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The AI SaaS Playbook ๐Ÿ“˜

February 1, 2024

Hello there

Another WGMI newsletter, another million-dollar idea. Let’s get into it:

  • The 19-year-old making $1.5M a year with AI SaaS (and his playbook to create $1M software) ๐Ÿคฏ
  • 4 people who capitalized ruthlessly with the Productized Agency model ๐Ÿง 

๐Ÿคฏ

The 19-Year-Old Making $1.5M a Year With AI SaaS

Meet Arib.

During his 19 years on planet Earth, he has already managed to:

  • Make $1.5m a yearย 
  • Get two million users for his software (100,000 of those coming in the first week)
  • Get a cease and desist letter from Universal Music, Warner Music and Sony Music
  • Receive (and turn down) multi-million dollar offers to buy his business
ย 

This 19-year-old has the business acumen and strategic instinct that most people wonโ€™t achieve in their lifetime.ย 

In this newsletter, I’ll share Arib’s playbook to create a million-dollar software product without capital and/or coding experience.ย ย 

ย 

Why should I listen to a 19-year-old?

Arib created the software behind the notorious AI Drake song, Heart On My Sleeve.ย 

After receiving cease and desist letters, he pivoted. Nowย Musicfyย gives people the tools to clone any voice they want.ย 

He has since scaled Musicfy to $1.5M / year.ย 

To learn more about Arib’s incredible story, make sure you check out our conversation with him inย the WGMI Podcast.

He didnโ€™t spot this opportunity by accident. It didnโ€™t scale to millions of users by accident.ย 

He learned how to start and scale a large software company, then executed it flawlessly.

We asked Arib what he would do if he had to start all over againโ€ฆ thatโ€™s when he revealed his $1M AI SaaS Playbook.ย 

ย 

The $1M AI SaaS Playbook: Become a ‘Dealmaker’

Arib strongly believes there is still lots of opportunity to create successful AI software products.

The quickest way to pull this off without money or coding is to become a โ€˜Dealmakerโ€™. Here’s how:

Step 1: Think of an AI software idea

The trick is to find a custom use case for the open-source AI models.ย 

Arib usesย Arxivย andย Hacker Newsย to find the latest AI models. Make sure youย watch the WGMI Podcastย to see how Arib brainstorms custom use cases for these AI models.ย 

Step 2: Find distribution

You need to team up with a creator with a large audience. That audience should be made up of people who would be interested in using your software.

For example, if youโ€™re building an AI tool that allows users to make custom images of their dog (e.g. their dog on the moon, their dog in Paris etc.), youโ€™ll need to find someone with a large audience of dog owners.ย 

To get the creator on board, you’ll need to pitch your idea. To do this, you have two options:

  1. Get Figma designs: Get a designer on Fiverr to create a wireframe design.ย 
  2. Build an MVP with No Code: You can very quickly build a functioning software prototype without writing any code. In the WGMI Academy, you canย learn how to build a SaaS from scratch in a few weeksย (if not days).
ย 

Here’s the deal: You make the software, and the creator shares it with their audience for a percentage of the business.ย 

Step 3: Find a developer

Armed with a SaaS idea and guaranteed distribution, you have what every software developer dreams of.ย 

With this leverage, many developers would happily build your software for a percentage of the business. To find devs, Arib uses Discord groups likeย AI Hub.ย ย 

Now, you have the software and the distribution… it’s time to start making some money.ย 

ย 

I want to learn more about building software

To learn more about Arib and his software journey, go ahead and watchย this episode on the WGMI Podcast.ย This guy is seriously impressive.ย 

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๐Ÿง 

4 Productized Services Examples (Turning Simple Skills Into Million Dollar Businesses)

The Productized Agency model is magic.
It turns simple, narrow skills into multi-million-dollar businesses.
Here are 4 people who have capitalized ruthlessly by productizing their services:
ย 

1.ย Roast My Landing Page

Oliver made $20k/m helping people improve their landing pages.
  • Service: Oliver audits your landing page and tells you how to improve it
  • Pricing: One-time fee of $350
ย 

2.ย WP Buffs

WP Buffs makes $137k/m helping people keep their WordPress websites updated.
  • Service: WordPress website maintenance
  • Pricing: 5 monthly plans that range from $79/m to $447/m
ย 

3.ย Cold Email Studio

This agency makes $240k/y helping companies with cold emails.ย 
  • Service: Helps businesses find more customers by planning and executing cold email outreach campaigns
  • Pricing: Monthly plans starting from $3,000/m
ย 

4.ย Boldly

Sandra’s agency, Boldly, hit $4.9M in revenue in 2023.
  • Service: A subscription-based staffing service. It allows you to find high-quality Virtual Assistants quickly
  • Pricing: Depends on the VA’s weekly hours. Packages start at $2,360/m for 40 hours
ย 
We are living in a small window of opportunity for anyone to make unimaginable amounts of money providing simple services.ย 
To see 5 more examples of people making ungodly profits by productizing their skills,ย check out this post from Brett.ย 
P.S. If you know any freelancers, tag them in the comments of that Tweet… they’ll thank you for the knowledge!

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