Increase revenue and market awareness exponentially without an upfront development investment Figuring out how to effectively scale a software business is often best reflected by taking a walk through the boneyard of failed attempts of other companies just like yours. The big ideas—the solutions software vendors bring to market– have as much impact on scale as the steps the leaders of these companies take or don’t take to execute their vision. Grow or die. Scaling is an attractive characteristic of the software business for investors.
You incur heavy upfront investment costs as you formulate and develop your initial solution. Then, in theory you replicate the product over and over with high margins and without hiring huge teams to do so. Actually delivering on the promise of finding gold is what separates the strong from the weak. Considering the 80/20 rule of efficiency is absolutely critical. To uncover blind spots take a hard analytical look at these to fundamental questions:
- Who is on your team?
- How efficiently does the company operate?
- Why are deals lost or won?
- How likely are your customers to recommend your solution?
Each meeting with your Board or investors is riddled with questions relating to your ability to scale. How can you turn your software company into a money making, customer satisfaction machine? How do you outpace the competition? How do you achieve aggressive year over year growth? Manifest destiny to incredible profits, going public, being acquired or accomplishing world domination is the fuel for thousands of software industry executives to work like sleep deprived maniacs. And, yet each and every year thousands fail altogether or possibly worse fail to grow and stagnate, which if left uncheck could lead to a slow and painful death. Why do some software companies achieve greatness while others simply just make ends meet, wither on the vine and eventually perish? Although there are lots of possible viable answers—luck, good looks, deep pockets—the single greatest reason companies fail to grow is the inability to execute for scale.