How to Build a SaaS Business – Ultimate Web Resource Guide (Part 2)

Things start to get interesting now – it’s time to come up with a profitable SaaS idea. [If you found this blog post by accident, please start here. Do you want to check out part 3 (“Validate & Build Your SaaS Product”) of this blog post series? No problem, please subscribe to our newsletter, and you will get informed about brand new blog posts.]

After having worked through the first step of this web resource guide, you are prepared to start your SaaS journey. Because by now, you answered all the key questions which lay the groundwork for your future SaaS business.

So back to the initial question: How do you find profitable SaaS business ideas?

If you start to analyze successful software founders and their business ideas, there is one clear lesson:

Good SaaS ideas are no coincidence. On the contrary, they all share the same characteristics. They revolve around the same core concepts, like focusing on problems instead of solutions, finding a clear target market, and experimentation & iteration. Besides that, most good SaaS ideas had similar beginnings. They have been discovered – knowingly or unknowingly – by applying the same narrow set of methods.

What does this mean for you?

Put simply, you can reverse engineer your own profitable business ideas by applying the same concepts and methods of successful SaaS founders. And this already summarizes the goal of this blog post: Enabling you to come up with great SaaS ideas. To achieve this, you will be provided with the most useful information around the web, from which you can choose from, according to your individual interests and strengths.

Basics of Finding a Good Business Idea

In its essence, a SaaS business is still a business. So if you try to come up with profitable SaaS ideas, there are classic business principles which have to be applied. The following web resources summarize the most essential aspects of successful business ideas. Invest these 60 minutes, and find out why most entrepreneurs are doomed to fail before they even start:

Scratch Your Own Itch

What do Baremetrics, Basecamp, and Buffer have in common (besides starting with a “B”)? All of these SaaS apps have been developed because of the same reason: The founders experienced a problem in their daily lives, and they solved it by building software. This is what “Scratch your own itch” is all about. Learn how to apply this method by reading the following web resources:

The Market-Driven Approach

Apart from “Scratching your own itch”, the market-driven approach is the most popular method for finding profitable (SaaS) ideas. It’s easily explained: Find a lucrative market, identify a big pain/problem within that market, and solve it. By following this approach, you don’t rely on luck, but on a very scientific and efficient procedure. The following web resources illustrate the market-driven approach in much more detail:

Other Great Ways to Find (SaaS) Ideas

There are many more methods to find software ideas. Browse the following web resources and find out which approach suits you the most:

Checklists for Good SaaS-Ideas

Ok, so you came up with one, or maybe even several promising SaaS ideas. What’s the next step? Start to build the software? Totally wrong! Before you go any further, you have to analyze your idea in regard to practicability, potential, and risk. To achieve this, work through these checklists and assess your business idea: