Bridget Harris

But as I said, nobody's giving this money to you, so you need to make it yourself.

You decide on your cost.

You decide what you want to spend on.

It's not exactly a tap that you switch on and off, but you decide when you want to spend it.

Recently, we've just decided to double size of the company.

But what we're doing is we're investing, we're eating into our profit margin.

We're not trying to spend money that we didn't have.

So we make it out of our monthly ARR, if you like.

Business stack, same sort of thing that you'll recognise, cost of acquisition for customers, how much you're going to spend on the product itself to retain and give them a good experience, their lifetime value, whether you can expand them and then essentially how much money you can make off the top of what they give you.

Now, the name of the game here is I'm not talking about sales and marketing.

What I'm talking about is product-led growth, because that is what's going to lead you to profitability.

And if you listen to Nathan, a couple of years ago, he did an absolutely fantastic 20-minute talk on how you should be expanding your customers, how you should be making more money from people giving you more, rather than trying to expand through growth, through sales and marketing.

And that is the best economics you can put into your company.

And then the final one is people, HR.

So what I talk about is high performing problem solvers, which sounds completely obvious.

Obviously you want to get high performing problem solvers, but what it doesn't say is what you don't want to hire is low performing problem creators, because they're going to be very expensive inside your company.

So how do you do that?

Well, you invest in your recruitment, you invest in your turnover and culture, and you look at what the experience is like for somebody working for your company.

You want to incentivize somebody working for your company for as long as possible.

You therefore have to work out how you're going to give them some career paths and promote them and so on and so forth.