find a good partner for themselves.
One of the interesting business idea, inside relationship is a personality calculator. So what you can do is you can launch a new product that is helping people analyze their personality and rate themselves so they can improve their own personality and find the right partner for themselves.
Or maybe you can launch a personality calculator [00:11:00] for parents.
Backend product is the key
And that's actually a nice product because you are helping other people improve their relationship, maybe with their kids, maybe with a partner. Anyone else. And at the same time, you can easily charge five to $10 on a monthly basis for such product, and you can add even more products in the backend.
Now I'm gonna create more videos on how you can create more streams of income from your existing products in upcoming videos.
But for now you can understand that you can easily create new streams of income in this particular niche.
So the last niche we have is education. And you can see my lights are gone, but we are gonna keep moving. All right? So inside education, there is this particular sub niche that is growing really fast and that is homeschooling. So what you can do is you can launch your homeschooling tracker as a product that is helping parents track their kids' [00:12:00] performance as they are teaching them in their houses.
After the Covid Pandemic, this is one of the things that grew really fast and it's not gonna slow down. And that is a big market demand for these kind of products. And there are already products that are working in this particular industry. But definitely you can find one that is profitable for you.
So I hope you found this video useful. Let me know in the comment box if you have a new idea that you want to validate . And if you're new to this channel, make sure to subscribe it. So every time I put a new video that can help you, you will get notified.
I'll see you in the next video.