Building a SaaS platform for big corporates involves a strategic approach that takes into account the unique needs and preferences of these organizations.
Firstly, understand the corporate's pain points and needs. This is crucial in developing a product that stands out against the competition. As the content suggests, there is often a disconnect between what executives believe about their product and what customers actually think.
Secondly, aim for the top quintile. The power curve shows that companies in the top quintile capture nearly 90% of all economic profits. Therefore, your SaaS platform should aim to provide exceptional value that places it in this top category.
Lastly, be prepared for high-uncertainty problems. Strategy is challenging because it deals with low-frequency, high-uncertainty problems. Therefore, your SaaS platform should be flexible and adaptable to handle these uncertainties.
In terms of piloting, identify corporates who are most likely to benefit from your product and approach them with a tailored proposal. Highlight how your SaaS platform can solve their specific problems and add value to their operations.
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McKinsey & Co. partners wrote this book. How do you effectively turn the promises of strategy meetings into reality? How can you manage social dynamic...
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Survey shows that 70% of executives say they don't like the strategy process, and 70% of board members don't trust the results. Strategy is challenging because it deals with low-frequency, high-uncertainty problems that are prone to cognitive biases. These biases typically reinforce favorable narratives. A study found that 80% of executives believe that their product stands out against the competition, while only 8% of the customers agreed. The economic profit graph of companies follows a power law with a long flat middle and tails that rise and fall at exponential rates. Companies in the top quintile capture nearly 90% of all economic profits. Their average economic profit is $1.4 billion a year as compared to a mere $47 million for companies in the middle. This Power Curve is growing steeper with time. The companies in the top quintile collectively made $684 billion in economic profit from 2010 to 2014, while the bottom quintile made a collective loss of $321 billion. From 200...
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