The Martell Method w/ Dan Martell

Today, the tables have turned and the microphone is being flipped.

Instead of interviewing a SaaS founder…

…a SaaS founder is interviewing me!

I’m pleased to share with you a special interview hosted by Liam Martin, co-founder of Time Doctor and co-organizer of Running Remote. 

Liam is a successful entrepreneur that helps remote businesses manage their teams efficiently. A service that couldn’t come at a better time with remote work taking precedence in today’s world of economic uncertainty.

He’s also one of my coaching clients 🙂 

It was Liam’s idea to interview me for the Running Remote YouTube Channel with his topic of choice: How to Find a Business Coach.

With everything that’s going on right now, everybody needs someone, a coach, a mentor, an advisor, to help them navigate these unprecedented times.

I’ve been through two major economic downfalls, 2001 and 2008, and I’ve come out the other side better than before. (hint: I’ve always had a coach)

This week’s video is all about finding that coach to guide you through the daily struggles of a software founder.. Check it out.

Look, I know there’s a lot of B.S. in the coaching industry… So much so that I resisted using the word ‘coach’ for years.

So, I appreciate Liam giving me the chance to vent and provide some suggestions for you. In the interview we talk about:

What you should look for in a coach ← The 2 key factors
What a coach can do to make you a more successful entrepreneur
Do you even need a coach to help you through your struggles?
What I would change in the coaching industry

When I was 23 years old, I hired my first business coach. 

I didn’t even have a business yet… but I wanted to align myself and start out moving in the right direction.

Today, I have several coaches (strategy, kiteboarding, triathlon, nutrition, etc.) that I pay every month to help me.

Maybe that surprises you, but I think there is no better way to optimize your life.

Or, as I say it in the interview:

“If you’re the type of person that wants to move quickly, you need a coach.”

I am.

If you are too, remember you can always hop on a free strategy call with my team and we’ll figure out if we can help nudge you in the right direction during good AND bad times, like we did with so many of our clients. 

Big thanks to Liam for the interview. Tune into it here and I’ll answer any questions 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: Idea to Exit Mini-Course – Learn How To Build a Product Without Spending Money & True Customer Validation - http://bit.ly/3cZqcpc

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Today, I’m going to give you the 5 most profitable business ideas that you can start in 2020.

Yes, THIS YEAR.

Profitable meaning: 

- Low risk
- High reward
- Great return on investment
- Quick to take to market
- Capable of growing and scaling

Not all business ideas are equal. An idea is only valuable if it’s actionable and profitable. 

These ideas I’m about to show you? They’re the good ones.

Yes, it’s my opinion.

But my opinion comes from 20 years of building and growing companies, investing in 40+ startups, becoming a multi-millionaire, and working closely with many successful businesses.

These are the 5 growth areas that are already taking off, whether you’re riding the wave or not.

Check it out.

I’m willing to bet you’ve heard of some of these. Probably even thought about starting them.

Isn’t it time to take action?

These are what I would recommend to myself if I was starting again. And they are what I’d recommend to you or to anyone I care about and want to see succeed.

But it’s all about execution.

A shortlist of ideas isn’t going to get you millions in revenue… Choosing something, committing to it and making it happen – that’s what makes the difference.

Make it your year. Make it your life.

Just make something great out of it, yeah?

Don’t forget, if you’re going with the SaaS option, then I’m here to coach you through all the difficult stages of growing and scaling.

Tune in to the video here, take some notes, and start taking steps towards that goal.

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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: Idea to Exit Mini-Course – Learn How To Build a Product Without Spending Money & True Customer Validation - http://bit.ly/3cZqcpc

Exclusive Resource: Idea to Exit Mini-Course – Learn How To Build a Product Without Spending Money & True Customer Validation - http://bit.ly/3cG8TJz

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“How do I find a problem that would be perfect to solve with a SaaS?”

YES! Now that’s a good question.

I come in contact with a lot of SaaS founders and business owners (or the wannabes) that ask the wrong questions. You can tell when their mindset isn’t in the right place.

Fixating on bad questions means pouring your mental energy down the drain and wondering why your business is flushing itself out to sea.

So when I hear someone ask an AWESOME question like this one, it makes me want to celebrate.

As a business coach and investor in 40+ startups, I’ve learned to spot the red flags of a business that’s going to struggle versus one that’ll take off like a rocket to the moon.

And without a doubt… 

The size of the problem you solve determines your potential for growth.

(Ok, there’s a bit more to it than that.)

I want to help you choose a good business idea from the start, so let me show you my process for finding SaaS-solvable problems in this week’s video.

These are the 4 places you should start when hunting down the right problems:

1. Spreadsheets – They’re an absolute gold-mine
2. Your Own Pains
3. Custom Built Solutions (Just turn it into a SaaS)
4. Trends – ride that wave.

The money is in the problem you solve.

Over 2 years ago, I published a video on building a $100 MIL+ company in 3 years and my first point was: you’ve got to solve a really big problem.

Months ago I interviewed Toby from Shopify who became a billionaire because he found a really big problem and created a fantastic solution.

So if you want to get good at business…

Get good at finding problems first.

Fire up the video right here and learn how to tap into pain points that people will pay for. Drop me a comment while you’re there. I love hearing from you

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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: Idea to Exit Mini-Course – Learn How To Build a Product Without Spending Money & True Customer Validation - http://bit.ly/3cG8TJz

Exclusive Resource: Fundraising Like a Pro – Learn the 3 phases of fundraising and a 7 week process for starting & closing your next round of funding - http://bit.ly/2vxAuvJ

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Bzzzt. Bzzzt.

“Hello?”

“Hi Dan, I’m calling from Google. We’re interested in potentially buying your company…”

Ok, it didn’t go quite like that, but it’s true – my first call with a potential acquirer was with Google.

I was super excited! I mean… Google?! They’ve got money to burn, and I was ready to take it!

…then I proceeded to make some big mistakes. 

On that phone call, I did everything wrong. I gave them SO much information about my business that I sent them away with a step-by-step on how to do it all themselves.

I even told them how our code worked! What was I thinking…?

I was trying to sell them on my company but ended up with no offer, no callback, and nothing to show for all the answers I gave.

I let my excitement get in the way of my strategy.

So please don’t make the mistake I did. This week’s video is all about how to conduct your first call with a potential acquirer… without all the mistakes I made:

As an investor, I now know a lot more about this than I used to. You’ve got to follow these 5 steps to CRUSH that phone call:

1. Fit, Price, Motivation
2. Get Them Talking
3. Prepare Talk Tracks
4. Role Play
5. Stick To The Time

Imagine if that call goes wrong. What does that mean for you?

It’s the difference between a multi-million dollar sale… or convincing an acquirer to become your direct competitor and drive you out of the market.

All because of the words that came out of your mouth.

When the stakes are THAT high, you can’t just wing it.

One of my coaching clients, Adii from Conversio, had a call from a potential acquirer recently. I coached Adii on how to use this exact framework to make that call.

And it worked.

His company was acquired by Campaign Monitor for millions. That’s a massive exit that most SaaS founders could only DREAM of.

In the past 12 months I’ve coached 7 of my clients to exit and they used this first conversion process to ensure they didn’t mess it up :).

Even if you’re in the early stages of growing your SaaS, plant this seed in your mind now by watching the video here. 

You never know when a casual chat with a new contact will turn into the business meeting that defines your future.

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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: Fundraising Like a Pro – Learn the 3 phases of fundraising and a 7 week process for starting & closing your next round of funding - http://bit.ly/2vxAuvJ

Exclusive Download: Future Living™ Framework – Play a Bigger Game and Enhance the Way You Communicate Your Vision to Everyone You Interact With - http://bit.ly/2HSvbK8

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I’ve never been one to watch wrestling. 

Rarely ever step in the ring for a boxing match. 

But despite not being much of a sports guy…

I sure know how it feels to get slammed to the ground by life, kept in it’s chokehold, and kicked in the gut while I’m there.

Failure after failure, problem after problem, it was mentors and business coaches that helped me through everything that went wrong.

And now I give back where I can.

Through SaaS Academy, I don’t just coach SaaS founders through their business problems: I help them with who they are and how they survive life too.

It’s all intertwined. 

So, how do you overcome those tough times when you hit a wall in your business? Or when personal life knocks you off your feet?

I want to give you my 5 perspective-shifting hard-learned lessons in this week’s video:

1. Your Worst Is Someone's Best
2. Seed of Opportunity
3. No Pressure No Diamonds
4. Do What Others Won’t
5. Call It A Challenge

When times get tough, watch this video. Bookmark it, save it, add it to a YouTube playlist.

Because even if the skies are blue right now, they’ll turn grey at some point.

I’ve seen too many entrepreneurs quit when it gets hard, despite having a great business plan and product.

It takes time to grow resilience, and yet it’s an important ingredient in the formula for success.

Take a few minutes to check out the video right here, and I’d love to hear from you. Drop me a comment with your answer to this question:

What was the furthest fall from grace you ever had in life or business?

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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: Future Living™ Framework – Play a Bigger Game and Enhance the Way You Communicate Your Vision to Everyone You Interact With - http://bit.ly/2HSvbK8

Exclusive Download: Top Books For Transforming The Entrepreneur’s Life – Carefully Curated List From Over 1000+ Books and Almost 20 Years of Reading - http://bit.ly/2SORGER

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Have you ever met someone that got good at something REALLY fast?

I mean… learned a new language in a matter of weeks, started a new business that takes off in months or achieved a result in a tenth of the usual time?

These superhumans exist. I’ve met them.

And I’ll tell you something:

What stops anyone from building momentum quickly isn’t knowledge.

It’s perspective.

Knowing how to do something isn’t necessarily the bottleneck that you think it is. 

The superhumans that get success quickly are those who perceive the goal, their problem, and their flaws differently to anyone else. 

They don’t need knowledge. They follow a system.

It’s the same reason why academics with multiple PHDs might know a lot about something but still feel incapable of doing it to their standards.

Today, I’m going to teach you a system for building momentum… even when you don’t have the knowledge yet.

I call it The Momentum Quadrant™, and it’ll change the way you perceive your challenges.

There are 4 Ms in the Momentum Quadrant™. (Who doesn’t love alliteration?)

1. Mindset
2. Model
3. Method
4. Map

Like all good systems, it’s super easy to understand. The more complicated a system gets, the harder it is for you to keep the big picture in mind as you follow through with it.

This is a system I’ve been using for years.

It’s my instant perspective-alignment tool. And for me, it’s more valuable than any knowledge bomb that stays dormant in your mind and doesn’t generate the change you want.

Check out the video, and drop me a comment if you found this helpful. I’d love to hear from you.

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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: Top Books For Transforming The Entrepreneur’s Life – Carefully Curated List From Over 1000+ Books and Almost 20 Years of Reading - http://bit.ly/2SORGER

Exclusive Download: Cancellation Capture System™ – The Flow, Design and Copy You Need To Save Cancellations & Learn as Much as You Can Before a Customer Leaves - http://bit.ly/2ux7Lqo

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It kept me up at night… 

The entrepreneurial sweats.

I used to dream about it, about how to fix it. 

I read every book on it. Every blog post, every case study. I spoke to other SaaS founders  that fought the same battle. I needed to win.

What battle?

The Battle of Churn.

20% of my customers were leaving. I’d worked hard to win them over and now 1 in 5 would cancel their account every month.

I fought that churn and with time… I brought it down to 8%. 

That’s EPIC! That meant we now had a 92% customer retention rate!

That single battle won us the war. Each new customer brought a greater LTV (lifetime value), our marketing efforts paid greater ROI, and my SaaS became one of the fastest-growing in Silicon Valley.

And you know what proved to be the biggest churn buster?

The Cancellation Page.

Your cancellation system single-handedly confronts your churn rate and boosts your profit. So you’ve GOT to optimize it.

That’s why I made this week’s video for you. The best 7 minutes you’ll spend today, I promise you.

In this video, we pull apart what makes a robust cancellation system:

1. Remind The Loss
2. Align Alternatives (This makes such a difference.)
3. Win The Why

Don’t EVER let your customers walk away without first asking for their feedback. 

You might think you know why they are leaving, but if you are not reviewing their cancellation reasons weekly, then you do not understand the economic model of SaaS.

You’ve GOT to fix the ‘problem promise’, the reason they joined in the first place.

Look, I know that this is such a pain point for SaaS founders that I wanted to take it one step further than just a video.
I’m including the perfect Cancellation Page Template that you can download today. You’ll get:

- The full wireframe template
- The different tabs you need on the page
- All of the copywriting for the pages
- The alternatives that I’d recommend

Free of charge, from me to you.

You can win the battle of churn. I’ll help you through it.

Stop by the video here, download your template, and let me know if it was helpful by leaving a comment.

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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: Cancellation Capture System™ – The Flow, Design and Copy You Need To Save Cancellations & Learn as Much as You Can Before a Customer Leaves

Exclusive Download: Top Books For Transforming The Entrepreneur’s Life – Carefully Curated List From Over 1000+ Books and Almost 20 Years of Reading - http://bit.ly/36QHMY3

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In the next 10 minutes, I’m going to give you everything you need to start your own business in 90 days. I guarantee it.

Free of charge, this is my advice to you.

Yes, you CAN start a business with no resources, no upfront capital, and no infrastructure.

It’s a bold claim… but I’m 100% serious about this.

I’ve lost count of how many times I’ve been asked: “How do I start a business?” I’ve answered it so many times and I’ve been told my answers have been insightful. 

So I figured it’s time to put it all into one epic, no BS, ‘this is it’ video.

The 5 key points to starting a business that I cover in the video are:

1. Create For You
2. Learn To Tell <– this is a deal-breaker
3. Ask For Money
4. Call It A Project
5. Organize An Event

Usually, I talk about scaling a SaaS to millions in recurring revenue or how to increase expansion revenue and decrease churn…

But once upon a time, I was starting out. I was bitten by the entrepreneurial ‘bug’ with no idea where to start.

So this advice is as much for 17-year-old Dan Martell as it is for you or anyone you know that has the drive and wants to get started.

Agree? Disagree? Got anything to add?

Drop me a comment on the video. I’d love to hear from you. 

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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: Top Books For Transforming The Entrepreneur’s Life – Carefully Curated List From Over 1000+ Books and Almost 20 Years of Reading - http://bit.ly/36QHMY3

Exclusive Download: Revenue Retention Cheatsheet™ – Stop The Bleeding & Scale Your Marketing With Confidence - http://bit.ly/2GtpXDW

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I bet you dream about growth, dreams like:

“If I got x more customers per month, our revenue would…”

It’s exciting to think about where things could go, and how much revenue could come flooding in. 

But I have to break it to you:

There’s a limit.

Yes, there’s a growth ceiling to a SaaS. I call it the Churn Flatline.

It comes down to simple math, but it’s 100% predictable. 

No matter how great your growth is right now, one day your SaaS is going to level out and hit that churn flatline.

That means no more growth. 

No more annual recurring revenue. You’ve maxed out.

It’s a scary place to be!

But… I’ve coached many, many SaaS founders like you on how to break through that growth ceiling.

Want the inside scoop? It’s all in this weeks’ video.

We kick off with a bit of money math and a calculator, but once we’ve covered the basics, here are the 3 points I explain in-depth:

1. Reduce Churn… it can be done!
2. Increase ARPA (and the 3 tactics to do it)
3. Grow Customers

If you’re not yet aware of the Churn Flatline, then you definitely need to see this video.

Run the equation for yourself.

I want you to hold off reaching that ceiling for as long as possible. Predict it ahead of time, and build your business around preventing it.

Immunize yourself against it.

The difference will be worth it. So even if your SaaS is young, pay attention. It’s never too early to fight churn.

Watch the video here, and if you have a question, drop it in the comments underneath.

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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: Revenue Retention Cheatsheet™ – Stop The Bleeding & Scale Your Marketing With Confidence - http://bit.ly/2GtpXDW

Exclusive Download: Top Books For Transforming The Entrepreneur’s Life – Carefully Curated List From Over 1000+ Books and Almost 20 Years of Reading - http://bit.ly/2GaseUq

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I like to hang out with inspiring entrepreneurs. 

No, not sipping coffee in their offices… I like to get out and do something fun. Even if it means breaking bones.

When you connect without it being about business, two things happen:

First, you get insights into the character of a successful business person.

Second, when the conversation isn’t forced, that’s when the most valuable business advice flows organically.

So, last year I went snowbiking with some entrepreneurs behind $100 million+ companies, and here was our (accidental) itinerary:

- Day 1: Matt broke his collarbone within 30 seconds. In the afternoon, Nick smashed into a tree and took the day off.
- Day 2: I hit a jump, fell into a tree well. My brother came after me and landed on top of my bike.
- Day 3: Brad who organized the trip gunned it through a clearing, smashed into a small river and fractured his pelvis. He drove himself out 22 miles to get help.

It was a disaster… and yet it was the most fun I’ve had in a long time!

But while we were breaking bones, we were sharing business lessons with each other.

These guys were incredibly generous with their advice, so I wanted to pay it forward and share those lessons learned with you.

I’ve got to admit, most of these lessons came from Brad Pederson, the guy that fractured his pelvis:

1. The 1 – 3 – 1 Rule (amen!)
2. Quickest To Grow ← flawless strategy
3. The 3 Things That Break
4. Hand vs Hearts
5. Magical Moments

If you’re the smartest person in the room, you’re in the wrong room. Or snowfield.

Even though I coach businesses, I’ve never considered myself the know-it-all. I’m always looking to learn more and I’m grateful to anyone that is generous with their advice.

I aim to be just as generous with you.

I hope this video was as valuable for you as the ski trip was for me. As always, I’d love to hear from you 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 Download: Top Books For Transforming The Entrepreneur’s Life – Carefully Curated List From Over 1000+ Books and Almost 20 Years of Reading - http://bit.ly/2GaseUq