NET NEGATIVE
NET NEGATIVE
Valuation Defence for B2B SaaS
Valuation Defence for B2B SaaS
Your retention number determines your multiple. Most founders have never checked what's actually inside it.
We build commercial architecture to make growth absolute.
THE DUE DILIGENCE BLIND SPOT
THE DUE DILIGENCE BLIND SPOT
Financial diligence audits past ARR. It rarely audits what's underneath it. A healthy NRR figure can be quietly propped up by reactivated revenue, undocumented grace periods, or a health score that's never had its false positives checked. Investors and boards routinely treat a strong-looking number as settled fact, until it becomes clear that it isn't.
THE 120% RULE
THE 120% RULE
1. CS as a Revenue Function
If your CS team isn't structurally positioned to drive expansion, not just protect against churn, it's operating as a cost centre no matter what the org chart says. We rebuild the mandate so CS owns growth, not just retention.
1. CS as a Revenue Function
If your CS team isn't structurally positioned to drive expansion, not just protect against churn, it's operating as a cost centre no matter what the org chart says. We rebuild the mandate so CS owns growth, not just retention.
2. Expansion-Led Growth
Growth shouldn't depend on a CSM's individual persuasiveness. We align pricing, packaging, and product so expansion happens because the system is built for it, not because someone worked hard enough to force it.
2. Expansion-Led Growth
Growth shouldn't depend on a CSM's individual persuasiveness. We align pricing, packaging, and product so expansion happens because the system is built for it, not because someone worked hard enough to force it.
3. Audit the Revenue Foundations
Before we touch anything else, we find out what your retention number is actually made of. Real renewals, reactivated accounts, discount-dependent saves, they're not the same dollar, and most companies can't currently tell them apart.
3. Audit the Revenue Foundations
Before we touch anything else, we find out what your retention number is actually made of. Real renewals, reactivated accounts, discount-dependent saves, they're not the same dollar, and most companies can't currently tell them apart.
Commercial Engagement
Move to a retention model that survives scrutiny.
Founder advisory. Investor diligence support. Revenue operating model design.
Commercial Engagement
Move to a retention model that survives scrutiny.
Founder advisory. Investor diligence support. Revenue operating model design.
01. The 10-Point Retention Audit
Best for: Founders and investors who suspect the retention number looks better than the business underneath it.
Protocol: A focused diagnostic of what's actually inside your current NRR.
Scope: We separate real retention from reactivated revenue, discount-dependent saves, and undocumented accounting choices.
Outcome: A clear report on where the number is solid, where it's fragile, and what to fix first.
02. Revenue Operating Model Design
Best for: SaaS companies building for a future raise or exit who want their retention story to hold up under diligence.
Protocol: A structured engagement to align product, sales, and CS under a single revenue mandate.
Scope: We replace ad hoc saves with a system built to produce expansion on purpose.
Outcome: A retention number you can defend in a board meeting or a data room, because you know exactly what's inside it.
03. The Retention Briefing
Best for: Investors and boards who need a clear read on a portfolio company's retention story before or after a deal.
Protocol: A focused 90-minute session.
Scope: A direct briefing on what the numbers actually show, and where the real risk sits.
Outcome: A shared, accurate picture of the retention position, and what it would take to change it.
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01. The 10-Point Forensic Audit
Best for: Founders and Investors who suspect the growth engine is compromised but can’t see the cracks.
Protocol: A 48-hour clinical diagnostic of your current Net Revenue Retention.
Scope: We strip away the "Success" narratives and sentiment scores to audit the raw integrity of your revenue core.
Outcome: A forensic report identifying structural leaks, involuntary utility anchoring gaps, and your "Heroics" dependency score.
02. Recurring Revenue Architecture
Best for: SaaS companies engineering for success from day one, preparing for exit or facing valuation compression.
Protocol: A board-level engagement to re-engineer the product-to-market bridge and systematize growth.
Scope: Deployment of the 120% Rule framework. We dismantle the "Relationship Model" and install autonomous expansion by design.
Outcome: A structural pivot from manual saves to involuntary expansion. We move your NRR from variable to high probability.
03. The 120% Briefing
Best for: PE Operating Partners needing a technical scalpel for a underperforming portfolio asset.
Protocol: A high-intensity, 90-minute strategic intervention.
Scope: A direct briefing for Private Equity partners or executive boards. We provide the forensic blueprints to stop funding "firefighting" and start funding architecture.
Outcome: Immediate alignment on the new valuation reality and a roadmap for the Net Negative transition.