It’s not easy to develop a SaaS product that people will love. As with any business venture, building and launching a startup software platform takes a lot of work; it’s a roller coaster ride out there. That’s why it’s necessary to understand the basics and how the entire process goes.
Yellowdig’s CEO and founder, Shaunak Roy, talks about how their company started and how they built their product. He shares their process with Host and B2B SaaS Sales Coach Matt Wolach and the importance of going through every step.
Podcast: Scale Your SaaS
Episode: Episode No. 250, “How To Educate Your Marketing To Win Traction – With Shaunak Roy”
Host: Matt Wolach, a B2B SaaS sales coach, Entrepreneur, and Investor
Guest: Shaunak Roy, CEO & Founder of Yellowdig
TOP TIPS FROM THIS EPISODE
Find Your Idea
To create a software product or a service, you must first develop a concept that will address an issue and benefit people. You can take the reference of various reports and studies to find out your idea. You can be ambitious. You can build a company based on a product or service that already exists, or you can develop a better product or come up with an entirely new thing. It’s good to have a different idea or approach to an already established market.
Study Your Niche
You already have the idea, now it’s time to find your niche. Explore. You can look into the various categories in the market and research your target audience. Learning your niche and target audience at an early stage SaaS company gives you an edge in the long run.
Identify Your Problem and Develop a Solution
Before going into the details, such as pricing, branding, or building a team, you’ve got to be clear about the problem you’re addressing and the solution. Remember, you don’t have a business if you’re not solving any problems. This part of the process takes time – it could take years – but it’s necessary. Find something people will come to know and love, and build a product around it. That would be your core offering.
Build Your Product
Now comes another hard part – building it. Once you have a game plan set and your strategies and tactics are in line, it’s time to gather your core team and try to build the product. There will be times that you have to go back to square one and rebuild. That’s perfectly okay. Know exactly the problem you’re solving, then you’ll know how to build your product. Look into the kind of technologies you want to use to build it and try to do it so that you can scale it without much technical debt.
Go Through The Basics
Starting a SaaS business comes will lots of decision-making. Go ahead and make the bad decisions and good decisions. All of these will lead you toward the right ones. Go through the basics, build from scratch, and follow every step, no matter how difficult it could get. The process is long, but you will surely get there with the right foundation.
Talk To Your Customers
So you’ve already built your product. It doesn’t stop there. It’s crucial that you communicate with your customers. Get feedback from your users to ensure that your offer is usable. Through this, you can learn what works and how to make it better. Knowing your audience gives you a jumpstart in developing sales and marketing channels.
[06:31] “The first question is, what’s the problem? What are you trying to solve?”
[15:22] “There is no silver bullet; I mean, it’s always like, kind of making sure all the bare basics are done right.”
[19:41] “Focus on the bare basics. It’s easy to get kind of defocus and go the shiny object or that one thing if I did a company is going to grow, but the reality often is that the basics has to work.”
[01:36] “We’re all living through it. And hopefully, we’re living the dream, as they say.”
[13:58] “You are combining some of the education you’re doing and just users sharing their experience. The more we can do that, the better that will help the marketing and sales effort.”
To learn more about Shaunak Roy and Yellowdig, visit: https://www.yellowdig.co/.
You can also find Shaunak Roy on LinkedIn at: https://www.linkedin.com/in/shaunak-roy-65231b/.
For more about how host Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com/.