Startups For the Rest of Us

Episode 620 | Finding SaaS Ideas, Customer Pain, SaaS Metrics, and More Listener Questions

11 snips
Sep 6, 2022
Dive into the essentials of SaaS business metrics, where the focus on churn and MRR reveals key growth strategies. Discover how to spot lucrative SaaS ideas by prioritizing market demand and genuine customer pain. Explore techniques for guiding employees from task-level thinking to a more robust project-oriented approach. Engage with actionable insights for bootstrapped founders, plus tips for appealing to non-technical customers through better support and onboarding. It's an enlightening journey into the world of software startups!
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ADVICE

Key SaaS Metrics

  • Prioritize MRR and month-over-month growth rate as your North Star metrics in SaaS.
  • Track both percentage and absolute dollar growth for a comprehensive view.
INSIGHT

The Three Highs and Lows of SaaS

  • Churn, cost to acquire a customer (CAC), and sales effort should be kept low in a SaaS business.
  • Conversely, aim for high annual contract value (ACV), expansion revenue, and referrals.
ADVICE

Serving Non-Technical Customers

  • When serving non-technical customers, price your product accordingly to cover support costs.
  • Offer concierge onboarding and consider weekly office hours for scalable support.
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