This Pioneering SaaS Business Makes $15,000 A Month

by Eric Lam - Published 12/26/2023

Who are you and what does your business do?

I’m Mike Blumenthal, Founder of SaaSLeadFlow.io and I started building SaaS companies from my college house in 2016.

Since then, I’ve helped start and scale SaaS companies across the world and worked with companies such as Ford Motor Company, Coda.io, Rize.Education, DimeADozen.ai, Affistash, and many more.

Right now I am providing a productized lead generation service and Fractional CMO services to Busy Founders at B2B SaaS companies.

We help busy founders scale their lead flow by setting up scalable outbound engines, sales assets, and sales systems to generate monthly recurring revenue.

What inspired you how did you identify the opportunity?

Entrepreneurship is in my blood. My great-grandfather was a kosher butcher in Detroit. My great-uncle used the byproduct to create a successful soap-making business at a nearby factory. My father started his first business at age 13 selling candy out of his house. I watched him build businesses growing up and always wanted to start my own.

In college, I caught the entrepreneurship bug too.

I started working for a small tech startup that had proprietary screen-recording technology (think Hotjar but 10 years ago). We would use these insights to improve UX, click-throughs, conversions, and more. I became obsessed with data-driven insights.

From there, I learned digital marketing, growth marketing techniques, and how to build a tool that has recurring revenue use cases.

I realized this was my thing when I took Dentalinsider.com from 0-> 6000 users in 9 months using SEO and cold email.

One of our tools that we built still gets 80,000 unique visitors per month!

Proof Of Metrics

Can you describe the moment your business idea first came to mind?

SaaSLeadFlow.io had more of a natural progression than “aha” moment, but I would say the vision really became clear in 2022 after I lost my mom, Elizabeth, to breast cancer. I had an existential crisis - what is this all for?

I realized she dedicated her life to helping others. She was so selfless and always asked what she could do to help you.

I looked back on the first 7 years of my professional life and saw a similar trend.

So in the grief, I decided it was going to be my mission

To help others build the business of their dreams.

What were the biggest challenges you faced in the early stages of conceptualizing your business?

The biggest mindset challenge has been setting up the business to be enjoyable every day.

I’ve built quite a few businesses and burned out several times.

Why?

Because I did not enjoy the day-to-day.

Working with business coaches has helped show me new ways to think.

I now focus on building a business authentic to me with people I enjoy.

I like to work with founders who share the same vision and goals with the business.

It makes things much easier when you know where you are going and have as shared vision of how to get there.

So focusing on what I do enjoy and trying to delegate the rest has been key 🔑

Building a service-based business from scratch is very difficult.

I’ve tried many models including coaching, consulting, and joining as a partner.

Ultimately, I realized the productized service model works for me because it has the most repeatability for helping founders over and over.

Marketing is nebulous and keeping it simple, helps everyone.

AND the business will be more successful when they delegate tasks that are not uniquely good at (i.e marketing / lead generation).

How did your personal background influence the development of your idea?

I’ve always been a self-starter. My parents never had to tell me to do homework, my boss never had to assign me work, and my clients let me set up and run the top-of-funnel part of their business.

I have found that technical founders in particular will self-sabotage.

Particularly with marketing, lead generation, and sales because it is UNCOMFORTABLE.

So I take their headache and make it my ideal business day.

Building a business by Working leads and growing their monthly revenue as a teammate.

SaaSleadflow's June Revenue

How did you validate and assess your ideas potential market success?

When I work with founders on validation it is quite simple.

Here's my 4 step playbook:

1. Find the market

2. Research the competitors

3. Find a gap

4. Attack it

How do you find the gap?

Customer interviews help tremendously

Also looking at key data like Eric does with search term volume for his newsletter Exploding ideas is a great way to view trends. People will tell you what they want if you ask the right questions and listen.

For SaaS Lead Flow, I validated the business through 7 years of hard work, lessons, a few f*ck-ups, and finding what works best for me.

Seriously, I have worked 2 jobs simultaneously since I was 20 years old to prepare me for the days when you have to put in 18 hours because nobody else is going to do the work for me.

Every SaaS is different, every marketing plan is different, every customer type is different.

I learned to deeply empathize with the ideal customer and it helps me hunt users for nearly any type of B2B tool.

What were some initial assumptions about your business that changed?

I thought I would enjoy the coaching model more than I actually did.

It seemed idyllic to me to simply help people see the path and then let them take it. I realized very quickly I was not getting fulfillment from the sidelines.

Now I work in the business with founders. A done-with-you service that has an emphasis on partnership and results in the form of leads, pipeline, and revenue.

I recently switched to a productized service offering and it has been incredible for cash-flow and simplicity. Marketing can be such a fluid and fleeting activity.

I found this simple 3-step process and productized service model has created incredible clarity for founders to understand the process and realize value VERY quickly.

How did you gather the resources and support to launch your business?

I believe in the bootstrapped philosophy and have always self-funded businesses.

Go work as a freelancer or with a company in a role that is similar to your desired business venture. You will learn INVALUABLE skills from making the sausage every day. And that’s how you grow your skillset.

The most important resource you need to focus on is your skillset. Investing in yourself will ALWAYS have the best ROI.

I would also recommend a mentor or coach that is a few steps ahead. I’ve been working with coaches for years and they provide tremendous value in the form of reflection, clarity, and wisdom.

I use this analogy - why do you use a mirror? To see the things you otherwise could not

A coach is your mirror.

In what ways has your business evolved from its original concept?

SaaS Lead Flow v1 started truly as a coaching/consulting model (pearlbusinesscoaching.com) where I did not work IN the business with you,

My coaching program included templates, project management, accountability and metrics-based growth activities.

There were 2 realizations from the coaching-only model:

1. I did not get as much fulfillment even when my clients were getting fantastic results.

2. People don’t pay for your advice, they pay for solutions to their problems. It is much easier to provide a solution that they want with a hands-on approach.

I helped Henry at TricycleDay.com go from $0 -> $35k in revenue in 4 months last summer as a coach.

I’ve helped top employees become equity partners in the businesses they helped build.

Most people conceptually know what they need to do, but they actively avoid it.

The thing you are actively avoiding is likely the thing you must do.

I help you do the thing you must do even when it sucks.

What advice would you give to entrepreneurs who are developing their own business ideas?

Do your research then take action quickly!

I just led two days of founder workshops in Boston and the entire emphasis of the 2 hour programming was market and customer research.

With AI tools, you can take the research phase down from hours to minutes if you do it strategically.

Then get to work!

Solving a real pain-killer problem is the key to building a sustainable business.

Conclusion

Mike Blumenthal's journey with SaaSLeadFlow.io illustrates a powerful blend of entrepreneurial spirit, innovative thinking, and a deep understanding of the SaaS and tech industry. From the early influences of his family's entrepreneurial ventures to his personal commitment to aiding B2B SaaS companies, Mike's story is one of resilience, continuous learning, and an unwavering dedication to helping others succeed.

FAQ

Q1: What services does SaaSLeadFlow.io offer?

A: SaaSLeadFlow.io provides productized lead generation and Fractional CMO services, focusing on scalable outbound engines, sales assets, and systems to boost monthly recurring revenue for B2B SaaS companies.

Q2: How did Mike Blumenthal's background influence his business approach?

A: Mike's self-starting nature and exposure to entrepreneurship from a young age shaped his hands-on, solution-focused approach. His experiences taught him the importance of addressing client pain points directly, rather than just offering advice.

Q3: What was a pivotal moment in the development of SaaSLeadFlow.io?

A: The switch to a productized service offering marked a significant shift, simplifying the business model and enhancing cash-flow, thereby providing clearer value to clients quickly.

Q4: How does Mike validate business ideas and assess market potential?

A: Mike's validation process includes market research, competitor analysis, identifying gaps, and attacking them effectively. He emphasizes the importance of customer interviews and analyzing key data for trends.

Q5: What advice does Mike offer to aspiring entrepreneurs?

A: Mike encourages entrepreneurs to conduct thorough market and customer research, leverage AI tools for efficiency, and act swiftly. He stresses solving real problems to create sustainable businesses.