I can tell if your business is going to scale successfully by asking one question: Do you have a business coach, mentor or advisor? If your answer is no… I’m worried for you. Hear me out. Succeeding in business means making the right decisions frequently. I’ve seen small companies dominate in niches that were owned by big-business giants simply because they made better decisions.
CEOs have it tough. It’s not enough to grow your company into healthy profit margins and then coast along “because it’s working”. I know it’s tempting to kick back and pour the martinis, but comfort is a dangerous position to be in.
Let’s pop the hood of your SaaS retention engine. The machine that creates your revenue, that turns new customers into long term LTV... Pry apart each leaky valve, tighten each bolt and make sure you’re running a fine-tuned growth-maximizing machine. I’ll give you the 3 tools I recommend to improve EACH of the 8 key parts.
Between 17 and 24 years old, I built 2 companies... that failed. Why did they fail? Fear. Fear can cripple entrepreneurs and businesses before they’ve even started. Fear of the unknown, fear of making a wrong decision, fear of embarrassment… It’s the internal battle and if you don’t think it’s happening, you’re lying to yourself. Every successful entrepreneur, from Jeff Bezos to Elon Musk to Richard Branson, was once a terrified young adult that no-one knew.
In 2011, the billionaire co-founder of PayPal, Peter Thiel, started giving $100k to young entrepreneurs under 22. ...but only if they would drop out of college. $100k paid to 20 applicants per year without taking any equity at all. There was nothing in it for him. So why did he do it?
What does success mean? Get specific… what exactly does it look like to you? Is that word just a placeholder for some anonymous measure of public respect and acceptance? Is it about bank account zeros? My idea of success has changed… a lot. The answer I’d have given you when I was 21 is nothing like the answer I’d give you now. Why?
“HELP! I’m losing customers in the pandemic!” As a SaaS Coach, I worked very closely with a lot of software founders who are nervous that their businesses won’t ever recover from coronavirus. Customers are cancelling, accounts are drying up, and prospects are turning into dust. We have never seen a global economic meltdown quite like this one… so the concern is 100% justified. But listen to me: You are not powerless. Today I’m going to give you a crystal ball.
Take everything you think you know about sales teams… And get ready to throw it out the window. I mean it. Sales, as a concept, is still dragging a lot of dead weight from old-school sales gurus chanting “ABC - Always Be Closing!” The SaaS business model is being polluted by these old ideas that just don’t work. For decades, we’ve needed a fresh new take on sales training strategies...
A few weeks ago, I owned up to the biggest mistakes I made in my 20s... mistakes that cost me literally millions. This video is the sequel. Believe it or not, when I turned 30 I didn’t magically become an angel, with a perfect track record of success. (Shock! I can hear your gasps from here)
If you want to stop an investor like me dead in their tracks, show them these 7 numbers. With the right combination, they’ll fall over themselves to throw money at you. Beg to invest. Yes, even in the middle of a pandemic, when the world feels like it’s balancing on a knife’s edge... These 7 numbers will show me your entire company’s health.