Everyone who is a business owner knows that revenue is a primary concern. However, should it be the overriding focus for you? Should increasing revenue be the one true thing you’re working on to the exclusion of everything else? Of course not. The answer is clear: No. You must work on your team and your offerings and make customers happy. In fact, my idea is that revenue shouldn’t matter as much at all.
What you should be concentrating on, even during the hardest times, is refining and ensuring your offering is the best it can be. Then, add something extra that you didn’t offer before. Especially now, with the economy the way it is and all the associated issues, it’s hard to pay attention to anything else. The reality of the situation is that focusing solely on revenue can negatively impact what you deliver to your customers. The less you offer, the more you try to hold on to your current practices, and the more you resort to gimmicks, the less customers will want to work with you.
A prime example of this is the story of Kaseya and Automate. Kaseya used to be the biggest player in the market. They had market dominance and a significant lead over everyone else. At one point, it was inconceivable that they could be overtaken by anyone. Then came Automate, initially called LabTech and colloquially known as TabTech. They were not the best starting out; the interface was archaic, the integrations were limited, and it came with a horrible VNC that worked half the time, only after performing a ritual and rolling a die for natural 20s. However, they improved and concentrated on the things that people needed.
Automate introduced Ignite, which was a disaster at first. But they continued to improve it, and it got better, providing an initial baseline of monitors, scripts, and groups. They expanded integrations with different antivirus solutions such as Webroot, ESET, and Vipre. Eventually, they purchased ScreenConnect and integrated it with Automate, which remains one of the greatest aspects of Automate to this day.
Through these improvements, Automate dominated the market and became the go-to RMM product. The steps taken by the old guard have allowed Automate to maintain a leading edge over everyone else to this day. Even with the changes in focus to their new CWRMM product, Automate remains one of the leading products in the RMM market. This tale of Automate is a cautionary one, illustrating the benefits of focusing on making your offering the best on the market and the consequences of only seeing and talking about the bottom line.
As a business owner, the key takeaway is clear: customer satisfaction should be your main focus. When you refine your offerings and consistently add value, you create loyal customers who will stick with you through thick and thin. It’s not about how much you can sell but about how much value you can provide. Revenue will naturally follow when you make customer satisfaction your top priority.
In conclusion, instead of fixating on revenue, shift your focus to making your product or service the best it can be. Take a leaf out of Automate’s book: listen to your customers, make continuous improvements, and integrate valuable features. By prioritizing customer satisfaction and refining your offerings, you’ll not only keep your existing customers happy but also attract new ones, ultimately leading to sustained revenue growth. Remember, a satisfied customer is the best business strategy of all.
