Sold: Text-to-Speech SaaS for Six Figures with Harinderpreet Singh, Founder of MicMonster

Foreign. I'm here with Horrender who recently got acquired for six figures. Surrender. How are you doing today?

I'm doing great. Just woke up early.

Yeah, I'm on a different time schedule so it's the end of my day. Beginning of your. Your day. So you got acquired for. For six figures. I'm excited to talk about that. But before we dive into all the details of Mike Monster and what it did, do you want to just give like a brief background of yourself for people Can I know you?

Okay, yeah, I can give out.

So.

Hello everyone, my name is Renderpree Singh and you know, as we recently got acquired for six figures. So you know, before working on that project I was working in the blogging and somehow recently came across this idea and I started working on it and yeah, it and I have applied all my SEO thing into it so we can bring organic traffic and you know that's how we, that's how I grow the product and then sell. Sell it through quad idea for the.

Product because I just, I just used.

It and Interesting story. So I tell you, basically I was doing affiliate marketing for SaaS products. Okay. I was you know, writing reviews and I'm, I was making some amount of money. But then that idea came into mind that what if I create a free tax to speech tool and you know, I can get leads and then I can mail that user that you know, you can pay for this as tool and this like that. Okay, so maybe that's a great idea. So I build a very basic version of it it and you know, I started collecting emails but I don't know what happened. Like, like I got 300 registrations but nobody bought anything from my affiliate link. Then I don't know what came into my mind. I thought of making it, you know, it a paid product and after that I, you know, add some additional features and I make a paid version of it. And yeah, it start, you know, one day, I mean I started getting sales even though I have sent mail to all the free registration that we have added these features and I got my first three sales from that team.

That's awesome. Yeah, I love just the simplicity of the product. I was able to type in just text and there was a lot of different voiceovers that automatically generated exactly what I typed in. It sounded very authentic. In terms of audio.

Yeah, yeah, yeah. I mean that you know, text to speech. Like we are in the AI era. Like it is, you know, really improving. I think this is the another reason that we got so much success because like that Thing is becoming better every day. Like even if you, you know, check any. There are only so many text to speech tools right now. Like all of them are becoming very natural in DDS compared to old days.

Interesting. Yeah, I was, I was very impressed at how smooth and natural the. Because you, you can just type in any sort of text and it sounds like a real human. Doesn't sound like robotic or choppy so. Well, on building the product now I want to you know, learn a little bit about more about the acquisition side. So tell me about what made you decide to list it on acquire.com.

Yeah, I mean you know from very starting I was like it was you know clear in my mind that I want to sell this product. Like all the numbers in my mind, my mind may be clear from the day one. Okay. So I was very clear that I want to sell this product at this price point. And you know, Koia.com I. I don't know how did I find out? I honest I don't remember. But I was also looking, you know, some other statues. I I just keep browsing. I mean a lot of interesting you know, tools are coming on quiet.com so yeah I thought of you know, why not list our product there? Because this marketplace is especially for SaaS products and I listed there and, and you know before that I have tried other platforms but we didn't got any success. But here we, I think you know we got wire like in the third or the fourth. Like it was instant.

So you got 30, 30, 40 NDA signed by potential buyers. We got, I was saying in terms of the amount of buyer interest you got 30, 40.

Yeah, a lot of people were contacting me but the you know the buyer like he also reached out to me on Facebook and acquired.com and he's told me that he purchased your subscription just to bought my product. And yeah, we got talking. I mean init we shared some information and then we talking about you know, price and we agreed upon a mutual price and that's how like it was really quick. I think within like I don't know remember exact days, but I think within 10 days we, we sold it like.

We agreed that is a fast transaction. Were you expecting that when you first listed on Aquartech that you would find you get that much interest and then you'd sell the product for six figures within ten days?

Yes. Yes. Yeah. I mean like this thing like there is no doubt like quite really helped me like within 10 days. I mean even if we like leave that thing there were some other Messages. I did not respond to those, those messages because, you know, I was getting the price where I want to sell it. So even if I did not get that offer, I think I still would have find another way through, through your platform.

How did you end up on the buyer that you decided to sell the business to? Was it just you both got the offer, was right what you were looking for. What. What about the buyer made you specifically choose that individual?

Uh, yeah. Okay, so they have a one product like in the similar space, like not exactly tax to speech, but another product in the same field. So like they were, they were looking for some, you know, project product that they can acquire and also market their existing product. Uh, and uh, yeah, so this was their thing and the like the journey of a transition to them, like it take some time because you know, for me, I mean it was my first SaaS product and I. That I was selling. So like we have. I made some couple of mistakes so. And yeah, like it took some time.

Nice. Yeah. I always recommend, you know, if you find a buyer that has, you know, like experience or knowledge about your product, specifically like an AI text to speech product and they're coming and presenting a fantastic offer within 10 days, I think that's definitely a good sign in terms of like, that's a good buyer to, to work with.

Yes, exactly. I agree.

So in terms of, you know, a lot of people are, you know, looking to sell startup SaaS products. If you had to give, you know, three pieces of advice for others looking to sell their businesses, what do you think those would be?

Okay, so I think I can give best advice in the SaaS product because that's what I'm working on and that's what I worked on in, in my past. So I think a number one is, you know, make sure there is an organic sal. It is, you know, it is keep selling itself. So this is the first advice and second thing is make sure your business is automated. Like there is no. A lot of involvement. Like, you know, for the new wire, they, they want something like this. I mean this is. I figured out after targeting a lot of wires that they want something that, you know, can make them money, you know, automatically so they can invest and they can keep making that.

I want to, I wanted to stop on that because that's really, really, really good advice. Some of the products and companies get the most interest from buyers have that attribute where a lot of the processes are streamlined or automated because there's a big risk where if, you know, you leave the business and there's a big operational part that the new buyer has to take over. You're going to get a lower valuation. So before going to market, I highly recommend looking for ways to streamline things, automate processes. Really just making. It's kind of ironic, but the more useless you can make yourself in the business, the more it's going to be worth when you go to sell it to a buyer.

Yeah, definitely. I mean, you, you have to create system that, you know, it should do things automatically. The thing is like, I don't know why, like some, some things are really simple and we make, we humans make it complicated. So make sure you keep things simple. And even if, I mean you are buying a product, you, Even if like all the sellers that are selling and even if you, you have to buy product like you want something that can, you know, that is automatically because when a new owner is coming into one specific product, like there is a learning curve and if you can reduce it for them, then it, it would be easy. You, you can sell it at higher price.

Yeah, I would agree with that too. Just basically making it easy for the buyer to understand the business. You know, I always say preparation is so key in terms of an acquisition. Just, even if you have just documentation or just common questions or, you know, definitely a P. All those items really help show that a buyer that you're serious and it helps them wrap their head around the business and so they're excited to get on a call with you and they already have a good understanding of the business. And that also increases the speed at which you can sell the business because you're helping the buyers so much by preparing in advance when you go to market. So great job there and congrats again on the acquisition. I guess my, my last question would be, what do you, what are you working on now? What's next?

Okay, yeah, right now, you know, after that selling that product, like I took a break because, you know, I just want to take a break and I travel here and there, did some other thing. But right now I am back. I'm working on a new thing. Like right now we are working on a, you know, speech to tax. Like previously it was text to speech. Now we are working on a speech to text. The thing is, you know, what is my mantra of building SaaS products or what I have seen with my previous product? Like if you can create a free version of your SaaS product where nobody is offering anything for free, you can get a lot of traffic and then you can, you know, add some new features and you can create a page. So this is my strategy with my new product listenmonster.com you know, we, we have created like PS2 tax pages. Like you can upload your audience, you can transcribe or you can get subtitles. So yeah, I'm working on that and currently it is completely.

That's awesome. I love how you're, you're stay pain in the same, you know, space if you will, but with a different angle.

Yes, yes, yes. I mean another thing is, you know, like one advice I can also give, you know, try to find if there is a new tech in your industry. I mean for example, speech to text like OpenAI released Bisper. It is a free speech recognition that they have launched software or I don't know what we call it project. So we are using that. I mean it is highly accurate and it is very affordable as well compared to, you know, other speech to taxi.

So if people wanted to, you know, learn more about your new product, where would, where would they go Online.

Like they can search Listen Monster or ListenMonster.

ListenMonster.com okay, we'll put that in the show notes. Well, thanks so much for, for coming on the podcast. I enjoyed hearing your, your story and congrats again on the acquisition and hopefully maybe you'll be back when you scale this business up and you get maybe a seven figure acquisition this next time.

Yeah, yeah, yeah, yeah. I'm hoping for that. Let's see.

All right, well, thanks for coming on the podcast and congrats again my friend.

Thank you.