Today, SaaS companies have transformed the way global businesses function at large. Since its evolution, SaaS has transformed from a mere time-sharing system to innovative and efficient applications that can be accessed on multiple computers. The growth of this sector has been accelerated with innovation and new and engaging methods that define how brands interact with their target audience.
According to ‘India SaaS report 2020’ by Bain & Co, Indian SaaS companies are set to reach $18-20 billion in revenue and attract a 7-9% share of the global SaaS market by 2022, as they build new capabilities to drive the next wave of growth. So what is really driving success in these companies, and what is the success mantra. Here are five simple tips to keep in mind to be successful, be it in the SaaS domain or any other sector!
Instincts are always right!
In every business, success and failures are inevitable, but you cannot really move ahead unless you learn from mistakes and avoid making them again. Following your instincts is good when it is difficult to make a decision. If things go well, you can bask in your success, if not then you need to evaluate or figure out what went wrong! For your SaaS business to grow, you need to have love and passion for the product, which is driven by trust in your instincts. Furthermore, learning and moving on is key to your success.
Fear will stop you if you let it. Learn to begin somewhere!
Babies were not born with speaking abilities and neither were plants grown without seeds. There was always a first step involved in reaching the end goals, whether it’s learning to speak, or growing a plant. Similarly, in business, the fear of the first step, should not stop you from taking it. This is a step in the right direction heading towards learning and experimentation and eventually achieving growth.
Acknowledge the mistakes and move forward!
It is very important to learn from your mistakes and avoid repeating them. For example, if you might have annoyed someone and ended up sending the wrong campaign at the wrong time . You can always acknowledge the mistakes, apologize and utilize the learning for the future.
Be yourself. Be confident! Don’t forget to stay grounded!
Over the course of your career in the SaaS domain, you are bound to meet some really intelligent people. These will be inspiring leaders and brilliant minds. At times, it might even get overwhelming with self-doubts starting to bother you. Instead, look for the best qualities in people who’ve done good, and practice them – all, while just being your natural self. Be you! Do you! And keep your feet on the ground!
Learning from the right mentors is important!
Finding the right mentors to learn from during your journey is very important. Find a mentor from among the people you work with, people you have direct access to and someone you know will be honest with you. This would ensure continuous learning and growth. So keeping in mind some simple steps, you can constantly keep yourself motivated to grow and eventually make way to success.
By Forum Sheth, Head of Content, WebEngage