Rogue Startups RS314: The 8 Attributes Of A Perfect SaaS Business
May 29, 2024
Explore the eight essential attributes for building a successful SaaS business! Learn how optimal pricing can drive growth and why embedding payment solutions enhances user experience. Discover the importance of making your product indispensable for clients, while also creating high switching costs to minimize churn. Keep delivering value even when customers aren't actively using your service. Finally, differentiate your offering in a crowded market by highlighting unique features and focus on entering established demand niches.
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Raise Your Price Significantly
- Charge more for your SaaS product to accelerate growth and profitability.
- Start around $50–$100/month (Craig suggests $100) rather than very low price points.
Make The Product Business-Critical
- Your SaaS should be core to a customer's operations so removing it would cripple their business.
- Deep operational dependency makes products extremely sticky and reduces churn.
Embed Payments To Become An Asset
- Route payments or transactions through your platform to become an asset for customers.
- Take a small cut or handle payments so your revenue grows as customers transact more.