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E90: B2B SaaS Missing Critical Success Factor

Most B2B SaaS companies I consult with are missing a critical success factor that I call a problem worth solving.

Let’s discuss what it is so you can determine whether or not it’s missing for your B2B SaaS.

Episode Transcript

Hey folks, Sean here, and today what I wanna talk to you about is the missing critical success factor that most unsuccessful B2B SaaS companies have yet to figure out. Now, when I consult to various B2B SaaS companies that need my help because they’re stuck somewhere, most of the time, the biggest missing factor is what I refer to is a problem worth solving.

These companies have not figured out essentially what that. That’s terminology that I use rather frequently to mean a couple of key components that are really critical for your B2B SaaS company in order to be successful. So I want to talk about first, ultimately, what it looks like if you’ve found one.

So, if you’re in a position where you have identified a problem we’re solving for your B2B SaaS, to me what that means is, number one, you know exactly who has the. A very specific persona. You can identify, set individual at a target market, customer, you know the title, you know what they do, and more importantly, you know, the problems and challenges they have trying to accomplish what it is they’re trying to do.

So that’s number one. Number two, you know the impact that this problem causes, this specific person. And when I say that, what I mean is, you know, how expensive it. And expensive can be in the terms of lost time and lost money, and lost time is lost money. So you know those details as well too. You can measure them, you can quantify them.

They’re pretty impactful to your target market. Customers operation is a big problem that they need solved. So that’s number two. The third one, this is a critical factor as well, is you know, how ineffective the existing solution that they’re trying to leverage to solve this problem is, You know what they’re trying to do to try to solve that big problem, and you know how well it isn’t working, meaning there is opportunity for you to solve that problem in a better way.

If you have achieved these things, I would say you have found a, what I prefer to as a problem, or solving, but not before that. So if you haven’t uncovered that for your B2B SaaS and you’re stuck or you’re unhappy with where you’re at or you’re trying to scale, and it isn’t. I would evaluate this criteria first because this is a really critical, important factor to achieve first before you’re able to get to where you ultimately want to go.

And whatever your B2B SaaS product can do or can’t do at the moment is really irrelevant. Any success that you’re gonna have before you’ve identified what I’ve just referred to as a problem we’re solving is simply gonna be cause of dumb luck.