Everyone has to admit coming up with new ideas is hard. And there is no way to find new ideas in an instant. How to come up with new SaaS ideas is a topic that perplexes everyone. Well, what anyone will ever tell you is when the wind stands fair and the night is perfect when you least expect it, but always when you need it the most, there is a song…
Wait! That’s not how you get a new idea. That’s a line from Doctor Who.
However, there are some ways to find new SaaS ideas. In this article, we will focus on how you can create a new SaaS product that will be successful – at least in its own regard. So, if you are one of those people who really wonder how to come up with new SaaS ideas, stick with this post.
What Exactly is a SaaS?
Software as a Service – or better known as SaaS – is a business model in which software is delivered and licensed on a subscription basis by a central hoster. In other words, it is software designed for companies and people to use. One of its main characteristics is that it is an on-demand application in which users do not have to install any programs or software necessarily.
Why You Might Want to Start a SaaS Business
Of course, monetary reasons come first with regards to this question. In a recent post, Gartner forecasted that SaaS, as a business type, will reach $126 billion in 2021. It is growing rapidly, and if you have the right idea, you can get the slice from the pie.
Another point is that learning never stops in SaaS. There is always room for development, learning, etc. As you spend more time in the SaaS industry, your knowledge of the industry and people will help set new goals.
So, in short, SaaS is a great industry that can pay you well and keeps you updated regularly. Those two things are the reasons why starting a SaaS business is advantageous for you and your development.
5 Methods to Come Up with New SaaS Ideas that will Work
Now, you might start to wonder how you can come up with an idea. There are multiple ways to do so. Here are some methods to come up with a SaaS business idea.
1- Follow the Trends
Across all of the industries, there are always trends. Following these trends will result in your favor if you can build on a trend and bring out a solution with regards to the problems that trend has.
For example, you can check out social media platforms to see some trends. Twitter, for example, would be a great place to find a trend due to the trend topic system it points out. Also, LinkedIn is another way of finding the trends in the business.
2- Identify and Solve Common Pain Points
The good thing about starting a SaaS business is that you don’t have to come up with the idea that nobody has ever thought of before. You can design a SaaS to enhance the current situation of an app or software.
The best practice of doing so is to visit the internet sites and read the reviews. Let’s just say you aim to design a mobile SaaS. You can go to App Store or Google Play Store to see how people react to the apps. By sorting the reviews on 1 star, you can see the problems people are facing. Then, you can come up with a solution to these problems either as a third-party integration or as a completely new app.
Or you can just visit any review site such as Capterra to see what common problems of any given software are, then come up with the solutions.
3- Use Your Expertise
Sometimes, you can focus on the outside world too much. However, you might already have the answers to your questions. You just have to look inward.
Your expertise is a great example of this. As a person who has worked before, you can identify the problems within your industry. Just ask yourself, “What is the biggest problem I face while I am/was working?”. If used correctly, your expertise will help you immensely.
4- Start a Micro-SaaS
Nobody expects you to go big and compete with well-established brands of the industry. Instead, you can start a micro-SaaS to solve a niche industry problem and a smaller group of people. Of course, finding a micro-SaaS idea is a different process altogether. But don’t worry, recently we posted a guide on how to do so. It sure is worth checking out.
5- Don’t Think about a SaaS Idea
It is somewhat counter-intuitive to say that in such a blog post. However, everyone has a misconception and almost a fallacy when trying to come up with a new SaaS idea. You should not think about coming up with a SaaS idea.
It does not seem like a method, but it is only beneficial to mention this. The only thing you are obliged to do is to find and solve problems. If you focus on coming up with a SaaS idea that will blow up and be the number one in the industry, highly likely you will not find that idea.
Instead, it would be best if you focused on the problems. Every industry has problems. Your job is to identify them and come up with solutions to the problems you see. Then, and only then, you can find a SaaS idea and start your business. This way, you will not put pressure on yourself to come up with an idea; instead, you will channel your energy to do research.
These four methods and one quite significant point will be your companions throughout your journey. If you follow them, eventually, you will come up with the idea that you might see as fruitful, and you will be able to make big profits.
5 SaaS Examples for Inspiration
Now, it is time to see how other people have managed to find problems and solve them in order to excel in the SaaS industry.
Maybe one of the most successful SaaS, Slack is the first example in our hands. Slack is a cloud-based communication tool that enables employees to communicate, share files, and create specific channels for the topics at hand.
Slack is one of the most used SaaS in our times. The team behind it saw the communication problem of the companies and found a solution to it. And it especially helped companies during the pandemic. It has many integrations to it, and the user interface is simple yet effective.
Up next, we have Google Drive. One of the most used storage-oriented SaaS in the industry. It is not only used by companies but also by people all around the world. You can upload and create almost anything with the help of Google Drive. You can share your files with a number of people just with a couple of clicks. It set the standard for the storage SaaSs.
Zoom became an indispensable part of our lives during the quarantine. Many businesses, schools, and people started to use Zoom as their main way of coming together. As of writing this blog post, everyone in the world knows Zoom.
Essentially, you can arrange online conferences, webinars, and meetings with anyone in the world. Its features make Zoom excel in the video calling SaaS. You can share your screen, control the sharer’s screen, and write on their screen. They instantly became everyone’s go-to option.
One of the most prominent actors in the e-commerce industry, Shopify lets its users create online shops and start selling their products. On Shopify, you can start your business from scratch. You can design your storefront, check your order tracking. It also offers you different payment methods and multi-platform management of your shops.
As our final example, we have DocuSign. Digitalization brought us important documents as in pdf or doc formats. Generally, a person prints, signs, scans, and sends back the documents. DocuSign saw this problem and became the digital signing SaaS that enables everyone to sign applications, legal documents, etc., on the run. Thanks to DocuSign, you can save time, energy, and trees while dealing with other companies.
So, that’s it! This is the evergreen guide to find new SaaS ideas. The methods and the examples given in this blog post are valid even for the 35th century. You just have to focus on the mere fact that there will always be problems and solutions.
Software as a Service will be around as long as there are businesses, trends, and people. If you can come up with a solution that solves the problems of certain masses, your SaaS will be a successful one. You just have to use these methods and understand the examples we give you.
Frequently Asked Questions
How can I get a SaaS idea?
The best way to get a SaaS idea is to find problems in any given industry. By finding problems and coming up with solutions to those problems, you can get a SaaS idea that can become successful in the long run.
How much does it cost to start a SaaS company?
According to Forbes, $6000 is adequate for the initial phases of starting a SaaS company. However, it can vary between $50.000 and $500.000 based on how big of a project you are dealing with. Giving the exact numbers is quite hard in this context.
Which business model is the best in the future?
Software as a Service – or SaaS – is projected to be one of the best business models in the future. Due to the ever growing popularity of the SaaS business model, Gartner predicts that SaaS will become an industry that worths $136 billion in 2022.