Two of the great SaaS start-ups working out of the 18,000+ square foot SaaStr CoSelling Space in SF have recently graduated, so we have room for 2 more full-time teams, as well as a handful more of half-time teams (e.g., if you are HQ’d in Europa but here a lot). Apply here! If you are post-revenue in B2B and want to work in a positive, reinforcing environment with other great SaaS start-ups, apply now! The post Need a Great Place to Work Out Of? We Have Room for 2 More Startups at the SaaStr CoSellingSpace in SF appeared first on SaaStr.
Welcome to Episode 181! Jerry Jao is the Founder & CEO @ Retention Science, the startup that brings intelligence to your marketing automation through artificial intelligence that delivers a personalized customer experience, at scale. To date, Jerry has raised over $10m in VC funding with Retention Science from great friends of the show in Forerunner Ventures, Upfront Ventures, Clark Landry, Andy Rankin, and more fantastic names. Prior to founding Retention Science, Jerry founded two other e-Commerce marketing technologies and served as Strategic Innovation Officer to Clear Channel Radio. Jerry is also a Guest Lecturer at The Kellogg School of Management and sits on the board of Penango. In Today’s Episode You Will Learn:
- How did Jerry make his way into the world of SaaS with the founding of his first company? What have been the top 3 mistakes that Jerry has made since founding Retention Science?
- With Continue reading "SaaStr Podcast #181: Jerry Jao, Founder & CEO @ Retention Science Shares How To Gain Enterprise Clients As A Startup"
The other day I met with a great founder doing about $40k in MRR that wanted to raise some extra money to “make sales more repeatable.” Sounds good. I started to dig in a bit to understand what she really meant though. At this rough stage ($20k-$80k or so MRR), usually most SaaS startups finally have a regular stream of leads — just not that many. 10 a month, 20, 100, whatever it is. Leads now come in regularly because at least something is working, there just aren’t a lot of them. Not enough to grow fast enough, but enough to grow regularly. So we dug into the math. This great start-up is closing about 5 new customers a month, and they want more. They want more “salespeople” to help them. But let’s dig into what’s really happening:
A few weeks back, we officially unveiled the SaaStr Co-Selling Space in downtown San Francisco during our 2018 Spring Soiree. There were made-to-order grilled cheeses, custom cocktails, and—of course—top-notch content from a few of today’s top leaders in SaaS. Intercom CEO Eoghan McCabe sat down with Jason Lemkin to chat about the evolving roles of sales and marketing in tech, the importance of continuous reinvention, connecting with customers as you scale, and more. Watch the full video recording here and/or read our highlights from the session below:
A few notable highlights from Eoghan’s Spring Soiree session with Jason:
- Rethink traditional sales and marketing models: Eoghan talked about how he was at first hesitant to build more traditional-style sales and marketing teams, but later realized they could play unique roles at Intercom. The business first dipped its toes into the marketing waters by creating educational content for prospects—which created demand—and then Continue reading "Intercom CEO Eoghan McCabe & Jason Lemkin at SaaStr’s 2018 Spring Soiree (Video)"
Welcome to Episode 180! David Skok is a serial entrepreneur turned VC at Matrix Partners. He founded four companies: Skok Systems, Corporate Software Europe, Watermark Software, and SilverStream Software and did one turnaround with Xionics. Three of the companies he founded went public and one was acquired. In 2001 David joined Matrix Partners, who had backed his last two startups, as a General Partner. David’s successful exits as an investor at Matrix include: HubSpot, JBoss, AppIQ, Tabblo, Netezza, Diligent Technologies, CloudSwitch, TribeHR, GrabCAD, OpenSpan and Enservio. David currently serves on the boards of Atomist, CloudBees, Digium, Meteor, Namely HR, Salsify, and Zaius. You can also find David’s amazing blog here! Huge thanks to Hardi Meybaum and Jason Lemkin for the intro to David today. In Today’s Episode You Will Learn:
- What are the leading indicators that early stage VCs dig deep on to assess the strength of product Continue reading "SaaStr Podcast #180: David Skok, GP @ Matrix Partners Shares The Right Way To Analyze Sales Rep Productivity"
After SaaStr Europa, we had a second, more informal event a few days later at the breathtaking headquarters of Algolia. Over 240 founders and execs got together to talk about classic SaaStr learnings and mistakes in scaling that first $10m in ARR. The full video is below. A bunch of the themes and points you may have heard already, but there are a lot of fresh new takes on older SaaStr themes. It was also fun to do the session together with Algolia’s head of revenue, Gatean Gachet. Gatean was employee number 5 at Algolia and we’ve worked together for over 4 years, from $12k in MRR all the way to many tens of millions of ARR. It’s a good one! The post Watch The SaaStr Masterclass “From $0 to $10m in ARR” from Algolia in Paris (Video ) appeared first on SaaStr.
As the CRO at SaaStr, I am doing a lot of hiring these days! A lot. And that means spending countless hours skimming through resumes, taking phone screens, and meeting candidates in person. Quick shameless plug–seriously, I am hiring for a lot of people, so if interested in working at SaaStr–check out our open jobs here. Typically, when I go on a hiring spree, I spend at least 20% of my time screening and interviewing candidates–(if not more time TBH). Because the longer a position goes unfilled the more difficult it becomes to fill, and the more difficult my life becomes because I am trying to do all of these jobs myself. And if I am doing everyone else’s job, it is incredibly difficult to do my own job. Since I do a lot of hiring, I am constantly re-inventing the list of attributes I look for in a new Continue reading "5 Traits to Look For When Hiring An Early Marketing Team For Your Startup"
In SaaS, usually one of 5 things enable a new vendor to break-out in a crowded space:
- 10x better at One Important Thing. In the early days, you will be buggy and feature-poor. Maybe even in the not-so-early days But if you are 10x better at (x) One Important Thing that (y) customers value and will pay for, that’s enough. Many founders get this wrong however, and build a key feature that is indeed 10x better — but not one important enough to pick a raw new vendor to get. It’s only a subset of critical functionality that customers will pay to have implemented 10x better than an existing, trusted vendor. Usually, the part that is close to the money they make, manage, process, or collect. A little more here.
- Dramatically Cheaper. This one’s tough to play. Because businesses trust and value brands they can rely on. But often, Continue reading "5 Ways to Enter a Crowded Market. And 3+ Ways Not To."
Here’s my list of the best golden advice I was given as a first-time — and second-time CEO:
- Manage People — In General, and Earlier. The earlier in your career you can learn how to manage people, the faster you can excel in learning to scale. Managing people isn’t always fun. But embrace it if you want to be a CEO, a founder, and/or be a part of something bigger.
- Listen to “Audibles” and Act on Them. Your best bosses, VPs, mentors and others will give you “audibles” — quick bits of micro-advice duringpitches, customer meetings, interviews, etc. While you are in the process of working They’ll see where you could improve in real-time. Take this real-time feedback and leverage it and act on it immediately. If someone else great is in the room with you, these audibles can make the difference between a positive outcome and a Continue reading "The 7 Best Pieces of Business Advice I Was Given"
Recently I assembled my “Top 15” list of Sales & Marketing mistakes SaaS startups make as things start to take-off. We’ve touched on quite a few of these before on SaaStr (will link to them), but I thought this might be a helpful checklist to challenge your thinking at a minimum. We’ve all made many of these mistakes ourselves, myself included I’m even making a few myself again. But if you see yourself making any of the mistakes below, it’s fairly easy to make a course correction. Just do it! It will help. Sales:
- Hiring any reps you wouldn’t buy from. This never works out in the early days. Later, once you have a strong VP of Sales, it’s fine though. More on that here.
- Hiring a “VP” of Sales before you have 2 scaled reps and a repeating process. Never works out.
- Crazy quotas. Continue reading "15+ of The Top Sales & Marketing Mistakes SaaS Startups Make"