2022 and 2023 brought new pressure to the software industry that many mature industries have felt for a long time. Here’s our take on what happened and where we go from here.
What happened?
- 2010–2021 were the years of plenty, with an extra push in the back from COVID
- Since growth capital was so cheap, it was easy to get away with mediocre performance
- The bar of performance was not high enough
- Growth was seen as a metric of success, not profit
Where do we go?
- Add discipline to how you run, just do the basics really well
- Deliver at a higher standard of execution
- When you apply success metrics and business expectations of other industries to many companies in the software industry, software performance is poor
- People got more excited about growth than things like CAC, and getting the most out of the customers and funnel they already had
- Do your research. Find out where your competitors are lacking quality and invest your efforts in that.
Want to know more about Kalungi or have a chat with our team about your company? Go to kalungi.com and book a free 30-minute meeting.
Want to learn about the T2D3 method? Get the book and certification at t2d3.pro
Tell us what you think or suggest a topic for the next episode here!
