saas company reddit

Software-as-a-Service (SaaS) sales compensation plans, in particular, require strategic planning and analysis to ensure all the working parts function like a well-oiled machine. [–]GFandango 0 points1 point2 points 4 years ago (0 children), [–]nevesis 36 points37 points38 points 4 years ago (11 children). Perhaps a bar. I was responding to you because you said you're afraid of it. This infers that the software sits on a SaaS company’s server while the user accesses it remotely. Remember: we'll need a bit more info then "I have a concept that will change my industry, I cant tell you anything about it but HELP!" I get that VCs consider a few million a small deal but at least angel investor should be more careful. Not unless you’re running out of mattresses to keep your money under. I walked the walk and become depressed when I see another article that advises you to “Do what you love” and the gates of heaven will open up and money will grow on trees. Most business create "boring" products, including mine. I know what good food tastes like, but I would fail miserably running a restaurant. I wouldn't recommend the 'do what you love and the money will come' approach for anyone. Some traction will help you land VCs if you still need that. Azure? Just started at a new SaaS company and I’m currently training. People may have never heard of it! You charge $30-40/mo per user and get 100 users. I just know what 30% off comes to. They say no? Anything relevant to Entrepreneurship is welcome, Ask questions, share thoughts and gain insight from the community, If you need help in validating a concept, Don't be afraid to share your idea, there are some very knowledgeable people on this sub who can help. Let’s say we were wrong by 50%. What would it take you to just launch it tomorrow? Excellent advice and in line with my experience running a SaaS and other businesses. First of all it is too long. SoftwareSuggest is excited to present the list of top 100 SaaS startups to look up to in 2019. Creating and selling. Step 1: see if they will give you their email address for it. My observation has been that it totally depends on the industry that the company sells to, but there are ABSOLUTELY still SaaS companies that are out there crushing it right now. I'd never know. Correct. As an example, a $10 million revenue run-rate SaaS company right at the Rule of 40 would be valued $128 million, less some discount for lack of liquidity being a private company. It sounds like they know their shit, but it doesn't negate the fact that it's a troll account, [–]tuffbot324 -1 points0 points1 point 4 years ago (1 child). Honestly, with all the talk about big data and machine learning, I wonder how no one figured out this is one of the best predictors if a company will be hugely successful. [–]MuseofRose -1 points0 points1 point 4 years ago (1 child), no no. These are the lessons I’ve learned starting three SaaS companies. Revenue is a distraction Pay your bills and spend the rest of the time building a kick ass product. Without an actual story (like the one about advise) there is not much to learn. No one knows anything The irony of this statement isn't lost on me, but stay with me. If you can do that, do it tomorrow. So i built that marketed it and here we are now $$$.. [–]-developer-[S] 0 points1 point2 points 4 years ago (0 children). I'm a decent developer, not insanely great, but capable enough to execute. For this version, I have co-opted two real experts in the field: Ron Gill, (CFO, NetSuite), and Brad Coffey (VP of Strategy, HubSpot), to add expertise, … Self-promotion of your business/idea is encouraged but should be done while sharing in an IAmA/Q&A, question, or case study. I'm 28. Are you doing any marketing? IOT? Trust your gut instinct and some minimal research, then pull the trigger and learn from the mistakes if it blows up.". I believe there is a ton of potential in the market and I don't care about making money (I already have enough and more money does not take away the confusing feelings around my gender) I just want to make a positive change in this world. [–]tekgnosis 0 points1 point2 points 4 years ago (0 children). But take my advice and insight as you wish. This subreddit is directed at anyone involved in a B2B SaaS business. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 16585 on r2-app-0680ee50d9cf24828 at 2020-12-12 16:48:57.069480+00:00 running 85e58d4 country code: US. I definitely think that there are things that are not for everyone. plus it's just odd about the facial hair thing. Also that intro video isn't very professional. Not necessarily invalidates, just asks you to question me (and everyone else). [–]tuffbot324 1 point2 points3 points 4 years ago (0 children). 7) Follow the Rules of Reddit - They apply everywhere on Reddit. I have like 50 right now that I wish I could do. I'm really passionate about the product as it can be very hard dating when you have facial hair as a M2F. AMA with the Co-Founder and CEO at Neuro functional gum and mint company. Get an ad-free experience with special benefits, and directly support Reddit. Pay them a commission. [–]super__nova 2 points3 points4 points 4 years ago (0 children). This is the best thing I've ever read on this sub. If approved we will schedule you on the sidebar, so please also provide a Title and 140 character teaser. Ahh! So here is a list of 50 SaaS companies of note with a little bit … Lastly, this is a relevant video about focus from an interview with Jony Ivy: https://www.youtube.com/watch?v=2oksetv3i90, [–]binxcat1 0 points1 point2 points 4 years ago (0 children). you get more people in, especially small business owners which are not sure if your service pays off and therefore are too scared. Your dad may be way more intelligent than I am. What you're missing is that no matter how good your product is, it won't sell itself. With this vision he created SaaS, revolutionized business technology, and likely cleared the … Not a lot but it certainly paid my rent. I'm thinking about getting a job now. Valuation of SaaS business model – overview. Get him. I've been on calls where the person would do anything and everything to get few dollars off. Wantrepreneur Wednesday - Looking to ask a question a bit beyond the super basic but don't need a whole thread? Focusing on development isn't easy especially when there is a lot of other stuff to do, like you're saying. you often here oh I used to work in industry x, thought that this app or website might help people get to sales faster or whatever. NooB Monday - For the most basic of questions, Marketplace Tuesday - Post jobs or internships you're looking to fill or about services you can offer. How do you cope with learning curve in a new field or project, if any. Reading is hard. When I've logged 45 hours of productive work (not counting coffee breaks, bathroom breaks, etc) in a week vs. 35 hours). This is hard one - focus. That's just me. In my opinion, its insane. If you can pinpoint what they truly want (they won't always tell you), you can use that to make a deal that you both like better. I have to second this. [–]-developer-[S] 0 points1 point2 points 4 years ago (2 children). There is no better time than now to be in SaaS. I've definitely had that feeling myself. The Size Of The Global SaaS Market. However, similar target market. Now we have an office in the Times Square (NYC) area with a team of full-time employees. You sound like you know what you're talking about. Maybe you need to partner with a marketing/sales guru. Spinify Whatever price they say it costs, you can get it for less I am not talking about the $5/month Google Apps. It is really easy for someone to claim that they're right about something when the future is impossible to predict. Some say that growing a business is more difficult than creating a service when it comes to SaaS. /u/SkaPlunk AMA from Kent Yoshimura . When you find something that you don't like doing or something not worthwhile doing or something that you could be doing better, offload that to someone else. Don't get me wrong, when numbers are down, I am all about it. Thnx for sharing this valuable advices. Facebook Twitter LinkedIn Tumblr Pinterest Reddit Pocket Share via Email Print. A company that “raises” money and uses said money to “raise” even more, without a sustainable business model is not a company. The structure of a strong SaaS financial model should be wholly modular. How'd you come up with the idea for the first app. O365? Dude, your product is great. I hope this post inspires you to build and launch a SaaS company that people love. When you're done learning that thing, learn it again. 1. The Excel model calculates important key metrics for SaaS Startups such as funding required, IRR, NPV, time to break-even, MRR, ARPU, Customer Lifetime Value and … cant get that one back, but time spent on projects or development is important because time = "paid". a niche kinda thing from a hobby.. thats what i'm asking. Before we explore our essential software as a service trends for 2020, it’s important to consider what defines SaaS as not only a technological development, but as a working business model. Do it for me. You are definitely a beast in terms of building stuff. About the Author: Ryan Shank is the founder of PhoneWagon, beautiful call tracking software that helps businesses improve their marketing spend by using unique local phone numbers on each of their campaigns. [–][deleted] 5 points6 points7 points 4 years ago (3 children). Also spot on about VC money. For me, time doesn't matter at all. Not a complete list by any means, but these are the things that come to my mind often. There is no need to say that you are a black female transgender person in 80% of your posts. Four, you can make good money even if the startup “fails.”. Valuation in the private markets is certainly much more of an art than a science, and particularly for companies that are growing extremely fast. But definitely keep following your dream I bet that would have tons of applications in the beauty industry as a whole. Also, looking at numbers all the time will make you crazy. [–]sasha_fishter 1 point2 points3 points 4 years ago (0 children). Hell yeah. Let us know, Experience in raising funds? [–]SpadoCochi 2 points3 points4 points 4 years ago (7 children). and join one of thousands of communities. It is true that lack of VC money probably limits the size of your company and in any case you can build a smaller company that is super profitable and great fun to work with. It would be great to see these "lessons learned" posts with examples and reasoning how you got there. Is it a development house? I would also replace that video for a more professional one. Different thing, often the same buyers. thats an interesting way to put it. I'm about $100k in and am starting to get to the point where it is ready for launch. If you're stuck on this "million dollar idea", you'll be waiting a while. Well, I'm a freelancer, so the rules are different for me. [–]JacobAldridge 1 point2 points3 points 4 years ago (0 children). Feel like I'm missing something -- https://medium.com/@richardgong/looking-for-startup-vision-while-traveling-cd9cb8c6592d. Do not waste years becoming an expert on every potential product/idea. I built a profitable SaaS company alone and here's what I've learned (self.Entrepreneur). You’ll still break even in about 6 months. Excellent advice and in line with my experience running a SaaS and other businesses. OP said track your time obsessively, key word there. So from what i gather its a spin off of another app you had. Second, don’t hire anyone. Start with what you are looking to accomplish. Other projects listed on www.baylaunch.com, Nothing has gotten traction. Can you go to stores and see if they would put a couple of bottles on their shelves? [–]tuffbot324 0 points1 point2 points 4 years ago (1 child). So let’s do some math. Half my challenge everyday is just staying sane. Some background: Seriously, just don’t do it. I can't believe how many business owners waste their time doing this. I hope I didn't miscommunicate to say that I don't care about it - I definitely do and I know the numbers. Also consider Reddiquette The latter isn't mandatory but might be used in considering the intent of your post. Concentrate on that. It’s useless. Like sure someone can bring an amazing idea to you but you might simply not be the person to bring that idea to fruition. It is true that lack of VC money probably limits the size of your company and in any case you can build a smaller company that is super profitable and great fun to … Nothing. Anyway, if you’re serious about SaaS, or starting any company for that matter, keep reading, it’s worth it. Accomplishments and Lessons Learned Friday - Tell us what you have accomplished or alternatively what you will hope to never do again, Become a community resource & share your successes, failures and insights. The more information you provide, the better the feedback you'll get and the more focused the conversation will be. What you need is cashflow. Feedback is really important, so here are my thoughts on your site: Maybe you would like to offer a small price like $10 the first three months. You get the picture. SaaS is a billion-dollar industry. use the following search parameters to narrow your results: Body: Date(M-F only), your background/experience, some form of validation (LinkedIn, Website, IG, etc). Facebook started in a college dorm room. And yes, you can fire a customer. In fact it may be just a coincidence that it didn't matter for you. The best salespeople do this. The smallest company on the list is PagerDuty, with a market value of $1.9 billion. Our SaaS business is Convas.io. Having a SaaS company is great, and everyone and their dog knows it. Build your product or raise money: choose one If you're trying to compete with Tesla or AT&T, you'll probably need lots of cash to start. The relationship between company and customer has gone tremendous change with the advent of SaaS companies. Outsourcing boring/time consuming stuff is the key. I'd encourage you to mandate that your employees track their time also - not down to the minute or anything, but how much time is your sr. programmer spending coaching jr. programmers or how much time is spent across the corp. in internal meetings? I'm assuming you started the development of the app? I would venture to say that the above items are very true for a bootstrapped SaaS company. But I know entrepreneurship is what I want to do, I just haven't found a way to make it work yet. [–]-developer-[S] 1 point2 points3 points 4 years ago (0 children). Totally different use case for both apps. Go figure. [–]sixkorn 1 point2 points3 points 4 years ago (0 children). We have one person who acts like a VA. Step 2 (more important): see if they will give you their credit card number for it. Period. That line kinda is an obvious bait line lol. Ideas are all over the place. Likewise, I was interested in contacting companies directly to sell it to … End of story. I noticed that a lot of them were asking for the same thing, but describing it differently. Sorry, I thought you were asking an honest question, take your trolling elsewhere. [–]nevesis 0 points1 point2 points 4 years ago (4 children). Also spot on about VC money. I am sharing it simply to be part of the community. Based on your experiences, it seems like there would be a huge need for it. But yes, there's a fine line between measurement and obsession. So once again, take my advice at your own risk. It's not a spin off. Or are you building something and hoping people will want it? Just hit milestone in eCommerce space! Team-wide. Anything after that is pure profit. New ad-exchange that pays in ETH (cryptocurrency) offers opportunity for advertisers. :-). CRM? The SaaS Business Model: How a SaaS Company Works So I hired a customer service person. This exposes you to issues if you can't ship on time, however. For me, when i'm feeling less than motivated, a small revenue boost can reinvigorate me to keep pushing a bit harder than I would have. do you ever feel torn in different directions ?! 3. But if you're building an app like everyone else, your costs probably won't be as high as you think. Say, your customer acquisition efforts are starting to pay off, and you need to keep an eye on your Cust… But these metrics are useless for a new startup. A SaaS company is a company that hosts an application and makes it available to customers over the internet. Time to turn that into revenue. Rendered by PID 16585 on r2-app-0680ee50d9cf24828 at 2020-12-12 16:48:57.069480+00:00 running 85e58d4 country code: US. But what would a SaaS company be worth based on the… I can agree to that - it is a bold statement. 1) Choose your SaaS purchase model: self service or sales based. Building projects that no one wants fast is not a clear path to success. I’m also surprised by the gulability of the VCs and angel investors. We're 7 people. 6) No free offerings threads - The Thursday sticky is specifically for free offerings. In my case I just asked people what they wanted and then tested to see if they REALLY did want it. But more opportunities means more competition. What's the worst case? Typically, a good SaaS business … [–]MuseofRose 0 points1 point2 points 4 years ago (3 children). [–]_sabbath 7 points8 points9 points 4 years ago (1 child). Storage? What's your line of business? Neuro is on track for $8M in revenue, and Kent credits a small part of his success to this very subreddit! Use of this site constitutes acceptance of our User Agreement and Privacy Policy. If you’ve only been around 1 month and had no churn, what does that tell you. One time I had to offer to close their account, because I couldn't deal with it. We have created a Computer Science curriculum using FREE courses from the MIT OpenCourseWare program. SaaS is just the delivery model .. do you sell database? Twitter, who just spent time building a great product and getting everyone to use it, and is still trying to figure out how to monetize it effectively without losing their soul or user base). But when it comes to cheap things... You're an asshole if you try to haggle over anything less than $50/month I believe in the lean startup idealogy, but I don't believe in the cheap wannapreneur self entitlement stuff. [–]caporaltito 1 point2 points3 points 4 years ago (1 child), [–]xrobotx 1 point2 points3 points 4 years ago (0 children), [–]headie 0 points1 point2 points 4 years ago (0 children). Do you mind sharing your idea/ business. I put $500 into the business initially and have not taken on any other investments. A sacrifice is a powerful thing. An employee, a contractor, a freelancer, your mom, anyone! The data-backed results can help you enhance or expand your business, or it can help eliminate any stumbling blocks you might be facing. Don’t do it! Actually, I hear that's a pain in the butt too. © 2020 reddit inc. All rights reserved. 2. Now I’ve said even if your company “fails” and technically you haven’t failed if you’re still doing business 12 months from now, but I think we can all agree that making 4k/mo for a company isn’t a huge success. The second part of the test is “live” testing with the first few customers. Ironically, I'd say that your concept actually supports my point. As an example, if a SaaS company grew 100% year-over-year, and had negative margins of 60% (burning… The intent of the paper is to describe the approach used by most professional investors and strategic buyers to value a SaaS company. Maybe if I make enough in the future, I'll be able to pay for something fun. [–]ianchandlerNarrative Marketer 0 points1 point2 points 4 years ago (0 children). Please don't try to deceive people. Help and encourage each other, it's hard enough out there! After all, if you’re not solving a problem, you don’t have a business. Make your day as valuable as possible. How bad of a negotiator are you? You get ahead when you know more Learn everything you can about the business of your product. Or it actually did matter and you didn't notice that you could have been 10x bigger by now. The average value of the top 50 largest SaaS companies is $14.6 billion, but the median value is only $7.7 billion, thanks to a handful of huge companies at the top skewing the average upwards. One thing that I realized about myself that whenever I take on a new thing, everything fails. Every SaaS company can grow their presence on reddit by contributing their expertise and knowledge to the subreddits related to their product. For every expert you find out there that says Apple's stock is a sure bet, I can find you another expert with 20+ years of experience who will say the opposite. Making money when the company fails? You'll be surprised how well it works. That is one of the hardest things for me. There are other ways to raise funds, which you may consider. A story would help. Third, don’t raise money. I’ve got a company I started a few years back and haven’t touched in over a year, literally I don’t do anything, got to busy with other projects and its not viable to hire someone, it makes me a bit over 2k/mo. This means that you need to be able to add individual forecasts, such as a marketing funnel, in a way that doesn’t require re-building the entire model. And I think that can sometimes be good advice (e.g. And to be honest I struggle with a lot of them still. [–]lowfour 2 points3 points4 points 4 years ago (0 children).

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