I have been pondering about it for a while. We know we need to talk to target customers as soon as we can, but we don’t. We know we need to track key metrics – but we don’t. We know we need to reach out to mentors and founders who have been there and done that – we don’t. We know we need to engage with the press and basically invest in marketing (time, not necessarily money) but we don’t.
I have referred to Jason Cohen a few times this year as I read his blog at asmartbear.com. Jason is the founder of WP Engine and has quite a track record. As we try to fine tune our pricing in this piece in reference he talks about the pricing positioning – one that could potentially help you 8X your price. Super tempting.
Who ever has been watching the WeWork story unfold with the valuation going from 75B at IPO filing to 8B and no IPO or ’sinking IPOs of Uber, Lyft and Peloton’ may be reminded of the dot com bubble in 2000. According to Derek Thompson, staff writer at The Atlantic, host of podcast Crazy/Genius, it is actually ‘The Not-Com bubble’ popping.
I spend a lot of time meeting and talking to startups. Not only because they are a potential target group for our Buyer Seller Engagement platform Pitch.Link, but because as a product startup I naturally spend time continuously in the ecosystem, be it Canada or India. I love to see how people pitch their business ideas and figure solvable pain points. One universal one, Sales.
Alexis Conran hosted the show ‘The Real Hustle’ on BBC where he and his team ran elaborate scams on people. In this hugely entertaining TEDXBerlin talk he presents the 5 tactics used by conmen to fool us. Well the crux is that we mostly fool ourselves. Politicians, businesses and folks who want to sell their story to us routinely use these 5 tactics to get us to do what they want. People believing fake news spread by politicians or got into Bernie Madoff’s elaborate scams – eventually fall prey to the same techniques. When we are building our businesses how many times are we fooling ourselves?
The recent BDO report has pegged the global Martech business at $121Bn (more on this later.). That made me revisit the 2019 Martech Landscape which saw the lowest annual growth rate (3%) vis a vis the previous 7 years when the landscape grew from 150 (2011) to 6800 (2018) products. In the accompanying article Scott Brinker explains the evolution of the space.
Tomasz Tunguz wrote this very brief post on the counter intuitive situation to find that negative churn or account expansion best co-relates to the valuation of a SAAS company during Series A. Not revenue or rate of growth of revenue.
I dug out this very readable profile of Naval Ravikant, written in October 2015, by Sarah Lacy, founder of Pando and Chairman Mom. That month Anglelist was announcing multiple initiatives including a $400m fund with CSC group from China, a vehicle for VC’s to engage early and a Tinder like app for individual jobbers.