Building a successful SaaS product takes at least two years to validate, according to Jason Lemkin. Before starting, ask yourself if you can afford the financial and opportunity costs of that commitment. Most entrepreneurs underestimate how long it takes.
It's more difficult than you think, and it takes longer than you think. And that's part of the patience that I was stressing earlier in our conversation. Going back to Jason Lemkin, who I've learned a lot from, he said it takes a minimum of 2 years to see for a single product idea in SaaS whether you're onto something or not. And so talking about that detrimental impatience, can you set aside the next 2 years to try out A SaaS idea to see if you've built something that's worth pursuing, it takes 24 months. And so do you have the patience financially, your significant other, your friends and family, in your career, the opportunity cost of your career? Is that 24 months you're willing to set aside and commit to and seeing, will this work? Is, am I onto something? And so there's a lot of resources now. And so I think there's opportunities for folks to quickly learn what it takes, but it's really that patience and that resilience that's, that's really critical to success.
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Keith Gillispie: Why Most New Investors Fail & How to Avoid the Common Traps #250 | SaaS District
