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There's simply no point in arguing what gives a statistically better chance of creating a sustainable web business: a SaaS product or a B2C product (unless you're unbelievably lucky and manage to create the next Facebook). The purpose of this discussion in not the pros and cons of each approach. Instead I'd like to focus on the specifics of your future SaaS business, that will significantly influence your chance of becoming a successful webpreneur. Welcome to the first episode of Startup Growth Academy! Footnotes are avaliable on: www.growthhacking.biz/saas-is-sexy
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And you thought SaaS wasn’t sexy. Well, you were wrong.
Cindy PandosIlluminate VC
Do the things that
don’t scale.
Paul GrahamY Combinator
#Golden Rule
You want to build
a SaaS Product.
Maybe SaaS business model gives you 90% failure rate, but
that's still a lot better than 99,9% chance of not reaching
the unbeliveble IPO like Facebook or Twitter.
Sexy startups earn their own money, so forget the B2C market and build a SaaS
product.
In the first episode of Startup Growth Academy I will outline the business model checklist
for a potentially awesome SaaS product:
#1
One target group cut down to one very specific niche...
... but on a global market. Be lean, don’t be small. Find an at least one million dollar market
and go for it. *1
#2One painful problem, that
people from your niche want to solve, by paying you
money.
It means real market needs, that exist now. Not tomorrow,
not 5 years from now. Now. Forget trends, nobody knows
what’s gonna happen in 5 years. If you think you do you're just
cheating yourself. Stop. *2
#3
Subscription. You might say: "Thank you captain obvious" but you need users who pay every
month, or one year in advance *3
#4
Intense Collaboration. Collaborative means viral.
Viral means rapid growth. *4
#5
High retention. You want to build something people
need everyday. *5
#6
High CLV. You want to build something people will use
for years. *6
#7High price. It’s way better
to have 20 customers paying $2000, than 2000
paying $20. *7
Follow this checklist to create a potentially fast growing
SaaS product.
Footnotes are avaliable on:
www.growthhacking.biz/saas-is-sexy
Join FREE Marketing Course:
www.growthhacking.bizGreg Pietruszynski | @pietruszynski