SaaS systems fail all the time. In fact, if a SaaS is run by an owner or company with no experience in SaaS, it is overwhelmingly likely that it will crash and burn. Often due to a single, simple problem.
A lot of people and companies who want to get involved in SaaS development are operating under a faulty premise: that SaaS is this sort of magical passive income source and that they can just build the product and start making money.
The potential to earn passive income by building a Software as a Service (SaaS) system is very alluring, but what will you have to put in up front to get there? Determining your cost to build a SaaS can be more complicated than you might think. We’ve built a number of SaaS systems and want to share with you how to estimate your spend on each part of the project, avoid costly mistakes and get the most for your money.
We're going to go through our ranking, from most to least important, for ten different aspects of digital marketing.
There are a lot of elements involved in the ideation, validation, estimation, build, launch, and growth of a SaaS system. The estimating step is critical as it helps you understand if this project is "worth it," how to proceed with funding, and what features should and should not be added to the Minimum Viable Product (MVP).
We are proud to announce the launch of our latest SaaS system, MedRev! This project has been in production now since March and is finally at an MVSP (Minimum Viable Sellable Product) state and is going to market. The sales team for this company starts it's work tomorrow and we are so happy to have helped them get off the ground.