The ex-engineer in TK is all about the product, but he’s learned over time, you actually shouldn’t start there. See, principle one is to focus on the market first. As in, Who actually needs this? What problem are you solving? How big is that market?
Of course, TK really focuses on the quality and function of the product since he’s a former engineer. The thing is that over the years, he’s realized that the quality of the software isn’t where you should start. The 1st rule is to concentrate on the customer.
Who needs this, in other words?
What issues are you attempting to fix?
How big is the market that you want to tap into?
How much do you actually know about this marketplace?
According to TK, you’re certainly trying to solve a pressing issue. You need to be an expert in that field. You need to do your homework and see if you’ll have any competition and how strong that competition is. If you can’t find any competitors, or if there’s only a few, it’s likely that you won’t be able to land many customers.
The 2nd thing you should do is to find out your product after you’ve addressed the consumer. There’s a wide gamut you should consider. On the one hand, there’s the MVP (minimum viable product). On the other hand, you have everything but the kitchen sink.
When you examine a consumer base, you want to be somewhere in the middle, according to TK. Because it won’t be engaging if it isn’t very far along. However, if you dream big, you run the risk of falling into the “let’s add just one more feature” rut and never finishing the project.
Number 3, of course, is breaking into the market. So, it’s all about sales and marketing, correct? How the heck do you persuade customers to buy the software you’re selling? Well, you should actually start by building your customer base from the beginning. It doesn’t matter if you use your own website or social media (YouTube, Instagram, Twitter or TikTok).
Get in front of the eyes of the customers you identified in principle one. Collect their email addresses and add them to your mailing list. As you develop the software, get them feedback. Allow them to tell you what your true value proposition is.
“The best value propositions come from how your prospects describe it, and they put it in their own words,” TK explains. “So they’re gonna help you develop your product, make sure it’s a fit with the market, and out of that, you’re gonna get pilots, meaning people will prepay for the product so they can actually pilot it.
Or you get beta users, they use it and you get real feedback. Doing this from day zero will de-risk you from building the wrong product.”
“It’ll ensure that you’re actually amassing a group of people that are in the market you’re targeting and you’re validating that you’re building the right product and that the market is real, and that way you’re not wasting any time. There’s no sequencing to this.
And when done right, it’s a full loop where everything gets iterated on, over and over, based on these three pillars that you are doing. And that, if you approach it that way, you will be able to build a successful SaaS company.”
To help you along your way, TK offers three different B2B SaaS coaching programs. Launch is a $2k program for newbies. GTM is for SaaS startups that are in the early stages of development or are on a shoe-string budget. The cost is unclear, and membership is exclusively through application. Scale is for SaaS organizations that have progressed and want to expand massively.
Again, there are no cost details on TK’s website; to join, you must apply. I believe TK is as genuine as they get, and he is certainly capable of teaching this material. So, no worries.
