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Learning the Hard Way: Our First SaaS Mistake and Valuable Insights (alien.top)

submitted 11 months ago by Honest_Guidance6338@alien.top to c/entrepreneur@indiehackers.space

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Way back in 2019, we made this mistake when working on our 1st SaaS.

We picked a source code that we liked on CodeCanyon, with dozens of features. Then, we worked on it for 2–3 months, changing the UI/UX and adding more features based on our own perspectives.

There was no unique value proposition, no validation, no market research, and no audience definition. Only emotions!

Also, a funny fact: we created a company in the UK to be able to use Stripe (not available in our country) as the code source was built on that payment gateway and that was another mistake

It was a SaaS product focused on business management for B2B.

… And guess what?

It didn't work. We didn't even bother to launch it, considering the highly competitive field.

Simply, because we weren't competitive on price, neither on features nor quality.

Fortunately, we did manage to sell it for a few bucks to cover the time and effort we had put into it during those few months.

Lesson: I've never blindly built a single product again, always building with/for the market.

Ship fast, early, and frequently!

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[–] LouGarret76@alien.top 1 points 11 months ago

Knowing what you know, what would you have done differently?