Nico Scattino of MyFavor App On The 5 Things You Need To Know To Create a Successful App, SaaS or Software Business
To achieve ongoing success, prioritize self-care and wellness through physical exercise and a healthy diet. This will keep both your body and mind in top form.
As part of our series about the “5 Things You Need To Know To Create a Successful App or SaaS”, I had the pleasure of interviewing Nico Scattino.
Nico Scattino is a driven entrepreneur inspired by his father’s unwavering commitment to helping others. He created the MyFavor App, a platform that connects people in need with those willing to help, to honor his father’s legacy and encourage people to support one another. The MyFavor App is a celebration of the human spirit and a tool for making a positive impact in communities.
Thank you so much for joining us! Our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started?
Growing up in the small town of Vieste, Italy, I was fortunate enough to have a father who served as a shining example of what it means to be a true leader and a compassionate human being. My dad, a police chief, went to work each day without fail, always ready to help those in need. He would often bring me along with him, sharing his wisdom and teaching me the value of hard work and kindness.
It was common for people to stop my dad on the street and ask for his help, and he would never say no. Whether it was helping someone obtain a new driver’s license or recommending a young person for college, my dad would write down each request and work tirelessly to fulfill it. Despite the long hours and demanding job, he would always come home to my mom, telling her that if he had a euro for every favor he did, they would be rich.
Sadly, my dad passed away 10 years ago, but his words have stuck with me ever since. On his deathbed, he told me to remember the importance of helping others and to find a way to make a living doing so. This is precisely what I’ve set out to do, and the result is the MyFavor App.
The MyFavor App is my way of honoring my father’s legacy and making a positive impact in the world. By connecting those in need with those willing to help, the MyFavor App is making it easier than ever to do good and make a difference. Join me on this journey, and let’s make the world a better place, one favor at a time.
Can you tell us a story about the hard times that you faced when you first started your journey? Did you ever consider giving up? Where did you get the drive to continue even though things were so hard?
Building an app was never going to be easy, especially not when some people promised me the impossible. They said it would only cost 30–40k, but in reality, building an app professionally requires an investment of up to 100k or more with additional features. Each line of code takes months to perfect, and although the first few months were a breeze, reality soon hit as the finances changed dramatically.
However, giving up was never an option for me. It’s not in my family’s DNA to give up. But, there was a moment when I had a team meeting and I said, “Guys, we need to add a negotiation button to the app.” The team was hesitant, but I was determined. I remember thinking, “How can I make this happen?” So, I started to plan ahead and schedule everything carefully. The journey was full of ups and downs, but I never lost sight of my dream. One day, I even told my team, “Guys, don’t worry, I sold an organ to make sure we have 6 months of funding.” They were shocked, but I was serious.
Every morning, I wake up thinking not about why I’m doing this, but about how I’m doing it. There’s no turning back now, it’s time to take flight and make the MyFavor App a reality. Let’s go!
So, how are things going today? How did your grit and resilience lead to your eventual success?
As our journey with the MyFavor App progresses, we are seeing exciting new opportunities and great interest from investors. It’s not just a possibility, it’s a promise of success.
Mistakes are an invaluable source of learning and growth. I have a funny story to share about one of the biggest mistakes I made when I first started. I kept delaying the launch of the app, trying to make it perfect before going live. I repeated this mistake three times until a wise mentor pointed out that no app is ever perfect. It’s better to launch and start gaining traction, rather than wait for perfection. I learned a valuable lesson about the importance of taking calculated risks and embracing the imperfections of growth. Now we have a operational version that we have built thanks to many testers and have launched gaining a successful following that keeps on growing!
What do you think makes your company stand out? Can you share a story?
Amidst the cut-throat competition, we stand apart with our bold approach. Unlike others who merely offer a referral, we empower the people with the MyFavor App. Simply state what you need, and watch as the community rallies to fulfill your request. With MyFavor, the power of help is back in the hands of the people, where it rightfully belongs. Get ready to experience a whole new level of support and assistance.
The world has changed, especially after the pandemic, with many people now working from home and companies relying on automated phone answering systems and multiple-step responses. As a result, even simple tasks such as scheduling an appointment require multiple phone calls to companies where no one answers, wasting time until a live person can be reached. However, with the MyFavor App, the process is streamlined. Clients can write and post their requests, and the first available responder will take on the task, eliminating the need for wait time.
Which tips would you recommend to your colleagues in your industry to help them to thrive and not “burn out”?
A solid financial foundation is essential for utilizing your resources and succeeding on your path. By saving three times your initial budget of $100k you build a buffer to assist you weather any unforeseen bills or obstacles that may emerge. This helps you to concentrate on your job without the extra stress and anxiety that comes with financial concerns. Having a financial safety net also allows you to make smart investments in your organization without being concerned about emptying your resources. You can commit cash to research and development, marketing and advertising, or other avenues for growth that will help you meet your objectives.
In addition to prudent saving and investing, it is critical to regularly monitor your cash flow and spending. This enables you to make educated judgments about where to deploy your resources and make necessary modifications. Understanding your financials clearly also allows you to find areas where business may save expenses and improve efficiency. Ultimately, optimizing your resources needs a mix of strategic planning, sound financial management, and a willingness to react to changes and obstacles. You may lay a solid basis for long-term success by approaching resource management holistically.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story?
Despite being told constantly by my former colleagues in the car sales business that I wouldn’t be able to make it, that the competition was too tough and there were too many apps out there, I used their skepticism as fuel to succeed. I was the top salesman in the car business, and now I’m building a successful app. This was thanks to Arianna, someone who is very close to me and believes in me, and my brother Marco Baez, who has always been there for me and never turned his back. Both of them have always provided insight and have helped me to build this app. So thank you, Arianna and Marco, we will make it. I’m also grateful for the support from Dave Mady, who believed in me from the start, and my chief developer Max, who joined the team just two months ago but has already made a massive impact. Together, we will build a large, winning team.
Ok, thank you for all that. Now let’s shift to the main focus of this interview. Approximately how many users or subscribers does your app or software currently have? Can you share with our readers three of the main steps you’ve taken to build such a large community?
We are proud to have opened our doors just 10 days ago, and already we are seeing our vision come to life with 600+ users joining our platform, with my more joining! The key to success is in creating a community that shares your values and beliefs. By leading by example and being the first to step out and spread the word, we are empowering others to join us on this journey towards a brighter future.
The main steps we followed in order to grow our app community were:
- Getting all of the close people in your life to get excited about the app, to help with testing, and to tell others they know.
- Holding events, especially socials for people to get to know the app and do a small presentation explaining the app features.
- University exposition events to attract new young users which in turn tell their friends. This is also coupled with PR and marketing.
- An extra one, doing video presentations and sharing on social media to friends and attract new users to an app Facebook and Instagram page where they will see updates on the app.
What is your monetization model? How do you monetize your community of users? Have you considered other monetization options? Why did you not use those?
Our platform operates like Uber, where a small fee of 15% is charged for every transaction completed. Originally, we wanted to charge only a 5% fee, but after careful consideration, we updated our fee structure to 15% per transaction to help us provide the best possible service to our customers, while also covering our operational costs and allowing us to invest in continued improvements and innovation. Conversely, as soon as a FavorPal is finished with a favor and a user is satisfied, the FavorPal is paid and our platform collects 15% off the transaction.
In the future, we’re considering offering a subscription option for FavorPals to have access to an even larger pool of leads and opportunities. In this way favor providers can have a steadier source of income, especially if they want to work part-time or full-time on the app.
Thank you. Here is the main question of our discussion. Based on your experience and success, what are the five most important things one should know in order to create a very successful app or a SaaS? If you can, please share a story or an example for each.
- The idea must come from within: It’s essential to have a clear vision for your idea and believe in it 1000%.
- Budget three times more than what you initially think you need.
- Conduct thorough research on the team you need to develop your idea and ensure they can execute your vision efficiently.
- Once you have these three elements, it’s time to focus on the most indispensable aspect — yourself. 5. Believe in your idea wholeheartedly and be confident in your abilities.
- Immerse yourself in the company by quitting your job, and be the first to arrive and the last to leave to earn the respect of your team. Even if you don’t understand coding, act as if you do and demonstrate your expertise through the way you communicate.
6. This is my extra point: To achieve ongoing success, prioritize self-care and wellness through physical exercise and a healthy diet. This will keep both your body and mind in top form.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)
Everyone deserves to achieve their dreams, and with MyFavor App, that ambition can become a reality. With the app, you can build your skills, rent out your time, and start your own business without having a boss. People need your expertise, and by believing in yourself, you can earn the money you deserve. MyFavor App provides all the necessary protection to help you succeed.
One day, there will be an army of individuals doing small tasks all around the world, making life easier. The person who does the work should be fairly compensated, and that’s what MyFavor App strives to achieve. So, don’t hold back, start your journey towards financial freedom and success today.
How can our readers further follow your work online?
Readers can find more details and use our app on our website at www.MyFavorApp.com (available for iOS and Android). Visit our website today and download the app to experience the future of on-demand services!
This was very inspiring. Thank you so much for joining us!
Thank you for the opportunity to be here! I am truly grateful!