What I Learned after building multiple SaaS projects
Harinderpreet singh
8 replies
Throughout my career, I have built multiple SaaS products. Building great SaaS products is not easy.
Even if you are non-technical and you think you will hire someone and they will build it, trust me it is not that easy.
However, I think I have learned that I shouldn't try to add multiple features at once.
We want to make our product awesome however when we try to do that it make things complex.
So build MVP launch it and gradually keep adding more features one by one. I repeat one by one.
When we try to add all features at once it takes a lot of time (Speed is 4 billion times more important than perfection)
And, you face a lot of bugs as well.
Please share your feedback on this!
Replies
Raju Singh@imraju
Idea -10%
community and listening to users - 40%
execution - 50%
Share
Build an MVP, ask for feedback, Reiterate 🔥🔥
Then at the end your product turned out differently than expected 🤪
@xavier_jj Story of every tech enthusiast Xavier😀😀
Launching soon!
@xavier_jj Do you concern yourself ever with the MVP not being good enough and the risk associated with getting users upon launch or rollout but once they churn / leave - it being really hard to get them back.. argument for waiting to release before the core offering is super flushed out... I don't know the right path but that is always my fear haha
@xavier_jj @dzaitzow When the core of your product is good enough for example if you have text to speech tools and it sounds amazing so if you have fewer voices, basic editor, then these things don't matter
Building is multiple Software as a Service (SaaS) projects can provide valuable insights and lessons. Here are some common takeaways that entrepreneurs often share after working on multiple SaaS ventures:
Understanding the Market is Crucial:
Knowing your target audience, their pain points, and the market dynamics is foundational. Each project should begin with thorough market research.
Customer Feedback is Gold:
Actively seek and listen to customer feedback. It's an invaluable resource for improving your product. Understand user needs and iterate accordingly.
Focus on User Experience (UX):
A well-designed, user-friendly interface is vital. Users are more likely to engage with and retain a product that is intuitive and easy to navigate.
Start Small, Scale Gradually:
Begin with a minimum viable product (MVP) and gradually add features based on user feedback and demand. Scaling too quickly can lead to inefficiencies and increased complexity.
Robust Infrastructure Matters:
Invest in a reliable and scalable infrastructure. Downtime and performance issues can significantly impact user satisfaction and trust.
Marketing is Ongoing:
Successful SaaS ventures require continuous marketing efforts. Even with a great product, users need to be aware of its existence. A combination of digital marketing, content creation, and community building can be effective.
Subscription Models Require Value:
Users will only pay for a subscription if they see value in your service. Continuously demonstrate and communicate the value proposition to your users.
Customer Retention is Key:
Retaining existing customers is often more cost-effective than acquiring new ones. Focus on providing ongoing value, excellent customer support, and loyalty programs.
Adaptability is a Virtue:
Be prepared to pivot if necessary. Market conditions, user preferences, and technology evolve. The ability to adapt to change is critical for long-term success.
Data-Driven Decision Making:
Use analytics to understand user behavior, track key performance indicators (KPIs), and make informed decisions. Data should guide your product development and marketing strategies.
Build a Strong Team:
Surround yourself with a skilled and motivated team. A successful SaaS project requires a combination of technical expertise, marketing skills, and business acumen.
Legal Considerations Are Important:
Understand and comply with legal and regulatory requirements. This includes data protection, privacy laws, and any industry-specific regulations.
Financial Management:
Keep a close eye on your finances. SaaS projects often involve recurring revenue, and managing cash flow is crucial for sustainability and growth.
Stay Passionate and Persistent:
Entrepreneurship is challenging, and setbacks are inevitable. Passion for your product and persistence in the face of challenges are essential.
Networking and Partnerships:
Building connections in the industry can open doors to partnerships, collaborations, and business opportunities. Attend industry events, engage in online communities, and establish meaningful relationships.
Remember, every project is unique, and these lessons may need to be adapted to fit specific circumstances. Continuously learning from each venture is key to long-term success in the SaaS space.