In 2020, China is expected to generate 55 billion U.S. dollars in the global medical technology market.

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China’s Food and Drug Administration is encouraging new developments in the health care industry and to be considered innovative, a product must be a major improvement from the previous product. As of 2013, China’s medtech industry was the fourth largest in the world and is expected to be the second largest by 2020.

More Tech Services Stats

86% of SaaS businesses treat “New Customer Acquisition” as their highest growth priority, both in terms of executive support and funding available

53% of marketers say “no” to projects never or just a few times a year, while another 26% simply don’t have the authority to say “no” at all

Women-led companies have historically performed three times better than those with male CEOs

13.7% of sales are online

Best-in-class SaaS companies achieve 5-7% annual revenue churn – equivalent to a loss of $1 out of every $200 each month

70% Say Presentation Skills Are Critical For Career Success

SaaS businesses face significant losses in the early years (and often an associated cash flow problem)

The median annual unit churn for SAAS companies was 10% in 2016

The very best SaaS businesses have a negative revenue churn rate and will have a Revenue Retention Rate of greater than 100%

Unlike many other industries, if a software company grows at only 20%, it has a 92% chance of ceasing to exist within a few years

More Growth Strategy Stats

It’s 4x cheaper to upsell existing customers than acquire new customers: costing just $0.28 to acquire an additional dollar of revenue

It’s essential to have a point of view that puts a stake in the ground and breaks through the clutter.

Companies with longer contracts (2+ years) reported the lowest annual unit churn

As of December 2018, there were total 105,000 employees in Lockheed Martin, as compared to 126,000 employees in 2015.

The fastest growing SaaS companies raise an average of $9.5M in Series A funding

The median Customer Acquisition Cost (CAC) for upsells is just $0.28 per $1, less than a quarter of the $1.18 spent to acquire $1 of revenue from a new customer

The metrics that matter for each sales funnel, vary from one company to the next depending on the steps involved in the funnel

SaaS businesses face significant losses in the early years (and often an associated cash flow problem)

Revenue Churn Rate = (RCR) (MRR at beginning of month – MRR at end of month) – MRR in upgrades during month / MRR at beginning of month

Moving from $1.5 million with an eye towards $10 million in ARR is a tough a task and will take an excellent VP of sales to get you there