This content was created by GHION.AI . This content was uploaded by GHION.AI . This is a YouTube video titled "Strategic SaaS for Targeted Spaces" created on February 8, 2023. It discusses the challenges and strategies of developing specialized SaaS solutions for specific industries, emphasizing the importance of understanding unique market needs and the trend of verticalization in SaaS.
Chapters
There were so many people that tried to talk me out of this early on and that was one of the things they said either why would they adopt technology in your space or why wouldn't they just use other tools like QuickBooks or Microsoft or whatever it is. In some cases, maybe the market is too small where it doesn't matter to solve that problem. But if the market is big enough, solving a problem that is, albeit maybe small but meaty, can be really meaningful. The reality is trying to take QuickBooks or Square or anything else and adapt it to our market or even tools built for K through 12, it's really, really different. The way that they run their business, the way that they manage their staff, the way that they are regulated, as we talked about, all that's really, really unique. And so there's some things along the way that have been very serendipitous. One was timing where there was this trend of the verticalization of SaaS which is like every major market now has actually one or two multibillion dollar companies that are just dedicated to offering really, really great SaaS for that space. And yes, you could maybe apply different tools, but the people in that space recognize that if I'm a restaurant, I want to buy something that's going to help me run my restaurant, right. And yoga studio, as I mentioned, or if you're a contractor or plumber, all of that. And so we actually are, you know, we share investors with all the leaders of every major vertical and it is actually just a strategy now which is like go out and be the winning software for that space. Amazing. And I just think you can't actually fundamentally solve their problems. If we, if they can't bill parents the way I want to build parents, if they can't manage their staff or track immunizations the way that they're meant to, you're not going to actually get very far with them. And our ability to speak to them and understand them is what enabled us to get to the scale.