The Stair Step Method of Entrepreneurship

The Stair Step Method of Entrepreneurship is a framework for building a significant, standalone SaaS business by starting with smaller, simpler products first. It's a progressive approach designed to build skills, experience, confidence, and revenue before tackling the complexity of a full-fledged SaaS application.

The Steps:

1. Step 1: Your First, Simple Product

   • Focus: Build a simple product with a simple marketing plan, often targeting an existing ecosystem.
   • Examples: A WordPress plugin, a Shopify add-on, a Heroku add-on.
   • Goal: Generate initial revenue and learn the fundamentals of building and marketing a product.

2. Step 2: Rinse and Repeat

   • Focus: Double down on the successful model from Step 1.
   • Action: Launch one or more similar products, refining your skills and mastering the low-cost traffic channels that work.
   • Goal: "Buy out your time" by creating enough recurring revenue to quit your day job and focus on entrepreneurship full-time.

3. Step 3: Standalone SaaS Product

   • Focus: Build a complex, standalone SaaS application.
   • Prerequisites: You now have the skills, revenue, and confidence gained from the previous steps.
   • Goal: Build a multimillion-dollar business.

This method is a deliberate strategy to de-risk the difficult journey of building a SaaS company by treating it as a marathon, not a sprint.

Tags: #SaaS #bootstrapping #entrepreneurship #framework #stair-step-method