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The biggest competition in SaaS is a spreadsheet.
It's also the biggest opportunity.
The knowledge economy thrives on the back of spreadsheets and I've spent the last 5 years watching the Unbundling of Excel result in ridiculous returns.
Here's 5 lessons I've learned.
It's also the biggest opportunity.
The knowledge economy thrives on the back of spreadsheets and I've spent the last 5 years watching the Unbundling of Excel result in ridiculous returns.
Here's 5 lessons I've learned.
Billion Dollar Companies Can Be Built On The Back Of Current Use-Cases Of Excel The Excel templates found on the Office 360 website show you the plethora of templates and examples that are being turned into companies.
Invoices. Inventory. Biz Cards. Calendars. Etc...
Every Excel template is an opportunity.
Example
There are 350+ “Billing & Invoice” software services on the software review site Capterra.
350 companies competing w/ Excel to capture the thousands (maybe millions) of people who still rely on excel for their invoicing needs.
Example
There are 350+ “Billing & Invoice” software services on the software review site Capterra.350 companies competing w/ Excel to capture the thousands (maybe millions) of people who still rely on excel for their invoicing needs.
Here's a fact for you Each month there are:
301,000 searches in Google for "invoice template"
and.. .
12,100 searches in Google for "invoicing software"
There's still a ton of value to be had in this space. The market is still early and ripe for innovation.
Each month there are:301,000 searches in Google for "invoice template"
and.. .
12,100 searches in Google for "invoicing software"
There's still a ton of value to be had in this space. The market is still early and ripe for innovation.
The Opportunities For Unbundling Excel Include (1) Vertical Specific and (2) Use Case Specific You can unlock spreadsheet arbitrage two ways:
1) Go after a use case
2) Niche down in a vertical
A use case is "general invoices" and a vertical is "invoicing for doctors".
There are billion dollar businesses that tackle specific use cases. There are billion dollar businesses that take those same use cases and apply them to niches.
CRMs can live in Excel.
But the hundreds of CRM SaaS products are better.
The riches are in the niches.
CRMs can live in Excel.
But the hundreds of CRM SaaS products are better.
The riches are in the niches.
Free Tools (Inspired By Excel) Are A Marketing Opportunity Here's a few common Excel use cases:
Invoices. Profit margin calculators. CPM calculator. Loan calculators. Gift card templates.
These are all things you can do in Excel
Or using free tools from by Shopify.
Brands can create free tools and steal value from Excel.
Shopify generates more than 2 million visitors every single year from a collection of free tools they offer.
The benefits?
Generate leads
Generate backlinks
Build relationships
Capture emails
Strengthen their SEO moat
Shopify generates more than 2 million visitors every single year from a collection of free tools they offer.
The benefits?
Generate leads
Generate backlinks
Build relationships
Capture emails
Strengthen their SEO moat
Search Data Can Offer Insight Into Excel Arbitrage Opportunities Use a tool like keywords everywhere to get a glimpse into what the volume is for search terms surrounding Excel templates that people are looking for.
Or... Look at the arbitrage underway by Airtable.
Spreadsheet Use Cases Is The Easiest Opportunity To Export Value From Internal Use Cases Want a great SaaS idea?
Ask yourself what spreadsheets exist within your company that are used every single day. What spreadsheets would your competition DREAM to have access to?
I hope this thread helps someone go out and create something great. Spreadsheets are one of the most underrated pieces of technology.
We all love the iPhone. We all love the TV. We all love AR and VR. But the spreadsheet deserves mad respect.
More here: https://foundationinc.co/lab/the-saas-opportunity-of-unbundling-excel/
We all love the iPhone. We all love the TV. We all love AR and VR. But the spreadsheet deserves mad respect.
More here: https://foundationinc.co/lab/the-saas-opportunity-of-unbundling-excel/
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I talk SaaS & marketing often so be sure to smash that follow button @TheCoolestCool but also subscribe to my newsletter where I break down SaaS growth strategies and deliver actionable tips on marketing: https://content.foundationinc.co/insights
