Taking Your SaaS Startup Company towards Success!

As an entrepreneur and a CEO who owns a SaaS startup, you may face certain challenges right from valuation till you begin serving your customers and think of moving on to the next levels. Let us have a look.

1. Valuation

You have to put a value on your startup for raising funds. Likewise, investors must also put a value on the investments they are ready to make. But valuation at the startup stage is more about the growth potential of your company than about its current value in monetary terms. You must seek the help of experts for determining the value of your startup.

2. Pre-money Vs. post money

While pre-money valuation reflects the value of a company prior to receiving external financing, post-money valuation reflects the value after receipt of the finance. Remember, the valuation method you choose will affect your ownership percentage to a huge degree. You must therefore make the right decision.

3. Key metrics

You must know what key metrics you must focus on for succeeding in your business. In fact, any startup must focus on key metrics such as the recurring revenue they expect every month, Churn, cost of acquisition of every campaign, average revenue on per-customer basis and the life-time value. Though most of the metrics are easy to understand, you must know what churn is. Churn helps in measuring monthly percentage of customers who may leave you. Similarly, cost of acquisition of every campaign helps you in tracking the cost involved in getting every customer.

4. CEO’s financial dashboard

You are the CEO of the startup and so, your dashboard should necessarily display all the important KPIs, metrics, as well as the charts so you can make your decisions quickly and efficiently. Of course, professionals can help you in setting up the dashboard.

5. Employing freelancers

Now that your company is up and running, you need the services of efficient employees. But nowadays, it makes good economic sense to employ freelancers than recruiting permanent staff. Using the services of freelance workers provides you with a lot of flexibility. For short-term tasks, you can opt for what is known as the “Gig Economy” and engage the services of independent workers.

6. Setting goals

Your business will succeed only if you set suitable goals. But be certain that your goals are realistic. If you set goals that are unachievable, chances of you getting frustrated and demotivated are high when you are not able to achieve them.

7. Distribution channels

You are now ready to commercialize your software services. But you must now decide how your products should reach your targeted customers. This means you must determine the distribution channels. For making the most appropriate decision, you are advised to consult experts.

In short, with the help of professionals, you can make informed decisions and take your startup towards success.

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