Ever dreamt of launching your own business?
Well, you're not alone. The allure of entrepreneurial freedom has led many individuals down the path of starting their own venture.
For those drawn towards the tech industry, creating a Software as a Service (SaaS) business is an appealing option. But where should you start?
Enter Go High Level - a leading software platform that is primed to aid you in your SaaS journey.
This versatile tool offers a streamlined process and pre-built solutions, allowing you to focus on what really matters - growing your business.
Whether you're disenchanted with your current job, in search of additional income, or fuelled by the passion to create something of your own, this guide will walk you through the process of starting your own SaaS business using Go High Level.
Starting a SaaS business with Go High Level is no different than starting any other business except the product is already created for you.
With Go High Level you don’t need to worry about development, maintenance, or innovation. It is all done for you!
It may look easy as a result but rest assured it is not. But with this post and my help - we can do this!
Let’s break down the steps you need to take.
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First, you will need software to run your business.
Go High Level is the leader of the pack.
This will allow you to have one piece of software vs. multiple cutting down on software costs and gives you the ability to streamline your business.
You also will have the data you need to grow and scale.
Getting your business set up on HighLevel will give you the experience you need to help your subscribers get set up and adopt the platform.
Next up, is selling software as a service.
SaaS has grown in popularity and utility for several years, and this trend shows no sign of stopping in 2023 and beyond.
Why do I think Software as a Service (SaaS) business model is the business of the future?
1. Increasing Cloud Adoption:
As businesses continue to digitalize, there's a growing shift towards cloud-based software solutions.
The cloud allows businesses to operate more efficiently by providing scalable resources and reducing the need for on-premise infrastructure.
2. Recurring Revenue:
SaaS businesses typically operate on a subscription basis, providing a reliable stream of recurring revenue.
This is not only attractive to business owners for financial planning but also to investors who appreciate the predictability of future cash flows.
SaaS solutions are inherently scalable.
Once a software solution is developed, it can be distributed to any number of customers without significant incremental costs.
4. Remote Work Trend:
The rise of remote work due to the COVID-19 pandemic has led to an increased demand for SaaS products that support remote collaboration, productivity, and project management.
This trend is expected to persist beyond 2023.
5. Global Market:
SaaS products can be marketed and sold globally.
As long as customers have an internet connection, they can access the software.
This opens up significant growth opportunities beyond local markets.
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Go High Level Innovation:
The need for ongoing product development and innovation is crucial to your success with SaaS. Go High Level has this covered.
The nature of SaaS allows for continual product improvements.
SaaS platforms are updated swiftly and seamlessly, providing customers with the latest features and improvements.
OK, now that we have WHY you need to start a SaaS business Let’s talk about the steps you need to take to build one.
Many people start this business thinking it is all about the software - getting it all set up and all the features working perfectly before they start.
I see this all the time. They are in the High Level Facebook group complaining about this feature or that feature and they have no clients.
How do I know they have little to no clients?
Because the businesses that are selling High Level - the ones with their boots on the ground are not in there.
They don’t complain about the “look” of High Level, they don’t complain about some obscure problem with a feature that they absolutely need before they can sell.
The successful SaaS business owners are out there selling. Full Stop.
But before you jump into Go High Level with both feet you need to do a few things if you haven’t already.
This is the order I suggest.
It will feel slow, you will want to go faster and skip these steps but I assure you slow is fast!
If you Google how to start a business this comes up as one of the top steps: Conduct market research to understand the viability of your business idea.
Many will overlook or ignore this step. This is a HUGE mistake.
There are a couple of reasons:
You need to go and talk to people about your idea and listen to what they say and the questions they ask so you have an idea of what to sell
This is a way to see if you are ready to build a business. If you find every excuse in the book to not do this you are not going to make it as a business owner.
This research will put you 100 steps in front of your so-called “competition” because you will have a target audience to speak with and work with and you will have all the language and answers to all the questions your people will have.
Many people ask but where do I start?
I suggest talking to people who you have something in common with.
The same school/career
The same city
The same age
The same hobbies
The same passions
The same family history
The same jobs you had
These will set you “directionally” on a good path to start.
Once you begin talking to people you will soon realize you do or you don’t want to work with them.
Once you do some market research you will start to have an idea of who you want to work with.
This brings up the next question…
To niche or not to niche…
Many people struggle around niches.
This quote by Jacob Donnelly the Founder at A Media Operator & Publisher, Morning Brew said: "Niche is the Future of Scale"
I agree 100%.
But many are trying to niche before they have conducted any market research, before they have any idea what they stand for in the marketplace, and before they have even spoken to a single person about their SaaS business.
Only in the doing of the research and talking with other business owners will you find the answers you seek.
In my experience, it will be a bit of a surprise, something you didn’t think about or had kinda shrugged off.
You will find the niche as you get on the road of building a business.
Only a select few have had it right out of the gate and they have had a business before or they have known exactly who they are here to serve.
They are an anomaly. Not the norm.
Go talk to people, tell yourself the truth along the way, and give yourself permission to do what it is you want to do.
After understanding your target market and niche, the next step is to craft a compelling offer.
The purpose of your offer is to showcase the unique benefits and advantages of your SaaS business.
Here’s how to get started:
Identify Key Features: Make a list of the core features of your SaaS product. Prioritize them based on the needs of your target market.
Pricing Strategy: Decide on a pricing model.
What will you offer for your monthly subscription?
Will it be one price, or will you have tiered pricing levels?
Will you have a yearly offer?
Will you offer the software with a service and have the software be a “downgrade” when they are finished with the service?
Will you include service/support?
You need to decide what number you need to have the business and life you want and need not what you think others will pay.
Usually, we underprice ourselves. This is dangerous in the SaaS game because of the support aspect.
You do not want to hate your life in a year.
Remember, the pricing should reflect the value you're providing and be competitive within the market.
Add Value: Think about bonuses or additional services you can bundle. Maybe offer a free trial period, or complementary training sessions for new subscribers.
Clear Messaging: Ensure that your offer is easily understood. Avoid jargon; use clear and straightforward language that speaks directly to the benefits the user will gain.
Speak to the benefits they will receive - not the features of the software.
This is easier said than done. I assure you they don’t really care about the software until you make it the focus.
Feedback Loop: Once you've constructed an offer, get feedback from potential clients or peers. This will give you insight into any adjustments needed.
I am not talking about colors but what you stand for in the marketplace.
Colors are important but until you understand the values and the place your SaaS business has in the marketplace you cannot choose the right colors.
Colors are based on psychology.
What is color psychology? Color psychology is the study of how colors affect perceptions and behaviors.
You need to determine how you want to be perceived in the online space.
Then and only then can you choose the colors associated with those.
This is a great site to learn more about color psychology: https://www.colorpsychology.org/
Don't be surprised if this changes as you get further down the road of your business.
A visual brand is more than just a logo; it’s a cohesive visual identity that communicates your company's mission, values, and differentiators.
Here's how to ensure your brand stands out:
Logo Design: Create a logo that’s simple, memorable, and reflective of your brand identity. It should be scalable and recognizable, even at smaller sizes.
But don’t spend too much time on this! It isn’t as important as you think it is.
Color Palette: Choose colors that resonate with your brand's values and the emotions you want to evoke in your customers. For instance, blue often signifies trust and dependability.
Typography: Choose fonts that align with your brand’s personality. Are you going for a modern, traditional, or quirky look? The fonts should be legible across all devices.
Visual Elements: Icons, illustrations, and graphics should have a consistent design. They should enhance the user's experience and not detract from the content.
Consistency is Key: Whether it's your website, social media profiles, or email campaigns, ensure that your visual elements are consistent. This helps in building brand recognition.
Domain & Social Handles: As you’ve noted, it’s essential to have a .com domain that aligns with your brand name.
You could also choose the .io for the SaaS or another TLD but the .com if you can get it is really important.
Instant Domain Search is a great site to look up domains. Check Domain Search Here
I love to purchase my domains from NameCheap because of the free privacy provided. Join NameCheap Here
Namecheap States: Free Whois protection & private domain registration free lifetime protection for your domain.
Similarly, your social media handles should be consistent across platforms. Tools like Namechk can help ensure availability. Join Namechk Here
STEP 6: CRAFTING A COMPREHENSIVE SAAS BUSINESS PLAN
A business plan outlines your business's goals and how you plan to achieve them.
It typically includes an executive summary, business description, market analysis, organization structure, product line or services, marketing and sales strategy, and financial projections.
But this is a bit too complicated for you as a new business owner.
I would determine your marketing and sales plan and your goals for the next 4 quarters.
Develop a marketing strategy to attract customers. This could involve social media, online advertising, email marketing, or traditional methods like print ads and direct mail.
Your target market is dentists.
Your goal is 10 new dentist clients a month.
You will contact all the dentists in your city first and then move to the surrounding cities
You will contact them via phone and email
You will follow up 7 times
You will know after the first month how many dentists you need to contact to get 10 clients.
This is then your marketing and sales plan.
You can change the reach-out method to Facebook ads, going to networking meetings, attending dentist events, partnering with dental suppliers, or walking right into the dentist's office.
They all work - it is just a matter of will you do the work.
Develop a sales strategy. Once you determine the niche and have spoken to a number of dentists in your market research you will know what problems dentists face and some of the objections to your offer.
Switch out dentists for your niche.
The boring but oh-so-necessary first steps before you get too far down the business path is to get yourself all set up and legal.
You can start as a sole prop and grow into an LLC or you can go straight to a larger structure like an LLC.
This can be a sole proprietorship, partnership, corporation, or limited liability company (LLC). Each structure has different implications for liability, taxes, and record-keeping.
Once you've decided on a business name and structure, register your business with the appropriate government agency.
This typically involves filing documents and paying a fee.
The registered business name does not need to be the same as the domain you chose for your SaaS.
Obtain federal and state tax identification numbers. These are needed for tax purposes and to hire employees.
Open a business bank account to keep your personal and business finances separate. This will make it easier for accounting and tax purposes.
This is one of the best things you can do for your business.
Set up an accounting system to manage your finances. This could be a simple spreadsheet or a sophisticated software program.
Launching a SaaS business with Go High Level can be an exciting and rewarding journey.
By using this powerful tool, you can leverage a pre-built product, enabling you to focus on important aspects like market research, branding, business planning, and legal considerations.
But remember, the journey of entrepreneurship is rarely a straightforward one; it requires resilience, adaptability, and a continuous learning mindset.
So, are you ready to take the plunge?
Are you prepared to carve out your niche, build a resonating brand, and plan for a successful SaaS venture?
The world of SaaS is bursting with opportunities, and with Go High Level, you have a trusted partner to help you navigate it.
Don't wait for the 'perfect' moment; start your SaaS journey today with Go High Level.
Remember, the first step to achieving your dream is to start. So, take that step, and let Go High Level guide you toward your success.
If you found this guide helpful, don't forget to share it with your network.
Leave any questions or thoughts in the comments below, and let's embark on this exciting journey together!
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The SaaS Set Up - fully done for you
Your SaaS Snapshot
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And so much more!
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