Month: November 2018

Building a SaaS Product from scrach

Here is how to build a SaaS product from scratch

With a lot of buzz around SaaS (Software as a Service) Products, over a dozen products come to the market every day. Now if you wonder how you can shine in the SaaS regimen, here are some basics that will get you started on how to build a SaaS product right from scratch.

1. Find your niche

Choose a problem that you overcame or you haven’t overcome. Question yourself if there are others like you who have come across the same problem? Are you passionate about solving the problem? The desire has to be amply enough to push you 24 hours a day, 7 days week for at least two years with the perseverance to drive through many barriers. “37 Signals” was looking to manage all their internal projects under one place. They couldn’t find the right platform, hence they build their own tool and called it “Basecamp“. Today its used by over 100,000 customers.

2. Look for competitors

It might not be just you looking for a solution. There could be others who are or have solved the problem. In that niche, research all the foremost companies, their product, customer segment and figure out what existing companies are ignoring. Those are your opportunities for you to disrupt them.
Not everyone needs a Salesforce CRM. They are expensive, difficult to maintain and could only be afforded by Enterprises. Hence came HubSpot, FreshSales, Zoho etc. Each one has its own niche.

3. Look for customers

Figure out the pain points that the customers are facing with the existing products. Go to their support portal and see what their customers are whining about. Find a new use-case that would excite the customers. Focus on that very thing. That should be your entry strategy into the market, and that should be powerful enough.
Don’t assume that Microsoft or Google is the solution to all problem. There is no one size fits all.

4. Validate your Idea

Validate your product approach with at least 30-40 potential users and figure out how to influence them what would they get out of it. It’s not only about what you can offer your customer, but it’s also about why should they use your product.
The notion that someone will steal your idea is naive. You are the only one who can build your company. Share it with others, get more feedback in the early stage.

5. Get to work

Once you have the market insight, start working on it. Remember “there is no better time than NOW“. You don’t need the best equipment or the best talent or the best workplace or lots of investors to get started. Most successful entrepreneurs started from their garage, closet or a basement. You don’t need a lot of money or resources to start your business, you just need perseverance.
Salman Khan, the found of Khan Academy started recording video tutorials from a small walk-in closet using a blackboard and a mobile camera.

6. Build an MVP

Don’t try to build a world-class product. Instead, build a minimum viable product (MVP). Improve the product over time and keep improving. Build a SaaS product that is working as expected instead of trying to get every feature in the first release. Target the early adopters, they are hungry for new products and innovations. You will get genuine feedback from them.
Facebook was a social tool used by college students. Initially, it just had 40 users. As of today, FB has over 2.7 Billion active users.

7. Measure

With each release, test what works and what doesn’t work. A measure is a statistical analysis of your product. How many returning users do you have? how many new acquisitions have you had in the past week? What features is your customer complaining about? What features the customers like the most?

8. Learn

As time passes by more customers leave feedback. And that is your learning opportunity Improve your product using the Learn-Build-Measure loop.Get closer to the customer and that is how you learn.

Zappos customer service never goes thru a phone tree. There is always a human who picks up the call and answers the customers. Their representatives dont have a script to ready. They are offered the authority to talk to customers as they like.

9. Be Lean

Most entrepreneurs make this mistake, once they see a flow of cash and customer growth they doubling down on the team, recruitment and think that their overall growth will double. NO. The company “37 Signals” operate with only 54 employees and their annual revenue is over $78 Million as of 2018. Keep your team and expenses lean.

Your goal must not be to create a product, Create a Brand that has a sense of purpose

President Obama during his speech

#WhoIsYourRoleModel: 44th President of United States, President Obama.

This is the first edition of #WhoIsYourRoleModel and today we are covering President Obama, 44th President of the United States.

Story

Born to a Kenyan Black father and an American white mother on August 4th, 1961, Barack Obama had a tough childhood. As a toddler, he moved to Indonesia and was sent back to the United States in 1951, when he was 10 years old. He suffered a social stigma, born to a black father, spending his childhood in Indonesia, then raised by his maternal grandparents, one could just imagine how that must have been. In his words on how he felt to be an African American student during his high school sends a chill into our nerves today

“I went into the bathroom and stood in front of the mirror with all my senses and limbs seemingly intact, looking as I had always looked, and wondered if something was wrong with me.”

Despite coming from a multiracial background, he broke grounds wherever he went and in whatever he did. In 1988, Obama was the first African-American president of the Harvard Law Review. He won a Grammy Award for Best Spoken Word Album for the audio-book edition of his best-selling book ‘Dreams from My Father’ in 2006 and later the first African-American to become the president of united states. He also became the first president to voice support for same-sex marriage in May 2012

 

“Change will not come if we wait for some other person or some other time. We are the ones we’ve been waiting for. We are the change that we seek.”

Social Behavior

Social behavior is a key to anyone’s success, irrespective of who they are. Successful people tend to adopt a behavioral pattern that suits their personal brand and stick to the pattern for the rest of their lives. In this section, I will share the research on some of the key social traits of famous personalities.

  1. Personality Traits
  2. Personality Type
  3. Body Language
  4. Communication & Vocabulary

Personality Traits

The distinctive personality traits of Barack Obama are integrity, respect, fairness, citizenship, caring, confidence, and mindful decision-making. value of discipline  calm and thoughtful eye toward long-term outcomes  self-control to pay attention

Personality Type (MBTI)

Myers-Briggs Type Indicator test shows the psychological preference of a person. I believe that Obama falls under ENTP. ENTPs like to think big, for instance, “Obamacare” that had a huge vision. They also approach challenging with global problem-solving methodologies. You could relate to his entire campaign message that was based on “hope” and “change”.

Body Language

The science behind body language is vast. Using certain proven techniques, human behaviors can tell tales about a person without any verbal interaction. During his speeches, Obama uses the thumb and index finger to emphasize important points, uses gestures like a wave of the hand to illustrate a spectrum of a time-span. These gestures sync very clearly with his verbal communications making the dialog real, authentic and trustworthy. This way of speaking connects with the people around who seek you.
President Obama smiles just enough, you can observe that all the time. He does not smile when he delivers his speech. This instates that his message is very important, so smiling would not be appropriate in this case.
If you observe his body moment closely, he does only when it’s absolutely necessary. While delivering a speech, he seldom moves in the podium. However while interacting with his fans or subordinates, he makes bold and powerful gestures.

What is your takeaway?
By carefully using the right gestures can make you look charismatic and lively to your audience. It can also make your verbal communication easier to reach your audience. Over Smiling can sometimes be seen as a sign of submission. Laughing loud can make you look aggressive. Leaders don’t over smile. Of course, it’s okay to smile every once in a while so that you don’t look cold. Beware of your body moments. Your audience can figure out if you are overacting or anxious by looking at your body moments. Keeping your moments in check and being casual will help others focus on your presentation rather than a distraction.

Communication & Vocabulary

Have you observed the clarity in Obama’s speech? He comes prepared with the message that he wants to convey to the public. His clarity of speech makes him appear confident, authentic, and credible. Obama makes great use of pauses. He lets his point sink in and to give others the time to consider what he is trying to convey. “Win the future”, “Greater together” “Shared sacrifice” “Make no mistake” “Let me be clear” are some of his favorites frequently used phrases. These phrases are all positive and strong and bold. He also leverages the power of storytelling to inspire people. Using stories as an anecdote deepens the messages someone is trying to spread.

Interested in Obama’s Vocabulary and most used words? Read More

Your Takeaway
Prepare well, Clarity & Context is the key. Try saying your messages with a story, that will have a deeper impact on our audience.

Fashion

President Obama always wears the same gray or blue suit. When asked about his fashion traits here is what he had to say.
“You’ll see I wear only gray or blue suits, I’m trying to pare down decisions. I don’t want to make decisions about what I’m eating or wearing. Because I have too many other decisions to make.”

Your Takeaway

Make fewer decisions on things that don’t matter. Spend more time on what matters.

Activity & Sport

Former President is a regular basketball player. He hits his personal gym for about an hour every day–doing weights and cardio on alternate days. He’s scheduled for the day begins as early as 7 AM.

Financial Background

Obama is a member of various corporate boards, has written books and paid salary during his presidency. Per Fortune Magazine, OBAMA MADE $20.5M Between 2005 AND 2016

  • 130k Corporate Boards.
  • $3.1M President’s Salary.
  • $610K Senate Salary.
  • $760K University of Chicago Hospital.
  • $250K Miscellaneous.
  • $6.8M from the book Dreams from my father.
  • $8.8M from the book Audacity Of Home & Of Thee I Sing”: A letter to my daughters.

Timeline

    • The President
      2008-2014
      On November 4, 2008, Barack Obama defeated Republican presidential nominee John McCain to become the first african-american President of the United States.On November 6, 2012, Obama won a second four-year term as president
      • The Senate
        2002-2008
        He lost a democratic primary in 2000, but won the US senate in 2004 and was swon into office on Jan 2005. In 2007 he announced his run for Presidency.

      • Marriage, Family & Poltics
        1992-1998
        Obama and Michelle got married on October 3, 1992. They moved to Kenwood, on Chicago’s South Side, and welcomed two daughters Malia and Sasha. He ran as a Democrat and won election for a seat in the Illinois State Senate in 1996. This registered his first poltical victory.

      • The Graduation
        1980-1988
        Obama graduated in 1983 with a degree in political science. After working in the business sector for two years, Obama moved to Chicago in 1985 where he entered Harvard Law School in 1988.

      • The Begining
        August 1961
        Born in Honolulu on Aug 4th 1961 to Ann Dunham & Barack Obama Sr
What leader should I analyze next?
Do you have a leader you want me to analyze? Whether it’s a world leader or a fictional leader if you leave their name and a link to a video in the comments I’ll consider writing a blog post on him or her!