Will Cannon Profile picture
Founder at https://t.co/aRM2872tYa (Sales prospecting) and https://t.co/qM9q5r4lq6 (eSignatures). I build and grow SaaS businesses 🚀
Suave Profile picture Alan Smith Profile picture Sen no Rikyū Profile picture 5 added to My Authors
8 Dec
Ever wanted to start a SaaS?

It's a fun hobby.

On that can be sold for 10x what you make in a year.

(Get to $8.4k a month and you could sell it for a million)

But you need an idea first.

Here's 4 ways to get a big one:
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.
Read 12 tweets
3 Dec
36 pieces of advice for anyone looking to start a SaaS company

MEGATHREAD:
#1 Raising your prices is the simplest way to increase your revenue.

It's scary but worth it.

You think people will leave but most won't.

Do it.
#2 Don't obsess with churn in the early days.

You're just starting.

Worrying about churn early will prevent you from seeing what makes them churn.
Read 42 tweets
1 Dec
The other day I saw this tweet by @blackhatwizardd and it got me thinking:

"What is it about unsexy businesses that make so much money?"

Here's what I found:
Unsexy businesses have 5 components:

1. Little competition
2. Little innovation
3. Big whales dominating
4. Everyone needs it
5. A lot of money

Let's dissect them one by one (your next business could be waiting)
LITTLE COMPETITION

2018: Everyone's a dropshipper
2020: Everyone's an agency owner
2021: Everyone's a crypto trader

Focus shifts from the goal (money) to the trend (where money looks easy)

Think about it:
Read 9 tweets
26 Nov
How you can build a $10,000 a month business...

... By copying an existing business and changing ONE thing about it:
I own two businesses:

1. UpLead (worth ~$75 million)

And we copied ZoomInfo.

2. Signaturely (with over 30,000 signups now)

And we copied DocuSign.

But why?
Take DocuSign ($~1.5 billion a year) for example.

DocuSign is #1... but there are hundreds of other players

There's room for many winners to build their businesses to 2M, 10M per year...

But to DocuSign? Everyone else is ants.

Numerically, a $10M/year biz makes sense.
Read 21 tweets
24 Nov
This 7-Step Cold Email Framework Helped 3,000 People Close Clients Online

//THREAD//
Step #1 - Your persona

You need to understand who your customers are.

This applies despite whether:

>they are new customers
>they are customers who already know you

I wrote a thread on this but basically:
1. Who are your current customers? Target them
2. What are their industries? Do research before reaching out
3. Target decision makers
4. What are they currently paying for?

These will save you months of pain
Read 17 tweets
12 Nov
84% of Business are UNDERVALUING their pricing

And this is stopping people from making thousands of dollars more

Here are 4 reasons you need to increase your price today

//THREAD//
1. Your Revenue Increases

Pricing above market value brings your business in more revenue

That simple

And the higher you price...

The more of a PREMIUM service you become.
2. Your Revenue Increases

Pricing above market value brings your business in more revenue

That simple

And the higher you price...

The more of a PREMIUM service you become.
Read 9 tweets
5 Nov
There are 3 ways to increase your SaaS’s value:

1/ Reduce Churn
2/ Increase LTV
3/ Get more customers

Here’s a thread on how to do each (and start making more money every month):
#1 Reduce Churn

5 steps:

Raise your prices
Allow customers to pause their account
Have a cancellation flow
Go Annual Only
Upsell on monthly or annual

I will break down each one so you can apply them to your business:
1. Raise your prices

The simple way is to raise your prices (yes really)
Raising your prices:

- Reduces churn
- Attracts higher quality customers

Cheap customers churn faster.
Read 22 tweets
3 Nov
I’ve had dozens of SaaS ideas throughout my business journey, but I don’t have the time to execute on them.

So here’s a gift.

5 ideas that you can become the founder of:

//THREAD//
Idea 1:

Problem: It's hard to pay employees in other countries

Solution: A SaaS payroll to pay remote employees in any country

Imagine paying W-2 employees remotely in 40 countries...
Not easy at all.

We need a SaaS that lets you pay someone as an employee, not independent contractors
Read 15 tweets
27 Oct
I condensed decades of SaaS and Cold Email experience in one place.

Bookmark this for when you feel stuck in your business.

MEGATHREAD:
How I built a SaaS valued at $~75 Millon (By Copying Other People):

Read 16 tweets
20 Oct
How I went from going bankrupt in the real estate crisis to building an 8 figure SaaS business.

A story thread on how to win in any market:
The story starts in the mid-2000s.

I was in real estate,

Specifically n the mortgage industry.

At this time - real estate was booming.

Everyone was purchasing and refinancing their home. Money was everywhere and I was young, dumb + naive.

I thought it would last forever.
I was doing pretty well and looking for ways to start investing & growing my net worth.

>Property values were going crazy
>I didn't know about stocks
>All the investments I knew were real estate (crypto didn't exist back then)

Plus,

I had some friends in real estate.
Read 17 tweets
15 Oct
Arguably the most difficult (yet most important) aspects of building a successful SaaS:

Getting traffic.

The more traffic you get, the more customers you get...

It's very simple.

Here's 13 golden sources of potentially millions of hits of traffic for your SaaS👇

//THREAD//
#1 Twitter personal brands

...why do you think I've been putting so much effort on Twitter?

It's a fantastic place filled with thought leaders, business people, entrepreneurs, freelancers, etc.

These people need your SaaS - use Twitter to get in front of them.
#2 Cold email

Cold email is one of the best ways to get traffic.

You can directly contact the exact people your SaaS is meant for - so start sending cold emails!

#3 Cold calling

Yes, cold calling works.

Similar to cold email,

Use it to directly contact your target market.
Read 14 tweets
13 Oct
If you were offered~ $75 million (can't disclose) for your company, would you take it?

I didn't.

Here are 5 reasons why (and why you might want to do the same someday):
And before I get into it...

The business I'm talking about is uplead.com, we build B2B prospecting lists.

And here's why I turned down ~$75M for it👇
#1 They were buying a slight majority stake (50-60%), they weren't buying 100% of the business.

I was going to be the CEO while not owning the whole business.

Selling the whole business is different than selling part of the business.
Read 10 tweets
8 Oct
One RT = One piece of advice for anyone looking to build a SaaS company👇
#1 Raising your prices is the simplest way to increase your revenue.

It's scary but worth it.

You think people will leave but most won't.

Do it.
#2 Don't obsess with churn in the early days.

You're just starting.

Worrying about churn early will prevent you from seeing what makes them churn.
Read 42 tweets
29 Sep
I joined Twitter 2 months ago to share what I've learned about SaaS...

And now we're at 25k followers!

There's clearly a demand to learn more about SaaS,

So if I were you, I'd go ahead and follow these people as well:
Andrew Gazdecki (Founder of Micro Acquire)
@agazdecki

Andrew is basically the leader of the bootstrap community,

So if you're into that?

Follow him.

I actually have a story with Andrew:
When I was a nobody, he took time out of his day to get on a Zoom call with me.

He listened to all our business pain points and offered advice.

He cheered me and said "Dude, keep doing what you're doing. Focus on x - not y".

He does this with other founders too - follow him.
Read 16 tweets
15 Sep
4 Reasons Why You Should Start Your Own SaaS

(And why becoming a multi-millionaire is way more likely than you think):
Even though I failed at

- Real estate
- Insurance
- Merchant services

And even filed for bankruptcy at one point,

Today I own 2 SaaS (one valued at ~$75Million) and they changed my life forever.

Here’s why it might change yours:
#1 Recurring revenue

For me, this was life-changing.

With recurring revenue:

>You have a rough estimate of how much money you will make (and when)

>Every client/customer you acquire is worth more than a one-off purchase
Read 12 tweets
10 Sep
I built a SaaS from zero to a ~$75 Million valuation in 3 years.

Here are 8 lessons I learned the hard way (so you don't have to):
#1 Talent

Once you get past a million in ARR, your job changes.

It turns into finding the best people for the job:

>hiring
>recruiting
>managing
>leading talent
This is super important.

Remember:

You're not gonna be able to build a huge business without talent.

>Find very talented people
>Pay them a lot
>Leave them alone

Simple.
Read 23 tweets
8 Sep
My SaaS just broke $8 Million in sales this year,

And I'm incredibly grateful to be in this position.

But it wasn't always this way...

Here’s the 6 (and a half) business I've failed at:
#1 Real estate

I didn't have any money and I wanted to build a real estate empire at the time.

At one point,

I slept in my real estate office.

I was leasing an office (800 sq feet) for my own business and lived in it because I didn't have enough money for an apartment.
I slept there and woke up and showered in a bucket.

(there was no shower)

Yes, I had a small bucket in a little bathroom.

This was just me and my girlfriend at the time (now my wife).

We lived in our office until we hustled enough to finally buy an apartment.
Read 16 tweets
3 Sep
Crazy Story:

One time we had to stop a cold email campaign because we were actually getting too many replies...

(80% open rate & 62% reply rate)

Below is the exact cold email so you can steal it:
There are 7 moving parts here so don't get lost!

1. Subject line

"Your story"

The subject line is short, adds curiosity, and most important of all:

It doesn't look spammy.

If your subject line begins with something like "hey Will, wanna chat this week?"

You already lost.
2. First line

"Rand. I came across your interview with Alex Turnbull from Groove"

Very personalized.

Rule of thumb:

A good cold email doesn't look like a cold email.

We thought:

"Who are some thought leaders in the B2B customer acquisition space we want to learn from?"
Read 19 tweets
1 Sep
David Ogilvy once said:

“Advertising people who ignore research are as dangerous as generals who ignore decodes of enemy signals”

But doing market research sucks,

So here's 5 tricks you can use to make it suck WAY less

(Bookmark this thread):
#1 Talk to them in person

Most people don't do this.

They think it's best to assume what they want...

But "assuming" never won anything in business.

When you talk to customers?

You get an idea of who they are and you can write to them much more easily.
#2 Go Unsexy

When you're starting, look for the 'unsexy' business.

Don't be a new "marketing agency for tech startups"...

Become a "marketing agency for dentists".

Start in a boring industry because there's less competition there.
Read 14 tweets
27 Aug
TRUTH BOMB:

You're (probably) not gonna build the next Facebook or Amazon.

But that shouldn't demotivate you.

You can still build a HUGE business by copying an existing business

And doing 1 of these 5 things differently:
1. Make it easier to use

You don't have to develop an entirely new & unique algorithm...

Just make your product very easy to use.

A lot of software is very complicated.

(you get inside it and you're like "How do i do XYZ?")
Make it simple and get your clients.

By the way,

That's what we did for Signaturely.

Getting online signatures was hard...

So we did the exact same thing other signature SaaS's were doing + made it easier to use.

Simple.
Read 16 tweets
25 Aug
Did you know?

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.
Read 12 tweets