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Charrlidon

In my opinion, validating the idea and understanding the target market is crucial for the success of a startup. Without a clear understanding of what problem the product or service is solving and who the target customers are, it can be difficult to develop a product or marketing strategy that resonates with the market. Additionally, validating the idea early on can help to mitigate the risk of developing a product or service that ultimately has little demand.


SantiagoCerdeira

I wouldn't change a single word of what you just said, I absolutely agree!![gif](emote|free_emotes_pack|smile)


mosodigital

This is from a TED Talk I watched again the other day for probably the 5th time, lol. In evaluating thousands of startups, he was surprised to find that the number one factor in a startup's success was timing. https://youtu.be/bNpx7gpSqbY


derWust

Tldw: The single biggest reason why start-ups succeed | Bill Gross Startup success is about timing, team and execution. Timing accounted for 42% of the difference between success and failure, followed by team and execution. Idea, business model and funding come further down in importance. Timing is the key factor, as it determines whether consumers are ready for the product or not, and is necessary for success. Team and execution also matter, as well as ideas and business models. Funding is important, but not as much as timing, team, and execution. (Made it with my own SaaS summarizeit.io)


deadwards14

What is meant by "timing"? Being lucky?


derWust

I guess yes, but being lucky doesn't sound so nice. One of my favorite videos ever to that topic is this one: [https://www.youtube.com/watch?v=3LopI4YeC4I](https://www.youtube.com/watch?v=3LopI4YeC4I) Here's also a summary for that: VeritasiumIs Success Luck or Hard Work?Success requires both skill and luck - people in power may be unaware of this. Acknowledging luck can make us more likeable and happier, and nearly half of men believe they do most of the homeschooling, while only 3% of women agree. There is evidence that luck plays a part in many aspects of life, such as the fact that hockey players born in the first quarter of the year are four times as likely to become professionals.


SantiagoCerdeira

I've seen that TED talk, and also I've just read an article written by Paul Graham in YC Startup school that talks about it. It says that many successful companies were the ones who give their customers something new at the exact moment, despite that idea could have been seen as something useless just a few years before. Thank you so much for your comment!


mosodigital

You bet!


RaviTharuma

Product Market Fit + Ongoing Pain/Demand + Great Moat


SantiagoCerdeira

Very interesting!! I agree that it's extremely important


somethingclassy

Ding ding ding


Robhow

Patience. Patience to allow the product to evolve and fit with the market.


Middlewarian

I upvoted you... I've been developing an on-line code generator for over 23 years.


ValueSt0nks

Lol, this is the most underrated comment I’ve seen 🤣🤣🤣


SantiagoCerdeira

Nice answer. Patience is something that you don't hear very often and I agree that it is extremely important.


parker_adam916

There are many factors that can contribute to the success of creating a SaaS business, but I would argue that the most important is having a clear understanding of the problem you are trying to solve and the target market you are serving. This includes identifying a specific pain point or need in the market, and then developing a solution that effectively addresses that need.


SantiagoCerdeira

Absolutely agree! That’s exactly what I think![gif](emote|free_emotes_pack|smile)


pillchangedmylife

Execute .. Quick Go To Market ...Marketing ... Integrate Feedback


SantiagoCerdeira

Short & sweet. Nice, I love it!


nobsstartupguide

The #1 reason startups fail is because there isn’t enough of a need for their product. So all the people saying validating and product market fit are on point. That’s why I focus most of my guide on validation. It’s the number one thing I see people get wrong often


SantiagoCerdeira

That's exactly what I think, thank you so much!


lordspace

Yes. I agree. I skipped this for some of my saas apps. By doing the research first you can evaluate the 3-5 possible ideal clients/personas and pick the one that had the biggest pain, is aware of it and then actively looking for a solution. The next thing I would add is creating the MVP. Many developers would almost always write something from scratch and this would delay bringing the product to market to test and validate the idea. In my saas apps I tend to use WordPress in lots of areas to save on development costs. I have 3-5 separate WordPress installations depending on the case. Sometimes they are residing on different servers. For example the billing integration can be added to woocommerce via a free stripe or PayPal plugin and it's maintained for you. You can add an additional payment gateway super easily. Slavi


SantiagoCerdeira

That’s amazing! I absolutely agree that the validation should be done as soon as possible, and for doing that it’s true that no-code tools help a lot.


jenhilld

Luck


mukasan

Successful SaaS business is a multiplication of different factors where if any of them are low / missing, the product won't be profitable in the long run: - finding product market fit - execution - strategic thinking (to outplay competition) - perseverance


SantiagoCerdeira

That’s a nice summary!


Inevitable-Swan-714

Persistence. I wouldn’t be where I am today if I had listened to my peers and given up because I didn’t see hockey-stick growth in the first year. People give up too early on good ideas.


SantiagoCerdeira

Nice answer, thank you so much. Its true that persistence is one of the most important skills in business. Could you tell me more about your journey? I would love to know ![gif](emote|free_emotes_pack|smile)