Growing your SaaS business: 5 ways to leverage Growth Debt

Growing your SaaS business: 5 ways to leverage Growth Debt

1. Hire a VP (head of) Sales or Marketing

- One of the hardest roles to hire for, but could have a major impact on the business. I would still suggest founder led, but they can support / amplify. Don’t hire people that have a plan of hiring people. The right one will have an action plan of what they will implement in their first 90 days and do the work. Jason M. Lemkin has lots about hiring for this role.

2. Double down on Go-To-Market campaigns that deliver results

- Make sure you calculate the fully loaded cost to run these campaigns. That includes salaries and tech stack. Check out this ad spend calculator from Qwilr to ensure you're making data-driven decisions: https://lnkd.in/ghYsG8Dw ^HT Mark Tanner still one of my favourites!

3. Hire SDR/BDRs

- If your Annual Contract Value exceeds $7,500, your sales cycles likely justify the cost of a dedicated SDR/BDR. Prove it out before building a team.

4. Hire a new Account Manager

 If you see lots of expansion revenue from your existing customers, and you already have 1-2 account managers and they are busy and profitable, hire another.

5. Hire marketing people

- A part time content person, a marketing specialist to support the Director/VP Marketing, a dedicated channel partner, a creative support, etc. This will depend on what initiatives are working.