When you want to set up your own SaaS business you are going to need a lot of support. This can come from friends, family or community activity online. Websites, whether interactive or not, can be a very beneficial way of gaining support. They contain a lot of useful information and some sites can enable you to have a better start with your new business venture.
The role of the Chief Financial Officer (CFO) has changed considerably over the past decade. No longer are they just the accountant of the business. Their responsibilities are greater and this is in no small part due to the new business models, like subscription businesses, that have gained in popularity and in the way technology has changed how business is done.
Subscription billing is the new business model that is taking the world by storm. Numerous industries are switching from traditional pay-per-use to a subscription business model. For this trend to occur, there has to be a set of major benefits for organisations. So what are these advantages and how could you benefit?
While many businesses would not be able to cope without some form of subscription software helping them to run their SaaS or other subscription billing, there are those that do undertake this task. Often they use forms, sheets, databases and spreadsheets to keep on top of their subscriber lists.
When you are creating a SaaS business, you need direction and a way to measure your success against your expectations. To do so, you need to document expectations or projections. One of the key metrics you should be measuring is the cashflow of your SaaS business. This doesn’t mean just what you are expecting during the year but what the cashflow should be like every single month, week or even day.
When it comes to running a SaaS business, it’s always important to know about the industry in general. Experience is one way to understand the industry; another is to learn about stats and studies that apply to your niche.
Businesses need to set goals if they want to achieve results and your SaaS business is no different. By setting goals you will learn more about your customers, business and yourself as you progress towards becoming a market leader.
One of the best ways to increase the MRR generated by your SaaS business is to sell more products to your existing customers. It is generally considered cheaper and easier to do this. When you have only one product, your software package, this can be a difficult concept for some businesses to consider.
Fusebill is excited to be named to the top 25 Billing and Invoicing apps by Getapp a Gartner company
The lifeblood of your SaaS company is your customers. They pay subscription fees which help keep your organisation running and earn you a living. Losing a customer can be very painful and it is important that you understand why they have unsubscribed from your services. Then you can implement processes to prevent it in the future.