Making $50,000/Month Building MVPs For Non-Technical Founders

Hello! Can you introduce yourself and tell us about your business?

I'm Ayush, the founder and CEO of Byldd.

Originally from India, my journey has led me from the vibrant streets of New York City to the dynamic world of startups.

As for my age, I'm in my thirties and loving every moment of this entrepreneurial journey!

Before Byldd, I spent a lot of time at early-stage companies in different product roles ranging from junior developer to senior engineer and eventually CTO at early-stage and scaling companies.

Now, about my venture, our aim is simple: we're on a mission to democratize software entrepreneurship. What does that mean?

Well, we're making it easier for non-tech founders to jump into the software business world by turning their startup idea into a revenue-generating product.

We make Minimum Viable Products (MVPs) for founders.

These MVPs are strategically built to address problems well enough that customers are ready to pay for them. It's all about getting that initial revenue stream flowing and then refining the product based on customer feedback. 

How did you start this business? Take us through the process.

The journey of launching Byldd was fueled by a combination of factors, each contributing to my desire to make a significant impact in the world of startups.

Prior to embarking on this venture, I was immersed in the fast-paced environment of various early-stage companies, wearing different hats in product-related roles.

From my beginnings as a junior developer to eventually assuming the role of a senior engineer and later a CTO, I gained valuable insights into the challenges that startups, particularly those led by non-technical founders, face in their quest to build successful products. The spark for Byldd came from seeing this struggle repeatedly in the New York startup scene. Many founders had big ideas but couldn't make their first version of the product well. They'd spend lots of money on development firms, but the products didn't connect with customers.

So, I wanted to create a solution for non-tech founders to build their first product without breaking the bank. Our journey with the First Product began in a unique way. A friend asked for help with their food delivery platform. Even though I had a full-time job, I took on the challenge. I hired engineers in India and worked nights and weekends to build the product. Alongside this, I developed our special tool that writes code automatically. This tool became the foundation of what we do now and helps us offer affordable solutions.

It took us nearly 8 months to launch that first product when we didn’t have our tools. These days, it takes us less than 30 days to launch a similar product. In terms of investment, we adopted a bootstrapping approach for Byldd's inception.

We didn't rely on external funding sources or significant initial expenditures. Instead, we focused on optimizing our resources and capitalizing on our expertise to keep costs under control while delivering exceptional value to our clients.

How did you get your first initial customers?

Ah! The biggest struggle of any startup.

Our initial customers came through referrals. Our existing clients were satisfied with the service we provided and they spread the word to their network. A gradual but helpful chain reaction - happy clients recommended us to people they knew who were looking to start their own businesses and these new entrepreneurs trusted us to kick off their startup journey.

Since I come from an engineering background, diving into sales was new territory for me. I wasn't experienced in sales, so I read books and sought out mentors to bridge the gap. Selling is crucial for a founder - whether it's selling the product to customers or the vision of the company to potential employees. In terms of marketing tasks, our early focus was on providing exceptional value to our first clients. This built trust and credibility, which naturally led to positive word of mouth.

As our reputation grew, people started to reach out to us based on these recommendations. In the beginning, we didn't have a huge marketing budget, so we leveraged the power of online platforms. Our website served as a hub of information about our services, guiding potential customers through what we offer and how we can help them. We also utilized social media to share success stories and engage with our audience.

While our initial customer acquisition was largely through referrals, we are now looking to expand our sales efforts. We're working on building a sales engine and assembling a team with strong technical sales experience. This will help us reach a wider audience and provide more value to startups in need of our services.

Since launch, what are your marketing strategies or channels to get new customers?

Since our launch, we've been continually refining our marketing strategies and exploring various growth channels to connect with new customers. Here's how we've been promoting our business:

1. Referral Network: Referrals remain a strong channel for us. As our satisfied founders share their positive experiences with others, it creates a ripple effect of new leads reaching out to us.

2. Content Marketing: We believe in the power of educational content. Our blog posts, articles, and guides offer insights into startup challenges, MVP development, and other relevant topics. By providing value through content, we establish ourselves as thought leaders and attract organic traffic to our website.

3. Social Media Engagement: We maintain an active presence on social media platforms, sharing success stories, industry news, and helpful tips to engage with fellow founders and the startup community.

4. Online Communities: Engaging in relevant online communities, forums, and groups allows us to contribute to discussions and provide insights. It's a way to showcase our expertise and connect with potential customers seeking solutions.

5. Search Engine Optimization (SEO): We optimize our website for search engines to ensure that startups looking for MVP development services can find us easily when searching for relevant keywords.

6. Paid Advertising: While not our primary focus, we occasionally use paid advertising on platforms like Google Ads and social media to target specific audiences and boost our reach.

Our approach to promotion is centered around delivering value, building trust, and engaging with our target audience through various online channels. As the startup landscape evolves, we are committed to adapting our strategies to effectively reach and serve the needs of budding entrepreneurs.

How does your business make money?

Our business model at Byldd is centered around providing value-driven services to startups and entrepreneurs.

We monetize our services through a straightforward pricing structure tailored to the needs of our clients.

Our revenue comes from the following sources:

1. Minimum Viable Product (MVP) Development: Our primary offering involves crafting revenue-generating MVPs for startups. We charge a competitive fee for our MVP development services. The cost varies based on the complexity of the project, the features required, and the specific needs of the client.

2. Custom Development: In addition to MVPs, we also provide custom software development services to address unique challenges faced by startups. The pricing for these projects is determined based on the scope, complexity, and requirements outlined by the client.

3. Value-Added Services: We offer supplementary services such as product design, consulting, and ongoing support. These services are designed to enhance the overall experience of our clients and assist them in achieving their business goals. Pricing for value-added services is determined on a case-by-case basis.

4. Automation Tools: We have developed proprietary tools that automate various aspects of software development, allowing us to streamline processes and reduce costs. While these tools contribute to our efficiency, they are not monetized separately; their benefits are passed on to our clients as these save a ton of time to build out recurring features in products.

Our pricing strategy is transparent and aligned with the value we provide. We aim to offer accessible options for startups while ensuring our own sustainability. Our commitment to fair and reasonable pricing reflects our dedication to supporting early-stage businesses on their journey to success.

During the initial phase, I was fortunate to have some savings to rely on, and I also took on consulting work on the side to help cover expenses. In those early months, the business was making around $500 in profit.

As time went on and we honed our approach, we gradually saw our revenue start to grow. Our focus on delivering value and refining our services contributed to a steady increase in Monthly Recurring Revenue (MRR), reaching around $50K.

I must admit, the first year was quite modest in terms of profits, but our dedication and strategic efforts eventually paved the way for our growth and success

Before you go, what advice would you give to another who wants to start a business like yours?

What’s your OOTM - one metric that matters? This is something that you need to think really hard about as a founder - make sure it’s not a vanity metric like views or downloads - and that it’s as closely tied to revenue or profit as possible. Focus on that number and make sure your business efforts are tied to making it go up. Running a business has a lot to do with momentum.

Starting out is going to be the hardest part but when you get that wheel turning and that flywheel effect going, all subsequent steps will only make it easier and add to your momentum. Hang in there.

Running a business is also incredibly difficult. You will get tired of day-to-day operations over time so you need to hand that off to smart, capable managers. Hiring well is critically important and not easy - study the hiring process, best practices and learn from mentors where you can. But ultimately, trust your instincts when it comes to hiring.

Where can we go to lean more about you and your business?

Here are some links you can go to learn more:

Website: https://byldd.com/ 

LinkedIn: https://www.linkedin.com/in/ayushsinghvi/ 

Twitter: https://twitter.com/singhvi_ayush