E152: Why Solving Your Own Problem Is An Advantage In B2B SaaS

There’s a HUGE difference between solving your own problem and solving someone else’s when you are trying to succeed in building a B2B SaaS.  Let’s talk about the pros and cons of each approach.

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Episode Transcript
 Hey folks, Sean here, and in this episode what I want to talk about is why I’m such an advocate for solving your own problem with your B2B SaaS, especially if you’re doing this for the first time. Now, if I’m gonna start by describing what happens if you don’t solve your own problem. There’s a huge challenge that a lot of people that want to build a B2B SaaS to bring a potential solution to market.

If they’re building for a target market that they’re not intimately familiar with, I’ve done this too, so I can explain what some of the limitations will be if you attempt that strategy. Now, what you’re probably not realizing when you begin this kind of venture of this journey is all the things you don’t know about that target market.

Like whatever it is problem wise, you want to try to solve. If you’re not in it all day every day, or you haven’t been in it four years, there’s so much nuance you’re going to miss and not understanding all of that detail is going to cause problems for you. The product, everything along the way is just gonna take longer and be harder.

So, Number one, whatever you’re building for in terms of a target market, if it isn’t one that you live in on a daily basis, you’re gonna need to be really passionate about it because there’s a lot you need to learn. You almost need to become whoever it is you’re building for. And I’ll give you an example.

So I’ve built products and human resources. I built products in marketing. We, I talked about my podcasting tool. Now evaluating, bringing a tool to market for the legal industry. One for the accounting industry, right? I like exploring different target markets, but I haven’t professionally worked full-time in most of these industries.

And the big difference is for the ones in which I have, especially the ones I’ve built businesses in, the amount of understanding that I have. Of all the level of detail that I need to know in order to build products for that industry is significantly higher than it is in some of these other industries, and that makes all the difference when it comes to figuring out the problems that I wanna solve, how I wanna solve them, how my tools expected to provide that level of value for that target market.

Because it helps you move significantly faster. So if you’re trying to achieve greater success and less time, a better place to start would be your business, as in what’s the biggest problem or challenge you need to solve as opposed to someone else’s business or an industry that you haven’t spent as much time in yourself.

So, If you’re considering where to start and you have the opportunity to choose between solving a problem for your own business or the industry in which you work versus something that you don’t have an intimate level of understanding in, I’m always gonna recommend you choose the former because that’s gonna enable you to move significantly faster and achieve greater success and less time than if you need to go learn everything about a relatively new industry to you.