Did you know that 90% of SaaS startups fail within the first 3 years?
In the latest episode of “The Spotlight Series – Don’t Just Survive, Thrive”, Nicola Steel speaks to Stewart Marshall about the reason behind this extremely high failure rate.
Stewart AKA “Mr SaaS” is a Commercial Software Strategist and bestselling author. He describes SaaS as the modern gold rush however many SaaS companies waste vast sums of money which leads to failure. He believes that there are several reasons including:
· Not being properly organised in their software development practices
· Making software that no-one actually wants!
· Targeting very saturated markets leading to low grade customers & high churn rates.
Stewart helps companies to get focused by getting the basics right. He uses a 4 point methodology to help SaaS companies scale.
Nicola and Stewart talk about the importance of software “as a SERVICE”! The software needs to solve a genuine problem! One way to overcome this is for software developers to spend more time with customers to really understand their needs.