158: Lessons On How To Stay Focused While Building Your SaaS Business - With Janna Bastow
Dec 12, 2017
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The podcast discusses building a SaaS product, overcoming growth plateaus, and strategies for improving free trial to paid conversion. The speaker shares advice on team happiness, personal passions, and explores optimized hosting solutions for SaaS startups.
Focusing on one key metric can drive significant business improvements.
Addressing problems promptly is crucial in business.
Utilizing dedicated time for emails can enhance productivity.
Engaging in creative activities can foster personal growth.
Deep dives
Two product managers build their own tool and launch a SaaS business
Two product managers who couldn't find software to help them do their jobs decided to build their own tool. They continuously improved it and eventually realized that other product managers would pay for it. They quit their jobs, bootstrapped the business, and started getting more customers. After facing a plateau of growth, they focused on improving the free trial to paid conversion rate. They shortened the trial time, gamified the onboarding process, and personalized the onboarding emails. Their conversion rate increased, although they didn't reach their goal of 15%. They also learned the importance of perseverance and a clear head in entrepreneurship.
Books on product leadership and roadmaps
The host recommends 'Product Leadership' by Martin Eriksson, Richard Banfield, Nate Walkingsha, and 'Product Roadmaps Relaunched' by C. Todd Lombardo, Bruce McCarthy, Evan Ryan, and Michael Connors.
Valuable advice for entrepreneurs
Call out and address problems when you see them.
The power of focusing and iterating
Focusing on improving one key metric and iterating on strategies can result in significant improvements in business performance.
Personal productivity tool
Tackling emails offline during flights and using that dedicated time to clear the inbox.
Interest in pursuing B2C ventures in the sciences or health
The desire to work in areas like robotics, health, or other fields that have a direct impact on the world.
Personal passion outside of work
Engaging in creative activities like painting, photography, and playing the guitar, along with enjoying sci-fi books.
Janna Bastow is the co-founder and CEO of ProdPad, a product management tool for product managers. ProdPad helps you to build product roadmaps, uncover the best product ideas to work on next and build what matters most to your customers.