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Bridget Harris

๐Ÿ‘ค Speaker
435 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

And at the end of the day, you've got a profit margin there, which what I would call is essentially their ability to impact your growth.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

So who you hire will have a direct impact on that.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

So here it is, the profit stack of your classic P&L or income statement, what you're doing in terms of people and team, and then how you're actually going to build a product together to make some money.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

So in terms of metrics, people metrics, this is Eithne and Kelly, two of the high-performing problem solvers that worked for us in Lisbon earlier this year.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

What we're trying to do is to maximise the opportunity for high performers to hit their stride.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

That is where you're going to get true value out of anybody who works for you, is to get them to work for you for at least two, if not three years, and to hit their stride over that time.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

So you have to have a view about what their best work is going to look like.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

And so for the metrics that matter, you need to understand what is your average tenure, what is your turnover, and what is your, as Nathan would say, your ARR per employee.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

And you will be able to scale profitability in your company if you do it.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

Now, metric, tenure.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

SaaS benchmarks.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

Now this all comes from SaaS Capital.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

So I am going to come with a slight contradiction of what Nathan said, but you can certainly, all of these sources, I hope that they're going to be shared in the documentation that you got.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

So SaaS Capital will do metrics about bootstrap companies, VC funded companies for different sizes.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

So I've taken them for a company you can book me size.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

benchmark is two years you can book me 3.3 years and it's only 3.3 because we've just doubled the size of the company recently normally it was about four years four and a half years people say for you can book me for a long time which means that we get a lot of value out of what they do for us turnover this is the voluntary last 12 months of turnover at 9.2 percent how many people are just deciding to resign and move on instead of you know other negative more negative things and you can put me at 3.6 percent and then this is what nathan was saying they are arr per employee so the benchmark

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

is actually $125,000, depending on what size of company.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

So it can be 250.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

It just depends.

SaaS Interviews with CEOs, Startups, Founders
How Bootstrapped YouCanBookMe Hit $5m using team profit sharing as internal motivation

You have to look for your own equivalent.