Perhaps you already feel like you have a good handle on the little details of running a SaaS company, like creating a pricing model, onboarding and support procedures, or even just the everyday marketing tasks.
But what about the bigger questions?
What if you're not sure whether you should be expanding to a new market?
What if you're not convinced that your pricing model is sustainable in the long term?
What if you're not sure whether you have the right team in place to scale your business?
These are the kinds of questions that can be tough to answer on your own, but which can have a huge impact on the success of your business.
That's where consultants come in.
Consultants can provide an objective, outside perspective on your business, and help you answer tough questions.
They can also help you plan for the future, and make sure that you're on track to reach your goals.
If you're not sure whether your SaaS company needs a consultant, ask yourself the following 15 questions.
1. Do You Have a Clear Vision for Your Company?
Your company vision is a bit like your north star — it's what you're striving towards, and it guides all your decisions.
Sometimes, this vision can be a little fuzzy, especially in the early stages of a company.
That's where consultants can be helpful. They can help you clarify your vision, and make sure that it's achievable.
For example, let's say that your company's vision is to be the leading provider of online courses.
That might mean expanding into new markets, developing new products, or partnering with other companies.
Or, it might mean focusing on your current market and perfecting your product line.
Having an external perspective can help you make sure that your vision is realistic and achievable. It also helps you figure out the best way to achieve it.
2. Do You Have a Clear Strategy for Achieving Your Vision?
Once you have a vision for your company, you need a strategy for achieving it.
Your strategy should consider your current situation, your resources, and your goals. It should also address the potential risks and challenges that you might face along the way.
Again, consultants can be helpful in developing this strategy. They can help you figure out what's possible, and help you come up with a plan that's tailored to your company.
For example, let's say you want to expand into a new market. Your consultant might help you figure out which markets are the most promising, and how to go about entering them.
If you're not sure whether you have the right team in place to scale your business, your consultant might help you figure out which areas of your business need more support, and how to find the right people to fill those roles.
3. Are You Clear on Your Target Market?
Your target market is the group of people that you're aiming your products and services at.
Figuring out your target market is essential for any business, but it can be especially tricky for SaaS companies.
That's because your target market might change over time, as your product evolves.
For example, let's say you start targeting small businesses. But as your product develops, you realize that it's better suited for larger businesses.
In that case, you need to adjust your marketing and sales strategies to reflect your new target market.
This can be tricky, though.
Without the right information, you might end up targeting the wrong market, or worse, you might not target any market at all.
Bringing in a consultant can help you figure out your target market, and make sure that you're reaching the right people.
4. Do You Have a Well-Defined Pricing Strategy?
Pricing is one of the most difficult aspects of running a business.
It's especially tricky for SaaS companies, because you need to find a balance between making enough money to cover your costs, and making your product affordable for your target market.
There's no magic formula for pricing, but there are a few things you can do to make it more manageable.
- Have a clear understanding of your costs, and how much you need to charge to cover them.
- Think about the value that your product provides. What are your customers willing to pay for it?
- Consider your competition. How do their prices compare to yours?
Once you have a good understanding of all these factors, you can start to play with different pricing models to find the one that works best for your company.
A SaaS consultant with experience in pricing can help you figure all this out, and give you advice on how to price your product competitively.
5. Are You Confident in Your Ability To Scale Your Business?
As your company grows, you need to make sure that you have the systems and processes in place to support that growth.
This can be a challenge, because as your company gets bigger, everything becomes more complex.
You need to make sure that you have the right team in place, that your systems are efficient, and that your customer support is up to par.
All of this can be difficult to manage on your own.
That's where a consultant can come in. They can help you figure out which areas of your business need more support, and how to find the right people to fill those roles.
They can also help you develop a plan for scaling your business, so you can make sure that you're prepared for growth.
6. Do You Have the Right Team in Place To Achieve Your Goals?
Without the right talent, it's impossible to grow your business.
You need people with the right skills and experience to help you achieve your goals.
But finding the right people is only half the battle.
You also need to make sure that you have the right systems and processes in place to support your team.
If you're not confident in your ability to build the right team, or you're not sure how to support them, a consultant can help.
They can help you develop a recruiting strategy, and give you advice on how to create an environment where your team can thrive.
7. Are You Clear on Your Marketing Strategy?
Marketing can be a daunting task.
There are so many different channels to choose from, and it can be difficult to know where to start.
Not to mention, marketing is always changing.
What worked last year might not work today.
To create a successful marketing strategy, you need to have a clear understanding of your target market, and what channels they're using.
You also need to be constantly testing and tweaking your campaigns to make sure that they're effective.
A marketing consultant can help you with all of this.
They can help you develop a strategy that's tailored to your company and your target market.
They can also help you implement and track your campaigns, so you can see what's working and what's not.
8. Do You Have a Process in Place for Onboarding and Supporting Customers?
96% of users say that customer service is a crucial factor in becoming loyal to a given brand.
That's why you need to have a process in place for onboarding and supporting your customers.
This process should include everything from answering customer questions to resolving customer complaints.
It's important to have a process in place so that your team knows how to handle every situation, and so that your customers feel supported.
A SaaS consultant can help you develop this process, and make sure that it's effective.
For example, they can help you create a customer service policy, or develop a system for tracking and responding to customer support requests.
If your current processes are falling short, a consultant can help you spot the problem and come up with a solution.
9. Is Your Sales Process Effective?
Your sales process is the engine that drives your business.
If your sales process is broken, your entire business will suffer.
There are a lot of factors that go into a successful sales process.
You need to have a process for qualifying leads, and a system for closing those deals.
A consultant can help you develop and improve your sales process.
They can help you identify your target market, and find the right channels to reach them. They can also help you qualify leads, and close more deals.
For instance, if you're struggling to close deals, a consultant can help you understand why, and come up with a solution.
If your team can’t generate enough leads, a consultant can help you find the right channels to reach your target market.
And if your process is falling short, a consultant can help you fix the problem.
10. Do You Have a System in Place for Tracking and Reporting Key Metrics?
If you don't track your key metrics, you won't know if your business is succeeding or failing.
You need to track both financial and non-financial metrics, so you can see how your business is performing.
You also need to have a system in place for reporting these metrics.
This system should include everything from weekly reports to annual reports.
A consultant can help you develop this system, and make sure that it's effective.
For example, they can help you choose the right metrics to track, and develop a process for reporting those metrics.
They can also help you spot trends and identify problem areas.
If you're not sure where to start, a consultant can help you figure it out.
11. Are You Clear on the Risks and Challenges Associated With Your Business?
Every business has risks and challenges.
Some of these risks are financial, while others are operational.
And some of these challenges are specific to your industry.
It's important to be aware of these risks and challenges, and have a plan in place for dealing with them.
This is also known as risk management.
Risk management is the process of identifying, assessing, and responding to risk.
A skilled risk management consultant can help you develop a comprehensive risk management plan.
They can also help you spot potential risks and challenges, and come up with a plan to mitigate those tasks.
If you answered “No” to any of these questions, it might be time to consider hiring a consultant.
Consultants can help you develop processes, improve your sales process, track key metrics, and identify the risks and challenges associated with your business.
At the end of the day, having an external perspective can be invaluable.
A consultant can help you see your business in a new light, and come up with solutions that you wouldn't have thought of on your own.