While building a great SaaS product is one thing, turning it into a profitable business is another thing. In 2023, we managed to grow featureOS from a product to a business, and we helped thousands and thousands of users interact with the product they use in a whole different way.
I learned a lot of things in 2023, and I wanted to share some of them with you. Here are some of the things I learned from growing featureOS in 2023.
-
Customers first. Always. It sounds like a cliché, but it’s true. All the hardships you are going through is to build a great product. But, you are building a product for your customers. You have to consider customers in every decision you make, and how it can positively impact them with your work.
-
Quality is your competitive advantage. You might be up against a ton of unicorns, but you can still win. Build a product that tops the quality index in your niche, and you will win. It’s that simple. People love paying for quality software, and they will pay you if you build a quality product.
-
Don’t be afraid to charge. Not all the features you build will succeed. Many times, it could fail, and it is not a waste of time. Every failed feature is a learning experience. It costed you dearly, but you can figure out a way to make up for it.
-
Every penny counts. Sometimes when building a SaaS software, you might think that you are earning free money, and you can rest for a while. But, that’s not true. Every penny you earn is a penny you can invest in your business. You can hire more people, you can build more features, and you can grow your business.
-
A players inspire A players. When you hire A players, they inspire other A players to join your team. It’s a virtuous cycle. You hire A players, they inspire other A players to join your team, and you build a great team. It’s that simple.
-
Building insanely great software is not for everyone. It’s hard. It takes a lot of hard work and talent to build insanely great software. Not everyone has it in them to build insanely great software. You can help them, but it shows in the end as they pass through time.
-
Founders, be hands-on. You don’t need to automate everything just because others are doing it. You are not them, and they are not you. You are unique in your own way, and do things that are hands-on for you, and your vision will translate better to your team.
-
Feedback, feedback, and more feedback. Feedback is the lifeblood of your business. You need to get feedback from your customers, and you need to get feedback from your team. You need to get feedback from everyone. Feedback is the lifeblood of your business.
-
You can’t do everything. You need to build a team and trust them at some point to make the right decisions for the product. But always hunt for the A players. You will know in your gut that they fit your vision, your company, and aligns with their vision in life.
-
Celebrate everything. Every win deserves a celebration. Your team deserves it, and they are the ones who make the company what it is today, and what it can be tomorrow.
2024 is a big year for us, as we work to scale the business into a much bigger business. I can’t wait to see what I would learn in 2024. I hope you learned something from this post, and I hope you can apply it to your business.
Building a great product? You need a feedback board for your users, get your free account at featureOS .