The market is shifting.
Appetite is erratic. In March, 40% of software buyers claimed the pandemic will boost their software spend, but this has now adjusted to just 12%.[TrustRadius]
Customer segments as you know them have changed. The mid-market extinction is looming and consolidation is inevitable.
During this chaos, many tech firms have fallen into two categories:
The first fall subservient to the market. Every new ‘remote working’ and ‘collaboration’ proposition is chased at rapid speed. Before you know it, the end-goal is out of view and the waters muddied with new ideas, use-cases and products in the pipeline.
The others refuse to give up on their rigour and discipline. They stagnate and believe that ‘this too shall pass’ despite a +5.10% MRR growth for B2B SaaS businesses over the last 90 days. [RecurNow]
There is a golden middle ground to survive the chaos.
The hunger, agility and speed to roll a hard six, but with the discipline, rigour and operational strength to make it happen in the context of the 5 year plan.
Why? In chaos, lifting your head from the day-to-day will give you power to make necessary blocks and tackles to battle a shifting market. But furiously entering a fight without the correct armour and discipline will leave you engulfed by the pace of change.
If 90% of time is spent on darting from opportunity to opportunity, find evidence for the one which strikes a balance between tactical and strategic, and focus on that.
If 90% of time is spent on the same things as before, identify the one part of your offering you might be able to 10x in the next 3 months, and put some fire behind that.