The confluence of Big Data and high quality, low cost software-as- service (SaaS) programs and applications for virtually every business purpose has made the path clearer than ever as to what entrepreneurs and executives must do to build real equity value in their companies.
It looks like this:
First, utilizing great tools like John Warrilow’s Sellability Score or Dave Lavinsky’s Start at the End we define exactly what we seek for our key stakeholders: Customers, Employees, Partners, Vendors, and Shareholders.
For customers, it might be the efficacy / benefits of our products and services.
For Employees, it might be their opportunities for contribution, professional growth, enjoyment and income.
For Partners and Vendors, it might be what we wish our reputation to be, our brand to represent.
And for our Shareholders, it is the equity value we seek to attain, through our stock price, our sale price (to a strategic or financial acquirer), and / or the future value of our cash flows.
With these end points clearly defined, we then score ourselves – i.e. measure the size and nature of the “gaps” between where we are and where we want to be.
Now, for almost all businesses, completing this scorecard requires accessing various SaaS programs, both paid and free, to “get the data.”
For Customers, tools like Survey Monkey, Cint, or Zoomerang to measure their satisfaction.
For Employees, tools like LinkedIn, Glassdoor, Salary.com, and Great Places to Work to compare how happy and energized our people are versus Best-of-Class.
For Shareholders, data and intelligence providers like CapIQ, Compete.com, IBIS, and Axial to rate ourselves against competitive and comparable companies.
We then turn to “the Micro SaaS” – the various “Cloud” programs and applications on which our business partially, mostly, or completely runs.
Programs and applications like Google Analytics, PIWIK, Clicky, and KISSmetrics for our web marketing performance, Salesforce, SugarCRM, Infusionsoft, and Marketo for lead conversion and sales teams, ECI, Sage, Intacct, and Basecamp for operations and project management, and QuickBooks, NetSuite, and Xero for accounting and finance.
Now, here is where, in the last 18 months, the game has really changed.
For the first time ever, we can now automate both the measurement of where we stand against our goals and the Gap Analysis of what we need to do improve results.
This is because the long hoped for promise of business intelligence dashboards, tools and services has reached a tipping point, as best evidenced by the massive financing attained by companies like Cloudera and Domo, and by the incredible traction that smaller company-focused business intelligence dashboard tools like Geckoboard, Leftronic, and my company’s product Guiding Metrics have gained.
Combining Exit Planning, SaaS, and Dashboards allows us to automate our strategy, defining what we want to achieve and understanding the industry, market, and competitive landscape we must prevail in…
…and our tactics, the day-to-day marketing, sales, operations, and financial nitty-gritty needing to be done to get there.
And as we attain this seamless integration and automation, we in turn get closer to realizing the ultimate business dream…
…sitting back and watching the dollars and the victories roll in while enjoying and not killing ourselves in the process!
Pretty cool, eh?