Savvy Nomad · B2C · state tax exit service for expats
Focus on Americans abroad, the most underserved group your last startup kept seeing
Became a ~$1.7M/year business with little competition
What they did
What happened
- Stage
- Idea
In their words
I Make $1.7M/Year In The Most Boring Niche Imaginable
Pat Walls… to build something a little bit different." That's similar to what I did with Starter Story. I was also a software engineer and I got into media, I got into YouTube. Maybe there's something there where technical people can take their software skills and apply them to cool, boring businesses like this. Let's talk about boring ideas. How did you come up with the idea for Savvy Nomad? Where did that come from? How did you get the idea for this?
BoOn my side, because of the war in Ukraine, I was rebuilding my life and navigating a much more international reality. That pulled me deep into the world of international taxation and, eventually, into building a previous startup in the digital nomad tax space. In that process, I kept seeing that Americans were the biggest, most underserved group. My co-founder, he met surfers from California who had been abroad for years and was still stuck paying California state taxes. He recognized the opportunity and started building an initial version of the product. When he was looking for a marketing and business co-founder, we connected, and together, we turned this idea into Savvy Nomad.
Pat WallsOkay, so let's talk about the main reason why I wanted to bring you on this channel is that you built a boring or unsexy business in a boring and unsexy niche: taxation, taxes. So let's talk about this boring business. Why do you think that this business specifically, this boring business, worked and became a million-dollar business?
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More from this episode
- Turn one painful tax chore into a step-by-step product, then charge a subscription$140K MRR, ~$1.7M ARR, 1,400+ customers
- Ask a few questions, show how much tax they could save, then suggest a planMost customers finish the online part in under an hour; no conversion numbers
- Offer three plans for different customers and charge upfrontMiddle plan is the most popular; $140K MRR
Tags: underserved-segment, prior-venture-insight, unsexy-niche