How does this simple website make $23K/month

Key Concepts:

• Excel Formula Generation
• AI/LLM (Large Language Model)
• Micro-SaaS (Software as a Service)
• No-Code Development (Bubble)
• Freemium Model
• Viral Marketing (Reddit)

Excel Formula Bot: A $23,000/Month Micro-SaaS

The core topic is the analysis of a website, Excel Formula Bot, that generates Excel formulas using AI and earns $23,000 per month. The video explores the business model, development process, and marketing strategy behind this seemingly simple yet successful online venture.

Functionality and Value Proposition

Excel Formula Bot's primary function is to provide users with Excel formulas based on natural language questions. For example, a user can type "How do I get the average of column A?" and the website will output the corresponding Excel formula. This is achieved using AI, specifically LLMs (Large Language Models).

Monetization Strategy: Freemium Model

The website operates on a freemium model. Users can access a limited number of formulas for free. To unlock unlimited access, users must subscribe to a paid plan costing $15 per month.

Market Size and Potential

The video highlights the massive market size of Microsoft Excel users, citing that over a billion people use the software. This large user base provides a significant potential customer pool for Excel Formula Bot.

Development Process: No-Code with Bubble

The founder of Excel Formula Bot built the website using a no-code tool called Bubble. This means that the website was developed without writing any traditional code. Bubble allows users to create web applications using a visual interface.

Marketing and Growth: Viral Reddit Post

The initial growth of Excel Formula Bot was driven by a viral post on Reddit. The founder shared the idea on Reddit, which led to a significant influx of users and attention.

Founder's Story (Starter Story Case Study)

The video references a Starter Story case study that details the founder's journey in building and launching Excel Formula Bot. This case study provides further insights into the development process, marketing strategies, and challenges faced by the founder.

Conclusion

Excel Formula Bot demonstrates the potential of micro-SaaS businesses that solve specific problems for a large audience. The combination of AI-powered functionality, a freemium monetization model, no-code development, and viral marketing contributed to the website's success. The video concludes by promoting the channel's content, which focuses on analyzing similar online business ideas.