I recently had an unfortunate Growth Session with a SaaS founder who was running his company straight into an iceberg. … an unforgiving 25% churn rate … about 3 months cash runway … total mis-management of capital Instead of fixing the leaks (churn), he insisted on keeping the sales and marketing engines on full blast. Essentially a great way to crash into that iceberg even faster. 😬 While it’s usually great advice to maintain a growth mindset (I’m all about
Growing a tech company is hard. Growing a tech company with lawsuits being thrown at you left and right is nearly impossible. The good news is, most legal issues that startups face are HIGHLY preventable, and can be sidestepped with just a few simple measures.
In over 20 years in business, I’ve never met a single founder who hasn’t had to fire at least one employee. While the thought may create knots in your stomach, letting an employee go is actually a super valuable skill with further reaching implications than you might think. Because done wrong, It could crush team morale, compromise data, and even cost you valuable customer accounts. Breaking up isn’t fun… but it’s a skill that as a founder you need to
Back in 2008, Warren Buffett was approached by a struggling insurance company. He asked them to fax over their financial data to the hotel he was staying in (in Edmonton, Alberta)... Within just a few hours he was able to put together a proposal to acquire them. How did he do it?
Freakin’ typography. Add that to the list of things I never thought I’d learn. Yet I’m proud to say I could now rock the basics like a champ. Did I take a course? Nope. Read a book? Not this time. Instead, I tapped into one of the most underleveraged sources of knowledge capital that EVERY software founder should be capitalizing on:
Can we talk about your MRR for a sec? If you’re like most founders I coach inside SaaS Academy, chances are you: Obsess about growing it Overcomplicate how to do it Truth is, if you’re experiencing a plateau in your MRR, it probably has much less to do with your company’s growth potential, and everything to do with how you’re over-complicating the process of tapping into it. In this week’s episode, I cover the 6 things you can do TODAY
Some of you are gonna hate me for even saying this. Might even have some intense fist-shaking action. But it’s gotta be said. There is such a thing as having too many leads.
If you’re in the software game for the long haul, at some point you’re going to have to disrupt yourself. This could mean announcing major price hikes, firing most of your customers, drastically trimming your product line, and even shifting core product functionalities. Scary? Of course. Necessary? You freakin’ bet.
We’ve all seen it. The over-enthusiastic startup founder who hands out equity with the same discretion as a pre-teen using their parent’s credit card to buy front-row Bieber tickets. *sigh* And I totally get it. In the early phases of your startup (especially the idea stage) you might not have the cash on hand to cover the major expenses related to developing your MVP.
If I handed you a blank check and a portfolio of five software companies and asked you to acquire one of them by the end of the day… how would you feel? Would you panic? Would you know exactly what to look for to pick a winner? Or would you go off a hunch and risk picking a dud? Evaluating a SaaS company for acquisition is a stressful and intimidating process if you don’t know what you’re looking for.