Toshendra Sharma

Entering the world of entrepreneurship was, for me, a thrilling blend of excitement and apprehension. My journey began with a service-based business model, which led to insights that served as the catalyst for transitioning into a product-focused approach. Today, I’m eager to share this evolution and the pivotal mindset shift from service to a product business, especially in the realm of SaaS.

Like many entrepreneurs, I started my career in a service-centric business. The allure of creating tailored solutions for clients seemed rewarding and promising. This model allowed me to leverage my expertise directly, adapting my offerings to meet the unique demands of every client. It taught me invaluable lessons on customer relationships, detailed customization, and the everyday challenges of managing a business dependent on human resources.

However, while fulfilling, there came a time when the limits of scalability and growth within the service model became apparent. The realization dawned that every project was inherently limited by time — a commodity that is inherently finite. This limitation triggered my interest in productization and ultimately, the SaaS model.

Transitioning to a product-based business was not just about changing the business model; it required a complete overhaul of my thinking. Productization presented an opportunity to create a scalable business model where growth wasn’t intrinsically linked to hours worked or individual client contracts. In essence, the move towards creating a product, particularly a SaaS product, was a move towards building something that could serve multiple clients simultaneously, without the direct input required in a service scenario.

Productization began with identifying recurring patterns within the services I provided. What aspects of my service could be distilled into a product? This inquiry led me down the path of developing a SaaS product — a software designed to deliver a seamless, scalable solution that addressed common pain points for multiple users.

Building a SaaS product was an eye-opener to say the least. It involved understanding technology at a different level — from development cycles to user interface design, to navigating hosting and cloud infrastructure. The challenges were considerable, but so were the rewards.

I learned that the SaaS model often allows for higher margins and impressive scalability, two significant benefits over traditional service models. Moreover, it introduced a business model with recurring revenue in the form of subscriptions — a desirable goal for any entrepreneur seeking financial stability and growth.

The transition to a product-first mindset means keeping the end-user experience at the forefront. Unlike service models where customization for each client is key, product businesses, particularly SaaS, push you to create exquisitely refined and user-friendly experiences.

Building a product means working iteratively; it means being open to feedback and using it constructively to enhance your offering. This shift has fundamentally changed how I approach challenges. It’s not about short-term fixes or bespoke solutions, but about long-term value creation and adaptability.

The shift from a service model to a product-focused, SaaS-driven business was transformative in my journey as a founder. It required an expanded perspective and a deeper understanding of the market and technological frameworks. My journey is a testament to the evolution that many founders undergo as they shift towards productization — a path that, while challenging, is brimming with innovation and potential for exponential growth.

If you’re an entrepreneur contemplating this journey, I encourage you to consider the immense opportunities presented by the SaaS model. Let’s continue this conversation and explore how product-first thinking can redefine our entrepreneurial paths. Join me in discovering new realms of possibility on this exciting journey.