My takeaways: here’s how your advisors/peers/friends/potential investors can help you vet your new business idea (and this works for many businesses, not just SaaS):
• Challenge you if you have the right DNA on the team, or at least know how to get it. SaaS benefits from experience. It’s good for Old People.
• Challenge you if you really understand your go-to-market plan. Even if you can build it, can you actually sell it? If not, even best case, you’ll probably run out of time/money.
• Challenge you if you have the proper commitment to SaaS. It’s a 72-month slog. Are you really up for it? Really?
• Challenge you if you really understand your market. Is it really ripe for change? Is your product really 10x better? Can you really change behavior vs. the entrenched players? Even if you do all this, are you in an attractive enough segment ever to have a liquidity event?
• Challenge you if your capital plan makes any sense.