Ep 109: How to identify the right SaaS opportunity
Description
Getting traction with any new business is a challenge. That is why selecting the right problem to solve for the right market is so important.
Join co-hosts Matt Stubbs and Meryl Johnston for this ‘working in public’ series focused around building a SaaS.
“Software that isn’t shipped isn’t useful to anyone’
Matt Stubbs
In our first episode of the Crossbeam Podcast Series, we discuss:
[02:25 ] Why we are recording a ‘working in public’ podcast series about building an app.
[04:36 ] Introducing Crossbeam – a SaaS app to sync payments from an eCommerce platform called Neto to Xero.
[07:26 ] How to decide the minimum core functionality to build before sharing the app with beta testers.
[11:03 ] Looking for the right problem to solve. Xero and Shopify are ecosystems filled with people in business who are prepared to pay for software.
[14.09] How discovering a blog post led to Crossbeam.
[15.00] Calculating the size of the addressable market.
[19.19] Platform risk when building in ecosystems like Shopify or Xero.
[23.50] Matt on what he would do differently with his next SaaS – hire earlier and spend more time focusing on marketing!
[25.15] Matt’s insights around his exit with Back in Stock. Chatting with a broker early on and the feedback was ‘we couldn’t sell this as you are working too much in the business’.
References and Links Mentioned:
- Crossbeam
- EP35. How to build a business that can run without you
- Tracey’s blog post that inspired Matt to reach out
- Matt Stubbs
- TBMA: The Knowledge Gap or the Efficiency Gap
The post Ep 109: How to identify the right SaaS opportunity appeared first on Bean Ninjas.
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