From Unemployment to $250K Annual Revenue: How Perfect Wiki Solved Microsoft Teams' Internal Knowledge Base Problem

Ilia, the founder of Perfect Wiki, shares his journey of creating a software-as-a-service (SaaS) product designed for internal company knowledge bases, seamlessly integrated within Microsoft Teams. His story highlights how he identified a specific market need, developed a solution, and achieved significant success without external funding or a large team. The Beginning In May 2020, Ilia lost his job due to the pandemic, which spurred him to explore new business opportunities. With the surge in remote work, online communication tools saw a massive increase in usage. Initially, Ilia attempted to develop a translator app for Zoom, but it failed to gain traction due to low traffic on the Zoom Marketplace. He then pivoted to the Microsoft Teams Marketplace, where he noticed higher engagement and a more vibrant community. A few days after uploading his translator app, he secured his first paying customer. However, the app lacked scalability, and Microsoft could easily replace it. Identifying the Niche Ilia delved into user feedback and discovered that the built-in Wiki in Microsoft Teams was a significant pain point. Users found it cumbersome, slow, and impractical. This insight led him to develop Perfect Wiki, a fast and user-friendly knowledge base that integrates fully with Microsoft Teams. He focused on simplicity, ensuring the product was intuitive and accessible to non-technical users, with essential features like page creation, editing, and a robust full-text search capability. Rapid Growth and Key Features The first version of Perfect Wiki took Ilia about three weeks to develop, using Node.js + Express for the backend and React for the frontend. Within days of its release, he began receiving subscriptions, validating his assumption that users were seeking a better Wiki solution. Over the past five years, Perfect Wiki has evolved significantly, now supporting over 500 companies across the US, Canada, the UK, and Germany. Monthly revenue has soared to approximately $25,000, with annual revenue reaching $250,000. Why Perfect Wiki Stands Out One of the primary reasons for Perfect Wiki's success is its deep integration with Microsoft Teams. Unlike competing solutions, such as Confluence or Notion, Perfect Wiki doesn’t require users to switch to a different site or tab, enhancing productivity and user satisfaction. Microsoft, recognizing the app’s quality, featured Perfect Wiki at Microsoft Build 2024, marking a significant milestone for the company. Perfect Wiki’s focus on simplicity and user-centric features has set it apart. For instance, the “search within a page” feature was added after multiple user complaints about the lack of this functionality in the built-in Wiki. Another user-requested feature is the weekly digest, which informs users about new or updated knowledge base articles. These enhancements are driven by direct user feedback, ensuring the product remains relevant and useful. Team and Operations The core team behind Perfect Wiki consists of just two people: Ilia, who handles development and product management, and his colleague, who manages user support. By keeping the team lean, they can maintain rapid iterations and efficient operations. Marketing and content tasks are occasionally outsourced, but critical product and code development remain in-house. Ilia emphasizes the importance of using their own product internally. Perfect Wiki hosts all their internal documentation, tasks, and plans, allowing them to identify and rectify issues quickly. This hands-on approach ensures the product meets its own standards of excellence. Financial Management Ilia’s financial strategy is straightforward and pragmatic. His monthly expenses are minimal, leaving a substantial profit margin. He initially aimed to earn a stable $70-80K a year, equivalent to his previous salary. Exceeding this goal has been a welcome surprise, and the product’s organic growth is a testament to its market fit and continuous improvement. Lessons Learned Niche Focus: Building a product for a specific, narrow audience can lead to deep user satisfaction and steady growth. Simplicity: A simple, user-friendly product is easier to sell and maintain, especially for a small team with limited resources. User Feedback: Actively engaging with users and incorporating their feedback is crucial for enhancing product value and staying relevant. Future Plans Looking ahead, Perfect Wiki aims to expand beyond Microsoft Teams. The product now supports Slack, integrates with ChatGPT, and can be used as a chatbot on websites or as a public support portal. Ilia and his team are dedicated to adding new integrations, improving search capabilities, and continually refining the user experience based on customer input. He believes the best is yet to come and encourages those interested in their journey to follow his Telegram channel and Twitter. Industry Insights and Company Profile Industry experts commend Perfect Wiki for its focused approach and user-driven development. The app’s success underscores the importance of identifying and addressing specific needs in the market, particularly in the realm of productivity tools. Ilia’s background in software development and his keen eye for user feedback have been instrumental in shaping the product. Perfect Wiki’s lean but effective operation model serves as a model for indie developers and small startups, demonstrating that significant revenue can be generated with minimal overhead and a strong value proposition.