Sep 26, 2019
Have you asked anyone working a normal job about their
workflow?
If you get in the details of their processes, you’ll immediately
see the optimization opportunities. Just think of all the excel
sheet management that goes on in the professional world…
This is one of the main reasons why there can never be enough SaaS
businesses.
There are just countless niches that can deliver great
profits.
Seriously, the amount of opportunities
is crazy. I have been in the industry for a very long time, and
still continue to be amazed…for example today.
Listen to this…
I heard it from today’s Escape Velocity guest – the SaaS OG Einar
Vollset.
He is a YC-alum, former Cornell CS Professor, founder of Discretion
Capital and most recently of TinySeed – an exciting new startup
accelerator designed for bootstrappers.
So when he told me about this business, I didn’t quite get it at
first…
He was flippant as well when he heard about it from a friend, but
eventually found out he was wrong. And you know what the business
was…
A kitchen countertop installer software.
Amazing how niche, how specific, and yet successful SaaS companies
can be. This is a very good example of the ENDLESS SaaS
POTENTIAL.
Seriously, watch the full
video below and see for yourself.
Here are some key takeaways from our conversations:
- The number of SaaS businesses and why it should be 100 times
more
- Why institutional money is starting to move downmarket
- The investment thesis behind TinySeed.com
- Innovative models for financing and investing
- How a founder should chooses to exit a business
- Why M&A brokers are moving into the SaaS space
- And much much more…
This was a fun interview from start to finish, but I want you to
focus on an insight Einar gave around 22 minutes in when I asked
him what successful SaaS founders “do right” to achieve high growth.
His response was “I have no idea”… and he gave it straight away
with zero hesitation.
Quite the opposite in fact, he was extremely confident, as a man
with his diverse background and experience would be… as if telling
me “This is the right answer!”.
What does that mean?
There you have someone who has spent many years in the SaaS space,
has plans to invest in growing multiple businesses and he tells you
that he has “no idea” about what is the right thing to do?! What
kind of valuable advice is this?
It is way more than advice… it is WISDOM!
Einar can sit there and pretend to know what are the best things to
do in order to make your SaaS company grow and be successful… but
instead he is taking a page from Socrates’ book by telling you that
real knowledge begins by admitting your ignorance!
NOBODY can know what will work, until you try everything and find
out for yourself…
It is through the painful process of trial and error that you will
find what you need to invest your time and effort in.
Watch the full video to hear all the
examples and SaaS success stories,
and drop me a comment letting me know what you think about the key
to SaaS success.
And be sure that there is always someone who can help you cut short
the trial and error period.
--
Dan Martell has advised more startups
than his hometown has people and teaches startup founders like you
how to scale. He previously created, raised venture
funding for and successfully exited two tech startups: Flowtown and
Clarity.fm. You should follow him on twitter @danmartell for tweets
that are actually awesome.
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