To be successful building a SaaS product, you need a path to profitability ASAP.
Profitability means:
- You can fund your own growth
- You maintain maximum control
- You retain most of the rewards
OK, so how do you get there ASAP?
Something you can do right out of the gate which speeds this process up considerably is something I call…
The 10X effect
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What does it mean?
You need to figure out a way to beat the competition at solving your customer’s top problem by 10X. Here’s a few examples:
Your product could be…
- 10X faster
- 10X cheaper
- 10X better
Whatever problem your customer needs to solve, if you can achieve the 10X effect for them then there is a VERY high probability that you have a straightforward path to profitability.