The vast majority of SaaS companies fail. I believe the biggest reason for the majority of those failures is a flawed product strategy from the start.
Every time I consult with a B2B SaaS company that needs help they are missing the most important and critical factor to their success.
They are all missing what I call a problem worth solving.
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Here’s what the situation looks like if you’ve found one:
- You know exactly who has the problem
- You know the impact it causes (amount of lost time/money)
- You can prove the ineffectiveness of the current solution
Until you’ve achieved this, it doesn’t matter what your SaaS product can or can’t do, you won’t have what you need to be successful outside of dumb luck.