We discuss very successful exits which don't meet the VC prognosticators social media pressure How to negotiate with channel partners, referral partners, agencies, and executives who promise to sell your product for you (they won't) And we dive into how internal competition has impacted me in my career and how it has created greats like Hall of Famers and Super Bowl champions.
Three Things I Learned In SaaS, Sports, Tech and Live Events
1. "10 years to 10m ARR." The social media gurus talk often about the growth rate needed for your saas to be a unicorn. Don't get too roped in by black-and-white approaches to business. We've had a number of successful private equity firms looking for "10 years to 10m in ARR." Many more friends who took that path and eventually became massive success - some unicorns.
2. Don't ever pay for meetings. Pay for outcomes. There so many vendors, channel partners, value-added resellers, consultants and the like out there who will want to "help" you sell. Many of them are compensated by meetings or introductions. It's a trap. Say no and offer much more for outcomes. If they won't agree to the terms your sales team does - run.
3. Internal competition, denounced and disliked by many in the moment, is necessary and must be encouraged. I lamented constantly fighting for the starting job in my prep and college career in the moment. Looking back now, what a blessing it was. That chip on Tom Brady's shoulder? Google Drew Henson's high school recruitment. Competition internally is good for everyone, even when they don't like it in the moment.