I Couldn't Save Him From a 236,000€ Failure. It Was Too Late

About a decade ago, a determined entrepreneur, let's call him Jake, turned to me for advice on a go-to-market strategy. Little did I know, it would become one of the most glaring mistakes I'd ever witnessed firsthand.

After 15 years in the construction industry, he felt the tug of something new, something daring. And he already had a "groundbreaking" idea – a B2B sales platform that promised to "revolutionize" the industry.

To fund the startup, he made a bold move, parting ways with his profitable construction business where he held a substantial 50% equity stake.

While the construction business had been lucrative, it no longer sparked joy in Jake's heart. Thus, he put everything into his new endeavor, confident that his unwavering belief and long-term experience in the industry would carry him to success.

Jake spared no expense (236,000 EUR) in bringing his vision to life. He poured heart and soul into building his platform, envisioning a triumphant launch that would shake the very foundations of the industry.

He envisioned a "smart" launch, intending to use a database of 26,000 scrapped contacts with mass emails once the product was ready.??

He naivety believed he would easily bring at least 5,000 users to his platform and most would start paying a subscription fee.

Who could expect cold emails to convert at 19%? Freaking CRAZY! ??

When I heard his plan, I slapped my face - DAMN!

He didn't listen to me and didn't want to mess up with a soft launch and validate the product idea before pouring even more money into development.

The result?..

As the reality began to unfold, Jake found himself in desperation.

Three relaunches later, his platform got a mere 164 users – none of whom had opened their wallets to become paying customers.

When Jake returned to me with the dismal results, I struggled to contain my frustration. The words "I told you" hovered on the tip of my tongue...??

Jake's journey was marked by his unwavering belief in his product and vision. With over 15 years in the industry, his expertise ran deep, yet it also blinded him to crucial signals and red flags.??

Jake's product addressed the problem meaningful only to a select few industry insiders, including himself. This fundamental flaw led to two critical errors:

1. Firstly, he attempted to solve a problem that lacked urgency and importance to the broader market.
2. Secondly, the platform with all the bells and whistles, proved too complex for the average user to grasp.

In essence, Jake's endeavor resembled an attempt to sell a Boeing 737 to every tourist, by adding a free manual on how to pilot the aircraft.

Will Your Go-to-Market Strategy Hit The Mark?

Let's break it down.

Crafting your SaaS go-to-market strategy may seem straightforward: pinpoint your target audience, define your value proposition, and choose the right channels.

But how do you know if your plan is more than just theory? ????

How do you measure its effectiveness and efficiency, especially in the high competition markets?

I use three key criteria to evaluate your go-to-market strategy:

1. Have you tested it? Theory only goes so far. The real test lies in execution. Have you put your strategy into action and measured its results? Testing validates your approach. ????
2. Is it profitable? Beyond gaining users, the bottom line matters. Can you acquire customers at a sustainable cost? Look beyond immediate returns to assess if your strategy sets the stage for long-term profitability. ????
3. Is it scalable? Growth isn't just about acquiring customers; it's about sustaining that growth over time. Is your strategy adaptable enough to capture new opportunities and markets as your business evolves? ????

Let's Troubleshoot Your Go-to-Market Readiness

If you believe that marketing (and sales) is not something SaaS founders should take care... I can't help you. And I'm not sorry for that.

If you are like Jake blinded by ego... I can't help you.

If you hide in the bushes, don't show up and ask me... how, the hell, can I help you.??

But if you are about to launch your SaaS, or you've already launched it, and traction isn't what you expected, join me?? on a Live Workshop: SaaS Go-to-Market Troubleshooting .

To write the 'Startup Evolution Curve ,' (an Amazon bestseller featured on FORBES) I surveyed 1,447 startups and conducted nearly 700 in-depth interviews with founders around the world. ??

And guess what? ??

I didn't find a single startup that flawlessly implemented their initial idea without at least one major pivot. ??

A successful launch for a SaaS business is crucial, and we love to hear success stories. However, failures and iterations are often overlooked. ???

If you aren't happy with the traction and your current MRR, join me in this live workshop. ????

I'll share a step-by-step troubleshooting process to identify WHAT, WHY, and HOW needs to be fixed in your go-to-market strategy. ?????

I'm already preparing for the workshop. See you!