Have a SaaS Idea? Is it worth it? I'll tell you...

[mentalic]

@mentalic I've got similar concerns for you in that you're heading into a very competitive space. I checked out your site and I think I get your sales issue. You've got to present your value proposition clearly which is "We've got the easiest shopping cart for wholesalers. period." I don't see that anywhere in your copy and I'm assuming that's why you're having challenges pitching to clients. That may not be it, but I have some insight if it's useful. Here are some tips:
1) Focus on the one thing you do really well : making ecommerce easy for wholesalers
2) Walk them through the customer story, show them why what they are doing is so complicated, really make it visible to them and show them the problem you are solving and how much it is costing them

Awesome notes...

3) Now show them your solutions, walk them through it don't just have screen shots. What happens when they first log in, how easy is it to set up a product, how is it going to help them land the sale effortlessly. You'll want all that information on your website.
Golden Rule: It's not about how you do something or your fancy features, clients care about how it changes their personal experience
Golden Rule #2: Don't assume your customer "gets it", walk them through the customer experience step by step by step to prove your point.

Right...

4) If you're waiting you're doing something wrong. You should be pitching online, via phone, via Skype, however you can get in front of people. Once you do that you'll feel comfortable enough to offer scarcity pricing which will actually close deals. You may be doing this already, but for those that aren't, scarcity pricing is when you say "Here's my awesome thing, here's how it's going to change your life, my first ten clients get 50% and I've only got 3 spots left. If this isn't right for you that's totally cool but as soon as I walk out this door the price doubles" Sometimes you want to give them a window like a week. Send them reminders throughout the time period. Guaranteed you'll get all your signups at the very last second, that's how humans work. But you've got to apply some pressure and incentive. Remember, abundance is everywhere, you'll never run out of potential clients. Even if you're giving incredible value people need more than that to make a decision, it's just how human psychology works.

Fortunately we are not waiting. I have hired two people to cold call companies and we have some warm leads. However we don't have scarcity pricing, which I think is a very good idea.

Thank you very much for your input! Very valuable. I will discuss every point with my partner and will keep you informed.

 

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[codo3500]

@codo3500 Hey Man! So, LaunchVal definitely shows your talents for graphic design, this is a great landing page for your product. This is a great idea, it's a competitive space but there's room, however there's much lower hanging fruit. Is there a way you can pitch this to businesses vs individuals as a niche testing platform. What about insurance companies or real estate? Just some thoughts here, but I'm curious about how much work it will be to drive traffic here against the competition. There must be industries that don't have a tool like this that need it, entrepreneurs have 10 choices plus for lead page building and while the credit card option is innovative, everyone will copy it if it becomes successful. Dig deeper, who's never heard of landing pages and needs better market testing in their industry. Be more than happy to brainstorm with you on this.

I'm actually a Real Estate Agent, so that's awesome you think there may be a need somewhere related to that. We completely realise the Credit Card thing will be ripped off by our competitors, it's just a nice feature to kick off with while we play catch-up with everything else and build an all-encompassing product.
In Real Estate (at least here in Australia) we only need to find sellers, not buyers. The problem is, even awesomely designed landers don't land you appraisals, and the CPC for "Market Appraisal" or "Sell my house" is intensely high. Traffic becomes the issue with most of these kinds of ideas, it's hard to get enough people to the page affordably to make it work.

 

[mikekob]

I'll have a crack at it.

In emergency medicine a heart attack gets treatment starting by the paramedics. They obtain an EKG in the field and initiate an emergent transport to the hospital. Currently the medic interprets the EKG, which may be incorrect due to poor EKG skills and cause the hospital to call a "cardiac alert." Currently very few agencies have the ability to transmit the EKG which is done through a ridiculously expensive program that can only be used if that monitors vendor places the receiving unit in the ER. After a conversation yesterday this is 250k just for the installation and isn't global. Only certain ambulances have the ability to transmit.

The whole idea is to shorten a "door-to balloon" time and prevent further heart damage. These activations can be called inappropriately by the medic which has a massive impact on the hospital.

Per false call the hospital uses approx 9k in supplies to ready the room. The success rate in the Denver area is about 45%. One hospital reported 9 false activations in the last three months of 2013. So a minimum of 81k in 3 months.

Another medic and I have created a notification system to alert the hospital by in-house B2B apps. Hospital has one end, medics have the free app on their phone. Any medic with an iPhone or droid can participate and the hospital pays for the SaaS and device in their ER.

As for numbers I'm still trying to figure out the numbers but were looking at a tiered price structure. A small hospital would be spending just under 100k a year where the larger ones are looking at high 100's. Again the pricing is up in the air so if anyone has input I'm all ears.

We have a meeting Monday with a group that owns 8 hospitals and 4 clinics. This would probably be just over a million a year for all 12 facilities. So there's your million.

As for money saved by the hospitals it's hard to say as there isn't a product that does this yet. We look at the alerts and try to recoop that money. So were saving at least 9k per false call. This doesn't include other areas like shorter hospital stays, less rehab, better statistics for the hospital and the ability to obtain better accreditation and other marketing perks.

So not only does this save a shitload of money but the patients will have a much better quality of life due to shorter times to treatment and better preparation from the hospital.

Currently we need a website built, or at least a landing page to have some presence on the web.

Mike

 

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[Fulfilled]

Hey man, thanks for this thread, we all appreciate it.

What I want to do is build a SaaS product to solve problems managing field service businesses. Like this:

http://getjobber.com

The problem is, competition is rough. Google search "field service management software" and you'll get 15-20 different established companies. Do you think it's worth pursuing despite this?

One more question. How would you approach building a SaaS product like Jobber? I was thinking to remove all the unnecessary features out of Jobber's big feature set, build a lean product, then gradually add more features. But other than that, I can't see how I can do it much differently from them. Like I said in my last thread, the pain points I found were addressed sufficiently already. There is no need it seems. Perhaps I should continue to look for more pain points?
---
This idea a definitely worth 1,000,000 by your description. The problem costs more than 2000$ by far and the field services industry is HUGE. The only thing that's preventing me from starting is because I won't have a USP to differentiate from the competition!

 

[throttleforward]

Currently the medic interprets the EKG, which may be incorrect due to poor EKG skills and cause the hospital to call a "cardiac alert."

Does your system still require medic intepretation of the 12 lead?

Also are you looking at stroke alerts as well? Richmond had a stroke alert program so that patients could get priority transport and treament at a stroke center with appropriate emergency CT and antithrombolytic capabilities.

 

[mikekob]

We do interpret in the field. I'm a paramedic at Denver Health and were in the high 90's for our accuracy. Other agencies are required to interpret as well but they're not exactly the best at it. That's where the metro area 45% comes from. Mostly from a certain agency and "dual role" fire dept.

Thought is not to micro manage EMS, but to have better preparation instead of calling blindly.

We do use the stroke alert and this will be used for a video conf with the docs prior to arrival to the ER. Same as cardiac alert for the most part.

 

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[throttleforward]

I'm a paramedic at Denver Health and were in the high 90's for our accuracy

I hear that's a good system. Too bad there is such a dropoff in quality around your area - I assume it was the same at Richmond.

Not to get too off topic, but I always wanted to invent a paramedic assist device that would combine a vent, monitor, AED, autopulse and a computer controlled drug box tied to an IO line. That way all the medic has to do is strap the autopulse, intubate and hook up the vent, place the IO line, and hit "start ALCS protocol". No messing with IV bags, locks, drawing up meds out of a drug box in the back of a moving ambulance, poor compression rates, over ventilating because the poor firefighter you pulled to help out has never had to do it for real, not giving drugs on time, etc. I'm suprised all this technology - which is sitting around the ambluance in pieces - hasn't been put together.

 

[mikekob]

We don't have it in any hospitals yet. That's what our meeting Monday is for. There are "similar" systems out there but I've never seen them in place. Very expensive, only agencies with certain monitors are able to participate which is difficult because of the ten+ agencies here there's 5 different monitors in use.

The medics still interpret and treat and transport based off their clinical findings. The only difference is whether or not the hospital activates and therefore wastes the thousands of dollars. The goal us not to eliminate the paramedics ability to interpret in the field but with such poor numbers there's gotta be a solution. Hence me and my product.

Hardware is Apple hardware. As for the software it's still under wraps. I'd love to share more but right now I can't. Takes the mystery out of it. Ha ha

Liability is zero. Well, we need to adhere to HIPAA standards which this does and more.

We've been developing this over the last year or so and to this day I have yet to hear a single shred of a downside.

I got the first draft of our white papers done this morning. I'd love to trade you some knowledge of our product for your input based off those papers if you shoot me your email.

You'd be surprised how simple this whole product is. Our MVP is just about done minus some testing but were looking at almost no overhead.

Mike

 

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[mikekob]

I hear that's a good system. Too bad there is such a dropoff in quality around your area - I assume it was the same at Richmond.

Not to get too off topic, but I always wanted to invent a paramedic assist device that would combine a vent, monitor, AED, autopulse and a computer controlled drug box tied to an IO line. That way all the medic has to do is strap the autopulse, intubate and hook up the vent, place the IO line, and hit "start ALCS protocol". No messing with IV bags, locks, drawing up meds out of a drug box in the back of a moving ambulance, poor compression rates, over ventilating because the poor firefighter you pulled to help out has never had to do it for real, not giving drugs on time, etc. I'm suprised all this technology - which is sitting around the ambluance in pieces - hasn't been put together.

Well I will throw this out there. Once this initial system is in place we will be going even harder towards an iPad based ePCR that links directly to the hospital notification side. From there were planning a heart monitor that uses the iPad interface, Bluetooth capnography, Bluetooth stethoscope that then records lung sounds and possibly a bp cuff. That one already exists though.

We figure about ten years and we'll start relaxing a bit. EMS is the red headed step child of tech. Not anymore if we have anything to do with it.

Denver Health is pretty good. Busy, urban, and busy. I'm averaging about 1100 calls a year. You wouldn't happen to be on emtlife would you? The whole shebang with the auto pulse and everything was a thought we had but it's way down the road.

 

[alexanderkjones]

@Mike.B I'm not sure who this question was fielded to but almost every piece of equipment in most industries has a serial control port. I'm sure there's ways to bring it all together.

 

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[Stephanos83]

Well I will throw this out there. Once this initial system is in place we will be going even harder towards an iPad based ePCR that links directly to the hospital notification side. From there were planning a heart monitor that uses the iPad interface, Bluetooth capnography, Bluetooth stethoscope that then records lung sounds and possibly a bp cuff. That one already exists though.

We figure about ten years and we'll start relaxing a bit. EMS is the red headed step child of tech. Not anymore if we have anything to do with it.

Denver Health is pretty good. Busy, urban, and busy. I'm averaging about 1100 calls a year. You wouldn't happen to be on emtlife would you? The whole shebang with the auto pulse and everything was a thought we had but it's way down the road.

Your idea sounds very good and interesting. I hope you're taking measures to make your process and service proprietary. There are a lot of giants in the medical and bio-medical industries, and they may try to crush you if this idea gains traction.

 

[mikekob]

Your idea sounds very good and interesting. I hope you're taking measures to make your process and service proprietary. There are a lot of giants in the medical and bio-medical industries, and they may try to crush you if this idea gains traction.

This is also on the plate. Probably next week after our initial meeting. Were a little busy til then. But yes this is definitely a priority. Should we have the VP's sign an NDA at our meeting Monday?

 

[Stephanos83]

Well, if the proprietary element will be strictly through contract agreements, disclosures, etc. I would recommend talking to a business lawyer about how to construct these. The important thing to is to get exclusivity of the arrangement for a predefined period of time. I would provide a caveat that the first few months of service are more trial-based with an option to cancel if not completely satisfied with the service. If they're satisfied, offer a tiered system that promotes buying the service on an annual or mutli annual basis with a significant discount over month-to-month rates. I would imagine you could place a matching clause in the contract agreement that would allow you the chance to match the offer of a would-be competitor. I'm no lawyer though. This is something you should look into. As an additional layer, you could develop proprietary hardware to go with the service. Not everyone has apple products. Are you providing the apple hardware in the offer?

 

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[Stephanos83]

The Proprietary element is hidden from the customer. That's the back end. All they get to see is the two clients and watch it work. As for the exclusivity I'm a little confused. Do you mean of the tech and/or software? Were working in exclusivity for the first hospital to sign a contract with us. We decided there will be no "free trial runs". You get it in place and it's ready to go. Demand is too high to offer anything free at this point.

We are offering a tiered payment plan and a discount with a long contract and/or payment upfront.

I see. Hopefully this wont be an issue. As a small company we are agile. We're able to move about and change gears on projects within minutes. Don't like it? gone. Want something different? Done. There's no approvals, no meetings, no board rooms. We're agile and fast and in the amount of time it would take a large corporation to change it's gears it would be too late and too expensive. Boom. make that shit rain

As part of the initial setup the customer gets however many devices they want. Then they get the software and devices leased to them. So devices are included. Later down the line we would make products that are exclusive to our interfaces.

Sounds like you've got the details all buttoned up. As I already said, the idea sounds great and solves a legitimate problem. Would love to hear more on your progress in the future and the challenges you end up facing. Best of luck to you in getting this thing running.

 

[mikekob]

Thanks man!! I've definitely looked at this from very aspect to have maximum a$$ kicking. I think my favorite part is the greed and competition between the hospitals. Ha ha hospitals.

So OP who wins?

 

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[franco68]

Hey buddy,

Currently validating this idea: http://www.LaunchVal.com

Basically, it's a landing page builder for startups to validate their ideas, and allows them to check if people will Pay for their idea (by a mock-up billing page). I've already build a lot of the technology as we use it internally, but we're working out if the market is big enough, and if people want it, before I go and build the full system.

I like LaunchVal.com! Congrats!
GREAT: idea and design (wow)
QUESTION MARKS: (1) targeting potential customers can be really difficult (2) without terms and conditions/privacy policy, Google won't allow you to advertise

Good luck!

 

[franco68]

Hey All, I've been working on bringing some good educational content to the forum (checkout my threads) and I wanted to tackle evaluating SaaS value propositions and defining minimum viable products by example.

If you've got a Software as a Service idea for B2B, Post the generic idea here without naming the industry and list your feature set and I will give you a free evaluation on the profitability of the idea here on the thread. I want people to see what a good SaaS product looks like and what a bad SaaS product looks like for startup entrepreneurs breaking out into their first product.

NO ONE IS TRYING TO STEAL YOUR IDEA GET OVER IT. Don't get into details but give me enough so I can provide you value and point you in the right direction while helping others here on the forum.

THERE"S ALSO A PRIZE: I WILL WRITE A PITCHDECK FOR THE BEST IDEA SO YOU CAN GO PRESELL YOU SAAS PRODUCT.

For the person offering the best value to their clients I'll create a 10 slide pitch deck honing your value proposition and set you up with everything you need to walk up to your client and pitch them to buy 6 months of the service before you've even built the product so that you can fund development without any of your own cash.

Caveat: The winning idea must be worth $1,000,000

This is not as hard as it sounds, if you can prove to me that you know your market intimately, that you have a product worth $200/month solving a $2,000/month problem for your customer, and there are more than 10K customers in your market you've got a million dollar idea. Neat right!?

So let's get the party started, this is a great opportunity for fun, learning, and for you to make some serious cash if you've got a killer idea. Looking forward to this!

GREAT blog entry. I might share our startup idea later, but HIGHLY RECOMMEND reading to anyone in SaaS:

The SaaS Startup Killer by VC David Skok (and why LTV should be at least 3x > CAC !!!)
http://www.forentrepreneurs.com/startup-killer/

 

[Fulfilled]

Monday is for. There are "similar" systems out there but I've never seen them in place. Very expensive, only agencies with certain monitors are able to participate which is difficult because of the ten+ agencies here there's 5 different monitors in use.

The medics still interpret and treat and transport based off their clinical findings. The only difference is whether or not the hospital activates and therefore wastes the thousands of dollars. The goal us not to eliminate the paramedics ability to interpret in the field but with such poor numbers there's gotta be a solution. Hence me and my product.

Hardware is Apple hardware. As for the software it's still under wraps. I'd love to share more but right now I can't. Takes the mystery out of it. Ha ha

Liability is zero. Well, we need to adhere to HIPAA standards which this does and more.

We've been developing this over the last year or so and to this day I have yet to hear a single shred of a downside.

I got the first draft of our white papers done this morning. I'd love to trade you some knowledge of our product for your input based off those papers if you shoot me your email.

You'd be surprised how simple this whole product is. Our MVP is just about done minus some testing but were looking at almost no overhead.

Mike

Hey man,

I did a quick google search of your idea yesterday. I found something that I thought you'd like to know.

I found a report created by med school students about transmitting ECG using an iPhone. It looks like a cheap iPhone apps exist, designed to transmit ECG straight from infield to the physician. How is would you solution be different from this?

 

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[Fulfilled]

Free app: https://itunes.apple.com/gb/app/fastecg/id477985471?mt=8
An improve, more effective version being developed by med school students:

Edit: lol I hope these apps isn't exactly the same as the MVP your talking about. Because like you said, the hardware is apple (iPhone) and the software is surprisingly simple (take a picture of the graph paper then send them to the physician)

 

[mikekob]

So that's being used in Switzerland and a few other European countries and is not HIPAA compliant. The web based login by using a code is a pain in the a$$ in the back of an ambulance. It shows the EKG on a website instead of alerting the ER itself.

Concept is there. Execution is marginal.

 

[Fulfilled]

So that's being used in Switzerland and a few other European countries and is not HIPAA compliant. The web based login by using a code is a pain in the a$$ in the back of an ambulance. It shows the EKG on a website instead of alerting the ER itself.

Concept is there. Execution is marginal.

What I'm concerned about is how simple the concept is. An app that takes pictures, then sends it to an external server with a few specific features to meet the needs of the EMT and the physician is very cheap. Like under 1k cheap. If your charging, say 200 a month, and hospitals are finding it incredibly useful, what's stopping them from hiring a bespoke developer to develop it for them?

Actually, a simple app like this could be made then distributed free by anyone because it's so cheap to build. Think med school students.

 

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[fuller]

I am currently working on a prototype for my slowlane job. I work in the finance/accounting department and am responsible for tracking all expenses for our projects. In my industry, we have many projects that take place out of the office for months. Essentially, we create a sample project, pitch to large buyers and once they order it, we're in business.

This is a very cash-flow dependent industry and real-time cost tracking is a must. However, it's also an industry with unique rules/laws and dominated by proprietary software. Our accounting software is proprietary and services only this industry. In other words, while an ERP would do everything I'm trying to accomplish, nobody in this industry is willing to shell out that kind of money for it. On top of that, this industry is really old-school and set in its ways (It took me 2 years of convincing to move from a paper system to a cloud-based spreadsheet one).

My idea is to create an order accounts payable tracking service for these projects, accessible on the web and mobile, that logs the users in of each project, generate a unique number based on the project, and allows them to enter the costs/accounting account codes/etc. Supervisors would be able to approve within the system and it'd still be able to print out the forms for backup.

Initially, I decided to undergo this project to make my life easier. I was going to charge ~$100/m per project to my company and go from there. But the more I asked around, all of the project managers loved the idea. And given that all the project crew are freelance and jump from project to project, I can potentially spread the word through them. I can also try to pitch it to any of the proprietary accounting services in my industry as an addon to their services. I'm curious on your thoughts on this. I tried to be as specific as possible without giving away my industry but I can PM that to you and I think it'll make more sense.

 

[mikekob]

Hell yes.

 

[jarecki]

Hey alexanderkjones, I've got an idea for a dropshipping automation SaaS for retailers. I'll repost some content of e-mail I've just sent to MJ.

I'm starting to build a SaaS automation product for drop ship e-commerce and I've found some competition. It's good I think, people want to pay for that kind of service.

There are about 7 players to handle:
* 2 of them doesn't target drop shipping, though they provide a service of drop shipping automation but it's not their goal to sell this one only
* 2-3 of them may be a competition
* but one of them is totally outstanding - guy spent 2 years on his own drop shipping e-commerce, built a product that suits himself (just like in Re-work by 37signals), has picked partners that bring together 80% of paying market and purely wants to deliver the most quality product on the market;
Though he has his own disadvantages, his copy isn't perfect, his pricing's elevated (more than average, but I think it's well-played) and it's strictly a one man show.

But I consider him a threat, because I can smell the process right here.

Though it's a one man show, he's dangerous because he was able to outstand in quality most of the competition.

Is he worth competing? If he is, how to beat him?

 

[damiandabcom]

Hi alexanderkjones,

I'm wordpress website builder and after spending many days and hours fixing compatibility issues between wordpress plugins and themes, looking for the best theme frameworks and marketing plugins in wordpress jungle, I was in search for an easy solution to create a website or blog with pre-configured marketing features, social media tools and integrated email service.

I created a web application I called fruittree - http://getfruittree.com, it's wordpress multisite based platform with pre-configured website with marketing features and autoresponder system. I'm using ready solutions of best(in my opinion) theme and plugins providers, I took me many months of testing to find only good plugins and configure all them together. It was not easy as I'm only designer, coder and project manager in one person in our 2 persons startup.

With this application you can create in seconds a ready wordpress website with clean and responsive design, opt-in boxes, newsletter and autoresponder system connected with third-party transactional email service and many more cool features I installed there also a social networks autoposter that send a post announce up to 24 social platforms.

The idea was to create an app, where the user can fully concentrate on content. After an article is published a newsletter with post announce is automatically created and sent to subscriber list and the post announce is sent to all configured social networks.

You can test fruittree, there is a 14 days trial period and no payment data required.

I'm thinking to create similar web application, but put there more online business and marketing features, extend it about online community with group live chat and a training area with video tutorials.

I'm wondering what do you think about this app and idea to create another one with many more features and the community area.

Regards,
Damian

 

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[Fulfilled]

Is he worth competing? If he is, how to beat him?

Can you do it differently or better than him?

 

[jarecki]

Can you do it differently or better than him?

I can do it differently, but I like his style though.
I can do some of the things better and target the product more precisely or in a different direction. The thing is I think don't have a real edge on him yet.

 

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[RoadTrip]

Currently I am working on something similar to bernieshawn’s solution. Basically it’s a niche specific task manager and small CRM (only client details, no invoicing, etc.) that gives my clients a bird view of all their clients, relationships, tasks, logins and more. The tasks can be defined as recurring and are always related to clients. Functionalities are the following:

• Clients/contacts CRM and possibility to add extra information (client logins, client specials, client services, client questions, etc.)
• Recurring tasks related to clients are automatically created
• Status of task completion
• Option to add on-the-fly tasks and relate/connect them to a client/contact

I am still very much in doubts however. The companies in my niche have a lot of recurring tasks/services that they complete for their clients and the majority (90%) of the companies are still using about 3-4 different Excel sheets for tracking this information. They are using different colors to differentiate in statuses.

My problem is that I am not sure if the pain is big enough. I have talked to about 50-60 business owners and the majority is telling me that they are perfectly fine with their current Excel solution. They mention that their biggest complaint is their clients who are not doing what they tell them. The 2-3 owners who said they are really looking for the task management solution keep me motivated however. I also think that a simple to use SaaS product would really help their business as they will be better able to get a hold on their workflows, statuses and ad hoc customer requests and could spend more time on for example advising their customers.

Your post is exactly what I am looking for at this moment. I am really hoping that you can give me some advice on the following doubts:

1. What do you think of the idea?
2. Do you think the pain is big enough just by the fact that so many companies are still using multiple Excel sheets even though they mention they are perfectly fine?
3. Should I keep focusing on this niche or move on to another niche?

Since I live in a smaller country there are about 17k business in my niche.

 

[Steve Corcoran]

I have always wanted to build a hotel booking software. The market is huge and there are already 30+ players.

Problems Currently:
Half of them are old as hell
A lot are made for big hotels of 50+ rooms with matching price tag
Some of them are quite expensive (the good ones)
A lot are built wrong and cant be changed to provide things hotels need without rewriting the whole software (obsolete i guess) Some of the new providers have programmed their system like this and have talked with them personally about the shortcommings of their saas solution and they said they cant/wont fix it.

Cost of making a cloud booking system from a company is around 200-300k dollars, it cant be made with freelancers. Each customer would be worth 50-100 dollars a month depending on size and services they need.

To get 1 million turnover I would need 14k customers. $75 avg

What you think?

I know absolutely nothing about the hotel booking industry fyi. But is this a service for the hotel or customers looking to book with a hotel?

 

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[tafy]

I know absolutely nothing about the hotel booking industry fyi. But is this a service for the hotel or customers looking to book with a hotel?

Service for the hotel, they load in their inventory (rooms), pictures, rates, special offers etc

Then the software updates all the various websites with the available rooms and prices and takes any booking that they produce, and updates the availability. theres more to it but this is the main use.