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.
Seriously, the amount of opportunities is crazy. I have been in the industry for a very long time, and still continue to be amazed…for example today.
Listen to this…
I heard it from today’s Escape Velocity guest – the SaaS OG Einar Vollset.
He is a YC-alum, former Cornell CS Professor, founder of Discretion Capital and most recently of TinySeed – an exciting new startup accelerator designed for bootstrappers.
So when he told me about this business, I didn’t quite get it at first…
He was flippant as well when he heard about it from a friend, but eventually found out he was wrong. And you know what the business was…
A kitchen countertop installer software.
Amazing how niche, how specific, and yet successful SaaS companies can be. This is a very good example of the ENDLESS SaaS POTENTIAL.
Seriously, watch the full video below and see for yourself:
Here are some key takeaways from our conversations:
- The number of SaaS businesses and why it should be 100 times more
- Why institutional money is starting to move downmarket
- The investment thesis behind TinySeed.com
- Innovative models for financing and investing
- How a founder should chooses to exit a business
- Why M&A brokers are moving into the SaaS space
- And much much more…
This was a fun interview from start to finish, but I want you to focus on an insight Einar gave around 22 minutes in when I asked him what successful SaaS founders “do right” to achieve high growth.
His response was “I have no idea”… and he gave it straight away with zero hesitation.
Quite the opposite in fact, he was extremely confident, as a man with his diverse background and experience would be… as if telling me “This is the right answer!”.
What does that mean?
There you have someone who has spent many years in the SaaS space, has plans to invest in growing multiple businesses and he tells you that he has “no idea” about what is the right thing to do?! What kind of valuable advice is this?
It is way more than advice… it is WISDOM!
Einar can sit there and pretend to know what are the best things to do in order to make your SaaS company grow and be successful… but instead he is taking a page from Socrates’ book by telling you that real knowledge begins by admitting your ignorance!
NOBODY can know what will work, until you try everything and find out for yourself…
It is through the painful process of trial and error that you will find what you need to invest your time and effort in.
And be sure that there is always someone who can help you cut short the trial and error period.