Marketing is everything you do to acquire customers and maintain a relationship with them, but the ultimate goal of your marketing efforts — whatever those may be — is to match a your company's software to the people who need and want it.
Should software companies be more concerned with top-line or bottom-line growth? The honest answer is that you need both.
Charles Foley, senior vice president at Talon Storage, is a seasoned high-tech executive with experience in enterprise computing, storage and storage networking, and software. A board member for both public and private companies, Charles has experience building and growing dynamic, fast-moving teams in the high-tech industry including fundraising and liquidity, strategic development, and positioning for long-term success. Charles took time to speak with Software Business Growth about how successful tech companies set themselves apart from those that struggle, as well as offers advice on outsourcing and scaling.
For software companies it is all about bringing the fastest, most scalable, reliable, and secure options to the marketplace whileadvancing customers to the next level so more can happen, more information can be shared, and more knowledge can be collected and saved. As a software developer and vendor, it is not enough to approach a potential client and claim your tech offerings are bigger, faster, bolder and safer than they were last year. You’ve got to prove your claim in the software business world, every single day.
One of my favorite quotes from the legendary business book “Built To Last” by Jim Collins and Jerry Porras is: “All products, services, and great ideas, no matter how visionary, eventually become obsolete. But a visionary company does not necessarily become obsolete, not if it has the organizational ability to continually change and evolve beyond existing product life cycles." If you work in the software space, I’m sure you can relate. That’s why Built To Last is a must-read for anyone serious about building a sustainable, profitable software company.
I’ve just been reading a SaaStr post that asks the question: can remote SaaS companies scale as effectively as those with co-located teams? It’s a great read which has inspired some of my own reflections and a question. Do remote (distributed, virtual) SaaS companies have an advantage?
In the software startup arena, great companies are built upon great products. Without the strong foundation of a solid product that delivers on customers’ needs, any company will struggle to get out of its own way on the road to success, despite plentiful VC investment and a deep sales bench.
The valuation of a company and its price per share are closely related. When a company starts out, its stock is essentially worth nothing, which is why its price per share is $0.00001. I’ve spent the past four years reviewing the value of startups and performing private stock valuations for companies ranging from in-the-garage and idea-stage companies to OfferUp and Kickstarter. Sometimes, when early-stage startup founders want to exchange their shares for services or supplies, they’ve approached me to assess the value of their stock.
Gust Launch starts with the incorporation process, a necessary first step for establishing all the other components of your new company’s operations. Many founders have been told that they should incorporate their startup initially as an LLC, but we built Gust Launch with only one option for startups’ legal entities—and it’s not an LLC.
A critical decision in the early days of your startup is the equity split. You may have co-founders, or you may be on your own, but these early decisions have downstream consequences on things like hiring, taxes, and legal complexity. Establishing ownership is also necessary to complete company formation, so you’ll face this soon after you incorporate. If you avoid this, your corporate formation will not be complete. There is no one right approach to dividing the ownership of your company, and every case is different. But the factors that might go into your decision are quite common.
SoftwareBusinessGrowth.com seeks to inform and advise the software community on the best opportunities for business success, where developing killer code simply isn’t enough. At SoftwareBusinessGrowth.com, software companies learn the management, sales, marketing, HR, operations, support, finance, customer success, product, and partner development strategies that will take their solutions out of the testing and into the hands of more users. Through a daily stream of news and exclusive insight served up by winners in the software community, our multimedia newsletter, webinar, event, and site content helps readers build value for their software businesses.