🏰 #28 Why copying your competitors is a bad strategy + [Free Resource]

✅ 1 to 3 bite-sized case studies to grow your SaaS

✅ 1 to 3 curated resources from top-notch experts

[Bite-sized case studies]

GROWTH

1) Why copying your competitors is a bad strategy

I found this post from @steveofmcleod via Jason Cohen and had a flashback to my last role as Head of Growth in SaaS company

At that time, we’re a small bootstrapped company doing €2M/ARR.

So many times we were caught in meetings analyzing our competitors “new features” and “roadmaps”.

What a terrible mistake….

Our top competitors were unicorns: Twilio, MessaBird, Mailchimp,
with billions in founding and goals we couldn’t even comprehend.

Not to mention that a new competitor will pop into the space every day.

When you take this approach, the entire space feels doubting…

Also, it keeps you always behind, with lag.
You will always be late to the party.

When copying other is good

Everything we learn in life is by copying what others do.

It’s our human nature, and business is no different.


Copying others definitely can be helpful and can get you started.

I’ve seen many business than just become successful with this principle.

But after a while, you will hit a wall.

Here is what to do instead

🚫 STOP looking at your competitors.

You don’t have their money, resources, connections, or vision.
You’re entirely different to them, and you’re missing your strenghts.

✅ TALK to your customers

Focus on your top 20% revenue-generating customers.
Go and talk with them. They hold the key to your success.

🚫 STOP shipping features because you can

Code is a commodity. What works for them may not work for you.
You’re building your product without direction.

✅ Help your customers solve their unique problems.

Those are the features you need to develop.
By doing this, you became a unique and original provider.


 

GROWTH

2) How to build a “Simple” Growth Model

How do you know where your company’s next growth opportunity is?

The concept of Growth Models and why we use them.

→ How to build one, step-by-step using the template he built at Braid and Vimeo

→ How to simplify some advanced concepts like forecasting and seasonality

What is a Growth Model?

In short, it's a spreadsheet.

Similar to a P&L (profit and loss) model that's used in the Finance world, but it's tailor-made for Growth folks.

It answers these key questions:

📈 How many users and revenue will we have in X months?

🔎 Where should we focus to achieve the biggest wins?

🎯 What OKRs make sense for the Growth team to sign up for?

Enoyed this reading from Ruslan to learn how he built this Simple Growth Model at Vimeo and Braid.

ACQUISITION

3) Relevance over personalisation

Top SaaS Events 2024

Struggling to stay on top of the latest SaaS events?
Have access to our list for free.

What you’ll find:

✅ All the essential SaaS gatherings with type, date, location, description, pricing details, and a link to the event.

✅ Always Fresh Data: Save the link; we’ll update it with future events next year.

✅ iCalendar file to import into your calendar software. (Find the link in row 9)

🛠 TOOL OF THE WEEK

 beehiiv is the tool that I use to run this newsletter. It’s different because it they have built a growth engine in the platform.

It’s a marketplace that allows you to buy or sell subscribers (via referrals).

→ A new channel of acquisition.

→ A new channel of monetization.

Give it a try, it’s hard to find new good performing channels!

📬 SUGGESTION BOX