Build Your SaaS From Scratch: 8 Simplified Steps

Welcome and overview of the 8-step process to building a SaaS business. Setting expectations and introducing key behavioral principles.

Evaluate your network of founders, influencers, and potential customers. Apply social influence principles to gauge potential support.

“Network trumps audience with SaaS.”

Consider the curse of the audience; ensure they genuinely need your solution. Use commitment and consistency bias to validate genuine interest.

“Beware of what I call the curse of the audience.”

Determine if you're early to a promising space, while understanding the risks involved. Apply loss aversion principles when evaluating market risks.

“Being early is great if you can do it, it's often hard to repeat.”

Record problems encountered with potential solutions. Implement a reward system for consistent diary entries to reinforce the habit.

“I keep a notebook of problems with potentially some proposed Solutions.”

Brainstorm potential solutions to identified problems, realizing software isn't always the answer. Use 'prospective hindsight' to identify potential pitfalls of each solution.

“Every solution is not necessarily software.”

Utilize the 5PM idea evaluation framework to assess your solution's viability. Focus on minimizing cognitive biases in the evaluation process.

“Evaluate Your solution using my 5 PM idea evaluation framework.”

Determine how your solution will differ from existing solutions and provide unique value. Use the 'Peak-End Rule' to create memorable and positive experiences.

“If you build a commodity, you're not going to grow very fast.”

Talk to potential customers to validate the problem and solution, using effective questioning techniques. Address 'status quo bias' by highlighting the benefits of change.

“If you haven't read the book The Mom test I suggest that you buy it and read it.”

Set up a landing page to capture email addresses and gauge interest. Implement 'Decoy Effect' by adding options to increase perceived value.

“Start marketing before you start coding by setting up a landing page.”

Develop a minimum viable product to validate the problem and solution. Employ 'scarcity principle' during the initial launch to build demand.

“Build that mvp the minimum viable product.”

Launch in phases to manage feedback and iterate effectively. Utilize 'social proof' by highlighting early adopters and positive reviews.

“The idea with this phased launch is... you get feedback from them and you iterate.”

Dedicated time each week to review progress, identify challenges, and plan for the next steps. Reinforce the importance of continuous improvement and adaptation.