What if there was a single number you could measure… one number that you focus all of your attention on... And it would make your business rain revenue like never before?
I don’t think a SaaS founder should be their own accountant. I’m not, and I wasn’t for all 5 of my companies. Your job is to get really good at running a business and making money. That’s it. But to do that, there is ONE type of accounting that I believe you NEED to understand: Accrual Accounting.
It’s the thorn in every SaaS founder’s side… The number that keeps you awake at night: Your churn rate. Churn equates to invisible dollars that slip through your fingers. The lower that number, the more successful and exponential your capacity to grow. But how exactly do you measure churn?
When I was 29 years old, I was pitching to investors for funding. I’d breezed through my pitch deck, million-dollar smile on my face despite my shaky nerves when they asked: “What’s your CAC?”
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.
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.
I’ve seen it too many times... Agencies that screw a business like yours out of your hard-earned cash. You hire an agency wanting quick results but end up with a hole in your bank account and a laughable ROI to show for it. Whenever I see this, I don’t blame the agency. I blame the business that hired them. Harsh? Yes. But it’s true. Agencies can get you GREAT results (and I’ve worked with many over the years)... ...but ONLY
Software companies love new customers... BUT few pay special attention to them. The most important part of getting customer success stories is making sure you have excited customers to tell that story. It’s crazy simple. It all starts with… The customer relationship. Let me define it: It's the relationship between a customer and a business. Just like any relationship, it can be good, okay, or completely terrible. And the best way to knock it out of the park with new
I bet you dream about growth, dreams like: “If I got x more customers per month, our revenue would…” It’s exciting to think about where things could go, and how much revenue could come flooding in. But I have to break it to you: There’s a limit. Yes, there’s a growth ceiling to a SaaS. I call it the Churn Flatline. It comes down to simple math, but it’s 100% predictable.
“How do you maximize your revenue?” It’s the question that everyone wishes there was an easy answer too. No, I don’t mean that as a thought-provoking chin-stroking question to ponder from the armchair. I mean how do you actually do it? How do big businesses know the right steps - backed with data - that are going to blast them to their revenue goals and beyond? Answer:
