Chris, a productivity app developer, introduces his new app, Subscription Monster, designed to help businesses accurately identify their subscriptions using AI, and shares his process of market validation, development, and branding. He also updates viewers on pausing his previous app, Lily, due to high costs and competition, while expressing excitement to document the journey of building and launching his latest project.
In this video, Chris, a productivity app developer, introduces his latest project, the fifth app he’s building, which he initially created for a podcast workshop. The app aims to solve a common business pain point: accurately identifying all the subscriptions a business is paying for. Chris explains that while consumer tools like Rocket Money exist, business-focused solutions are lacking and often inaccurate. He highlights the challenge of using AI to analyze bank statements for subscriptions, noting that existing tools only identify a fraction of subscriptions, making this a problem worth solving.
Chris shares his process of validating the idea by engaging with potential users on social media, who expressed genuine interest and willingness to pay for such a solution. He conducted market research and found minimal competition, which initially seemed promising but also raised concerns about the market size and profitability. He concluded that the problem is relatively small and not lucrative enough for larger companies to pursue, but it presents a viable opportunity for a solo developer like himself to create value and generate modest revenue.
To build the app, Chris quickly developed a minimum viable product (MVP) using new technologies like Remix, Convex, and Clerk, along with Plaid for bank account integration. The app uses AI to analyze transactions and identify subscriptions, and Chris documented the development process, including the number of AI prompts used for different tasks. He also focused on branding, creating a mascot called the Subscription Monster to give the app character and make it memorable, and launched a landing page that attracted around 30 sign-ups for the waitlist.
Chris also addresses the status of his previous app, Lily, an AI meeting assistant that gained traction but has been put on hold. The main reasons for pausing Lily are the high operational costs, which would require charging users a premium price, and strong competition from well-funded apps like Granola. Chris is waiting to see advancements in AI technology and cost reductions before potentially revisiting the project, especially with interest in local AI models that could offer improvements over existing solutions.
Overall, Chris is excited to document the journey of building and launching Subscription Monster, sharing insights into app development, market validation, and branding. He invites viewers to engage with the series and follow his progress, while also providing updates on his other projects. The video serves as both an introduction to the new app and a transparent look at the challenges and decision-making processes involved in indie app development.