The majority of SaaS companies are making a big mistake that is lowering their revenue. I use to make it too... This mistake exists because SaaS is changing. People are more comfortable with bringing software into their business which means that they’re finding and buying SaaS differently than before. That’s all SaaS is, it’s just software as a service. It’s any software that helps a business make more money that they pay for monthly or annually. This is where SaaS
How do you find more of the right customers? People that will eagerly buy what you’re selling, with zero complaints…? AND tell their friends about it. What a dream! But rather than picking 4 leaf clovers, crossing your fingers and hoping the universe delivers these ideal clients to your doorstep... Don’t you want a system to filter out the customers that’ll buy from the ones that won’t?
Does this sound familiar? You have a high-output employee working for your company and then suddenly they lose interest and stop performing the way they used to. Or, even worse… they quit unexpectedly. You never saw it coming and - BAM - the tyres blow out and your business screeches to a halt while you try to figure out what went wrong. I’ve experienced this in my own businesses. And I see it all the time in others too! I
Recently one of my coaching clients exited his SaaS company for $90MIL. That was on $860K in monthly recurring revenues. Literally 100X his MRR became his selling price. In case that isn’t clear... He made $90 million in a single sale, walking freely into an early retirement. There is some serious money to be made in a well-built SaaS... When you hear stories of overnight millionaires, it’s often some tech founder who exited their company for a huge sale.
Pre-selling your software before you’ve even built it is a very attractive idea. Think about it: You get people to buy a concept, take that money and use it to build the software, and then you launch it to everyone else. ...All with no money out-of-pocket.
Have you asked anyone working a normal job about their workflow? If you get in the details of their processes, you'll immediately see the optimization opportunities. Just think of all the excel sheet management that goes on in the professional world… This is one of the main reasons why there can never be enough SaaS businesses. There are just countless niches that can deliver great profits.
Building a tech startup and pricing it right can feel like being lost in a jungle. You don’t know where to turn, what path is gonna get you out, and all you do is wake up in survival mode. Don’t worry, I’m here to help. I’ve personally gone through every pricing and product pivot you can imagine. Going freemium. Selling to Enterprise. Even trying hybrid approaches (e.g. marketplace with a monthly subscription). But today, I'm joined by THE guy that
Another episode of Escape Velocity, and another opportunity to level up your game as an entrepreneur! We are jumping right into a topic of major importance for your business - POSITIONING! Getting your positioning super tight and specific can be the holy grail of growth… and many of the major players in the SaaS space are proof of that! It all comes down to picking the low-hanging fruit… get to know your BEST CUSTOMERS - the ones who love your
I’ve seen this happen before… A business that’s already growing decides to start their own SaaS. It always seems like a great idea. You’re already serving your customers, you know their problems, and you’ve got company resources to work with... So it’s gotta be easier than starting from scratch, right?
And it goes like this: How much is it? - It's not that bad… Look, it's simple. Just give me a number. OK? - It's 20% - not that bad, right? WOW… Your churn is 20% monthly? *issues a small prayer to all the SaaS gods* The above is a conversation I recently had with a potential coaching client… GOOSEBUMPS! Let me put this into perspective...