Of all the founders of software companies I have worked with at Scaling Point in the last two years, half of their companies serve vertical markets.
They are focused on a single industry.
Not just an industry-market now so they can get to other industries later. A single industry for now and later.
They are all growing seriously fast without serious funding, for several reasons:
- They are experts in that industry
- They care deeply about the people in that industry
- They see precisely where the problems are from the inside
- They have proof that their market is underserved by generalist solutions
- They have wide networks to reach their market quickly
- They speak the language of the industry
- They deeply understand their customers – their emotions, dreams, routines
- They are trying to solve the whole problem for their customers, not just the surface problem
My own Scaling Point business is industry-focused. Gregslist is too.
I just help serious founders of B2B SaaS companies in the early stage between crazy startup and repeatable scale.
For all the same reasons listed above.
The founders I help would never hire someone who isn’t a 100% expert in SaaS with deep experience, relationships, and insights in their industry.