I started this business focused strictly on the world of SaaS, and at the same time engrossed in the tool I was building (simulation). But over the past 6 months I've become increasingly aware of the disconnect between that name (SimSaaS) and my evolving vision of what the market really wants and needs.
Summit: it's the vantage point that provides the best view of the horizon, a view that both inspires and informs. It's also emblematic of the goals that we strive for, metaphorically and sometimes, for adventure, literally. It's aspirational. And frankly, it inspires the kind of confidence I want to feel every time I think about this business or help someone else plan theirs.
Thanks for turning the page with me.
Our first premium feature for growth-stage companies has arrived! Role-based permissions.
Users invited to join accounts can now take the role of administrator, contributor, or observer. These roles break down like so:
Account Administrators can modify users, send invites, create and update forecasts, goals, growth plans, and metrics (trends). The full gamut from sign-up to management to billing.
Team Contributors can participate in an account by creating and modifying forecasts, goals, and growth plans, without the additional admin privileges for the account (billing and user management).
Metrics Observers can view your team's latest metrics and trends -- forecasts on your KPI's that extend into the future. These trends also show goals and goal progress bars, so users with this role can check in on how you're doing any time they want to see the latest.
Free accounts can only invite other Account Administrators. The other roles are made available immediately upon upgrade.
Expansion revenue is a beautiful thing. And for many SaaS companies, it's the source of inevitable, compounding rewards. Though small when a startup is beginning, the lift created by expansion, manifested as a growing ARPU--or average revenue per user (or customer), can become a major source of revenue.
As such, it only made sense for ARPU to be leveraged in the SimSaaS model ... and now it is!
Founders with a metrics provider will have this new intelligence auto-infused into their forecasts. For those without, ARPU can be set manually. The benefit of a metrics-powered ARPU is taking advantage of a trend:
The positive trend will be fed into the simulator, causing expansion revenue to occur well into 2021 (in this case, the startup has had a strong expansion trend for years!).
This release includes other goodies, like an improved slider UI for creating growth plans. All of the adjustments now remind you of your Baseline values, and include a reset for undoing any changes. Exploring the levers of your business has never been more fun, or safer. :-)
Lastly, this release provides a much-improved view of changes when viewed in the context of a growth plan page, several bug fixes, and some technical debt removal which you can't appreciate now, but will eventually.
With this release, the free version is feature complete and nearly ready for prime time later this month. Our focus now shifts to premium features. What do you want? Let us know!
Startups can now enter goals for any connected metric in SimSaaS. These goals will measure and display progress from the time the goal is created, while drawing the deadline and target on the corresponding trends charts.
Rather than depend on simple linear or compounding growth rates, startups can use this feature to set and report on measurable milestones like "$1m ARR" or "100 paying customers".
These goals will enable more powerful features, e.g. suggesting ways to reach these goals before these deadlines: "Raise pricing by 10% and conversion rates by 8% to reach $1m ARR by January 1st."
In the short term, this feature, combined with the ability to invite team members into an account, can help with greater alignment, motivation, and transparency across the business.
We're excited to share that SimSaaS accounts now support the addition of team members at your domain.
This is the first taste of a collaboration theme that will grow more visible in the product. For now, all team members are administrators that can view, refresh, run, and edit forecasts. In the future, new roles will appear and new capabilities like comments and annotations will supercharge the value of continuous forecasting for our users.
Team members are unlimited within your domain on free plans for both investor and founder accounts. Try it now!
Customers of ChartMogul can now import their metrics into Summit to power their trends and forecasting!
The initial line-up of metrics available through the integration are: Average Revenue Per Account (ARPA), Lifetime Value (LTV), Monthly Recurring Revenue (MRR), Annual Recurring Revenue (ARR), Active Customers, Customer Churn Rate, and MRR Churn Rate.
With this integration, our initial set of metrics providers is completed in time for the launch of our free tier in October.