The guide to growing your SaaS Startup

1-. 4 Key Ingredients For Your Startup Success

• Justify your product’s existence at this specific point in time.
• Identify and leverage the ‘unfair advantage’.
• Validate your idea and find a market for your product.
• Passion/resilence.

2-. Positioning and Branding Your Product

• Visualise the specific contexts and circumstances where using it will make a difference for your customers.
• Discover and leverage the customers’ Jobs-to-be-done.
• Pick a brand name that’s easy to remember, write, and pronounce.
• Showcase your product in action with images and videos.
• Use testimonials that address your customers’ objections and allow them to visualize how your products will help them.

3-. Finding and Maintaining Product/Market Fit

• Use one-on-one interviews to get to know your customers.
• Get in touch with your support team and find out what customers are complaining about.
• If you are a small team, be the support yourself.
• Welcome feedback, but always weigh it based on customer value.
• Do not try to please everyone (think about your product roadmap).

4-. When, How, and Where to Get Funding.

• Try growing your SaaS startup as much as you can before raising funds.
• Make detailed plans of where you want to go and exactly how you are going to spend the money you raise.
• Study up on the differences between different funding ecosystems, so the overall legal/logistical/practical process can be smoother.
• VC funding is not your only option: familiarize yourself with alternative models.
• Account for the substantial amount of time you will need to prepare all the documentation and deal with prospective investors.

5-. Pricing Your SaaS Product

• Do not improvise it.
• Pay attention to monetization and retention.
• Get to know your (current and potential) customers.
• Use a Price Sensitivity Meter to uncover your optimal price bands

6-. Launching Your Product and Getting Traction

• Research and be aware of your competition.
• Focus on providing real value to your users.
• Do not improvise your product launch.
• As you get started, run small experiments and tests to find the 2-3 channels that will give you the most traction.

7-. Setting Up Your Business Operations

• Learn the fundamentals of MRR, gross margin, expenses, and cash fl
• Share your financials regularly and transparently with your team.
• Write your terms and conditions as early as possible.
• Build processes around your success criteria.
• Consider implementing agile practices across the business.
• Retrospectives are an easy way for you and your team to learn from your errors and successes and improve upon them.

8-. Growing Your Team

• Before jumping headfirst into recruiting, confirm that existing bottlenecks and limitations cannot be solved with more eficient processes.
• When bringing new people on board, hiring for culture fit and growth mindset should be your main priority.
• Try to bring in external experts or advisors when interviewing for a position you are not familiar with.
• If you are a mostly technical team, consider bringing marketers on board to help you build an audience.
• Ensure your onboarding process is smooth and repeatable.

At DIPCOM Corporate, we offer digital transformation services for SMEs:

• Identifying the threats / opportunities derived from digital transformation.
• Designing the best digital business model to face those threats / opportunities.
• Establishing the digital competitive advantage.
• Determining how existing technologies can help implement that digital competitive advantage.
• Selecting the skills and people to carry out the transformation.
• Leading the digital transformation process.

If you want to know more, contact us through one of our forms.

Source: The Essential Guide to Growing Your Early-Stage SaaS Startup