How To Build a SaaS Product Within An Existing Business Without Going Broke
Want to build a SaaS product while operating a service or retail business? In this video, I teach you how to extract and build a software business from within your company without going broke.
Exclusive Resource: Migration Method™ – How To Build a SaaS Product Inside a Service Business The Right Way –
Why You Should Tell Everyone About Your Startup Idea –
How To Pre-Sell Your Software Product Before Building It –
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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?
Next thing you know it’s 3 years later and you’ve spent $7 MIL. and you HAVEN’T EVEN LAUNCHED!
This happened to someone I was introduced to hoping I could help them out…
You might wonder how it's possible, but trust me, when you don't have a good plan about how to build, co-create and launch your SaaS, it's too easy to go broke spending another $150K/month for an outsourced development company.
That's why in today's video I am going to walk you through the steps of building a SaaS business without losing all of your savings.
The 5 points in this video are super important. It’s not rocket science but you’ll be amazed at how easily they get forgotten. Here they are:
1. Solve your own problems first
2. Constrain the resources
3. Don't overbuild for someday
4. Hire someone external
5. Talk about it
I made this video to save businesses from tripping up on their own success.
A business starts to get some traction and some profits and then they lose it all on the SaaS Roulette Wheel.
It frustrates me because it can all be avoided.
It’s like they start making some cash and suddenly they forget everything they know about what made their business work in the first place.
The thing is: real success is never a gamble. It’s not accidental! It’s strategic and smart… from the start.
That’s why you’ve gotta check out this video. I just can’t let you make these mistakes and I want you to approach it the right way.
Don’t forget to leave a comment to let me know if this realigns your thinking.
Dan “tough love” Martell
Don't forget to share this entrepreneurial advice with your friends, so they can learn too:
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ABOUT DAN MARTELL
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“You can only keep what you give away.” That’s the mantra that’s shaped Dan Martell from a struggling 20-something business owner in the Canadian Maritimes (which is waaay out east) to a successful startup founder who’s raised more than $3 million in venture funding and exited not one… not two… but three tech businesses: Clarity.fm, Spheric and Flowtown.
You can only keep what you give away. That philosophy has led Dan to invest in 33+ early stage startups such as Udemy, Intercom, Unbounce and Foodspotting. It’s also helped him shape the future of Hootsuite as an advisor to the social media tour de force.
An activator, a tech geek, an adrenaline junkie and, yes, a romantic (ask his wife Renee), Dan has recently turned his attention to teaching startups a fundamental, little-discussed lesson that directly impacts their growth: how to scale. You’ll find not only incredible insights in every moment of every talk Dan gives – but also highly actionable takeaways that will propel your business forward. Because Dan gives freely of all that he knows. After all, you can only keep what you give away.
Exclusive Resource: Migration Method™ – How To Build a SaaS Product Inside a Service Business The Right Way –
“Solve your problem first, constrain the resources”. Great content!
Thx Yacine!
Your videos are extremely underrated, thanks for share this advices.
Great content! I resonate so much to talking about it and hiring someone to build it. Thanks!
How can I save this video to watch before I start new projects?!!!
🙂
Click the ‘Save’ button on Youtube 🙂 And add to your SOPs 🙂
Imagine wasting $7+ MIL. building a SaaS product… without even launching. Ouch. Here are the 5 steps to doing it right without going broke
Sadly, a common story 🙁
DM
I had a client like this who made his money in real estate (1B in managed assets). He had spent years again and again to no success on his SaaS idea, which was actually good and would have been great for hundreds of SMEs. But his mindset couldn’t adopt how to run a SaaS, he always argued it needs to follow the same process as building housing. I think he’s still trying, but I haven’t seen him launch until today and he burnt not just a lot of money, but also a lot of people.
First time that i see your channel
A former client (that we did Linux/DevOps work for) shutdown last fall… they had apparently burned through $90M trying to build a biotech SaaS business. Eventually realized they needed a lot more than single-digit client numbers, only paying $20/month and $3000 setup fee. Wow…
It happens all the time… hopefully everyone involved learned a lesson about TRUE customer validation.
Steve Blank wrote about it at nausea in 4 Steps to the Epiphany.