This week's guest is so good, I wish there was a 1-800 number I could call if I had questions on constructing a business. Ray Rike is a founding member of the SaaS Metrics Standards Board. His team runs the industry's largest SaaS benchmarking index – with 18,000 unique SaaS corporations and greater than half one million data points.
He is the person you need to know if you wish to run an organization with high discipline, efficiency and reliability.
In this CarCast, we cover growth, profit, customer acquisition, churn metrics, and the five metrics it’s worthwhile to know to be an exceptional CEO and operator.
We protect
- The Rule of 40
- The customer acquisition cost (CAC) ratio.
- The CAC payback period
- Net Revenue Retention (NRR)/Gross Revenue Retention (GRR)
- The CLTV:CAC ratio
I say “Warren Buffet” to Ray by asking him what his top ten priorities are, then tell him, “Throw out 2 through 10 and let’s just concentrate on no 1.”
Finally, you could want to check out the 8 steps in McKinsey and Company's latest study for constructing your generative AI technology stack. They include:
1. Determine the corporate's stance on adopting genetic AI.
2. Identify use cases that create value through improved productivity, growth and recent business models.
3. Reimagine the technology function.
4. Leverage existing services or adapt open source AI models.
5. Update your organization's technology architecture to integrate and manage Gen AI models.
6. Develop a knowledge architecture to enable access to quality data.
7. Create a centralized, cross-functional Gen AI platform team.
8. Tailor training programs based on roles and skill levels.
