LinkedIn Templates: Product led growth

🌉 Bridging the Generational Gap: What Other Generations Often Misunderstand About Millennials

There’s a lot of talk about Millennials in the workplace, but how much of it is truly understood by other generations? Here are a few key insights:

💪 Value Flexibility Over Perks: While ping-pong tables and free snacks are nice, they prioritize work-life balance and flexible working arrangements.

🐇 They’re Not Job Hoppers by Choice: Often perceived as fickle, many change jobs to seek better opportunities, professional growth, or more meaningful work, not just for a higher salary.

👨💻 Tech-Savvy, but Not Tech-Dependent: Yes, they embrace technology, but that doesn’t mean they don’t value face-to-face interactions and traditional work methods.

💸 Purpose Over Paychecks: They are driven by work that contributes to a greater good. It’s not just about earning a living; it’s about making an impact.

📈 Feedback and Growth: Regular feedback and opportunities for professional development are crucial for them - it’s not entitlement, but a desire to be their best selves.

Understanding these points can bridge the generational divide, leading to a more harmonious and productive workplace.

#millennials #workplaceculture #generationalgap #professionaldevelopment

2024 is right around the corner.

Here are 5 signs you need to update your strategy.

1. You’re not hard to copy.

2. You have more than one ideal user/customer.

3. You don’t have the right skills on your team.

4. You’re focused on too many channels at once.

5. You’re hiring a product marketer to communicate your core differentiator (because you don’t really have one.)

To help you create a winning strategy, I'm hosting an intensive workshop in Dec.

Just comment “2024” below if you want me to send you the details.

Hot take this Labor Day: American Millennials (my generation) are far too obsessed with the concept of a 'work-life balance'... and Boomers and Gen-Xers aren't much better with their obsession of reaching retirement.

In both cases—work is viewed as a BAD THING. Something to be avoided.

Shelby and I are currently DIYing our first baby's bedroom. He's due in less than 2 months. She and I have maintained a breakneck travel schedule the past year between trade shows and setting up distribution. I just got back from international business travel Thursday—I have 4 more trips in the next 4 weeks—and now I'm painting... and having fun doing it.

My whole life I've worked hard. By my senior year I was the fastest high school swimmer in the state of Texas. I studied and swam at Princeton. And if that wasn't enough, I started Cheers in my dorm room.

People always ask: "Where do you find the motivation?" Or: "How do you find the energy to work so hard?" The answer lies in how I view work... I fundamentally view work as a GOOD THING.

It's not something to be avoided. There is joy in work for its own merit—even if you're not getting paid much—though... that's a nice plus if you can make a good wage doing it!

I'm a Christian, and in Genesis, the Lord calls humankind to essentially 1) procreate and 2) subdue the Earth—and together that is part of their worship and service to God. The idea is pretty simple... humankind are inherently workers meant to make things better than they found it.

Why I don't like the idea of a 'work-life balance' is that it pretty much only ever strikes one direction. Someone who works a lot has a 'bad' balance and someone who works less has a 'good' balance. Have you ever heard someone say: "I have a bad work-life balance... I work far too little!"? 🤣

I believe working less is the wrong ideal.

I'm not saying all work is fun. Layoffs aren't fun. Shit hitting the fan is not fun. Having to stay up all night fixing someone else's problem isn't fun.

But what I am saying is that if you can find a way to see work as a blessing in and of itself, you'll really find a lot of joy in your life. All the entrepreneurs I meet with love working. They love the challenge. They love helping people—customers, employees, vendors, etc.

In the past month I have met two different groups: 1) Shark Tank alumni, and 2) some of the most successful sellers on Amazon. In both groups many of the people there had already made multiple lifetimes worth of money—they had no need to work. So why were they working? Why weren't they retiring?

Hint... it's not because they want a private plane or yacht... or some other vain thing. It's because they find joy in the work they do.

This Labor Day try to find joy in work. That may mean a career switch. But it also may just mean taking a different view of the work you do. Even if you work for a greedy corporation you can find ways to make the lives of your co-workers or customers better. And that gives joy!

Contrary to the traditional pursuit of higher salaries at all costs, Gen Z and millennials have a strong emphasis on work-life balance, personal development, and meaningful work

In a recent debate with a dear friend from a large corporation, I argued that these Gens are adamant about their priorities

They will not go after larger monetary compensation at the account of their preferences

This isn't speculation. Numerous studies and surveys support this shift in priorities:

1. Research from Deloitte titled “2023 Gen Z and Millennial Survey” says 77% of Gen Zs and 75% of millennials who are currently in remote or hybrid roles would consider looking for a new job if their employer asked them to work on-site full-time

2. The same report shows that the majority of Millennials would give away high pay for improved work-life balance. They look for positions with a purpose and a company that aligns with their values but not necessarily high-paying positions

3. When asked about the factors that most influenced the decision to accept a job offer, 65% voted for personal development vs 21% for salary (source: PWC report Millennials at work reshaping the workplace)

The above is not just a trend!

These are facts that are redefining the workplace in fundamental ways

Companies need to adapt to these changes in the newest workforce generations to report tangible benefits

These include enhanced employee satisfaction, lower turnover, and greater innovation which are essential to survival in the current market dynamics

NB. Image generated by ChatGPT. The post is not 😊

#WorkLifeBalance, #GenZWorkplace, #MillennialMinds, #PersonalDevelopment, #InnovativeWorkplaces, #FutureOfWork,

#CareerGrowth, #CompanyCulture, #EmployeeSatisfaction

Seeking a better life balance? You're not alone. A recent study shows that 55% of millennials are willing to sacrifice 20% of their salary for this crucial harmony. It's time for organizations to step up and prioritize their employees' well-being.

You shouldn't have to choose between work-life balance and a livable wage. By focusing on resource management, aligning skills with roles, fostering a positive work environment, and implementing mental and physical well-being benefits, we can create a harmonious workplace. One might even argue a self-sustaining workplace, as a positive employee experience will attract top talent, keeping businesses running with happy, healthy, talented employees.

💪✨ #WorkLifeBalance #EmployeeWellbeing

Advocating for yourself at work feels awkward, right? You're not alone.

📊 Stats Alert: 68% of Millennials and 55% of Gen X are comfortable negotiating salary, versus 45% of Baby Boomers. Younger gens also speak up more for work-life balance.

Before you walk into your boss's office, you need career clarity. What's that?

🎯 Career clarity = Knowing what you want, why you want it, and how to get it.

--

Steps to get clarity:

1️⃣ SWOT Analysis: Don't laugh! You'll discover gold about your strengths and opportunities.

2️⃣ Competitor Analysis: Know your workplace "rivals." How do you stack up?

3️⃣ Future Goals: Where you see yourself in 5 or 10 years? Break down the steps to get there.

4️⃣ Ideal State: Imagine your perfect work environment and reputation. That's your target.

Once you're clear, you can better advocate for yourself. Whether it's a salary bump or more flexible hours, you'll know exactly what to ask for and why.

Comment with your own tip!

#joincoho #careerclarity #advocatingintheworkplace #workplacedynamics #careerjourney #careergoals #careerinsights

Conventional wisdom suggests Expansion ARR should be around 30% of total New/Growth ARR - is that true today and at what stage of growth?

The answer is it depends - especially on your stage of growth as measured by company revenue...

New Go-to-Market motions (PLG) and pricing models (Usage-Based Pricing) are purpose-built to decrease initial customer acquisition friction which in turn "should" increase expansion ARR as a % of total New/Growth ARR

Based on company size - below are the latest benchmarks on the % of total new growth revenue (ARR) delivered by existing customer expansion:

< $5M = 25% (median)

$5M - $20M = 34% (median)

$20M - $50M = 42% (median)

$50M - $100M = 45% (median)

Total Population = 33% at median (N = 516)

Some very interesting findings include:

🤯 Sales-Led Growth models had a higher % of Expansion than PLG models

- note this did not factor in Usage-Based Pricing as a variable

🔎 ACV was an important factor in the benchmark findings

📏 Measuring "WHEN" new ARR ends and expansion ARR begins is a critical variable in calculating several associated metrics beyond expansion ARR %:

- CAC Ratio

- CAC Payback Period

- Net Dollar Retention (Net Revenue Retention)

🎙 Expansion ARR as a percentage of total new/growth revenue was the topic of the first episode of SaaS Talk which is a great listen for anyone considering how to increase expansion ARR and how to measure its financial impact...including revenue growth efficiency

💻 If you want to see how Expansion ARR % is impact by company variables similar to yours - saasbenchmarks (with an .ai extension) has the info...

#b2bsaas #benchmarks #metrics

One of the most overlooked metrics in growth is marginal CAC:

Suppose your LTV is $100 and you currently acquire 1,000 customers per month "profitably" at a $50 CAC.

You want to grow 50%.

In general, you know:

1. CAC increases more than proportionally to # customers acquired

2. LTV decreases while growing from core customers to masses

3. The "golden rule" is LTV > CAC

Suppose you get the 50% growth you wanted, and you now acquire 1,500 customers monthly at a $75 CAC. Assume for simplicity that your LTV remains $100 (weak assumption).

As your LTV > CAC, you are still creating value, right?

Wrong!

You are actually destroying value, as your mCAC > LTV.

Here is the proof:

mCAC = [(new volume x new CAC) - (old volume x old CAC)] / (new volume - old volume) = [(1,500 x 75) - (1,000 x 50)] / (1,500 - 1,000) = $125

This means that you are now acquiring 500 new customers monthly at a loss, and you were better off remaining smaller.

My "golden rule":

To maximize absolute value created, keep growing until mCAC = mLTV.

I know 10 CMOs who don't look at this metric, you?

#growthmarketing #customereconomics #performancemarketing #ltv #cac