👋 Hey there!

This is the first open update for InvoiceRecover.  I'll be posting these updates every 2 weeks with my progress building and selling this SaaS product.

📨 Get notified via email when I post the next update.

Most of these updates will have short intros followed by a product, marketing, and business update.

Today I thought we’d start with a quick recap.

The start

InvoiceRecover started in February of 2021. I posted the tweet below and planned to share my journey going from 0-1 with a new SaaS product. I made good steady progress in February only to come to a screeching halt in March 😵

The screeching halt

In the end of March I posted a vague tweet about InvoiceRecover. "Some really exciting things have happened, but it means I'll have to put this on hold indefinitely. Hopefully some day I'll re-open this thread."

So what happened?

Well, I sold two different products, Booklaunch and Betterlance, to an Australian invoicing company called Invoice2go. Yay, acquisition! Here's the press release.

I spent the next 7 months working full-time with Invoice2go to integrate Booklaunch and Betterlance in to their platform. It coincided with a major company-wide relaunch that successfully positioned them to be acquired by Bill.com for $825M 😯. Yay, more acquisitions!

Needless to say, the lawyers at Invoice2go preferred I not be working on a side project directly related to…invoicing. Something, something, conflicts of interest, blah, blah, NDAs, yada yada yada, intellectual property. Anyway, I had to put it on hold while working with Invoice2go.

The restart

Now we're all caught up.

InvoiceRecover has sat stagnant for almost 8 months. And now I'm picking it back up 🎉

But this time I've updated my goals:

  1. Build a great product
  2. Build a resilient and easily sell-able company
  3. Document and share the process
  4. Sell it (YES, InvoiceRecover is for sale starting now. Read more below.)

So let's get going. This should be fun.

Product

What's the quickest path to launching an MVP?

The correct answer is NOT refactoring your code base to TypeScript and adding test coverage. So of course that's what I spent that past few weeks doing. 🤦‍♂️

I’m hoping this is a good move long-term because it means a more stable and easily sell-able product. In my last acquisition, not having ANY test coverage created some skepticism and slowed down the acquirers team from being able to integrate the product.

On a positive note, the past few weeks helped me re-familiarize myself with a codebase I hadn't seen in 8 months and led me to simplify the product.

I'll be launching with email collections only. Add an invoice and InvoiceRecover will automatically send a series of emails to collect on your past-due invoice. Thats it.

I still have some work to do, but a very clear path ahead. I'll share more updates soon on Twitter.

Marketing

How do I plan to grow InvoiceRecover?

In the short term I plan to work on two growth strategies:

  1. Direct 1-to-1 sales
  2. SEO and content marketing

These two strategies couldn't be more polar opposite. And thats why I'm picking them.

Direct sales is short-term. It will help me connect with customers immediately. The direct interaction will help me see customer needs first-hand and gain insights for the product roadmap.

SEO is long-term. I'm planting seeds that I hope to harvest six months from now. In my experience building organic traffic takes time, so I want to start this now.

You have to spend money to make money, right?

Maybe that's not always true, but I plan to invest ~$5,000 over the next six months to get InvoiceRecover growing.

I'll share how I spend this, and how it works out, in future posts.

Business

In the next few weeks I'll be creating an open dashboard so you can see InvoiceRecover metrics.

But for now, just imagine a bunch of empty charts and a lot of zeros. Zero users. Zero traffic. Zero MRR. Zero, Zero, Zero.

That's a great segue.

Are you interested in buying InvoiceRecover? Its for sale.

Along with open metrics I've decided to post an open for sale sign too. You can buy InvoiceRecover right now for $10,000 USD. See details.

When I picked back up with InvoiceRecover I decided that my goal was to build it and sell it. So why not start now? My last two products sold out of the blue at very early stages, so you never know what can happen.

Oh, and that price tag will go up. This is the lowest it will ever be.

Stay tuned.

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Hey! I'm Jake, the founder of InvoiceRecover — every month I send a newsletter with updates on my startup, signup below to receive it!

Get your overdue invoices paid.

“I got an invoice paid that was six months past due. I thought it was lost, but InvoiceRecover collected!”
Ben De Rienzo
Freelance Designer