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?
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 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.
Not all leads are created equal. Even if you’ve dialed in your ideal customer profile and built out your distribution channels to only attract the perfect prospect… ...you’re still gonna have to implement systems and filters to separate your buyers from your tire kickers. This is especially true in the scaling phase where spending too much time with non-buyers will tax your sales team, inspire bad decisions with “false negatives”, and create a whole slew of crushing inefficiencies. After taking
I’ve nerded out to over 1,000 business books. Of course, there’s the *obvious* classics like Traction, Scaling Up, and Good to Great. But there’s also this little-known, underground classic that I REFUSE to let any of my private coaching clients do without. It’s so *under the radar* that at last count, it had a whopping total of 9 Amazon reviews (all of them 5 stars by the way...)
“How’s your company doing?” It’s a simple question. Yet one that freezes so many SaaS founders in their tracks. Why? They have no freakin’ clue how to answer it. Do you mean churn? Do you mean new leads? Do you mean expansion revenue?
Back when I was growing Clarity.fm, we were getting a TON of organic traffic. At its peak, we were clocking in at over 100K unique visitors/month. Which on the surface sounds like a number worth fist-bumping over. Problem was… Barely any of those visitors were actually converting into free accounts or paid calls. About 2% to be exact. (I can’t believe I thought that was OK) And it’s not like the leads were bad either.
“Facebook ads don’t work for B2B SaaS” Raise your hand if you’ve heard that one before (or have been the one to say it). I hear some spin on that one multiple times per week. Usually from a jaded SaaS founder who went “all in” with Facebook only to burn through their Amex card with nothing but a stack of air miles to show for it. There’s a reason that Facebook is such a polarizing channel in the SaaS world.
Nothing makes me facepalm harder than getting an email from a SaaS company with a subject line that says… “Dan, your free trial is about to expire” *grabs an ice pack for my aching forehead* If you’re using email marketing as a notification tool (and not as a 24/7 salesperson who doesn’t take holidays or call in sick after a Black Mirror binge fest)...