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Introducing Nugget! We send you a new SaaS business opportunity every day


#1

Hello Bootstrapped FM,

I am super happy to announce the MVP launch of Nugget, a project I have been working on with Ken Wallace.

We solve one of the hardest problems entrepreneurs face - “what should I work on?”

We source all our opportunities from real people with real problems. We use a combination of real world canvasing (i.e asking everyone we meet!), Internet sourcing techniques.

So, basically, it’s sales safari on steroids.

Anyway, even if you’re already working on a project I encourage you to signup for some free nuggets so you can get a better idea of what we’re doing.

Note: You can see my early sales safari efforts that I used to secretly test this concept in earlier posts in this community. All the ones that start that start with Biz Op:

Yup, that’s what I was doing there :wink:

Many thanks,
Justin


#2

Hehe… ok, got my email in… still fail to see it though for 50$ a month… I can get a nice instance on Digital ocean for 50$ a month… lol

But you hit the nail on the head though, it is a big problem… a problem I have been struggling with anyway…


#3

$22.95 work for you? :wink:


#4

Hi Justin? Ken?,

Signed up for free plan to check out some nuggets. $50/month seems pretty dear especially since you guys don’t have much of a community yet (im guessing). It may be worth if to also gain access to thriving community.

Having said that I would be unlikely to pay even if it was cheaper.

btw I would probably pay if I could get say 1 nugget for $5, I might buy 5 (I would pay more if I see that they are good).

btw I am big bitcoin fanatic and this kind of one-off purchase for small amounts would work really well with Bitcoin (although I realise not many people use bitcoin).

So yeah if I could purchase a few individual nuggets with Bitcoin that would work for me.

Hope that helps :slight_smile:

btw where do you guys get these nuggets from?


#5

@danWilcz We use Internet sourcing techniques surveys & such. Let’s just say… we pay to kiss a lot of frogs for each one we finally send out.


#6

If I got it right, you’re asking people to pay 50 dollars to join a forum to discuss on the nuggets. That doesn’t look like it is worth 50 bucks for anyone.


#7

Whoops, my corporate firewall just blocked it as a “gambling” site! Interesting. (Not joking either!)


#8

If we charge say, $10, then too many people will come in so it would be hard for us to work personally with each customer. If we charge, say $100, then not enough people will come in.

Keep in mind that everyone has different viewpoint’s on pricing. Also, in my previous products in the past I’ve noticed that people who pay more money are much easier to deal with than the folks that pay $10/month for a product. I’m not quite sure why this is but it’s another good reason in my mind to go for a higher price point.

While we’re on the subject this is a great read and really helps to break down some of the myths that people have about pricing and price points:

https://training.kalzumeus.com/newsletters/archive/saas_pricing

We have over 40 customers who are pretty happy with the value it brings them and a number of those have said that the price is too low.

We’re nut just selling “discussion of ideas” were selling a new reality where you pick an idea, validate it, work within the community to grow your business and break free of your 9-5.


#9

Hi,

some of what you just wrote might be worth somehow emphasising on the page. Me and many people would probably just think its a forum.

If you guys provide some help on finding out more about a ‘nugget’ i.e. about how you found problem, who has it, what is needed, that sounds more interesting.

Just some advice :slight_smile:

Edit: This line below is good and maybe its worth expanding/emphasizing it in the landing page? Like how would the service help validate an idea? Maybe a case study/testimonial (you might not have any yet?)

“We’re nut just selling “discussion of ideas” were selling a new reality where you pick an idea, validate it, work within the community to grow your business and break free of your 9-5.”


#10

Who are your target market?
Wannapreneurs? They have no money.
Established serial entrepreneurs? They don’t need you.


#11

That’s a not very well thought through perspective. In the real world there are many shades of grey. It is not black and white like you suggest.

What IS black and white, and frankly irrefutable, is the money sitting in our account from the happy customers who signed up for, participate, are executing our ideas, and growing within our community.


#12

I’d be interested to know why you think wannapreneurs have no money @jitbit?

First of all @jv2222, congrats on getting some initial paying members. I think your idea has potential and, as is usually the way, it will come down to how well you are able to execute.

I’m going to do a bit of a brain dump below but I hope you will take it in the constructive sense that it is intended. I’m sure you’ve already thought about a lot of what I’m going to write so it would be great to hear how you plan to address my concerns. Isn’t that the best way to learn?

Assuming the @jitbit is right about serial entrepreneurs (and I am not so convinced) I could still think of 3 potential markets for this:

  1. Full-time employed (where you seem to be aiming now)
  2. Consultants that want to get into products
  3. People that have failed with their initial product effort

The main issues I see are:

  • Once someone finds an idea they want the pursue the value of daily recommendations go to zero. In fact it could be even worse as a constant stream of new problems / ideas is a huge distraction.
  • If all of the information about each problem is available as part of the free trial period you are likely to have a lot of people who don’t want to be part of the community continuously signing up for free trials to get access to the problems.
  • Not all problems are created equal. A small number of problems are likely to attract the majority of the attention and so, especially as you scale, you are going to have multiple different people working on variations of the same ideas. This kind of competition seems to decrease the value of the community aspect (and possibly the problem information too).
  • (Linked to the above) Presumably you are going to put the interested members in contact with the people that you have spoken to that have the problem. They will probably be happy to speak with the first or second person but by the fourth or fifth it will just be an annoyance.
  • Building a successful community is hard and you are going to be competing with established groups like Micropreneur Academy.

My first impression is that you have 2 distinct products that you have shoe-horned together because you want the subscription revenue:

  1. Problem discovery
  2. Community / education

The value propositions are so different that it makes much more sense to me to keep them separate. What was the thinking behind combining the two?

My feeling is that it could make more sense to focus on “problem discovery” up front and then look at selling the community subscription on the back-end.

The model that springs to mind would be to make the daily “opportunity email” free to subscribe to but only make a limited amount of info available (enough to decide if this was appealing) and then sell the more complete info package. You’d have a few options available:

  • Fixed price (unlimited)
  • Fixed price (exclusive)
  • Auction

When starting out the fixed price option feels like it would be best due to the small volume but the auction model could be really interesting long-term (due to the asymmetry of appeal mentioned above). You could even start with auction model but have a minimum price. To be honest thought, I really have no idea without testing
.
Even if people don’t buy the info you would still have a fairly targeted list to sell on the community aspect down the line.


#13

Awesome post. To late to respond now but will try to come back with something tomorrow. :slight_smile:


#14

Just heard Ken on Startups for the rest of us. It was interesting to hear him talk about some of the points raised above. Also sounds like you’ve got off to a great start, congrats.


#15

Awesome glad you heard that! If you want even more in-depth thinking check out techzing here:

http://techzinglive.com/page/1590/298-tz-discussion-enter-the-nugget

I guess I don’t need to write a reply now that you heard all that! :wink: