When you look at the rapid pace of product innovation and even implementation, you will see that the SaaS business model requires various executives who thrive on having aggressive timelines and constant change. The SaaS market is expected to rocket in value and a lot of companies are now eager to try and transition from a traditional license model to one that is more involved. Companies are also finding themselves having to evaluate whether or not the teams that they have are able to meet the demands that come with the SaaS model, or whether they need to hire people externally, relying on them to learn the product while also being able to deliver good results.
Why is it Important to Have a Partner Ecosystem?
A partner ecosystem will extend your digital footprint and it will also amplify the market value share. This will give you an undeniable edge when it comes to your competition.
What Is a Business Ecosystem Strategy?
Ecosystem strategies often contain a broad sphere of influence and it is also based on dynamic intent a lot of the time. It will impact your tech framework and it will also apply to every industry.
How do you Adopt An Ecosystem Strategy?
You need to evaluate the landscape you have and you also need to know which systems are complementary and which ones aren’t. Reach out, establish relationships and also create a strategy that works for you.
Boards and CEOS
Boards and CEOs of companies often find themselves having to constantly evaluate so they can find out if their leadership teams, who probably lack experience when working in a dynamic environment, should be hiring externally or if they should be relying on the team they have to deliver results. A lot of software companies have had to learn the hard way here that moving to SaaS and working with partners involves a lot of dramatic change and that this has implications for nearly every aspect of your company. Calling for executives who have a very specific leadership DNA may sound important. That being said, there are in fact three main drivers that can help you to make sure that everyone has the leadership traits required to progress while also setting up the organisation for success over the long term.
Customers are the Root of Everything
The days when organisations once had to garner customer demand for things like product launches every few years are long gone. SaaS is now a double-edged sword and even though solutions can easily be updated and changed rapidly, it is possible to turn them off just as fast. As the market becomes ever more saturated, it also becomes more competitive too. Customers have more choices than ever and they can switch providers in no time if they do not feel as though they are having their expectations met. So the big question is, do you feel as though you have what it takes to shift to SaaS? Ideally, you need to ask yourself questions such as, can you provide an example of where customer feedback led to innovation or even enhancement? And has customer input caused you to adopt a much more flexible solution? By focusing on questions like this, you can be sure to reap the benefits overall.
Excellent Execution
The SaaS model presents a lot of opportunities, but at the same time, it also comes with a lot of challenges. You will have to deliver game-changing solutions and you will also have to adopt a lot of new products and technology. You will have to do this in response to customer feedback too. rapidly adjusting solutions requires you to have a high intellect as well as a good level of learning agility. If you adjust solutions, then you need a team who are already predisposed to being able to absorb and then apply this information quickly. Partners are able to do this, but can your executive team?
Data Can be Somewhat Dangerous
When you look at the huge amount of data that comes pouring in, you may find that this can easily overload your senses and in some instances, it can actually obscure what is important to you. Senior leaders have to have the discipline required to see the bigger picture overall. They need to be able to pick up on two or three issues and then refocus their team or their companies. Strategy is critical here. At the end of the day, it can be difficult for you to discern whether or not a leader has the ability to hone in on what is important and what is not. Robust interviews can help you to know if your leaders are connected with your data or if they have an analytical mindset. If your leader does work this way or if they are able to adopt this well, then you will soon see that it is more than possible for you to help your team to make the most out of the sales you are getting. Your leaders and your partners have to be on the same page at the end of the day because if they aren’t then this will work against you in more ways than you realise. You may find that your sales are not as strong as they could be and that you are not able to succeed as much with your targets. By ensuring that your leaders understand your partners, and by making sure that your partners know your leaders, you can then make sure that everyone is able to make the most out of the work that they do, and the effort they are putting in.