Jack Ma built Ali Baba, one of the largest ecommerce platforms in the world by strategically excelling at e-commerce, logistics, and finance. If you think through, an ecommerce business would be crushed if any one of these functions fails to operate. And, Jack Ma introduced this as a paradigm to the world, calling it the ‘Iron Triangle’
Now what does Jack Ma’s analogy have to do with growth? Read further…
To accelerate growth, you need to strategically figure out, what I call the ‘three pillars of SaaS growth’ – Goals, Team, and Processes. Without these operating in sync, your efforts might start to fail in the long run.
Define the objectives you need to accomplish. At which stages of the funnel, growth initiatives need to be focussed? List down a set of targets along with the key performance indicators (KPIs) you need to improve. Your goal should be to push these KPIs towards a positive
It would be best if you had a highly agile, creative, and data-driven team to execute and optimize your growth activities. The growth lead needs to identify the roles and skills required to realize the objectives. The growth team should follow a proven model to structure hierarchies
and operations. As your business scales, expand your growth team to fit the requirements.
Operational standards need to be set up to enable the members of the growth team to work methodically. This process helps the team to implement the strategies, measure its impact, and optimize effectively. A defined process is rewarding when the growth team faces more
challenging objectives, as the product scales and the market matures.
We will be dissecting each section in detail as we move through this series.