How to Start a SaaS Business From Scratch in 2024
The Martell Method w/ Dan Martell
Dan Martell
4.9 • 628 Ratings
🗓️ 22 July 2024
⏱️ 30 minutes
🧾️ Download transcript
Summary
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Here’s why I fell in love with the SaaS business model…
You build the software once.
And get paid every month. Recurring revenue.
If I lost all my money, followers, and network today, I'd still know exactly how to build a SaaS company from scratch.
Building a SaaS business might seem daunting, especially if you're just starting out.
A lot of people think they need to raise capital, hire a very expensive development team, and spend years in the red before their product takes off.
But the key?
Start with the problem, validate your solution, and then build and refine your product. You don’t need a huge team or a ton of money…
Just a solid plan and the right approach.
My 7-step guide is your map, and it includes:
- How to pinpoint the exact problem your SaaS should solve
- The secret to building a prototype without wasting time or money
- 4 steps for creating a Minimum Viable Product (MVP) quickly
IG: @danmartell
X: @danmartell
Transcript
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| 0:00.0 | In this video, I'm going to share with you the simple seven steps to build a SaaS business, |
| 0:04.5 | even if you're just starting out. For those that are new here, I've personally built and |
| 0:08.0 | sold three software companies, spent tens of millions of dollars on developers, and invested in |
| 0:12.2 | over 60 plus software companies. I fell in love with SaaS because of the recurring nature of |
| 0:17.4 | the business model. Every month, people keep paying you as long as they're getting value |
| 0:21.6 | over and over and over. It's a beautiful way to build a business. But if I lost all my money, |
| 0:27.0 | followers, and network, this is how I would build a SaaS company from scratch in seven steps. |
| 0:31.6 | Welcome to the Martel method. I went from rehab at 17 to building a $100 million empire and being |
| 0:37.4 | a Wall Street Journal |
| 0:38.2 | bestselling author. In this podcast, I'll show you exactly how to build a life and business |
| 0:43.1 | you don't grow to hate. My bestselling book, Buy Back Your Time is out now. Grab a copy at |
| 0:48.6 | buybackyourtime.com or at any of your preferred online retailers. The first step is kind of obvious, but it's to start with |
| 0:55.3 | the problem. You know, back in the day, I was trying to figure out the idea. What do I build? |
| 1:00.5 | You know, I want to make money in this software world, but I don't want to build something that |
| 1:04.2 | nobody's going to use. And what happened is I just started consulting. It's actually a really |
| 1:08.2 | cool strategy. The more I was helping people build things for |
| 1:11.5 | their businesses, I would learn what was broken and where there was a gap in the software world. |
| 1:16.3 | So in many ways, learning how to build custom software for other people showed me where the |
| 1:21.6 | opportunities are. So this is the big hack. Many of the biggest companies out there, like Shopify, |
| 1:26.2 | like fresh books, like 37 signals, |
| 1:28.3 | they all started by being consultants first, building a tool either for themselves or for their |
| 1:33.1 | clients and then productize that for other people. See, the biggest challenge in building a software |
... |
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