Questions

What steps would you take to accelerate the growth of a software business with limited resources (no VC)?

In my specific case, my software is a templating system that helps doctors save time when doing their notes. It can potentially save 1-2 hours/day. Currently, the business is growing at 40%-50% annual rate, without investing anything in marketing. Traffic has been steady and growth is driven mainly by recommendations of happy customers (+ a bit of google traffic). My goal would be to build a more predictable customer acquisition plan.

4answers

You have limit time and resources so you need to think what I call "FIRST DOLLAR" approach. If you look across different modes to sell and target there has to be a few that would be the optimal. Focus only on those first don't look elsewhere - put each next dollar of effort into these (or this one) until it's optimal then target the next bucket to attack until you get momentum to broaden.
There has to be a few or one area that would harvest better or best results w you time. The idea here is to get the sales/revenue flywheel turning w focus or richest buckets of opportunity to create revenue momentum to allow you to scale.

1. Partnerships with those who sell into doctors - preferably similar Catagory (tech. IT. Time optimization. Software).

2. Work your customers and fuel the flames of referrals with those Dr using your product. Ask them "is there some one you can suggest that might also benefit from this?" A warm referral is sales gold. "Dr xxx suggested I show this to you".

3. hire college interns.

Congrats on "going after it


Answered 3 years ago

Sounds like you need to learn a consistent sales process.

The uninitiated whine, "But...my business is *different*!" No, it's not.

Yes, there's tweaking and individual numbers and so on, but the basic process for customer acquisition is always the same...regardless of industry involved or technology used.

If you want to learn this process, let's talk.


Answered 3 years ago

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