Becoming an entrepreneur is like a right of passage in the digital age. From the gig economy to One Person Million dollar companies to Tiktok influencers, business opportunities are endless.
If you want to create your own business, it can be hard to decide where to start. Here at Blobr, we believe in API Product businesses. We believe in them so much, we created a platform designed entirely around setting up and scaling API products.
We work with API product businesses every day. When you create an API product for your business you will go through the same challenges as any other entrepreneur. You are choosing to step into a leadership role, while at the same time needing to understand every aspect of your business from development through to marketing and sales.
If getting started feels overwhelming, then you’re in the right place. We’ve put together a simple 5 step guide to show you exactly how to set up and scale your API product business.
Step 1: Find your API business idea
The API economy is growing exponentially. There is no shortage of opportunities to create API products that help companies modernise. However, it can be hard to know where to start.
The most common way to come up with a business idea is to think of an API that solves a problem you’ve personally faced. It can be from your professional or personal experience.
Another way to find an opportunity is through a deep understanding of a certain industry. If you have a background in finance, retail, or use your knowledge to brainstorm as many ideas as possible. Every industry is benefiting from APIs.
Step 2: Create your API product
Next, it’s time to create your API product. Take an MVP (minimum viable product) approach and focus on 1 or 2 APIs to start with. There are 3 options to create your API product.
Firstly you can build it yourself. If you have some technical knowledge, set aside some time to learn how to build an API. There are many online resources that can teach you like Mindk and the open online course provider Coursera which has training from some of the top universities in the world.
Secondly, if you don’t have the time to learn then start with an intermediate option. Use the Excel API or the Google Sheet API to create your product.
Finally, if you don’t have a strong technical side, then use a low code tool. We have a full video guide to show you how to create an API using Airtable. Or use a tool like Integromat to automate actions through APIs.
Step 3: Set up your API business
Blobr is designed to make your API business set up a breeze. We’ve got security, infrastructure, monetization, and branding all covered.
All you need is a simple website, we suggest using a no-code site like umso. Pick a colour and logo to distinguish your product, and write a clear description of the value your product delivers. Sharing why you chose your business idea from step 2 is the simplest way to share the benefits of your product.
Once you have your website and the code for your API, you’re ready to upload it to the Blobr platform. It’s free to create a Blobr account. You will only pay when your API sells which makes it a no-risk decision. Upload your API to Blobr, add your business branding, and choose how you want to monetize your product.
For a detailed guide read our breakdown on how set up your API business in Blobr. We also have a video that walks you through how to monetize your API in under 30 minutes.
Step 4: Test your API product
You may be wondering where the step for your business plan and funding is. Really, all the information you need will be found through testing your idea.
Don’t hesitate with step 4. Once you have a product, get it out into the world. Until you can test your idea, you won’t know if you have a business or not. Blobr gives you the flexibility to share your API in a way that’s right for you. You have the options to:
- Make your API private and choose who has access,
- Set the access to semi-private for a wider but still controlled group,
- Or make your API public for anyone to access
At a minimum find 1 real-world customer of your product. Before you have all your marketing and communication channels set up, find customers directly. Don’t worry about how your client acquisition will scale at this point, all you need to do is prove your hypothesis that your API solves a real business need. Through testing your idea you can further refine your message, branding, and product.
Step 5: Scale your API business
Congratulations, you have an API business that is in demand. You also have data to prove your business case and try out new business models. As an entrepreneur, your key role will be a business strategy. Now is the time to decide if funding is right for you, or if you’ll continue to grow organically. Blobr has an inbuilt dashboard where you can see all the usage statistics you need.
Make sure to get support at this stage. Find business mentors and advisors. Outsource as much as you can either through people or with technology and automation. With the Blobr platform, you already have a low code solution that was built for scale. Blobr is available globally, has low latency, and is fully secure. We have your customer's best interest in mind so you know you’ve already taken care of the most important success factor: customer satisfaction.
Unlike other platforms that charge you according to the number of clients, APIs and API products you have, Blobr is completely free to start. Our payment structure works on the number of calls made to your API, which is perfect for scaling your business. We give you the first 10k calls for free. You will only start paying when your business is already a success. And we have the infrastructure and payment plans to support you as you scale.
The rewards of entrepreneurship
A successful API product business is life-changing in more ways than one. Of course, there is the financial reward. Companies like Stripe and Twilio are proving what is possible for API businesses and we’re only getting started. There are personal rewards too.
Like traditional rights of passage, being an entrepreneur will put you to the test. It will challenge your beliefs and push you to new responsibilities. These rewards will come each step of the way. From thinking like an entrepreneur all the way to scaling your business. Enjoy the process and know you have Blobr by your side.
We’d love to hear about your experience using Blobr. If you have any questions or need support, please get in touch. To get started, sign up for your free API portal.