I’ve been doing online marketing for the past decade, promoting my own stuff as well as businesses of other people but I’ve recently transitioned to working on my own SaaS product and I can say that there’s really nothing like it.
I love e-commerce, I love the agency model but right now, I can definitely say that I am in love with the SaaS model. I definitely prefer it over the traditional agency model.
Sure, the agency service model will net you bigger returns per contract but with a SaaS model, you own the product, you get a more predictable monthly income, you can scale faster, you have more possible solutions to explore for various problems, and you definitely are in control of your destiny. You control what you product becomes, what you do to acquire users, to activate them, to convert them and so on.
The actual product part is a lot of fun for me to be honest. Being part of the brainstorming, development and feedback loop is just so much fun.
Though it can get overwhelming fast, I definitely enjoy the process. If you don’t enjoy this part but like SaaS, be sure your partners love this part because your product will suffer if nobody on the team actually loves to improve it.
The challenge is also really crazy, both mentally and physically, at least for my most recent startup, SeriousMD.
The mental toll from all the product iteration, promotion efforts and so on, while traveling and meeting with users from all parts of the country is draining and balancing that with personal matters… well, let’s just say that I have to keep reminding myself of why I’m doing these things to keep myself sane LOL.
HIGH BARRIER TO ENTRY
SaaS is not for everyone. It also takes a lot of time and you’ll need a very good idea. You’ll also need a solid way to acquire users, activate users and build a good feedback loop.
If you’re a bootstrapped SaaS, then you’ll have to double the level of the challenge and if you’re a funded company, well, that has it’s own challenges.
On the flip side, there are less competitors and sometimes, practically zero direct competitors and that’s why I love it. For me, competitors in the market is just a nice to have but I’d rather be the only recognized player and have a monopoly especially on emerging industries.
Anyway, this is just a quick post and it’s by no means telling you that SaaS is better than what you are doing now. This is just here to inspire soon-to-be SaaS founders and those already in the trenches with their own SaaS to remember what made them love SaaS so they’d push on and succeed.