A strategy gaining in popularity to achieve responsible scale is product-led growth (PLG)-think Slack, Calendly, Expensify, and Dropbox-companies that have shifted power from the buyer to the end-user. If you want to meet the demands of today’s market while growing sustainably, PLG is the secret.
The key to long-term profitability
Minimizing the time between developing a product and providing it to customers while maximizing the number of customers that come in contact with the product allows for fast and sustainable growth.
- When products solve a real problem for end-users, freemiums can lead to SaaS growth.
Build the Culture and Vision
As a company scales, articulating the company culture and vision becomes more important
- Hire people who will advance the mission
- Have intentionality around core company values
- Speak fluently about the product and have the skills to support the company’s future growth
Listen to the Customer
The most successful, high-growth companies listen to their customers and value their opinions.
- PLG puts their customers first to grow quickly and profitably and reach the distinction many strive for but few achieve.
- Only 0.0006 percent of all companies will become unicorns, and it takes an average of seven years to get there.
