With lower overhead costs, a simplified sales process, more efficient operations and shockingly high multiples when you sell the company, it's hard to beat the SaaS business model.
SaaS, or Software as a Service, is a part of almost everyone's lives today. Salesforce, Shopify and QuickBooks are all examples of these tools. So are Microsoft Office, Adobe Creative Suite and Hootsuite.
SaaS flips the traditional software business model upside down by basically renting access to the software instead of charging a one-time cost.
Initially, customers hated this.
I was one of them.