The Martell Method w/ Dan Martell

Exclusive Resource: Cancellation Capture System™ - The Flow, Design and Copy You Need To Save Cancellations & Learn as Much as You Can Before a Customer Leaves - https://bit.ly/3jIn03s 

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It’s the thorn in every SaaS founder’s side…

The number that keeps you awake at night:

Your churn rate.

Churn equates to invisible dollars that slip through your fingers. The lower that number, the more successful and exponential your capacity to grow.

But how exactly do you measure churn?

There isn’t just one number.

There are multiple different measures of churn you should know.

Today I’m going in-depth into the different types of churn, and strategies to monitor, control and minimize that deadly number.

In this video, I’m going to simplify and explain churn in a way that you can apply. You’re going to learn:


- How to measure churn

- Logo churn vs revenue churn

- What is net negative churn

- SaaS industry churn % standards

- How to know if your churn is good or bad

- Churn prediction methods

- The 20-60-20 rule for developing anti-churn software


If you’re a seasoned SaaS pro, churn might look like a beginner’s topic. 

It’s not.

Sure, it’s one of the first numbers a SaaS founder should measure, but it pays to remain obsessed about that number.

If you can make any changes to your churn rate, your company will grow. 

It’s that simple.

Looking forward to hearing from you in the comments on the video.


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Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.


+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell 

Exclusive Resource: Cancellation Capture System™ - The Flow, Design and Copy You Need To Save Cancellations & Learn as Much as You Can Before a Customer Leaves - https://bit.ly/3jIn03s 

Exclusive Resource:  Precision Scorecard™ - Keep Your Leadership Team Focused & Accountable To Growth - https://bit.ly/3jm3PMv 

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When I was 29 years old, I was pitching to investors for funding. 

I’d breezed through my pitch deck, million-dollar smile on my face despite my shaky nerves when they asked:

“What’s your CAC?”

‘Yeeeah! I got this’, I thought to myself.

CAC stands for ‘Customer Acquisition Cost’ and I had done the math. Smugly, I dropped an impressive number.

The investor’s eye’s lit up.

“Really? Wow!... But is that your Fully Loaded CAC?”

The room went so quiet you would hear a pin drop.

My jaw hung open, and I still cringe when I think of the dumbfounded deer-in-the-headlights look on my face.

All I could think was, "What the heck does fully loaded mean?”

I made a fool of myself that day.

Today I’m going to show you how to calculate your Customer Acquisition Cost - fully loaded - in just 3 easy steps so you never look like a fool in front of anyone.

If you want to make investors drool over a stake in your company, then you’ve got to know your numbers.

See, investors want to avoid risk at ALL costs.

They’ll pass on a promising business if the founder doesn’t know the right numbers. 

Numbers don’t lie, and neither does your fully loaded CAC.



This is a quick dose of metrics-math. Check out the video here and don’t forget to subscribe to my YouTube channel while you’re there.


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Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.


+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell


Exclusive Resource: Precision Scorecard™ - Keep Your Leadership Team Focused & Accountable To Growth - https://bit.ly/3jm3PMv 

Exclusive Resource: Dream 100 – Learn How to Identify The 100 People That Will Transform Your Life - https://bit.ly/2T8CwL2

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Have you ever wanted to cut a toxic person out of your life before?

It’s a more common feeling than you think.

Maybe there’s an old high school friend, a buddy from college, a distant relative… Whoever it is, you know in your gut that this person is toxic and brings negative energy to most conversations.

The question is:

Is it ok to cut them out of your life?

I think it is.

Negative influences can distort your self-belief and cause you to lose faith in your pursuit of a better life. It’s important to do something about those damaging relationships.

But there is a right way to cut people out. 

(Don’t be an @sshole!)

The more you grow and change, the more you realize that some people you know just don’t support your growth.

Here’s how to cut people out of your life and move towards building a network of positive people without feeling guilty.

Maybe this is a topic that makes you feel uncomfortable, but remember this: I went to rehab when I was 17 years old.

I was the toxic kid that other people needed to cut off. 

And I knew it.

A big part of my rehabilitation was to cut myself off from other negative people and build a supportive network of positivity while learning to be a positive influence on others too.

It made my growth possible.

If you want to grow, I believe you need to take a ‘friendventory’ and think carefully about your network.

If you do it the right way, it is not selfish.

It could be exactly what you need right now. Don’t you think?

Would love to hear your thoughts in the comments.

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Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.


+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell


Exclusive Resource: Dream 100 – Learn How to Identify The 100 People That Will Transform Your Life - https://bit.ly/2T8CwL2 

Exclusive Resource: Dream 100 – Learn How to Identify The 100 People That Will Transform Your Life - https://bit.ly/3lD1gHv

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I can tell if your business is going to scale successfully by asking one question:

Do you have a business coach, mentor or advisor?

If your answer is no… I’m worried for you. 

Hear me out.

Succeeding in business means making the right decisions frequently. 

I’ve seen small companies dominate in niches that were owned by big-business giants simply because they made better decisions.

But I’ve also seen companies run themselves into the ground in less than 12 months because they made too many wrong decisions.

As a founder, you’re faced with million-dollar decisions every day, even if it doesn’t feel like it. 

You’ve got to know what to say YES to, and when to say NO.

Without any shred of doubt in my mind, I know the best way to consistently make winning business decisions is to:

Get advice.

My first two companies were failures, but my 3rd made me a millionaire. My 4th and 5th were even more successful again… Why? Because I got advice. 

Business coaches, mentors, advisors – I’ve hired them all. I’ve even been advised by:

- Mark Cuban, Billionaire
- Travis Kalanick, founder of Uber
- Richard Branson, founder of Virgin
- Eric Ries, author of The Lean Startup
- Sean Ellis, founder and CEO of Growth Hackers
- And many, many others

I invest over $250K a year (pre-Covid) on coaching, meeting mentors and seeking out strategic advice from experts.

I’m telling you… don’t try to be a business genius on your own. Find someone that can advise you.

And if you want to know how to find the right advisors for your business, then you’re in luck:

That’s what my latest video is about.

Advisors know their value and sometimes they’ll offer shady deals in exchange for their million-dollar advice. In this video, I’ll share with you:

- How to find the right advisors
- How to identify when you need advice
- What kind of deals you can expect with an advisor
- Why I won’t give equity for advice
- How to leverage social currency
- Dealing with an advisory board
- How to communicate with an advisor

The purpose of this video is to demystify how these kinds of business relationships work.

It can feel strange to hire someone just to point you in the right direction and help you choose right from wrong in your own business.

It felt weird to me the first time I did.

But once you feel the weight come off your shoulders knowing that you don’t have to have it all figured out, you’ll realize how infinitely valuable advice is.

Good advisors really can make or break your business.

Got any other questions about how these types of business relationships work? Leave me a comment below.

--

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.

+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell

Exclusive Resource: Dream 100 – Learn How to Identify The 100 People That Will Transform Your Life - https://bit.ly/3lD1gHv

Exclusive Download: EBR Flow Planner™ - 9 Box Model to Run Your Executive Business Reviews, Retain High-Value Clients & Increase Expansion Revenue - https://bit.ly/3l5q1Mp 


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Let’s pop the hood of your SaaS retention engine.

The machine that creates your revenue, that turns new customers into long term LTV...

Pry apart each leaky valve, tighten each bolt and make sure you’re running a fine-tuned growth-maximizing machine.

I’ll give you the 3 tools I recommend to improve EACH of the 8 key parts.

I love SaaS business models because they’re ideal for generating cumulative wealth…

Provided you have a great Customer Success system.

If you don’t, churn rates slowly creep higher and higher and the LTV of each customer drops.

I’ve identified that there are 8 key areas of a flawless Customer Success system that require a solution. In each category, there are multiple tools and tech you can use.

I have a recommended list of those tools, the ones I’ve used in business and can stand by. 

If you’re not sure where to start to improve these categories, watch this video and try out my suggestions. Your churn rate will thank you for it.

In each of these 8 categories, I’m going to recommend 3 tools. The categories are:

1. Adoption Management
   
   
2. Co-Browsing
   
   
3. Calendar
   
   
4. Surveys
   
   
5. Metrics
   
   
6. Helpdesk
   
   
7. Screen Recording
   
   
8. Status Page
   
   
   

You need a solution for each of these 8. If you don’t, then there are parts of your customer’s journey that will let you and your customer down.

There is no miracle cure-all for crushing churn rates. It’s all about excellent customer success systems.

But I’m not going to apologize for that.

You’re a business founder, SaaS owner or entrepreneur, right?

That means you’ve got to roll up your sleeves and fight the hard fight, figuring out how to grow and scale your business. It’s not easy, but it is worth it.



Got any other favourite tools you think other SaaS founders should know about? Add them in a comment on the video right here.

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Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.


+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell

Exclusive Download: EBR Flow Planner™ - 9 Box Model to Run Your Executive Business Reviews, Retain High-Value Clients & Increase Expansion Revenue - https://bit.ly/3l5q1Mp 

Exclusive Download: Top 5 Productivity Hacks – Double Your Energy & Focus By Just Tweaking The Way You Do Everyday Tasks - https://bit.ly/3cfrDQs

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What does success mean?

Get specific… what exactly does it look like to you?

Is that word just a placeholder for some anonymous measure of public respect and acceptance? Is it about bank account zeros?

My idea of success has changed… a lot. The answer I’d have given you when I was 21 is nothing like the answer I’d give you now.

Why?

Because I grew the F%$& up.

When I became a millionaire at 27 years old, I realized that I wasn’t anywhere near as successful as I wanted to be.

The elusive dream had changed.

Since then, I’ve taken the time to really decide what success looks like to me so I know what I’m aiming for.

Now I’d like to share my perspective on what that is.

I haven’t shared this before because, to be honest… it’s kind of personal. 

But I’d like to share it because every problem became much more manageable when I knew where I wanted to end up. Perhaps you need that clarity too.

I’ve learned that success is different for everyone. 

It’s subjective.

One person thinks it’s about the body they’ve got, another thinks it’s the car they drive, yet another thinks success is the property they own or the friends they have.

Have you noticed how you can use ‘success’ in a conversation and everyone assumes you must mean the same thing?

“10 steps to success”, “How to become successful”, “Success is just…”.

It can be a dangerous concept because we all want “it” without taking time to define what “IT” actually is.

Don’t chase an unknown dream.

Set the goal posts in the right place and don’t worry what anyone else thinks.

I’d love to know what real success looks like to you. Drop a comment on the YouTube video right here and let me know.

--

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.

+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell

Exclusive Download: Top 5 Productivity Hacks – Double Your Energy & Focus By Just Tweaking The Way You Do Everyday Tasks - https://bit.ly/3cfrDQs

Exclusive Download: EBR Flow Planner™ – 9 Box Model to Run Your Executive Business Reviews, Retain High-Value Clients & Increase Expansion Revenue - https://bit.ly/2Fkf9uX

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“HELP! I’m losing customers in the pandemic!”

As a SaaS Coach, I worked very closely with a lot of software founders who are nervous that their businesses won’t ever recover from coronavirus.

Customers are cancelling, accounts are drying up, and prospects are turning into dust.

We have never seen a global economic meltdown quite like this one… so the concern is 100% justified.

But listen to me: You are not powerless.

Today I’m going to give you a crystal ball.

I’m going to share my go-to system for identifying ALL of your at-risk customers before they cancel… and then how to save those accounts.

It’s like predicting the future and fixing it all at once.

I’ve been using this system with my SaaS clients to help them crush their churn rates to below 1%.

…even in the middle of a pandemic.

Watch the latest video below and I’ll walk you through how to maximize your customer retention.

In this video, you’re going to learn:

How to maximize customer retention + profits
How to find out WHY customers are unhappy
What to say that will win them back
What a critical event is
Why churn has nothing to do with software
How to identify red flags as early as possible
How to use accountability to save ANY customer

The trick is to have a system that alerts your support team when customers exhibit specific pre-churn behaviours, such as not logging in for a set amount of time, disengaging from support chat, or visiting cancellation pages.

Customers that meet enough of those conditions are in the danger zone.

As soon as those red flags appear, you then need to execute the Red Playbook – a system to save those accounts, correct the relationship and turn them back into raving fans.

With the right playbook, at-risk customers won’t have a good reason to cancel.

A system like this works.

Now more than ever, you’ve got to stay ahead of your at-risk risk customers and spot the red flags early.

Your business depends on it.

Remember, I’m here to help. If you’re tearing out your hair and not sure what to do with your business, reach out to me and my team.

--

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.

+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell

Exclusive Download: EBR Flow Planner™ – 9 Box Model to Run Your Executive Business Reviews, Retain High-Value Clients & Increase Expansion Revenue - https://bit.ly/2Fkf9uX

Exclusive Download: Dream 100 – Learn How to Identify The 100 People That Will Transform Your Life (Peers, Advisors & Mentors) - https://bit.ly/3m1hI5i

--

A few weeks ago, I owned up to the biggest mistakes I made in my 20s… mistakes that cost me literally millions.

This video is the sequel.

Believe it or not, when I turned 30 I didn’t magically become an angel, with a perfect track record of success. 

(Shock! I can hear your gasps from here)

I squared up to that decade as a new man, confident and determined to avoid past mistakes.

…but immediately started making new mistakes!

The reason I’m sharing this is:

1. To humanize me (I’m not a flawless success story, I’m a patchwork of mistakes.)
2. To show you that mistakes are ok (Heck, they’re necessary.)
3. So you can avoid my mistakes (Don’t screw up the way I did.)

My 30s started out strong.

I was on the brink of exiting my second company, Flowtown, ready to add a few more zeroes to my bank balance.

Right after that, I started Clarity.fm and without any help from co-founders, I scaled the company, closed $1.6M in funding from investors like Mark Cuban, then successfully exited that company too… 

…and then launched one of the biggest YouTube channels for SaaS Entrepreneurs.

But during this decade, I faced a new beast:

Myself.

My 30s was full of mistakes that came from within me. Broken thinking.

I had to reinvent myself – more than once – to become the leader I needed to be.

Please… don’t make the mistakes I did. 

Watch my latest video where I roast myself, shake your head at my expense (I encourage it) but don’t repeat my screw ups.

Today I’m sharing with you:

- How I lost 30 – 40% in market value by drifting
- The wrong narratives that shaped my leadership
- The day I knew I crossed the line (and I had to change)
- My anti-portfolio mistakes
- How I passed on a $250M company *face-palm*
- Why I have 3 coaches… right now

Look, I get it.

Every advert in your feed, every case-study in your inbox, every silicon valley interview is screaming “SUCCESS!!” right in your face.

You just want a break, right?

I hope you can see that that’s why I make these videos.

It’s not to show off or to wave dollar signs in your face.

It’s because I want you to live a better, more fulfilling life while growing a richer business.

That’s what motivates me even if it means sharing my embarrassing mistakes. I hope you can see that I’m doing my best to help.

Peace.

-- 

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.

+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell

Exclusive Download: Dream 100 – Learn How to Identify The 100 People That Will Transform Your Life (Peers, Advisors & Mentors) - https://bit.ly/3m1hI5i

Exclusive Download: Precision Scorecard™ – Keep Your Leadership Team Focused & Accountable To Growth – https://bit.ly/2GfadaI

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If you want to stop an investor like me dead in their tracks, show them these 7 numbers.

With the right combination, they’ll fall over themselves to throw money at you.

Beg to invest.

Yes, even in the middle of a pandemic, when the world feels like it’s balancing on a knife’s edge…

These 7 numbers will show me your entire company’s health.

Scribble it on a napkin, drop it right in front of me…

And I’ll tell you: Yes or No.

I’m talking about the top 7 customer success metrics you need to measure. 

I don’t care what you read about a CEO in magazines, how many Maseratis they own, or if they flew in on a private jet.

These numbers are the matrix code that reveal the TRUTH about any company.

I’m telling you right now, in your inbox, from me to you–

If you aren’t measuring these customer success metrics, you don’t know your own business.

So this video is for you. These are the numbers you’ve got to start measuring ASAP, including what they are and how to track them:

The reason the 7-number password can unlock an investment frenzy it because it immediately tells me:

1. How good your product is
2. How I can help you earn more
3. Your growth potential
4. Where to unlock lost revenue streams
5. If you’ll survive a new competitor in the market
6. What marketing opportunities you can leverage
7. What holes need plugging in your revenue

Over the last 5-7 years, I’ve been involved in hiring over 50+ CSMs (Customer Success Managers) across my portfolio of 40+ investments and my own companies.

To make sure that any CSM I hire will hit the ground running, I just say “These are the 7 metrics I need you to measure – find the numbers and report them back to me.”

The simple act of knowing these numbers makes it painfully obvious where you need to turn your attention.

Get a notepad and pen ready and start the video here.

--

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.

+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell

Exclusive Download: Precision Scorecard™ – Keep Your Leadership Team Focused & Accountable To Growth – https://bit.ly/2GfadaI

Exclusive Download: 5 Secrets of Silicon Valley – Discover My Silicon Valley Secrets To Skyrocket Your Business by Implementing 5 Little Changes That No One is Talking About - https://bit.ly/2Q1xfTW

--

I’ve got to come clean…

I’m not a guru.

I can’t read your future, don’t perform miracles, and I’m about as enlightened as a stick.

I’m just a SaaS-obsessed business coach that has made WAY too many mistakes, enough to fill entire encyclopaedias of ‘what not to do’.

But I did do something right: 

I didn’t quit. 

I squared up my mistakes (2 failed companies), welcomed the hard lessons, and eventually became strong enough to make the right decisions (building and exiting 3 companies).

I still get asked “What do you wish you did differently in your career?”

Oh man.

I could fill books.

I have to break my answer up into decades… starting with my 20s.

At 20 years old, I was an overworked developer working for free at someone else’s startup. 

Just 10 years later at 30 years old, I had sold my 3rd business, was building my 4th and was already a multi-millionaire.

Even though I look back fondly on that decade, I still know I made decisions that cost me (or lost me) millions.

So, I’m putting a pin in my ego and owning up to my biggest mistakes in the hope that you can avoid them.

In this video I’m going to share with you:

- The solo mistake that cost me $10 million in lost revenue
- How I hired an executive that nearly cost me my business
- Why ‘needing to be liked’ sabotaged my company culture
- How wearing a suit-and-tie saved my company
- Why selling for millions cost me millions more! (Don’t sell early)
- How my failed investments poured cash down the drain

At least half of my wisdom comes from having screwed up enough times to know why the wrong decisions are actually wrong. 

Now I get to save SaaS founders like you from the fate I barely escaped.

It would have been so easy to quit or to stay on a course doomed to fail. 

But if I had joined the SaaS graveyard, I wouldn’t be in your inbox, on your news feed or sharing these mistakes on YouTube.

I’m here to help you get to your success twice as fast as I did.

Drop by the video and let me know in the comments: What is the biggest mistake you’ve made recently that you know you’ll regret for years to come?

--

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.

+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell

Exclusive Download: 5 Secrets of Silicon Valley – Discover My Silicon Valley Secrets To Skyrocket Your Business by Implementing 5 Little Changes That No One is Talking About - https://bit.ly/2Q1xfTW