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.
After all, most growing businesses today have access to the people, processes, and technologies needed to scale, but those things always come at a price. To scale effectively, Hoy says companies must first determine if the people, processes, and technology they’re adding to their organization align with their cost structure, goals, aspirations, and corporate culture.
Setting SaaS Priorities: Establishing a Clear Line-of-Sight to Revenue
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.
The key, explains AtTask CTO Ted Hoy, is to create a process that allows you to track the end-to-end impact of specific investments in your infrastructure. In other words, if you spend "X" on building new features or product enhancements, you should be able to establish a clear line-of-sight to tell exactly how the initiative will impact customer adoption, renewals, and, ultimately, revenue. That's not always easy to do, Hoy admits. But in the video below, he explains exactly how AtTask, a leading project management SaaS solution (http://www.attask.com/), has done it.
For more tips and tactics for growing your business, visit: http://labs.openviewpartners.com/
Subscribe to receive new videos in your feed: http://www.youtube.com/channel/UC5Qek...
Subscribe to our weekly newsletter: http://openviewpartners.com/newslette...