Think You’re Ready to Start a SaaS StartUp? 8 Things That Will Help You Figure It Out

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For first-time CEOs, here’s my top list:

• Budget 24 months to get from launch to initial traction, to that first $1m+ in ARR.?It?always?takes longer than you’d ever think, especially in B2B / SaaS. Somehow, you have to find a way to fund it, hack it, do whatever it takes to budget at least 24 months to build a real business.?More?here .
• Maybe don’t do it if you can’t commit for 10 years.?It’s OK to have optionality in the early days. But if you deep down aren’t sure you want to do this startup for 10 years, assuming it does even just reasonably well … then you don’t have the fire. At least not this for this one. There are just too many apps, the world is too competitive, to make it if you don't have this fire and commitment. More?here .
• Slow down if you don’t have the right co-founders.?Many folks settle for the best co-founder they can find. At some level, that’s always true. But don’t settle, anyways. Make sure, if nothing else, that your co-founder is better than you.?More?here . Thinking on it, this might be almost the most important point of all. Great ideas are not enough if you can't execute them.?
• Do more market research and especially customer interviews in the early days.?Market research can only take you so far with a live product to share, but it still?helps. Talk to at least 20 prospective customers, ideally more. Try to learn what their top pain point really is. And?listen. What you think potential customers want and what they really want is usually not the same. Even if you’d worked in that market.?More?here .

This edition of the SaaStr Insider is sponsored by?Secureframe .

• Really?understand how you are / will be better than the competition.?Customers only care about?some?things being better — not everything. What is your 10x feature? And is it the right feature? Is it really something customers are willing to take new vendor risk on. Are you?sure??More?here .
• Think about if your team is truly agile enough.?There are so, so many vendors today. That means the world moves faster. The startups that can build more great software, faster, often win. How will you build an agile team? Are you sure you really have one?
• Carefully listen to, but don’t heed the advice, of most smart people.?It is so easy to be a critic. Learn from those who have walked a mile in your shoes. But don’t be discouraged if they don’t 100% get it.
• Get all the great help you can find. You will need it.?Apply to the top accelerators. Get the best mentors. Read everything. Notwithstanding the prior point, you’re not the first to have done 98%+ of what you plan to do in your startup. We all need one great mentor, a boost, some help. Seek her out and do whatever it takes to get her on the team.?A bit more?here .

Hey everyone,

With less than < 60 days to go to SaaStr Europa, we’re on track for 3,500 SaaS Professionals to join us on 6-7 June at in London.

And with that, it’s the very last call for Sponsorships. A few turnkey sponsorships remain if you want to reach 3,500 of the best SaaS community members across two days. Get in touch HERE .