The top 5 traits for potential hyper growth SaaS companies

Based upon years of work with SaaS companies there is a few traits that shines through when it comes to success.

Among our daily work with SaaS companies we see, learn and hear a lot of challenges, successes and failures at Skylaunchers. But if we take the most successful teams and companies among them, the following traits stands out.

Be niche

Since the SaaS business has been going through a transformation from horizontal product and market focus to vertical. Niche products with a team that has huge knowledge of this niche stands out as most likely to have success. They will probably not become almighty unicorns, but they have the possibility to take over a global niche market within a very short time.

Keep your product clean and lean

While niche focus is a key element, it is still of outmost importance to stay as lean on your product as possible. Very strict product owner focus on the most valuable features in the product and build a learning product is yet another way to create success and to get the users attention and loyalty. Too many overthought features and focus on new "on-the edge" possibilities that your customers are not ready for, and too many choices for putting your product together in a subscription plan, will slow you down and create unnecessary work that do not lead to value for your business.

Be humble and learn

Even through you have a lot of knowledge in your market, don't underestimate the learning you get from monitoring your product and meeting real customers. Take off your tinfoil hat and wander down your tech-babel tower and get out and meet your customers and find those small things that help them make their daily work easier and combine it with over-the-top monitoring and learn from the data.

Take roles and responsibilities serious

While being niche, learning from your customers and being humble is very important there is a huge troll lurking in the closed who any given day can stall and threat your SaaS company. Its the daily juggle working with the product development, sales, software development and adapting processes to be as smooth as possible. Being able to handle change requests from inside and outside your organization, doing kick-ass on-boarding mixed with having clear roles that create less discussion and lead to a quality product, is a very big advantage in going into hyper growth.

Keep going

In one word the most clear way to success is persistence. When you say no to customers because you are holding on to your product vision, when your co-founder leave, when key team members quit and leave a huge knowledge gap, when you have worked way too many hours for way too long, when you are in the most challenging time of your life, keep going. Persistence is what separate, the mediocre from the one that keeps on going towards success.