As a SAAS Leader, I am sure you have seen Bill Gross’s massively motivational speak entitled: “The single biggest reason why start-ups succeed” at TED2015?
Bill is the Founder of the longest running Technology incubator in the world, “idealab” who have created over 150 companies with more than 45 IPOs and Acquisitions.
When Bill analysed the Top 5 factors in success for more than 200 tech companies, he believes the following 5 factors are the most important aspects to get right in this order: Timing, Team/Execution, Idea, Business Model and finally the Funding.
Our own 2017 survey research* of 434 Enterprise Software Executives and their subsequent feedback is more focused around “you”, the SAAS Firm Entrepreneur. As Bill mentioned, the second most important factor for success in having the right team and that of course includes the Leader(s).
Now, please ask yourself these 6 questions:
- How strong is your sales ability and knowledge of selling processes?
- How strong are your leadership skills?
- How would you describe your focus or strategy?
- Re: Execution, are you able to transform your strategy into a commercial success?
- Do you have the experience to make the venture a success?
- Are you perhaps too technically or product led?
If you feel you can give the right answers to all of the above, then clearly you are an exceptional leader and will have a massive chance of success in the future, however, if you believe there are some areas of potential improvement, then please read on.
In no particular order, we found that the 6 main flaws in a SAAS Firm Leader’s skillset are as follows:
- Poor Management skills
- Lack of focus and vision
- Poor Execution
- Lack of Sales ability
- Too technically or Product Led
To view the the rest of the report, including “The Top Reasons Why Software Start-ups Fail “ please click here to access it >>>