The Best Business Model for 2024: Software as a Service (SaaS)

📈SaaS (Software as a Service) is the best business model for starting an online business in 2024.

💼Dropshipping and other basic business models lack long-term sustainability and have high competition.

💰SaaS businesses have high margins and offer recurring revenue, making them more profitable.

🌐Building a SaaS product requires more capital and skills, but it has higher earning potential and exit opportunities.

📱For beginners, starting with a B2C SaaS mobile app is recommended due to easier marketing and wider audience reach.

Why is SaaS the best business model for 2024?

—SaaS offers high margins, recurring revenue, and potential for a large exit, making it a more profitable and sustainable choice.

Are basic business models like dropshipping still viable?

—Dropshipping and other basic business models have become saturated and lack long-term sustainability due to high competition.

Does building a SaaS product require more capital?

—Yes, building a SaaS product requires more capital and skills compared to basic business models. However, it offers higher earning potential and a greater chance of success.

What is the advantage of starting with a B2C SaaS mobile app?

—Starting with a B2C SaaS mobile app allows for easier marketing and a wider audience reach, making it a recommended choice for beginners.

How can I get started with building a SaaS business?

—Start by identifying a problem that your SaaS product can solve. Then, create a detailed design and hire a developer, preferably from Eastern Europe, to bring your idea to life.

00:00The best business model for starting an online business in 2024 is Software as a Service (SaaS).

02:24SaaS offers high margins, recurring revenue, and potential for a large exit.

05:52Basic business models like dropshipping lack long-term sustainability and have high competition.

09:29Building a SaaS product requires more capital and skills.

10:09Starting with a B2C SaaS mobile app is recommended for beginners.