How To Start A SaaS Business
Why would you ever want to start a SaaS business?
Because you are passionate about it? - Nope
Because you think it will be easy? - Nope
Because you believe software is cool? - Nope
Because you don’t know what else to do? - Nope
Because everyone else is doing it? - Not a chance.
Because you want to leverage technology to create freedom? - Yes
Because it’s the best way to build passive residual income with low management? Yes
Because the evolution of business is actually creating the greatest opportunities ever and it’s due to software? - Yes
Building a software business isn’t easy. But you don’t actually need to know anything about software, business, or sales in order to make a living from it. In fact, at times this knowledge can do more harm than good.
What you do need is commitment, dedication, and a big enough reason why.
When roadblocks come along and knock you silly… your reason why will always carry you through - if it’s strong enough. It’s also the story line that many of your future customers will connect with.
Beyond that… There’s a special method we’ve discovered that makes this process seamless. A unique process to cut out all the gaps. A model to make it simple and extremely profitable. This process is unlike anything ever seen before. It’s mixing psychology and software in a colorful rainbow cocktail. At the end of this rainbow is a huge pot of gold.
The beautiful part of this pot is that the gold flows into your bank account month after month. We call this passive residual income and it’s the ‘holy grail’ of income streams. This is the income everyone truly wants. Build something now, get paid for it forever.
So here’s how the unique process is laid out.
- Find a painful problem in an industry.
- Talk with the people who suffer from this problem.
- Ask them how much the problem costs them (Time, Money, Opportunity Cost, Energy).
- Have them wave a magic wand and say, “In a perfect world this problem would be solved by...”
- Ask them if they are willing to pay for that solution, and if so, how much?
By the end of this process, you will have built rapport with people in an industry and found a profitable problem to solve.
Next, get back on your computer and start melting together all the information you gathered into a document. This document doesn’t have to look nice yet… just get it all down.
Take a look at the magic wand stories. This is where the gold is hidden, the most painful problem that costs the most money. What do they have in common? Find a way to tie them together into a solution that will solve the most expensive problem.
From here, clearly explain the solution in the document. Use flowcharts and a diagram, like gliffy.com, to clearly explain the issue. It has to be clear enough that a 5 year old will understand it. Clarity is key.
At the end of the document, provide examples or hypothetical case studies using the stories from the industry experts you’ve talked with. Their stories are your sales copy which will resonate perfectly with the audience you will be selling to. Use this model:
John was experiencing [the problem]. It was costing him [X] amount of time, [X] amount of money, happiness, opportunity costs and energy. His customers felt the pain, his employees felt it, everyone was feeling the costs from [the painful problem]. When asked about it, John identified a solution that would fix his problem. It was utilizing technology and software to manage the workflow and bypass all the problems that using paper and human power were causing him.
[Insert Gliffy.com Wire Diagram of The Software]
PLUS, this software always works, never argues with John, never calls in sick, and functions around the clock for him and his company. After the problem was solved, John was happy again and worked on what was most important to him: building his business and helping people.
Now go back to the industry experts you talked with and have them proof your identification of the problem and solution. Ask them if there was anything you missed, or anything else they suggest to improve the idea.
Once they say it’s golden, it’s time to pop the question.
“Through this process, I’ve discovered that this problem is costing you thousands of dollars a month. This software would alleviate that loss in capital and save you time and frustration. If the problem costs you $12,000/year and I offered you a lifetime solution for only $6,000 one time, would you take me up on this opportunity?
If they answer yes, get the payment immediately, whether it’s a credit card or a checking account number. Then process it through an online payment system, which you will set up after you get your first pre-sale. If they say “no,” ask them why and write down every reason why they wouldn’t buy in. This will teach you the objections, which you will figure out how to overcome.
Do NOT get off the phone unless you get a yes or a no. A maybe isn’t good for anyone. You want to do business with people who are certain. Yes or No. It’s okay to put pressure on them. They actually prefer it.
After you get your first sale, post a job on guru.com / freelancer.com / upwork.com. You can also find a development community to contact and ask developers to build the product for you. Ask them how much they charge for the minimal viable product and 5 hours of technical service a week. This is key: get the developer to commit to updates, fixes, and repairs, along with customer service. Keep yourself out of the middle as much as humanly possible.
Once you have a cost nailed down, go pre-sell like crazy. You can actually make a ton of money during presales. Once you get enough to fund the costs of the development, change your pricing structure to a one-time setup fee, plus monthly payments after delivery of the product. Let them know they are getting special pricing because it’s pre-beta release. After beta, the price jumps up to your regular monthly costs, which are still less expensive than the problem itself.
So, we’ve found a problem. Created a solution. Pre-sold the software. Gotten it developed. Now it’s time to start scaling your business using marketing.
And that’s for another time.
If you want support and guidance through every single step of the process, we have created a program just for you. Our program will guide you through each step. We provide already crafted emails, templates, and processes to make this super streamlined and easy. Over 1,500 entrepreneurs have gone through this process and our students results speak for themselves.
We are selective about who we work with, so we require you to fill out an application to see if you are a good fit.
After your application is accepted, you will get a chance to talk with a past student and see how building a SaaS business has changed their life.
There is a fee for our program, and it’s minimal in comparison to the results and income you will get. We are an ROI machine and teach people how to build as many ROI machines for themselves as they desire.
If you want passive residual income in your life, build a SaaS business. If you want to get there faster than you would by doing it all alone, work with us. We’ll save you time, money, and lots of frustration because we’ve pioneered and perfected this model through years of experience.
As another benefit to our program, we’ve built a huge community of entrepreneurs who are using this system to build businesses. They’ve come from all walks of life - employees, business owners, freelancers, students, and the unemployed. And now, we are here to help you when you are stuck. We’ll hold you accountable to your why. We’ll celebrate your successes. And we’ll even get to party together. We’re just like you. We seek more freedom and believe you deserve everything your heart and mind desires. Everything.
That’s what The Foundation represents. #Freedom
If you want to join us, click here to get started.