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Ideas for saas business

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  • I had started a much longer post but then deleted it as it seemed to end up being more about my story than advice.

    But I guess they most important thing from that is to make sure you have enough savings that you can live for as long as you expect to need before you can start making some money from the project plus an additional 6 months, so you have time to find another (decent) job if you discover your plan doesn't work out.

    If your project turns out to be unsuccessful, don't continue spending more time on it, find another job and work in a regular job again until you have saved up enough money that you can repeat the process. Maybe you can retry your original plan with the knowledge of what went wrong last time, or maybe you've thought of something better by then.

    If you don't have any savings at all, then you're probably going to end up worse off financially than you are now. Statistically, about 95% of new businesses fail in the first year. You might be one of the lucky ones, but a good chunk of the luck is about being in the right place at the right time. You need to have some kind of fallback plan.

    Thanked by 2mustafamw3 Arkas
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