Building and growing a SaaS product could be extremely frustrating and difficult. Here are the 3 key moments that could lead to success in my opinion.
Small Action > Perfect Macro Planning
Many founders or aspiring entrepreneurs get their dopamine fix through extensive macro planning of their business. Reflecting on my own experiences, I've fallen into this trap a few times. It's clear to see the detrimental effects this can have: wasting significant amounts of time, energy, and cognitive resources to perfect a plan that aims to grow Monthly Recurring Revenue (MRR) from $1K to $10K or $100K to $1M.
This means nothing for your business right now.A crucial motto to remember when launching your business is to prioritize small actions and build your reward cycle around these manageable, achievable goals. You might set daily objectives, such as drafting your value proposition, creating a one-page landing site, or reaching out to 50 potential customers on Discord. The perceived downside of these small actions is that people feel these efforts won't yield a sufficient return during the planning phase. However, it's essential to remember the principle of exponential growth: the cumulative returns can be unimaginable. Even a solid month of work can yield significant returns.
Learn all relevant skills
As an indie hacker, it's crucial to have at least a basic understanding of all areas related to your business, including software development, accounting, and marketing. If your background is in marketing, leverage no-code and low-code tools, design templates, etc., to launch your project. If you're a developer, start familiarizing yourself with marketing by reaching out to potential users early on. The key is to comprehend all the logic driving your business, even if you're not writing all the code or designing every marketing piece. Do not shy away from uncertainty or unfamiliarity; there are ample tools at your disposal to realize your vision.
Find you first 2 Partners
I firmly believe the initial trio formed in a startup is pivotal to its culture and efficiency. While every team member is vital, the first three partners signify the transition from a solo or duo venture to a collaborative team. The decision to bring on the first two partners can either skyrocket your startup from a modest beginning to significant success or lead to dramatic failure. My advice for founders is to be active on platforms frequented by other entrepreneurs, sharing your insights and connecting with potential, complementary partners. Aim to converse with at least 10-15 prospective partners within the first six months of your startup's life. This allows you to either persuade your top choices to join you or build meaningful connections with individuals in related fields, potentially leading to future opportunities. Aim for a potential win-win scenario.