This article presents valuable advice from SaaS startup founders to their younger selves. The founders share insights about various aspects of building and scaling a successful business. Some key advice includes creating value for society, solving problems for a target market, and effectively communicating the product’s value. Other important tips cover the importance of sales skills, providing professional services before launching a product, and honing writing skills for marketing purposes. The founders also emphasize the significance of focusing on distribution and discovery, determining financial goals, and selecting the right partners and co-founders. Additionally, the article offers guidance on managing finances, recruiting, and recognizing the different skills required at different stages of a startup’s growth. The founders stress the importance of perseverance and continuous improvement, as well as the need to stay adaptable and open to change. Overall, this article provides valuable insights and lessons for anyone involved in the SaaS startup industry.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| SaaS Startup Founders seeking advice | Seeking advice from experienced founders | More comprehensive and easily accessible advice for startup founders | Desire for guidance and knowledge |
| Focus on creating value for society | Shift from profit-oriented to value-oriented startups | More sustainable and rewarding startups with societal impact | Long-term success and personal fulfillment |
| Importance of customer-based approach | Emphasis on understanding and meeting customer needs | Improved business execution and scalability | Market research and customer feedback |
| Development of sales skills | Founders learning to sell and pitch ideas | Faster growth and success of startup ideas | Founder’s ability to effectively promote and sell their product |
| Starting with professional services | Providing services before developing a product | Early revenue generation and better understanding of customer needs | Validation of business concept and building relationships with clients |
| Honing writing skills for marketing | Focus on improving copywriting and marketing skills | Effective influence and marketing strategies | Enhanced marketing effectiveness and customer engagement |
| Selling before building | Creating hype and demand before product launch | Early customer base and increased sales potential | Generating interest and securing early adopters |
| Expanding professional network | Actively building professional connections | Increased opportunities and collaborations | Access to resources, knowledge, and partnerships |
| MVP with usable core product | Shift from perfect product to minimum viable product | Faster product development and user feedback | Agile development and iterative improvement |
| Focus on distribution and discovery | Emphasis on product visibility and accessibility | Increased market reach and competitive advantage | Unique and revolutionary technology |
| Balancing financial returns and control | Choosing between growth and control in startup | Optimization of financial returns or control of the company | Founder’s vision and priorities |
| Caution with venture capital investments | Careful consideration of investment offers | Maintaining control and focus on business | Preservation of company values and direction |
| Optimal seed funding amount | Avoiding unnecessary seed funding | Efficient use of resources and validation of business plan | Practical and focused startup growth |
| Setting aggressive revenue goals | Establishing ambitious first-year revenue targets | Accelerated growth and potential for Series A funding | Milestone achievement and investor confidence |
| Delaying non-founder hiring until PMF | Postponing team expansion until product-market fit | Preventing premature scaling and resource allocation | Risk mitigation and focus on product development |
| Choosing partners with essential qualities | Selecting co-founders with intelligence, energy, and integrity | Strengthened team dynamics and complementary skills | Shared responsibility and trust |
| Maintaining old friendships and relationships | Valuing existing relationships for potential partnerships | Access to trusted co-founders, partners, or investors | Built-in trust and shared values |
| Seeking co-founder with B2B sales background | Partnering with sales experts for B2B startups | Improved sales strategies and access to clients | Sales expertise and industry connections |
| Handing over marketing to specialists | Delegating marketing responsibilities to experts | Effective marketing strategies tailored to the business | CEO’s focus on long-term vision |
| Gradual hiring of financial roles | Hiring financial professionals as startup grows | Efficient financial management and compliance | Scalability and financial stability |
| Understanding recruitment timeline | Considering recruitment process duration | Efficient planning and resource allocation | Timely team expansion and project continuity |
| Effective hiring and performance evaluation | Developing effective hiring and evaluation strategies | Accurate assessment of candidate skills and performance | Talent acquisition and team optimization |
| Recognizing different CEO roles | Acknowledging different phases of CEO involvement | Efficient leadership transition and role optimization | Startup growth and sustainability |
| Continuous improvement and adaptation | Embracing trial and error and learning from failures | Iterative improvement and business growth | Entrepreneurial resilience and determination |
| Importance of targeted ads | Shifting focus from organic platforms to targeted ads | Increased conversion rates and reach | Effective marketing and customer acquisition |
| Persistence and perseverance | Encouragement to persist and overcome challenges | Improved skills and adjustment of strategies | Entrepreneurial mindset and determination |