How to Build SaaS MVP Startup?
It’s hard to believe that, just a few decades ago, users had to buy and download software for every possible requirement on their computers. Whatever the need each new program required disk space. And every update to a program was painful. Why? because it required additional space and almost all of your energy when something went wrong. The days of that are over thanks to cloud computing, as well as SaaS MVP Startup.
SaaS Startup tools has transformed our way of working and utilizing software to our advantage. According to recent estimates, the market is predicted to grow to $623 billion in 2023. Let’s see the SaaS views for the near term, and why it’s more beneficial, to begin with, a SaaS Minimum Viable Product and the best way to build a SaaS MVP.
What exactly is a SaaS Startup?
A SaaS Startup platform can be described as a cloud-based service that provides its services to customers via the Internet. As opposed to downloading the application users can access the application using their mobile devices or an internet browser on a desktop.
Let’s take a review of the different kinds of SaaS products and identify the top players in each.
- Software for managing customer relationships (CRM software): HubSpot CRM, SalesForce CRM, SAP;
- Software for Enterprise Resource Planning (ERP software): Oracle ERP, Microsoft;
- CMS (Content Management Systems) (CMS) WordPress, Joomla, WooCommerce;
- Inventory management software: ERPAG, Katana, Zoho Inventory;
- Software for eCommerce: Shopify Plus, BigCommerce;
- Processing payroll: PayPal, Chargify;
- Human resource management software (HRM system): Zoho People, PeopleForce;
- Software for billing or accounting: Xero;
- Software for productivity: Jira, Trello, Asana.
The complete picture of the SaaS MVP Startup
COVID-19 had a negative impact on a variety of small and large businesses. However, recent reports show that the effects of the virus on SaaS businesses were not fatal. Below are some interesting facts about the SaaS market for products:
- 34% of respondents reported an average negative impact from the pandemic on their business;
- 27% of respondents claimed a more negative impact.
- 39% of respondents reported little or negative effects.
What’s next for SaaS MVP Startup?
The SaaS market is expected to be worth $623 billion in 2023. It sounds pretty optimistic, doesn’t it? But there are two aspects to this coin. One is bright, with a faster and more reliable connectivity as well as growth in numbers and even industries. 86% of companies claim they plan to take care of more than 80 percent of their software requirements with SaaS by 2022. So, let’s face it the expansion of SaaS products will not slow down.
The flip side is that the variety of software available resulted in a SaaS chaos that has slowed down businesses. What tool do you pick from a multitude of similar ones? This is when the biggest market players began to consider collaboration possibilities.
For instance, Figma announced new integrations with GitLab to assist teams in managing projects. These collaborations won’t fix the problem of chaos. However, they do show that large companies are aware of this issue and are concerned about the end-users.
The bottom line is that more businesses explore new markets, or develop new ones, so cloud-based services will continue to have an increase in demand. As you can observe, SaaS indeed has changed the business landscape of the world.
Minimum Viable Product for SaaS Startup
SaaS MVP is an early prototype of a cloud-based product. It includes the essential features that are required by this solution. However, an MVP can provide enough value to the end-users.
An MVP development process for SaaS is essential to verify the concept, launch the product quickly, and, most importantly reduce expenses. Once you have created an MVP for the SaaS launch, is it the time to move on to the next steps including design, development, and updates.
How do SaaS startups profit from MVP?
Although it is true that the SaaS domain is currently on the rise and is a booming market, the statistics of successful startups should make us be on our alert. The statistics show that 90 percent of SaaS companies shut down within the first five years regardless of the amount of money. The most common reasons SaaS Startups Fail are: there is no need for a market, they ran out of money, and they are inexperienced teams.
Even if you’ve got a million dollars ideas don’t rush to create a complicated product. Explore the market, initially, and begin developing a SaaS minimum feasible product.
Find out the major advantages for the business of MVPs for SaaS startup companies.
SaaS MVP Startup‘s technical aspects point:
Let’s discuss the technical issues to consider when creating the minimum viable product to use for SaaS. Make sure it is secure for users, scalable to developers, and works for both without any additional.
These tips are beneficial to SaaS MVP Startup:
- Utilize open-source software;
- Think about rapid prototyping using, for instance, Ruby on Rails;
- Get access to databases for free;
- Utilize the solutions available, such as Ruby gems;
- Do not overlook load testing.
How to build a successful SaaS Startup MVP?
There are of course best practices in regards when it comes to developing MVPs. SaaS solutions are not an exception however there are some issues to consider.
Research on competitiveness
Research in the field and market research is always the first step in your business plan. You must know your competition and determine where you could be better than them.
Definition of customer’s requirements and issues
The first users should be your primary focus. However, you think your idea is but if nobody actually uses this tool then it’s just unproductive.
Priority features for the most popular features
There isn’t a universal set of features for a SaaS MVP. Completely. The features you must include in your solution entirely depend on your customers’ needs and their pains. There are two principles that are widely used to help you narrow your options when designing an initial product that is viable:
Pareto Principle or the 80 to 20% rule. In MVP this is the version that includes 20% of all features and is the first version to be developed so you can assess your users’ reactions. In the following steps, you’ll be able to determine the features that your users do not have and will have a clear understanding of the upcoming (or ultimate) Version of the software. This will help you avoid 80percent of the software’s features not being utilized.
The Moscow method is a different method to prioritize your needs. You will be able to reduce the amount of effort and concentrate on carefully the most important features of Your SaaS MVP.
Here can be an illustration of the four categories which include M – Must have I – Need to have, – Could have and W – Wouldn’t have.
Pricing Model Development
Selecting the best monetization strategy to monetize Your SaaS minimally viable service isn’t that simple. So, here are some useful figures based on the market trends for SaaS:
Prototyping and MVP Development
You can now test your concept with a functioning prototype. A prototype is a “draft” while the minimum viable product is one that is full which is ready for sale.
Analysis and feedback gathering
Do not forget the feedback phase. When you have received the first set of feedback congratulations you have already had amazing outcomes! Now, you are able to analyze and determine the next actions.
Factors that affect SaaS MVP Startup Development cost
Each SaaS is different, particularly at the MVP level therefore there is no uniform SaaS MVP cost template for everyone. The price is determined by numerous aspects. Let’s take examine what factors affect the price at which the development will be completed.
The sets of features and their complexity
The more complicated solution you can think of and the greater number of features that you wish to add and the more costly it will cost.
The development team and their expertise level for cloud services MVP.
A team with a wealth of experience with the development of SaaS will provide you with a top-quality service that is within the budget you have set. Utilizing their knowledge, these experts are aware of the issues that you as a SaaS business owner will face, and what they can do to address them, and create an effective cloud-based product.
Therefore, in order to create your MVP, We recommend working with a group that is specialized in the development of SaaS solutions, rather than hiring out staffing companies that specialize in all types of projects. In this way, you’ll be able to cut down on time and money.
Costs for the development of SaaS MVP Startup in various locations
A team of software developers located in Eastern Europe will charge less for the same service than an organization that is based in the USA.
Tech stack you choose
It is also the foundation of your program. It is the foundation of your whole development process. This is why it gets an independent place in the general cost calculation. SaaS development has the ability to overcome a number of technical issues such as performance, scalability security, and speed.
Cloud-based products require a secure infrastructure to handle data properly. Also, you must take into consideration the API development, integration of third-party APIs, and issues with availability. Also, pay special focus on selecting the best hosting provider that you will use for the development of your SaaS solution. Finally, you should learn about the best frameworks to use for SaaS creation.
An MVP can be created for a SaaS company using any framework. Our top three frameworks are Ruby on Rails for the back-end and React.js or Vue.js for the front-end. A lot of well-known SaaS services like Shopify, Slideshare, and Github have picked Rails to build their offerings. What is the reason why Ruby on Rails is so popular?
Rails framework provides developers with free, open-source libraries. They are also known as Ruby gems. With these tools, you can build applications faster and reduce development costs. There are currently greater than 16,77,000 diamonds to choose from a variety of already-designed solutions.
How can Brisk Logic assist you in the development of a SaaS MVP Startup?
Since the year 2002, Brisk Logic has been providing SaaS services for development across the globe. We aid all types of companies to create new solutions or improve existing ones and address potential problems. Our team ensures that the solution provided is secure, unique, and scalable. It also is compatible with other software and tools.
The primary industries that we are focusing on include travel, insurance, finance, auto, and rental of accommodation. Our team is building software-as-a-service platforms of all types based on end-user needs.
We’d like to share one of the most recent projects we’ve delivered to the Australian market . SaaS MVP to facilitate housing search and search services for people who are ex-pats. The idea behind this idea was that it would make moving to Australia quick, easy and easy for those who have discovered an opening.
The primary challenge faced by the customer was to develop a speedy-loading SaaS MVP for the platform for lodging to present the solution to potential investors. The solution required an accurate search engine for accommodation, as well as time-bound deadlines.
The Brisk Logic team tackled the business issues and created an operational minimum feasible product that could be used for SaaS. We offered UI/UX design Front-end, Back-end as well as MVP design and development. We offered a specialized solution that included personalized pop-ups and a search tool that displays the most relevant deals.
With the shift from traditional office work towards remote working, SaaS startups proved their advantages for businesses. Even if you didn’t look into cloud services or cloud-based MVP earlier it’s now the time to shift in this direction.
The good news is that you don’t need to develop an end-to-end product immediately. Instead, the most effective practice in business has shown that it’s best to begin building SaaS basic viable products initially.
If you’re looking for an experienced SaaS development firm with an extensive background in technology take a look at Brisk Logic. We have the experience and know-how to develop a SaaS Startup MVP in time and within budget.
We invite you to contact us to assist you in providing an efficient and secure solution that your customers and other stakeholders will appreciate.