How BRITech Global CEO Yuryi Ferber grew BRITech Global to $12.6M revenue and 350 customers in 2024.

thanks thanks for having me my name is Yuri Ferber I am CEO and founder of britek britek is a SAS for investment management um so over the next 20 minutes I'm gonna show you how and why you should expand your a product from a single to multi-product so I'm gonna talk about value chain adjacency how to do it if you can build the product you can buy it or you can partner now and buy later and the importance of segmentation in customer support and customer success as well so this is our this is my company Revenue growth over the last five years and this is happening only because we also have multiple products by the end I'm gonna show the impact in the revenue growth of having multiple products uh of course so um very important when you expand your product roadmap to build your next products of course you start with one product when you go to the next product very important if you stay in the same ideal customer profile because it's it will be easier to to sell to the same client than to acquire new client it's always this so staying in the same customer ideal customer profile it will allow you to upsell to that customer and also will be cheaper and you are going to have more retention why why you have more retention because when you have multiple products same client using your multiple products you start locking up your clients so usually one product consumes data from another product and this creates a lockup and it's great for mitigate your churn and there are some effects of course that I'm gonna talk uh later um in our case we start backing eight years ago backing with one product for One customer profile uh and nowadays we have like seven products for seven different profiles and serving like thoroughly different use cases for this for this customer base so this is very interesting because it creates a lot of opportunities to monetize your product portfolio uh let's jump into section two um there are many ways to build to expand your product portfolio of course you can use the traditional way of building you as you as you probably did in the first product you you have your CTO you have your team of software engineers and you just build a new product of course you have to uh pay attention to to things like um product Market fit uh as my my friend earlier in this uh session just to show you so product Market fit is one uh thing that you must worry when you create a new product you can have a product Market product but probably you you don't uh it's not a uh uh you have to when you create a new product you have to be worried if you if you if you reach that the product Market fit for that new product a second way to to expand your product portfolio is to buy you can buy a another company or you can buy the intellectual property or you can the third option you can partner now and buy later or maybe by later so what I mean by that I mean that if you finding another company that has a another product similar not similar but adjacent to your product and you and something that you can sell to your customer base maybe you can partner with that company bring that product to your product so make it embedded in your product like like a white label and after some time you can maybe um buy these guys okay so the advantage of the of doing this way is that you don't need money to acquire these guys uh as when you when you buy the company you have to of course use money but if you partner now and buy later you can experiment if that product really has a market fit with your current product portfolio and and in the in the in the another important thing is the culture so you are bringing new people to your company is there a uh are you sharing the same values uh the product is really selling to your customer base so after some time 6 12 or maybe 18 months you can't start to realize if it's working or not and when you when you when you do a a stuff like that partner now and buy later of course you have to take care of a lot of different things first you have to have it on paper so and start with start with a partner contract and stuff like Revenue sharing how much are you going to share with the partner uh what are what are you going to do are you going to support the partner product you're so your support team here is going to support your partner product ideally yes but sometimes it's not so easy to do that so as more as you do using your partner product as more you can retain from the from from the revenue so you can maybe share 50 or less percent as more as you um you do for the with that product after some time as I as I said before if you 6 12 or 18 months or 24 months it depends there's no magic number after you find out that product from your partner is working you're really selling it to your customer base maybe you start to think about how to acquire these guys so the the the acquisition uh uh you should have an uh since day one uh uh a formula to to price that cost of acquisition so you can buy these guys or even if you can um Equity swap so rather than buying them or buy the IP dip or buy the IP and the team you can uh maybe bring these guys to your company and give your company's equity in exchange of their product that's uh that third option this is by the way the the the the the way I like more okay uh again um talking about yeah so build is the first way buy is the second way in my opinion the best way is partner now and maybe by later if it's working uh let's jump to section three so we are talking now about uh segmentation uh segmentation is very important because you know you can have a great product but if you don't serve your customer base well you're going to have churn even having a great product so in my opinion too if you are a vertical B2B you you must have segmentation in your customer support and your customer success teams this is going to so your both things will will need to have domain expertise on what you do so if they talk the same language of of your client it's going to create a really a value and it's going to create a bond and the churn will be dramatically reduced so segmentation is very important and customer success by the way customer success for me is they are the the the guys that upsell so again going back to that example you have a product you partner with another company to add their product to your offer offering um who does that in my opinion the customer success is the is the one that upsell because why is that because for me a customer success is like a CRM 2.0 now so these are the custom relationship managers very close to the clients uh they but but they need to understand the the client's business and so they are they're talking to the client on a frequent basis so they they will know the best time to upsell or to sell a new product to that same client and the sales teams they are worried about bringing new clients so you segment you you leave the sales team acquiring new clients and you have this customer success team of course making sure everything is working and upselling new products to your client base we believe it this is a page from our website we believe it so much that you can see in our product page this is our products in our product page we highlight the our customer success team and our customer support team so again you can have a great product but you need to have customer success and customer support very serving your clients very well and keeping our churn very low um so so I show you these three most important things I think is important to take care when you are expanding your product portfolio from single to multiple products but let me show you the impact when you have a multiple portfolio in your company what happens to your growth again if you keep your your churn low and what is low usually one digit so less than nine percent per year is a is a a good metric for a low churn so okay so you if you have a churn a low churn and if you have multiple products you can have a net dollar retention higher than 100 percent in our case we are working in a range between 110 to 120 percent and what what is the impact of the of having a high net dollar retention the growth coming from the customer base is huge if you take a look at for example 2019 27 percent of the of the growth came from the customer base if you take a look at 2020 30 came from the customer base and if you take a look at 2021 two-thirds of the growth came from the customer base only one one-third came from new clients so this is only possible if you have multiple products and you are constantly frequently um upselling to your customer base um yeah that's it I'm open to questions peace you mentioned that you should Target the same ICP for us our ICP our businesses because we are p2b SAS yeah thank you uh yeah our icpr other b2bs um what are your thoughts of targeting the same company but different department within those companies right because right now we serve let's say the operation department but maybe we can come up with a product that served their sales department so even though it is the same ICP the same company another department but another department what are your thoughts about that or should we like stay within the same department and not go across Department yeah when I...