By Chelsea White, Integrated Solutions Marketing Manager, CardConnect In a world where speed is imperative, business owners can’t afford to be anything but efficient. Fully integrating payment acceptance into your SaaS offering is an excellent way to empower them to do just that. Whether it’s by simplifying the reconciliation process, improving data security or eliminating human error, discover all of the time-saving benefits integrated payments can help you deliver.When creating an application, building the proper payments architecture can have a big impact on providing your customers with a seamless experience. These days, people want to work smarter and more efficiently, and integrated payment processing can enable business owners to do just that. From simplifying the reconciliation process and reducing human error to improving data security, integrated payments can bring some pretty valuable features to your software application. Many Independent Software Vendors (ISVs) have already recognized just how beneficial integrated Continue reading "Give Users Another Reason to Love Your Software with Integrated Payments"
There are a few magical moments as you go upmarket in SaaS:
The first time you close a $1m TCV (total contract value) deal. E.g., $250k a year for 4 years.
The first time you close a $1m ACV deal. A $1,000,000 a year deal.
The first time you close a $1m ACV deal — every month. 12 a year. This one takes a while to get to ?
But once you can close one $1m deal, you can close another, and eventually 10, and then, like ServiceNow, a stunning 600+ per quarter.
How is this possible? Well, if you haven’t worked in the Fortune 500 / Global 2000 before, it may seem confusing.
But some rough maths:
The largest Global 2000 companies will pay 10-20+ SaaS vendors $20m+ or more per year. Their core ERP, CRM, etc. vendors. Workday, Salesforce,
Slack is a company that needs no introduction. They went from zero to a valuation of $7 billion in only five short years, and have become a poster child for the freemium, bottoms-up go-to-market strategy. Their early success with product led growth (PLG) has also made them a leader in this emerging discipline. But, despite their consistent attainment of stratospheric heights, it turns out that they have built their empire on some pretty down-to-earth concepts and philosophies.
Fareed Mosavat, Slack’s Lifecycle Product Manager, came to the company with multifaceted experience. In addition to working at a variety of startups (including Instacart, RunKeeper and Conduit Labs) he also spent seven years working in computer graphics at Pixar. Throughout his career, the one through line has been consistently working at companies whose products exist at the intersection of technology and the most fundamental parts of our human lives—health, sustenance and communication.
It’s very difficult question to answer. How do you judge a leader? Is it financial success? The loyalty they engender? Their ability to inspire? There are war-time leaders and peace-time leaders. Leaders may be understated or zealous. I’m not sure we’ll ever be able to say definitively what constitutes a great leader. Regardless, we all want to improve our ability to lead, whether it’s a small team or a Fortune 500. But how?
One way of looking at leadership development is through Adult Development Theory, an idea pioneered by Dr. Robert Kegan, a developmental psychologist at Harvard that borrows from others in the field.
Adult development theory has five stages. The first two we develop in childhood: impulsive mind and imperial mind. The next three we learn in adulthood. I’ve put together a quick summary below. For greater depth, there’s a good overview here.
Socialized Mind (most adults): we Continue reading "What Makes a Great Leader?"
One thing almost every founder I meet with these days has figured out is that outbound email campaigns work. But not always at first, not always the same way.
It took me a while to figure it out, too. In my first start-up, I cold emailed the VP Engineering of a Fortune 100 company. He called me back the next day. I thought I was a genius! My second cold email, I got a Top 3 prospect to call me back in 24 hours!
Well, later I learned why. He was running a $500m+ initiative, and a critical vendor who was our competitor was failing. They were 18 months behind, and they’d just increased pricing 30%. He was desperate for another vendor. And I emailed him at just the right time. With just the right, crisp, clear message. Continue reading "Email is Amazing. You Just Have to Use It Properly."
Almost everyone in business checks it multiple times a day. And importantly,
Senior folks are super-engaged with their inbox. They do less work themselves, and spend more time monitoring what their team is doing. Sometimes, senior execs do little more in a crowded day than attend meetings — and monitor their inboxes.
Jim Baum is currently a Venture Partner at OpenView and serves on multiple boards including Logz.io, Applitools, project44 and DataStax. Jim previously served as President and CEO of Netezza where he drove the nearly $2B acquisition of Netezza by IBM in 2010. Jim also led Endeca’s early rise from tiny startup to the leading provider of innovative information access and delivery software solutions. Prior to Endeca and Netezza, he served at PTC as an Executive Vice President and General Manager.
On this episode, Jim discusses his experience as a venture partner and the difference between joining a board as an investor vs. an independent board member, why sitting on a board is a great opportunity for executives and advice for expansion stage CEOs looking for the right board members.
Editor’s Note: This article first appeared on Highspot’s blog here.
Prospecting, pitching, tracking engagement — there’s no question that modern technology solutions have made it easier for sellers to complete these essential tasks. But even as the tools have improved, selling has become more complicated as buyers’ expectations have risen. With increased access to information, buyers today do more of their research independently and invite more internal stakeholders into buying decisions. To capture and win buyers’ attention, sellers must now research and present insightful solutions tailored to multiple decision makers’ needs. The result is that reps end up spending more time trying to keep up with increasingly complex sales processes, impacting overall sales productivity.
Sales Productivity Definition
Sales productivity is calculated as the ratio of effectiveness (outputs) versus efficiency (inputs) and is a baseline factor in the success and health of a company. Put another way, optimal sales productivity