8 Quotes I Heard at SaaSTr That Will Transform Your Business
I’m always on the hunt for new ways to grow my company; to improve…well, everything, really — from what we do to how we do it. After all, if I, or any other business owner, didn’t evolve with the times, we’d still be using the barter system of trading, right?
So, I was delighted to join other B2B folks at this year’s eye-opening SaaSTr.
SaasTr Annual is pretty much the biggest SaaS event of the year; a massive conversation starter designed to ‘help everyone scale faster and with less stress.’
And on that score, the event definitely did that. But just because it’s an enterprise software event doesn’t mean all business owners can’t pick up a few juicy tips to give their company a boost.
‘Do not assume that stuff that works at one company works at another.’
As business owners, we’re all guilty of side-eyeing the competition. We measure ourselves against our rivals and curse under our breath when their pay-per-click ads pop up on Google. But while that’s all grand and dandy (and educational) for, say, your marketing department, all it’s providing is a distraction from your own business.
Just because the competition is doing X doesn’t mean you should too. Your business might better benefit from doing Y. Or Z. Point is, just because others are doing something, doesn’t mean it’ll work for your company. And while we’re at it, remember…
‘What got you here won’t get you there.’
You’ve probably done incredible things to get your business to where it is today. Hard graft. Sleepless nights. A smidgen of luck…
But the work you’ve already put in isn’t what will take you to the next level. If you’re not prepared to evolve every step of the way, then you’ll soon realise there are no more steps to take. This is the dreaded ceiling that many small and medium-sized businesses struggle to smash through. It’s like running a sweet shop that only sells lemon sherbets. That’s great — in time you can become to lemon sherbet baron! But if you want to increase your reach, and increase your number of sweet-toothed customers, then you’ll want to bring in new ideas, new marketing strategies, new sweets that entice and attract. It’s about building on past successes to create future ones.
‘At every phase the company is different, and appreciating where you are now is a really important aspect.’
Far too many companies either don’t recognise the need for growth, or think they’re bigger than they are — you see this a lot in the technology sector, but it’s endemic across all industries. And it’s completely debilitating.
Business growth needs honesty, right? A massive part of that conversation is about your current status and where you’re heading. Companies are like rivers, constantly ebbing and flowing, and knowing that your company’s position is different, even from the day before, is critical to any expansion plans.
‘Build a real business with customers. Money will be there when it’s time to scale.’
There’s a reason why Coca-Cola is the behemoth it is today (and it’s not the multi-million-pound marketing budget, honest). They started out with a solid product that people wanted. It’s why Google owns the internet; it’s why McDonalds dominates fast food. They all started out small, offering a product or service that really resonated with the public. And, because of that strong base, growth came easy.
Managing a business shouldn’t be about continual funding rounds and endless growth plans — that’s not why we set them up, is it? We founded businesses to deliver services and products that people actually want and need. In other words: Don’t run a business before you can walk.
‘Culture isn’t all about coffee, booze, dogs in office, and ping pong.’
…I mean, it’s partly that. All those things feed into the general vibe of a business (we don’t have a dog here at accessplanit, but we do have great coffee), but culture isn’t about the colour of the walls.
Company culture can be best characterised as a business’s personality. It’s about what makes you you, so ask yourself…
· Who are you?
· What do you stand for?
· What do you want to achieve?
· How do you operate?
· How do your values chime with the culture you desire?
Installing a cappuccino machine for your staff is great; having a meaningful culture that reflects what you’re trying to achieve is far better.
‘The essence of strategy is deciding what not to do.’
So, you’re going to grow your customer base. And increase profits by a million pounds. And double the head-count. And get an office in Dubai. And… And how are you going to reach those objectives, even with a flawless roadmap (and a spring in your step)? The dangers of a big ol’ business strategy include spreading your talents too thin, a lack of focus, overwhelming your employees, and prioritising the wrong things. Oh, and that’s before your project overreach starts impacting on your bottom-line.
A solid strategy is ruthlessly laser-focused; a shark that gets the job done in the most efficient manner possible. Ambition without realism is just a dream.
‘As a CEO, be the fastest learner.’
Obviously it’s pretty important to be aware of all the trends of your industry — you’re an authority and should present yourself as such — but being the fastest learner in the business doesn’t mean running the company single-handedly (even if it’s the first thing we think about when we wake up, and the last thing at night).
Being a fast learner isn’t about understanding how particular software works before anyone else. It might mean recognising the need for operational change or that your staff are highly capable of completing specific tasks without being micro-managed (after all, leaders who don’t show trust aren’t trusted). Knowing what you know and what you don’t is the first step in growing your company and nurturing your team.
‘Don’t believe your own BS.’
Stay grounded. Listen to your team, not just your C-suite. Accept criticism the same way you accept compliments. ‘Nuff said.
Now I’d love to know your favourite business quotes; the ones that helped propel your business to greater heights. Let me know in the comments, and head here for more musings from an MD.
