It is not impossible in this market, just very hard. The key is getting your cost of customer acquisition down below your lifetime customer value. You can do th

It is not impossible in this market, just very hard. The key is getting your cost of customer acquisition down below your lifetime customer value. You can do this two ways - use a low touch sales model or offer a sticky product with high margins at a relatively high price. The problem is not many products can be sold successfully into the SMB market with a low touch sales model - the decision makers are just too busy running their businesses to investigate what technology products will make their life easier on their own (hence the need for sales staff). Once you need sales staff you need a product that is going to give you a high lifetime customer value and there are not many technology products aimed at the SMB market that can offer this. I sell into SMB market, but I sell a very expensive SAAS product in a tiny niche. This makes a great lifestyle business, but it has no interest to investors because the total market size is just too small.