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I'm getting more involved with venture building. As such, I'm seeing more deal flow which shows me where most people are making the biggest mistakes. Thus far, the biggest one is building before you sell. 9 times out of 10 if you build before you sell then you won't be able to sell that product. How to build a profitable AI driven B2B SaaS for less than $750 - https://nxtstep.io/b2bsaasEpisode Transcript Hey folks, Sean here, and in this episode I want to talk to you about, again, what I think is the most important thing you can do as a B2B SaaS founder to increase your odds of success. And that's to please sell before you build. So I'm getting involved with venture building now, and that means I'm looking for folks who have ideas that they may want to pursue and turn into a successful B2B SaaS business.As such, I'm seeing more volume of what folks are working on and that's giving me greater insight into the patterns of what's preventing people from being successful. Now, having been down this road myself before, as in having been someone who's built before they sold, and that product, and ultimately the business inevitably failed.I've lived this experience. I write about it all the time. I have an email course that walks you through. Precisely how to do this if you're unsure, but by far the biggest thing that you can do to increase your odds of success if you wanna compete in the B2B SAS world is to sell before you build. Let me talk a little bit about why building is very expensive, both capital wise, as in how much money it's going to take and how much budget you'll need to invest.And time-wise, how long it's gonna take for you to ultimately build whatever the first version of your product is. More importantly, if you build in the wrong direction, most of what most or all of what you've built may be useless because you might be building something you can't sell. Think of it this way.Let's say you already have a product and you're considering whether or not to build feature A or feature B. Now, if you go to the customers that you have or prospects or whomever, and you say, Which of these two features would you be willing to pay for? And if they said they would not pay for feature A, but they would pay for feature B, which one would you build?Right. It becomes painfully obvious. I. You would never build feature A because you know you can't sell it, right? It's the same concept, but it's applied to your entire product and ultimately what becomes your business. So if you aren't doing this, you are dramatically increasing your odds of failure, and that is one of the major reasons that I believe the startup failure rate to be so high.So the best thing that you can do to avoid that trap altogether is start selling whatever it is you want to build. Like you've already built it, you do not need the product in order to build it. And I'll walk you through a ton of examples about how to do this, some in great detail in an email course that I created, which is tagged onto the end of these episodes in terms of where you can go to sign up.But that said, my website. Next step IO slash B2B SaaS. I walk you through. Just how to consider selling whatever it is you're thinking about building or validating the idea you want to chase before you go down that long. Expensive, time consuming road of actually building something. So if anyone, now just to give you an imp, an idea in terms of what I'm seeing from a venture building perspective, cuz I'm looking for more folks to partner with to help them achieve success in this world.If someone comes to me and they've already built something that they have no validation criteria for, I 99% of the time already know they've made a major mistake. Because of everything that I've talked about in this episode. So hopefully I can get to more folks before they decide to build because it will.It has major implications for the potential for your product and ultimately your ability to turn that into a business.
Free Email CourseHow to Build a Profitable AI-Powered B2B SaaS Business for Less Than $750 - https://nxtstep.io/b2bsaasConnect with SeanSubscribe to my YouTube Channel - https://www.youtube.com/@nxtstepseanConnect with me on LinkedIn - https://www.linkedin.com/in/sean-boyce/Notes generated by Podcast Show Notes (podcastshownotes.ai)