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
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