Many SaaS companies that sell to SMBs take while to get to 100%+ NRR Many like Toast, HubSpot, etc. didn't hit it until IPO You start with the smallest customers, You start with a simple product, You start with easy Then you learn how to make it even stickier + higher value
Why is this challenge specific to companies that sell to SMBs?
Embedding payments makes SaaS stickier in SMB
Love this
and with millions upon millions of SMBs out there, the ability to tinker and optimize while you get there is much more realistic compared to going after the F500....um, there's only 500. Hard to get statistically significant test results when your market is wee small.
100% Big fishes can be indigistible at the begining
Yep 👍
This approach makes it so much easier. I love Rob Snyder's approach to accelerating towards Product Market Fit in respect to this. Replicate the perfect case-study. Aligns everyone in the company from the start Helps you focus on what matters and what's remarkable.
The Startup CEO Coach | I help startup CEOs grow all the way to a massive exit | Host of The Startup CEO Show podcast
5moA super powerful path I have seen to get there is to add payments on top of SaaS: This is what we did at Shopify and FreshBooks. In both cases, the payment business is now bigger than the SaaS. Payments makes the SaaS stickier.