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October 19, 2024
March 06, 2024 | Read Online
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The Middle from GrowthCurve.io
Three ideas to level up your week.
Hey Reader,
Welcome to The Middle, your midweek rundown of the most interesting things we've read this week.
We're here to help SaaS VPs, directors, and managers level up to become better business leaders.
It's Wednesday, so let's jump into The Middle...
Financial Literacy for SaaS Leaders
Many SaaS leaders lack common knowledge about business financials (like balance sheets, the P&L, etc...).
It's a blindspot that holds you back...
(And the business doesn't have the time or resources to coach you)
It's time to Cover Your SaaS. A course built around Financial Literacy for SaaS Leadership.
You’ll get up to speed on SaaS business financials and leave with a new air of confidence as you partake in key decisions with your Executive team.
It’s your career; 2024 Is your year to own It.
It launches Monday March 11.
Reserve Your Spot THE MARKET
Kyle Poyar delivers the goods with benchmarks from over 700 SaaS companies. He says it so well, I'm going to hand it over to him.
Take it away Kyle:
So, how much of your growth should come from expanding customers?
It depends on (a) the size of your install base & (b) how fast you want to grow.
As you hit $50M+ ARR and growth slows, expect ~50% of net-new ARR to come from expansion.
This means:
If you knew that half of your future growth would come from existing customers, how would that change your strategy?
Growth from expanding customers vs. new acquisition
BUSINESS OPERATIONS
I read an article from Aarti Bhatnagar that emphasized routines for management teams.
C-Flex is based on the “^” symbol name, Circumflex, and is a combination of bottom-up and top-down approaches for retros (QBRs) and goal setting (OKRs).
C-Flex Framework for Strategy
One thing you start to admire is ideas that are simple to execute; simplicity breeds momentum.
Go see how QBRs and OKRs can be executed efficiently, with staff voice in mind, and in a manner that is repeatable each quarter.
LEADERSHIP
I recently came across a post from Dave Kellogg from 2015 (this post still holds weight).
Here's the headline:
– VPs are paid to make the plan.
– Directors are paid to drive results with little to no supervision.
– Managers are paid to drive results with some support.
This is one of the best descriptions of different levels that I've seen.
Every person reading this will probably say "It depends" - but once you get passed that, it resonates in its simplicity.
Here's a few things I think about when moving up in Title:
Every situation is different, but at its core, the business hires you into a role because they need you to operate a certain way to make it all work.
AI CORNER
We're in on the AI hype.
Here's one way to use AI within your day-to-day work.
This week: Handle Objections from Your Peers
Often times when we have a cross-functional initiative, it comes with making sure you have every department on board with making the sacrifice investment.
Well, get ahead of the curve -- if you have an idea thought out, then its time to see what objections your fellow leaders might think.
Here's a prompt I used:
"I work for a B2B SaaS company as a marketing leader. We're making an investment in headcount, technology and budget to really go after our customer marketing opportunity.
I want to make sure I can get the other departments bought in to letting our customer marketing leader run customer communications.
What would be common objections or questions from other departments that I should prepare for?"
Thanks for reading the recent edition of The Middle, from GrowthCurve.io.
Drop us a line, and let us know what you think.
If you found it valuable, forward it to a friend or colleague.
We'll owe you one.
🚀
Cheers!
Jay & Jeff
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