By Kelly Schwedland
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Building the Billion Dollar SaaS Unicorn презентация
Содержание
- 1. Building the Billion Dollar SaaS Unicorn
- 2. Rising Table Stakes Christopher Janz, SaaS Investor http://tomtunguz.com/table-stakes-saas/
- 3. Why a $Billion? – It’s Investable *
- 4. Growth Stage Key Points Terms & Metrics Roadmap Sustaining Growth
- 5. I. Key Terms & Metrics for SaaS
- 6. Impact of Faster Growth on P&L /
- 7. 2. MRR & ARR The First $1M
- 8. LTV > 3x CAC Months to
- 9. 4. Matching CAC, LTV & ACV Product
- 10. 5. Churn = # MRR this month
- 11. 6. Cohort Analysis With a SaaS business
- 12. 7. LVR - Lead Velocity Rate Qualified
- 13. 8. TtV- Time to Value How fast
- 14. II. Roadmap
- 15. 5 ways to build a $B business
- 16. “T2D3” Growth Phases* *Triple twice, double three times
- 17. T2D3 Cont’d Phase 1: Establish a great
- 18. Phase 0: Lean Startup Process http://www.slideshare.net/KellySchwedland/lean-startup-basics-evidence-based-entrepreneurship
- 19. Phase 1: Product/Market/ (Team) Fit The Simple
- 20. Building a replicable model* http://www.slideshare.net/KellySchwedland/generic-system-strategy-flow-chart
- 21. III. Sustaining Growth http://chaotic-flow.com/media/saas-growth-strategy.pdf
- 22. Median GP Ratio by year for Public
- 23. Accelerating Customer Acquisition and Retention Remove Buyer
- 24. Improving Lead to Conversion Ratio Measure and
- 25. Polynomial Growth By Alex Moor, CEO of
- 26. Median revenue per Employee by year since
- 27. “Make no small plans for they have
- 28. Thanks Kelly Schwedland 219-405-5723 Kellys@ElevateVentures.com
- 29. More SaaS Resources http://www.saastr.com/ http://tomtunguz.com/categories/saas/ http://www.forentrepreneurs.com/saas/ http://sixteenventures.com/page/?s=B2B+SaaS Pitching a VC http://www.bothsidesofthetable.com/pitching-a-vc http://www.slideshare.net/KellySchwedland/how-to-pitch-a-vc-or-angel-and-get-funded
Rising Table Stakes Christopher Janz, SaaS Investor http://tomtunguz.com/table-stakes-saas/
Слайд 1Building the
Billion Dollar
SaaS Unicorn
The CEO Guide of Key Insights
and Metrics for B2B Software as a Service Companies
Слайд 3Why a $Billion? – It’s Investable
* Each investor has their own
investment thesis, certain products, markets or business models that they prefer. Look for a good match to your product offering and market validation
Typical Investor Interests:
$1B+ Market
Scalable Solution
Recurring Revenue
Past Successes
Full team
Traction
Слайд 5I. Key Terms & Metrics for SaaS
Cash flow
MRR/ARR
CAC & LTV
ACV
Churn
Cohort analysis
LVR
TtV
If
you only read one article on SaaS metrics this would be the one:
http://www.forentrepreneurs.com/saas-metrics-2/
For Developing a KPI dashboard for a SaaS company:
http://christophjanz.blogspot.de/2013/04/a-kpi-dashboard-for-early-stage-saas.html
For Developing a KPI dashboard for a SaaS company:
http://christophjanz.blogspot.de/2013/04/a-kpi-dashboard-for-early-stage-saas.html
Слайд 72. MRR & ARR
The First $1M ARR Goal – 6 months
Simple
Math:
$1M ARR = $83K MRR
$83K/ $1000/mo. ACV = 83 customers
83/6 mo. = ~ 14 new customers per month
(or one new customer every 2 days, simple!)
$1M ARR = $83K MRR
$83K/ $1000/mo. ACV = 83 customers
83/6 mo. = ~ 14 new customers per month
(or one new customer every 2 days, simple!)
http://sixteenventures.com/saas-secret-to-one-million-dollars
MRR = Monthly Recurring Revenue
ARR = Annual Run Rate (MRR x 12)
Слайд 8LTV > 3x CAC
Months to recover CAC < 12 Months
3.
CAC & LTV: Viability Test
Business model viability, in the majority of startups, will come down to balancing two variables:
CAC: Cost to Acquire Customers
LTV: Lifetime Value of a Customer or The ability to monetize those customers
http://www.forentrepreneurs.com/startup-killer/
Слайд 94. Matching CAC, LTV & ACV
Product Pricing, Sales Strategy and Product
are all interconnected.
http://vcwithme.co/2015/03/30/optimizing-the-ltvcac-ratio/
http://pando.com/2013/06/15/what-the-data-reveals-about-how-to-make-SaaS-secret-sauce/
Average SaaS Companies
Well marketed, easy to use
and easy to implement
ACV= Average Contract Value
VS.
Слайд 105. Churn = # MRR this month / # MRR lost
from last month
http://www.slideshare.net/03133938319/saastr
Big impact on value over time
What’s good, what’s bad
‣ What you want
‣ Get to $1M ARR
~12 months after launch
‣ Net New MRR keeps increasing quarter over quarter
‣ Maintain a Churn Ratio > 4
‣ What to watch out for
‣ A Churn Ratio < 2 – churn is too high /new sales aren’t working
‣ Net New MRR is flat or down quarter over quarter
‣ As a result takes 18+ months to get to $1M ARR
Слайд 116. Cohort Analysis
With a SaaS business there is a simple way
to understand Customer Retention/ Churn through multiple product iterations.
http://andrewchen.co/the-easiest-spreadsheet-for-churn-mrr-and-cohort-analysis-guest-post/
Слайд 127. LVR - Lead Velocity Rate
Qualified Lead Velocity Rate (LVR), your
growth in qualified leads, measured month-over-month, every month.
Grow your LVR about 10-20% greater than your desired MRR growth — you’ll hit your revenue goals.
You’ll see the future of your business 12-18 months out, clear as can be.
Grow your LVR about 10-20% greater than your desired MRR growth — you’ll hit your revenue goals.
You’ll see the future of your business 12-18 months out, clear as can be.
http://www.saastr.com/why-lead-velocity-rate-lvr-is-the-most-important-metric-in-saas/
Слайд 138. TtV- Time to Value
How fast can a customer derive value
from your product?
Ways to Improve:
Simplicity wins… be feature-complete, not feature-rich
Hack the onboarding flow
Document, Document, Document
Quantify, Set goals and Benchmark
Ways to Improve:
Simplicity wins… be feature-complete, not feature-rich
Hack the onboarding flow
Document, Document, Document
Quantify, Set goals and Benchmark
http://www.rre.com/blog/89
Слайд 155 ways to build a $B business
http://christophjanz.blogspot.com/2014/10/five-ways-to-build-100-million-business.html
http://tomtunguz.com/2015-saas-multiples/
In SaaS to get a
Billion Dollar valuation you need somewhere over $100M in Annual Revenue.
You essentially need:
~ 1,000 enterprise customers at $100k+ /Yr or
~ 10,000 medium-sized at $10k+ /yr or
~ 100,000 small businesses at $1k/yr or
~ 1 million consumers at $100+ /yr each or
~ 10 million active consumers who you monetize at $10+ per year each by selling ads
You essentially need:
~ 1,000 enterprise customers at $100k+ /Yr or
~ 10,000 medium-sized at $10k+ /yr or
~ 100,000 small businesses at $1k/yr or
~ 1 million consumers at $100+ /yr each or
~ 10 million active consumers who you monetize at $10+ per year each by selling ads
Examples: 2014 Rev Valuation*
HUBS $115M $1.3B
ZEN $127M $1.9B
MKTO $149M $1.1B
*Also dependent on growth rate and Cost of Revenue. Avg 5-10 x Rev multiples
Слайд 17T2D3 Cont’d
Phase 1: Establish a great product-market fit
Phase 2: Get to
$2 million in ARR (annual recurring revenue)
Phase 3: Triple to $6 million in ARR
Phase 4: Triple to $18 million
Phase 5: Double to $36 million in ARR
Phase 6: Double to $72 million
Phase 7: Double to $144 million
Phase 3: Triple to $6 million in ARR
Phase 4: Triple to $18 million
Phase 5: Double to $36 million in ARR
Phase 6: Double to $72 million
Phase 7: Double to $144 million
http://techcrunch.com/2015/02/01/the-saas-travel-adventure/
Слайд 18Phase 0: Lean Startup Process
http://www.slideshare.net/KellySchwedland/lean-startup-basics-evidence-based-entrepreneurship
Also: The 20 Interview rule
http://www.saastr.com/planning-to-do-a-saas-start-up-dont-forget-the-20-interview-rule/
Note: If you
are still starting out, then you need this presentation:
Слайд 19Phase 1: Product/Market/ (Team) Fit
The Simple definition – When your problems
shift to keeping up with demand rather than finding more customers.
The only thing that matters: Market
Warning signs you aren’t there:
Product Market Fit Myths
The only thing that matters: Market
Warning signs you aren’t there:
Product Market Fit Myths
http://pmarchive.com/guide_to_startups_part4.html
http://vcwithme.co/2014/11/10/five-signs-your-product-market-fit-isnt-real/
http://www.feld.com/archives/2015/01/illusion-product-market-fit-saas-companies.html
Слайд 20Building a replicable model*
http://www.slideshare.net/KellySchwedland/generic-system-strategy-flow-chart
*Documenting the systems throughout the business so
that they can be replicated by the next hire.
Example of a system strategy flow chart
Слайд 22Median GP Ratio by year for Public SaaS companies
How fast?
Rule
of thumb – Growth Rate +Profit Margin should equal 40%... for a $50M business
Early on it should probably be higher.
Early on it should probably be higher.
http://tomtunguz.com/rule-of-40
Слайд 23Accelerating Customer Acquisition and Retention
Remove Buyer Roadblocks:
Increase Awareness
Facilitate Evaluation
Streamline Purchase
Simplify Onboarding
Improve
Retention
Remind Customers of Value they are getting
Triggered up-selling and cross-selling that expanded usage of your service (and revenue)
Remind Customers of Value they are getting
Triggered up-selling and cross-selling that expanded usage of your service (and revenue)
http://chaotic-flow.com/SaaS-marketing-accelerating-customer-acquisition/
http://sixteenventures.com/customer-retention-profitability
Слайд 24Improving Lead to Conversion Ratio
Measure and optimize each conversion channel.
http://blogs.salesforce.com/company/2014/11/b2b-sales-benchmark-research-finds-some-pipeline-surprises-infographic-gp.html
B2B Sales
Benchmark Research by Implisit using Salesforce data
Слайд 25Polynomial Growth By Alex Moor, CEO of Baydin
Overcoming the Growth Challenge
http://www.slideshare.net/500startups/alex-moore-25097027
Polynomial
Growth: The Additive Value of new Sales Channels
Слайд 26Median revenue per Employee by year since founding
Two development tracks one
goal
Efficiency and Product Value always seem to be competing for internal talent.
But they are flip
sides to the same
productivity coin.
http://tomtunguz.com/employee-productivity-patterns-saas/
Note: Best in class companies like Salesforce and FinancialEngines are able to achieve more than $300k in revenue per employee per year
Слайд 28Thanks
Kelly Schwedland
219-405-5723
Kellys@ElevateVentures.com
Have questions?
See something I missed?
Let me know.
Слайд 29More SaaS Resources
http://www.saastr.com/
http://tomtunguz.com/categories/saas/
http://www.forentrepreneurs.com/saas/
http://sixteenventures.com/page/?s=B2B+SaaS
Pitching a VC
http://www.bothsidesofthetable.com/pitching-a-vc
http://www.slideshare.net/KellySchwedland/how-to-pitch-a-vc-or-angel-and-get-funded
