Mark Osborne explains why companies chase new customers while ignoring retention, then crash when funding dries up. When capital tightens, growth stalls and churn spikes, revealing products that don't actually solve problems for the people already paying.
Most organizations really focus on pivoting with the market on the front end and often forget kind of insulating the current business that they had. And I think we saw this a couple of years ago when VC money dried up, when capital markets got tough, right? And not only were you unable to grow at the rate that most organizations historically were growing, but you were also churning largely at the same rate and slightly higher than you were before, really showing that most products are disconnected to their current customer base and what actually provides the value to a customer.
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