Customer Onboarding Success Secret: Don’t Overwhelm Customers

I’ve said this before, but it is worth repeating; Customer Success is not limited to one part of the customer lifecycle, and Customer Success Management is not limited to simply helping the customer get up and running at first or to save them from churning later. Rather, when a company has Customer Success as their operating model, they see every aspect of the customer lifecycle and every milestone of the customer journey as just as important as the rest. In this article I tackle one of the biggest problems I see in Customer Onboarding. It’s a problem that isn’t caused by neglecting the customer… in fact, it’s caused by the exact opposite: overwhelming the customer. Let’s explore this, shall we? Most of the time, you overwhelm our customers. You overwhelm your new users, but it’s not because you’re being negative or doing anything wrong. In fact, you’re probably trying to
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Should an entrepreneur go ‘All in’ and risk everything on a venture or play it safe?

I think this is a false choice. Every successful founder I know thought his or her venture was not that risky — at least when she started it. Sometimes, oftentimes, 6–9–12–24 months in, you see just how risky it is. But great entrepreneurs see white space, gaps in the market. They assemble a team to attack it. And they rarely see it as all that risky in the very beginning. Even though the odds certainly say it is. So … if your gut says it’s too risky, that you are worried about going ‘all in’ … don’t do it. That’s a sign not to, in my experience at least. View original question on quora The post Should an entrepreneur go ‘All in’ and risk everything on a venture or play it safe? appeared first on SaaStr.

SaaStr Podcast #138: Vineet Jain, Founder & CEO @ On Why Land & Expand Is Wrong

Welcome to Episode 138! Vineet Jain is the Founder & CEO of Egnyte, the startup that delivers smart content collaboration in the cloud or on-premises. They have raised over $60m in VC funding from the likes of Kleiner Perkins, Google Ventures, and one of our favourites here, Mike Maples @ Floodgate. Prior to Egnyte, Vineet founded and successfully built Valdero, a supply chain software solution provider, funded by KPCB, MDV, and Trinity Ventures. Before that, Vineet held a variety of senior operational positions at KPMG and Bechtel. In Today’s Episode You Will Learn:

A Growth Manifesto

When I read startup news, it pits every one of us against growth. Companies are getting described based on growth in funding, growth in product, growth in customers, growth in hiring, growth in partnerships… And this makes complete sense. As Paul Graham reminds us: “A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology or take venture funding, or have some sort of “exit.” The only essential thing is growth. Everything else we associate with startups follows from growth.” I, and most of you reading this – I’m sure, have been mesmerized by this phenomenon of growth. And by mesmerized, I sometimes mean paralyzed, intimidated, or scared. This year we celebrate 5 years working on Lessonly. And after a half-decade, I feel more urgency than I
Continue reading "A Growth Manifesto"

A Growth Manifesto

When I read startup news, it pits every one of us against growth. Companies are getting described based on growth in funding, growth in product, growth in customers, growth in hiring, growth in partnerships… And this makes complete sense. As Paul Graham reminds us: “A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology or take venture funding, or have some sort of “exit.” The only essential thing is growth. Everything else we associate with startups follows from growth.” I, and most of you reading this – I’m sure, have been mesmerized by this phenomenon of growth. And by mesmerized, I sometimes mean paralyzed, intimidated, or scared. This year we celebrate 5 years working on Lessonly. And after a half-decade, I feel more urgency than I
Continue reading "A Growth Manifesto"

In “friends and family” rounds, should you only raise capital from accredited investors? Why or why not?

Let me suggest one simple rule: don’t take an investment from any investor where the amount is > 1%-2% of their net worth. If you do, it will be nothing but headaches. They will stress about it. They will want to be over-involved in your business. They will drag out signing consents, etc. They will want to meet, talk, come by the office too often, have coffee, things you just won’t have time for. You want investors that can afford to lose their check entirely, at least the first check in. At a practical level, if you are starting a lemonade stand, mom and dad can fund you with less than 1%-2% of their net worth. But in most startups, non-accredited investors should be out of this picture if for no other reason that it’s too much of their net worth. One small exception might be a bunch of $10k-$20k Continue reading "In “friends and family” rounds, should you only raise capital from accredited investors? Why or why not?"

We are a tech company with over $150k in monthly revenues. People tell us to seek funding. But we don’t want that. Are we right?

You are right, do not raise venture capital. $150k in MRR is a time when you will become attractive to many investors, and perhaps, for the first time be “fundable”. But that’s not a reason to sell shares. There are only 2.5 reasons to raise VC money:
  • You have to, because you need the money, period.
  • You have to, because you need the money to compete (arms race you need to win). OR
  • You don’t have to, but you believe you can get a 10x+ return on that investment in terms of revenue.
Here, you aren’t under any pressure to raise, and if your gut told you that could get 10x the value out of each $1 invested, you’d want to take the money. When founders want capital they don’t strictly need to “go for it” — they know it. You don’t. Don’t raise venture capital. Not right Continue reading "We are a tech company with over $150k in monthly revenues. People tell us to seek funding. But we don’t want that. Are we right?"