Building niche SaaS while working a day job | Interview with Matthew Reid, Co-founder of PriceWell
In a rapidly evolving digital landscape, the podcast we’re about to dive into is not just another tech talk. It’s a journey through the challenges of building a niche SaaS business while juggling a full-time job.
Our guest, Matthew Reid, co-founder of PriceWell, brings a wealth of experience and unique perspectives to the table. This episode is a treasure trove of insights for entrepreneurs, developers, and anyone curious about the intersections of technology, business, and innovative thinking.
One striking takeaway from Matthew’s journey is his belief that “in the world of SaaS, sometimes the most complex problems have the simplest solutions.”
Who is Matthew Reid?
Matthew Reid, co-founder of PriceWell, stands out in the SaaS domain with a background in technology and business. Matthew’s journey is a testament to his resilience and entrepreneurial spirit.
His brainchild, PriceWell, revolutionizes how non-technical founders integrate subscription payments into their applications. Targeting users of no-code app builders like Bubble, PriceWell simplifies what was once a tedious task.
You can follow Matthew on LinkedIn & Twitter to learn more about his entrepreneurial journey.
Summary of the Podcast:
Building PriceWell: Solving Real Problems
Timestamp: [00:01 – 01:15]
Matthew discusses PriceWell’s inception, focusing on aiding non-technical founders. He describes the initial challenges in simplifying subscription payment integrations, highlighting PriceWell’s evolution to meet this need effectively.
Target Audience: A Shift in Focus
Timestamp: [01:53 – 03:06]
The conversation shifts to PriceWell’s pivot from technical to non-technical users. Matthew shares insights into understanding market needs and the importance of adapting to find the right audience.
Growth and Scaling
Timestamp: [03:06 – 04:26]
Matthew opens up about PriceWell’s growth trajectory, touching on the critical milestones of customer acquisition and MRR growth, and the strategic decisions that fueled this progress.
Balancing a Day Job and a Startup
Timestamp: [04:26 – 06:05]
Here, Matthew delves into the challenges and strategies of managing PriceWell alongside a full-time job. He discusses work-life balance and the benefits of a four-day workweek in nurturing his entrepreneurial endeavors.
Choosing the Indie Path over VC Funding
Timestamp: [07:08 – 08:28]
Matthew shares his rationale for choosing an indie business model over VC funding, emphasizing the freedom and reduced pressure it offers, aligning with his vision of a lifestyle business.
Acquiring Early Users and Feedback
Timestamp: [09:02 – 10:57]
The discussion turns to the initial stages of user acquisition and the pivotal role of feedback. Matthew talks about engaging with online communities and how it shaped PriceWell’s development.
Future Plans and Expansion
Timestamp: [13:24 – 14:45]
Matthew outlines PriceWell’s future, focusing on expanding to other no-code tools and payment providers, aiming to establish it as a leading easy-to-integrate payment solution in the no-code space.
The Role of a Co-Founder
Timestamp: [17:02 – 18:54]
Matthew reflects on his partnership with his co-founder, discussing the dynamics of their collaboration and how they complement each other’s skills in growing PriceWell.
Lessons Learned and Advice
Timestamp: [23:38 – 24:1]
Reflecting on his journey, Matthew suggests that starting with a niche focus can be more effective. He advises aspiring entrepreneurs to learn from the market and adapt accordingly.
Matthew Reid’s journey with PriceWell is more than just a success story in the SaaS industry; it’s a playbook for aspiring entrepreneurs and innovators. His approach to solving complex problems with simple solutions, his strategic pivots to align with market needs, and his balancing act between a day job and a startup are invaluable lessons.
The podcast episode with Matthew Reid of PriceWell is a must-listen for anyone seeking a deeper understanding of the nuances of building a successful niche SaaS business. For more in-depth insights, tune in to the full episode and experience the journey of a SaaS innovator firsthand.