Wow, this week has been insane. Last week–and early this week–the market was
How do you maximize your chances of building an enduring, highly profitable software business?
Being hyper-focused, solving a problem, then taking your time to refine the solution is the key to creating profitable, long-lasting software businesses.
Prematurely scaling, then going back and refactoring your product is very painful.
Feature clarity and cash efficiency is really what matters when you scale a business.
As you create customer loyalty, you create customer expansion in the customer base.
You have to generate cash from customers. For Sagenine, raising venture capital is not something we want to do. Bootstrapping and building a profitable business is the end goal.
To generate enough monthly cash, one needs to solve real problems for customers. Fundamental business problems. And, your product needs to get better the more it's used.
It's a long journey. But, you must go slow, to go fast.
Go Slow to Go Fast
What does that even mean?
... It means getting the software and internal operations fundamentally correct before stepping on the gas.
When I look at the competitive landscape for field service management software there are a lot of companies spending an s-load of $$ on advertising.
While spending a ton of money is fine to generate traffic and (hopefully) new sign-ups, I think the majority of these software businesses are flawed.
I have signed up, taken personalized demos and kicked the tires.
I'm not impressed.
The majority of field service software companies have product and feature offerings that seem very "glued" together. Nothing seems to fit.
Their software works, but not like Sagenine.
The Battle to Get Better
It's a constant battle to get better at anything (especially software). But that's the key.
We could have created Sagenine in X technology, but we chose Y because it's the better decision for efficient software moving forward.
Our decisions have allowed us to create more with less bodies and less code.
I think a major key to success is to be an infinite learner who wants to keep going. Pressing forward, learning new things.