5 Key Components of Extreme Revenue Growth For SaaS Companies

5 Key Components of Extreme Revenue Growth For SaaS Companies

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…)

It’s called Extreme Revenue Growth by Victor Cheng, and it’s pretty much required reading for any SaaS founder truly serious about their company’s growth.

If there’s one book you want to obsess over this month, I recommend this one takes up the prime real estate on your night table.

But for now, I wanted to share the 5 key components that can make the quickest impact on your company.

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At a high level, the 5 key components of extreme revenue growth are:

  1. Target a customer who’s aware of their problem
  2. Promise your company makes
  3. Distribution channels
  4. Product that fulfills a promise
  5. Sustainable competitive advantage

If you want to save yourself from years of unnecessary struggle, I suggest paying particular attention to #4.

You can have the best marketing in the world,  make the most attractive promises, and have the widest distribution channels and affiliate partners in the industry…

But if your product isn’t delivering on the big promise… you’re essentially digging your own digital grave.

But when done right, you’ll leverage what I call “viral word of mouth” or VWOM… which not only delights your customer base but creates an army of evangelists that create an amplification effect for your product.

If you don’t yet have “VWOM” working for you, you’ll want to pay special attention to how to create it.

It’s one of the single biggest factors in extreme growth — and what has allowed startups like BioTrust out of Austin to grow to over 100M+ in revenue in under 4 years.

Give the full episode a watch here and let me know in the comments which component of extreme revenue growth you’ll be focusing on in the coming weeks.

  • http://www.vinishgarg.com/ Vinish Garg

    To me 4. is so crucial. So many startups who validate the idea successfully and invest in their sales strategy and product design, end up with designing something where the product does not live up to the promise. This may be due to:

    – The promise itself was diluted (message in marketing, vocabulary by sales and in design are different)
    – The design has too much friction
    – The brand message and the experience itself does not inspire the confidence that customers should pay or upgrade, and continue paying
    And so on.

    PS: I saw Patrick’s email for Recur 2018, at: https://www.profitwell.com/blog/recur2018 I would love you do a recap on that event after it happens 🙂

    • http://twitter.com/danmartell Dan Martell

      Vinish, what’s up!

      Yep, I’ll be at Recur.

      What kind of recap are you looking to do.

      If it’s interview style, then ping [email protected] and we’ll get something scheduled.

      Appreciate the interest.


      • http://www.vinishgarg.com/ Vinish Garg

        Hey Dan, I was traveling so much last week. Not a planned interview but I meant a generic recap in your blog itself.

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