Too Long; Didn't Read
WeWork and Blue Apron seem to be facing their demise in 2019. How do companies with so much initial promise crash and burn so quickly? And how do we avoid the same fate? Many companies (and investors) focus on sales and customer acquisition so much that they forget one of the golden rules of business - it's 5 times cheaper to keep an existing customer than it is to gain a new one. SaaS companies today should focus on both sales and retention to avoid falling into the trap of endless and unprofitable acquisition.