You can sell your SaaS for 10x what it makes in a year.
So if you have a $4,000/mo SaaS?
You can sell that for $500,000.
Half a million dollars.
Here are 4 ways you can come up with the next big SaaS idea:
1. Copy what already works
Easiest way to see what works:
Look on G2 or other review sites.
Take a look at industries where there are players that don't have the best of reviews.
For example,
We found lead-gen businesses.
We saw that people weren't loving what was on the market (too expensive, you had to use other software, bad leads, etc)
These poor reviews will show you where there's an opportunity to enter an established market & disrupt it.
You might only have to tweak one thing:
>Combine 2 steps into 1
>Pricing
>Fix the 1 thing that sucks
>Different acquisition channels
>Niche down, then expand over time
All it takes is one aspect of improvement to completely change the game.
2. What are some problems YOU encounter?
Ask yourself these questions:
>Which problems are you running into?
>What do you wish this could do?
>Do your peers, colleagues, and friends have the same problem?
>Would they be willing to pay you to create a solution?
You can even design a simple solution to these problems & tell your friends about this "cool company you found".
If they ignore it, keep digging.
If they're willing to pay for it, you might have something very interesting...
3. See the market from the perspective of a buyer
One thing I like to do:
Go into sites like Flippa, Microacquire, and Empire Flippers.
This is a great way to learn about
>other industries
>how they acquire customers
>what their costs are
>how they do their marketing
You can learn everything about a business (which can give you some ideas for YOUR business).
I don't come up with new ideas...
I copy existing ones, then use my background in sales and marketing to get new customers.
4. Partner up with big influencers that have an audience
Partnerships are awesome.
You can use your partner's audience and use the 'audience-first approach to sell them something (because they already trust your partner).