We turned Mintra from a consulting-led business into a global SaaS company. This is what we learned. Focus matters more when building SaaS than when running a consulting business. Consulting rewards breadth. SaaS punishes it. In consulting, saying yes often makes sense. New clients, new use cases, new adaptations
Exit structures shape behavior long after the deal is signed. How consideration is paid—upfront, over time, or tied to future performance—often matters as much as headline valuation. Below are the most common exit and earn-out models, each with distinct trade-offs in risk, control, and incentives. Straight
In cognitive science and behavioral economics, loss aversion refers to a cognitive bias in which the same situation is perceived as worse if it is framed as a loss, rather than a gain. Daniel Kahneman’s work on loss aversion shows that losing $100 hurts more than gaining $100 feels
EBITDA shows operating performance. EBITDAC shows true cash-generating ability. EBITDAC = EBITDA before interest, depreciation, amortization, and capitalization. For acquirers, this matters because capitalization policies can materially distort EBITDA: * costs capitalized instead of expensed * aggressive activation of development, software, or project costs * EBITDA inflated by accounting choices, not economics EBITDAC
Daniel Kahneman described this as loss aversion: the tendency to experience losses as significantly more painful than equivalent gains are pleasurable. This makes leadership difficult. In management teams and boards, saying yes is easy. Yes to new initiatives, projects, and bets. Saying no—or shutting something down—is harder. That’
When investing, it’s critical to look beyond the idea and the numbers. The leadership team matters most. Strategy will change. Markets will change. But a strong leadership team determines whether a company adapts—or stalls. In Good to Great, Jim Collins puts it simply: “First who, then what.” Get
For years, we competed head-to-head with our rivals. Then we chose to open Trainingportal and invite those same competitors in. We chose to build a marketplace rather than protect a closed channel. We chose to put customer needs ahead of our own comfort. It was not the easiest
For boards, churn should never be viewed as an operational metric alone. It is a strategic signal about product relevance, execution quality, and market fit. High churn rarely means “customers are unhappy” in general. It usually means something more specific: * The company is selling to the wrong segment * Customers don’
NRR tells you whether growth is structural or just sales-driven. It shows what happens to revenue after the contract is signed. * NRR < 100 %: The company is leaking value. New sales are masking churn. * NRR ≈ 100 %: The business is stable, but not compounding. * NRR > 120 %: Customers are expanding.
As more teams hire across borders, most still rely on fragmented solutions: recruiters to find talent, EORs to handle compliance, and internal teams left to stitch everything together. That approach slows hiring, increases risk, and makes global growth harder than it needs to be. Fronted changes that by bringing recruitment,
Leadership is about managing complexity. Reality consists of many moving parts: people, strategy, technology, finance and culture. Everything is interconnected, often in demanding ways. A leader must first understand this whole. See connections, dependencies and contradictions. Understand why something is difficult before trying to solve it. But leadership is not
To succeed, many companies eventually need to separate the SaaS business from the consultancy. A SaaS business needs clarity and protection. It requires a dedicated product roadmap, long-term investment decisions, and incentives that reward scale rather than hours billed. When SaaS lives inside a consultancy, it is constantly exposed