In the last episode, we covered everything you’d want to know about collections. This episode we covered the ins and outs of Bookings, Billings, and Revenue. BBR, not Pabst Blue Ribbon PBR, but BBR, Bookings, Billings, and Revenue.
The technology stack you choose not only supports growth, it shapes it.
Software is such a integral part of the modern work environment that it impacts all areas of your business, from how you do things, to who you hire.
- Companies are at risk if they don’t adapt to customer desire for flexibility
- Playing it safe on productivity software can inhibit growth
- Safety means paying for enterprise-software salespeople’s boats
- Smart companies are reevaluating legacy software
- Modern approaches lead to better outcomes.
In episode 2, we covered the ins and outs of collections in the context of running and growing a business. Jason went deep on how to get paid or more precisely, collections....
The one-thing we’ve learned from the the Walking Dead or Evil Dead, is that the tried and true method of eliminating zombies is to destroy the brain. In business, we can’t be constantly destroying our organization’s central nervous system and that’s why digital transformation is tough. That said, you can design your organization’s brain to effectively adapt to rewiring with a sound API strategy.
Price simplicity was once considered paramount to a successful SaaS pricing strategy. The advice was formulaic—establish a value metric, assemble a “good, better, best” tiered plan structure, provide people monthly and annual billing options, and you were off to the races.
“The pain point that every single B2B company shares is pricing.” – https://frontapp.com/blog/2017/02/13/how-we-de-risked-our-saas-pricing-strategy/
Things have changed. Oversimplification of your pricing model may cause your company to leave money on the table. This is because fast-growing businesses, regardless of size, often find they must serve different user types, each with their own willingness to pay, in order to grow.
The first 24 months of a startup lay the foundation for its future success. Young companies redesign the wheel, disrupt an industry, or identify a way to plan an ICO to raise funds off cyrpto-tailwinds. These grand plans don’t need to be bogged down by also reinventing business operations and controls.
Prior to my time at Ordway, I built a checklist of controls, used with my companies, that I feel every startup needs to accomplish during their first two years of operation.
Ordway is on a mission to make billing and revenue automation a reality for growing businesses. The legacy SaaS billing products that were designed nearly a decade ago handle a few use cases well, but they are very rigid and companies quickly discovered that maintenance and customization come at the cost of lengthy projects that gobble up internal resources.