Unlike product-based businesses, it can be difficult to track the impact that every activity or investment has on a SaaS company’s bottom line. So, how can you do it?
In SaaS companies, many of the things that a business invests in are features and functions that are designed to improve the experience of an existing user base and reduce customer churn. Deciding which of those investments will produce the most optimal results and then prioritizing those investments, however, can be a significant challenge.
Learn how the celebrated innovator became a prisoner of his own vision, which ultimately resulted in an enormous downturn for his company.
Henry Ford is unquestionably one of the greatest entrepreneurs to ever live. Anyone looking to follow in his footsteps would be wise to emulate him in countless ways. But it’s also important to learn from his missteps, say Brant Cooper and Peter Vlaskovits, authors of The Lean Entrepreneur. Looking at what was eventually his undoing, they see an entrepreneur cautionary tale that mirrors many contemporary situations facing SaaS companies.
Put yourself in a prime position to make a big impact in 2014 by staying ahead of upcoming trends and anticipating what the future of social media holds.
You don’t need a time machine or a top-notch psychic to predict the future of social media. After all, we’re not talking about flying cars here. No, to set your business up for success, you just need to anticipate trends on the horizon in the next 12-18 months. Daniel Cristo, co-founder of Triberr, explains where you should be looking to get ahead.
Before you add new features to your product, you should ask yourself these four questions to determine whether it makes sense to outsource development.
Let’s say you’re a B2B software company that sells marketing automation tools, but you want to incorporate revenue optimization or predictive analytics into your product. Should you invest the resources into building those features yourself, or would you be better off outsourcing development?
If you’ve got team members who are falling behind the pack, try some of these proven tips for lead generation reps.
You’re always (well, hopefully) going to have a few superstars who outpace the team and need almost no coaching. But on the flip side of that coin, you’ll likely have some members of your team who have some trouble hitting their quotas. Of course there are a variety of reasons they could be struggling, and after seven years of leading the team at ExactTarget, Christy Weymouth has a few tips for lead generation reps.
It may lower your customers’ barrier for entry, but it can also raise the stakes for you financially in the long run. For SaaS companies, it is incredibly important to understand the freedom and limitations of the freemium model.
Free might be music to your customers’ ears, but it probably makes your CFO cringe. After all, if offering your product for free isn’t positively impacting your bottom line, then it’s not going to be worth it. But instead of thinking of it as free, explains Kareo founder and CEO Dan Rodrigues, the freemium economic model really just allows you to shift funds around.
When it comes to coaching lead generation reps, it turns out there IS a magic number.
It goes without saying, but everyone on your team is busy with their day-to-day duties, yourself included. But even though it’s all too easy for something to push coaching sessions to the side, it’s in no one’s interest to let that happen. Since it’s always easier to accomplish a goal when you know what you’re shooting for, Steve Richard, co-founder of Vorsight, is here to divulge exactly how much time you should be dedicating to coaching lead generation reps each month.
Your company may have the market, product, and strategy in place to drive growth, but if it doesn’t properly manage these three scalability challenges, it could derail the business entirely.
When it comes to scaling a software company, there are three key components that businesses must consider before they step on the gas: People, process, and technology. And while each of those components has its own unique challenges, AtTask CTO Ted Hoy says in the video below that the biggest scalability challenge isn’t to find solutions for each of those components. Rather, it’s to deploy those components in a way that doesn’t burden your organization financially or culturally.