Tempted to ramp up your sales and CS teams? Hold that thought. Have you really nailed your product-market fit yet? Holding off (and getting your PMF right) might be the smart move that sets your company up for long-term success. It’s advice from Sean Foster, the CRO at Anomali and one of our Catalyst mentors. Today we asked Sean to share what common challenges he hears from founders and what he's looking forward to in this year's cohort. 💰 What's the most common challenge you see young companies face? "Cash flow is of course the key component every startup must have an eye on at all times. That said, I think young companies must spend a lot of time on product market fit and ideal customer profile. Too many times, I see companies want to spend money on sales and customer success when they don't have their PMF and ICP down cold. It's a big money and time waster...spend that time and money on really dialing in your PMF and ICP." 🌠 What's one piece of advice for founders? "I know it's easy to say but, 'Enjoy the journey!' Every day is hard in startup land, just take a minute at the end of each day and write down the one or two things that you did well or something new that you learned...you'll be amazed at the end of each week, month, quarter, how much the company is actually progressing even though the numbers may not say the same thing." 📚 What are you most excited about as a Catalyst LP? "Learning about new ideas and technologies that can potentially change the industry and to be able to help those founders ramp as fast as possible by sharing my experiences (and mistakes) so they can grow as quickly as possible." Applications for this year's Catalyst cohort close on July 12. If you know someone who may be interested, give this post a like, share or send them the application link (https://lnkd.in/ggzmVRA2).
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Most startups are chaotic for the wrong reasons 𝗧𝗵𝗲 𝘄𝗿𝗼𝗻𝗴 𝗿𝗲𝗮𝘀𝗼𝗻𝘀 1. Hustle to execute on the new shiny untested hypotheses 2. Too many layers (function and/or hierarchy) between customers (users) & builders 3. Hard push on sales to hit arbitrary goals, with no clarity on what is limiting sales today 4. The focus is more on what competition is doing or has done, than how to serve our customers 𝗧𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝗿𝗲𝗮𝘀𝗼𝗻𝘀 1. There is rapid iteration based on learning from customers 2. There is ruthless prioritisation, so failed experiments are shut down fast, even if it is unclear what else to do 3. Customers are frustrated but not churning - they see significant progress and want the problem solved 4. Your competition is out-executing you, challenging you to raise the bar 𝗽.𝘀 - It's time to pivot. From the wrong reasons to the right ones ?
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🚀 Is Your Startup Ignoring Its Biggest Revenue Leak? 🚀 As startup founders and SMB leaders, we're constantly chasing growth and innovation. But what if I told you that despite our best efforts, a significant portion of our potential revenue is slipping through unnoticed cracks? 💡 Startling Stats: A whopping 95.4% of SMBs suffer annual revenue losses due to operational challenges in lead lifecycle management. It's not just about a few missed opportunities; it's a substantial hemorrhage that could amount to at least 5% of your annual revenue. 🔍 The Culprit: Our obsession with growth often leads us to overlook the inefficiencies in our processes. Time-consuming tasks, disjointed systems, and overly complex tech stacks are silently draining our resources. 🔗 RevOps: The Game Changer: Enter Revenue Operations. More than just a buzzword, RevOps could be the lifeline your startup needs. It's about aligning sales, marketing, and customer service to work seamlessly together, plugging those revenue leaks and paving the way for sustainable growth. 🤔 The Real Question: Can SMBs afford RevOps? With such alarming statistics, the question we should be asking is, can we afford NOT to implement it? Ignoring operational inefficiencies is no longer an option in this competitive landscape. 📈 RevOps: An Investment, Not a Cost: Implementing RevOps is an investment in your company's efficiency and future. It's about turning every aspect of your business into a well-oiled machine, driving towards unified growth goals. 💬 Your Thoughts? Have you experienced these operational challenges? How are you tackling them? Are you considering RevOps for your startup or SMB? Let's start a conversation. Drop your insights and questions below – let's navigate these challenges together! #StartupGrowth #RevenueOperations #SMBSuccess #LeadManagement #BusinessInnovation #OperationalEfficiency #RevOpsStrategy
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Over the years I've worked with a lot of startup Founders. They all talk about wanting more predictability. Here's the best way I've seen to achieve it: 👇 First, why does predictability matter? Companies with predictable customer acquisition and revenue growth are more attractive to Investors. Don't get me wrong, nothing is ever 100% predictable. No one can see the future. But great businesses strive for predictable outcomes. You can do this too: 👉 Become an Expert in the 𝐕𝐚𝐥𝐮𝐞 your Product brings to your customers.👈 Understanding 𝐕𝐚𝐥𝐮𝐞 equals: ✅ Minimizing churn. ↳ You know why customers leave ✅ More consistent selling. ↳ You know why customers buy ✅ Stronger, loyal customer base. ↳ You know why customers stay ✅ Knowing how you can increase value. ↳ You know what else customers want The key here is to consistently talk with your Customers. Ask them about the 𝐕𝐚𝐥𝐮𝐞 they are getting. Work with them to quantify it. When you're an expert in how your Product delivers 𝐕𝐚𝐥𝐮𝐞, predicting the future won't seem so difficult. Remember, your customers aren't buying your Product. They are buying the Value your Product delivers. Have you seen other ways to increase predictability? Let me know in the comments. ------------------------------------ Hi, I'm Joel, the Product Value Evangelist. If you enjoyed this...like, comment or re-post ♻️ to those who might be interested. 🤝 Follow me for tips on how Startups can win and keep more customers.
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How to differentiate your VC pitch from your SALES pitch: (A guide for early-stage startup founders) I got asked this question by a Google for Startups founder last week. I get asked this every time I work with a new batch of founders on their startup pitch, so I thought I'd make this handy guide for VCs vs CUSTOMERS 👇 Here's WHAT THEY CARE ABOUT, WHAT TO SAY, & HOW TO SAY IT: Pitching to VCs 💰 : - They care about 10x returns over everything (usually) - They need to hear (among other things) about your: ↳ MARKET SIZE ↳TRACTION ↳MOAT ↳TEAM ↳VISION ↳WHY NOW ↳USE OF FUNDS ↳GTM STRATEGY ↳ FINANCIAL PROJECTIONS (Customers need NONE of this, except some elements of Traction & Vision) - They need to sense, by the way you pitch, that you are: ↳ SMART ↳ REALISTIC ↳ PASSIONATE ↳ DRIVEN ↳ CAPABLE ↳ ADAPTABLE ↳ RESILIENT ↳ OPEN-MINDED (Because they're going to be working with you and trusting you to do something extremely difficult & deliver them value over a long and turbulent time period) Pitching to potential CUSTOMERS 🤝 : - They care about YOU solving THEIR problem quickly, affordably, and/or easily - They need to hear (among other things) about: ↳ PROBLEM ↳ SOLUTION ↳ BENEFITS ↳ PRODUCT DEMO/WALK-THRU ↳ CASE STUDIES ↳ TESTIMONIALS ↳ DIFFERENTIATOR/USP ↳ ROI THEY CAN EXPECT ↳ NEXT STEPS (Obviously some of these elements are necessary in the VC pitch) - They need to sense, by the way you pitch, that you are: ↳ RELIABLE ↳ COMPETENT ↳ TRUSTWORTHY ↳ EMPATHETIC ↳ HONEST ↳ FLEXIBLE ↳ UNDERSTANDING ↳ ENTHUSIASTIC ↳ NOT DESPERATE (Because they are trusting you with their money and time, and they need to feel like they're able to communicate with you if something isn't working) THAT'S IT! Whew, we made it 😅 If you found this helpful, and want to transform YOUR startup pitch, DM me to book a call and find out how I can help!
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Senior Product Manager @ Empact Technologies | User-Centric Problem Solving & Design 👩🏼💻 | Avid Reader 📚
HELP ME Sales & Early-Stage network: Say I want a tool that costs almost nothing for a very, very small founding team to do sales outreach and I don't want to do everything in spreadsheets. Ideally, I would be able to: - A/B test messaging - set up cadences - find new contacts - get phone numbers and emails - ensure we are not all going after the same contacts Obviously, my first pick would be Outreach with LeadIQ but - we aren't there yet. 😊 Is the best option to be scrappy with spreadsheets and Google reminders, or are there some challenger tools out there for startups? Does anyone have some pro tips? #startup #earlystage #sales
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Entrepreneur | Driving Success with MySQL, MariaDB, MongoDB & PostgreSQL | Technologist | Board Member & Advisor
$100M in ARR is the best measure of startup success. Here's how founders can get there. https://lnkd.in/egDEEnJS
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Enterprise Sales @Angular Minds | Photographer@Instagram | Writer@LinkedIn | Husband@Home | Sanaatani | Sales Content Marketing for New-Age Businesses | Fractional CMO | Startup Advisor | Don't Grab my Book
The core reasons why a startup fails are related to their decision makers. Before starting up, they don't understand the market And when they present their products, market seems ignoring them Because that product is not solving their ICP's concerns. Build a Product which actually makes someone's life better. Then, customers will buy from you happily. Subscribe my Free Newsletter: https://bit.ly/3ybdGyO P.S., I write to make sales easier for you. Follow me at Rohit SAROJ
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Ever wondered how quickly your business can hit the $1 million or $10 million annual earnings (ARR) milestones? 📈 We've got game-changing insights for you! 🌟 Let's Break It Down! 🔮 🌟 1. Fast-Track to $1M: The top SaaS companies reach $1 million in just 9 months after their first paying customer, while most startups take around 2 years and 9 months. 📈 2. The $10M Goal: Leading SaaS businesses achieve $10 million in about 2 years and 9 months, but regular startups take over 5 years, facing some hurdles along the way. 📊 3. Scaling Is Tough: The reality check: Only 13% of startups reach $10 million even after a decade of hard work. 🚀 4. Super Growth: The best SaaS businesses experience staggering growth, with some at 192% annually, and even the slower ones growing at 110%! 📝 5. The Subscriber Secret: Most startups go from $1M to $10M by acquiring more customers; less than 5% achieve it by charging more. 🌐 Now, Let's Get Practical! 🌐 📊 Wondering what you need to make this happen? How much money? What kind of team and what they should do? Where do you start? 💡 We're Here for You! 💡 📣 If you're thinking, "I don't know" or "Let's just pick someone from the team," you're exactly who we're looking for! 🚀 Let's Chat! 🚀 🌟 We're experienced Business Development and Sales Advisors, ready to guide you. We'll help you figure out the resources, budget, and the right team members to make your dreams come true. If needed, we'll assemble and manage the team for you. 📞 Reach out today, and let's start this exciting journey together! Your path to growth begins with KSW Solutions! #saasgrowth #startupsuccess #growthmindset
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Being emotionally strong is so important for startup founders to be able to navigate the ups and downs. The ups are usually euphoric and you feel you have something big going on. For example, when you land your largest deal in your short history. The downs are equally impactful, but on the other side. For example, when your most celebrated customer leaves you for a competitor. You start to question a lot of things, sometimes even the existence of your business. The key is to not give up and continue fighting on for that extra few months. With time, a lot of changes happen. - The product becomes more mature - You learn so much more about the market - New, more effective sales strategies are uncovered - You win some customers who become absolute champions of your product - Your long term investments like content and SEO start yielding results The list goes on and on. Great things don't get built in a few days. It takes time and perseverance. "I've not failed a 1,000 times. I've found 1,000 methods that don't work." #startuplife #b2bsaas
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