2 Things to Keep in Mind When Starting a SaaS Business
11 Dec 2012
This week, I met up with an entrepreneur who wanted to build a SaaS business. Most people want all the gyan and so ask you to tell them everything they need to know when building a SaaS business. However, this guy asked me to tell him just 2 most important things that he should keep in mind when starting a SaaS business.
He wanted the main course. No side-orders.
It made me think a bit. Focus. De-clutter.
I started…
Product ease.
The easier the product the better the chances of adoption without too much hand holding. You want people to come to your site, signup and start using your app without any friction. The on boarding process should be a no-brainer. Remember, these days people are impatient and have a lot of choices. Confusion will breed the thought of logging out and going to your competitor. In my opinion, design a simple product first.
Product benefits.
Sell benefits, not features. It doesn’t really matter if you have a lot of feature or very few features. What matters is if your product can demonstrate the benefit (or the value) to my business within a short span of time. For my new app, Brightpod, we started using Intercom, Kissmetrics and NewRelic and were just blown away the first week. These apps start collecting data from the very first day and show you how you can use the data to improve your business.
You could have a lot of funding or the best team but if you can’t build something thats easy to adopt and which can quickly show me value then no amount of money can help.