20 years ago, the words “Artificial Intelligence” were more common in Hollywood than in Silicon Valley. A.I. made for great sci-fi movies… but not for good software. At best, it was a dream of what the future may be. But now, in 2021, artificial intelligence is the hottest new tech trend.
If growing your SaaS means selling to Enterprise clients, then... I feel your pain. When you have enterprise clients, you can’t just build a simple sales funnel then kick back and relax… An enterprise contract for $10K to $20K is a little more involved than an advert >> sales page >> checkout...
“Why are sales dropping?”, “What do we prioritize next?”, “Should we pivot?” There is power in a question. And as a SaaS founder or CEO, you can’t go chasing answers to the wrong questions. It’s a wild goose chase (and a waste of your time). So your ability to ask the RIGHT questions will result in growth for your business. And I have some bad news...
“How many mermaid tails do you think are sold every year globally?” It wasn’t a question I expected to be asked by a SaaS founder. I guessed 50 million.
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.
“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.
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!
12 months, 1 piece of paper, A4 only. Does it fit? Can you write a plan for your next year on a single piece of paper? If not, then… your plan is too complex. (This is coming from a guy who LOVES spreadsheets.) Your next 12 months are going to fly by whether you want them to or not. The question is: Are you going to get 12-months’ worth of life out of them?