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Launch a New Business (with Hardly Any Risk)

Step by step on how I launched my B2B SaaS company.

March 01, 2023

Last month I made a $250k+ deal. The business has zero marketing, no website no sales team. I'm launching this new company because:
1. I exited the day-to-day of my B2B agency
2. The new co-services have the same clients as the B2B agency (synergy). It's a B2B SaaS play.

Make It Low Risk

Most people say SaaS businesses are risky to start. Mine isn't. There are 3 steps to making a business low-risk:

  • Use an existing customer base: If you have an existing customer base, the risk is nearly eliminated. That's why people want personal brands to sell to people who already trust them.
  • Know the industry: Know the big brands in the space, the tools customers use, and the pain points. That's how you find the best ideas.
  • Understand the problem: When you're in the industry, dig into the tools & problems people hate.

Choose the Business Model

Answer these 3 questions and you're set:

  • What is my clear offer: "Make the offer so good the client feels like an idiot refusing" - Dan Kennedy (paraphrased)
  • What product/service best solves the problem: Decide if a product or service best solves the customer's problem. Then what kind of product or service? In my case, I know the existing SaaS tools for my customer don't do the job well, so I'm building a SaaS product.
  • Do my unit economics meet industry standards or better: Once you've decided on the product or service, determine what industry standards are for gross margins & unit economics. Do this by speaking with an expert.

Nail the Product

You've decided on your offer, the type of product, and the business model. Now you need to make a product that does this:
1. Solves a problem the current solutions don't solve Or
2. Solves a problem better than the current solutions do.
Choose 1 to start.

Beta Test

You know how well your product solves the problem by beta testing with customers. There's no other way. This reduces risk significantly.

You now have a clear path to sales.

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