“What the $%&# is a CSM… and how is that going to make me money?!” When I started out in business nearly 20 years ago, there was no such thing as a CSM. Those 3 letters just didn’t go together. Nowadays, most B2B SaaS businesses see a CSM as essential to scaling a business faster, reducing churn, getting greater customer LTV and protecting your brand.
How do you sell your SaaS? I mean… how does that process actually look, end to end, from meeting a buyer to pocketing a 7+ figure paycheck? Buying and selling a business isn’t like walking into a store, picking an item off the shelf and approaching the counter. There are valuations, due diligence, escrow accounts, handover processes, and more… before the massive paychecks can get cashed. It’s quite a process.
I have a confession... In my mid-20s, I was the worst leader. I was trying to run a team and was wildly out-of-touch with so-called “good leadership”. I just didn’t know it yet. I held a team offsite, a getaway with the executive team to reflect on the quarter, set goals and come away reinvigorated. It didn’t work. My fault. I tried to force passion on the team, crack the whip on our productivity and focus on project management. In
Hate to break it to you, but it’s not all about money. I mean it. Here’s an example... One of my coaching clients recently hit a milestone that we’ve been working towards for years: $1M per month in profit. After 9 years of hard work, he turned that dream into a reality. HUGE achievement! But instead of celebrating, the next question that came was... “What was the purpose? Why am I doing this? If we make more money as a
Being a venture funded SaaS founder is like walking into a casino to bet all of your employees’ salaries… every single day. Your decision to make one choice over another - bet on red or black - can cost your company millions. A few wrong bets can dry up your finances and run your company into the ground. But a few consecutive right bets can leave your competition for dead and give you the lion’s share of the market.
Alright, fine. I’ll go on record and say it. There is a huge difference between marketers who call themselves Growth Hackers… and those who actually know the SCIENCE of it. Using the term ‘Growth Hacker’ in your LinkedIn bio doesn’t matter. It never did. All that matters are the actual numbers.
When I was 24, I started my company Spheric. It nearly killed me. As an ambitious entrepreneur, I had to make it work and wouldn’t stop at anything. Before I knew it, I was pulling 100+ hour work weeks. That’s 14 hours per day, 7 days per week. (Sound familiar? Don’t lie… I bet you check in on your business on the weekend too.) There is NO WAY I would ever recommend doing that again!
Years ago the so-called “secret” to B2B company growth was getting leads. If you got enough email addresses or phone numbers that you could give to your sales team, you were going to make BANK. Not any more. Everyone is on LinkedIn, social media accounts are 1-click away, and business emails get scraped and sold daily. It sucks… but it’s true. The question isn’t how to get leads, it’s “How do I make them stop and listen?”
Try this theoretical A/B test in your mind. The control is your SaaS product as it is right now. The ‘B’ variation is your exact same business… ...but with hundreds of 3rd party product review sites publishing in-depth reviews of your software. Let’s get clear on this: You aren’t writing these reviews. Other people are. These reviews are shared on blogs, social media, and on YouTube. The publishers of these reviews are driving their own traffic. Without changing anything about
“10x more money per customer?” Cha-ching! Moving your business upmarket can mean massive revenue boosts. It’s where the big-bucks get made. Upmarket customers are the affluent, enterprise-level businesses that demand more from your SaaS... but also write bigger checks without even blinking. By moving upmarket, your company's growth can scale quicker from fewer customers. I bet you’re already thinking: “SIGN ME UP!”