SaaStr

By The Time You Give Them a Raise, They’re Already Out The Door

SaaStr

If someone is looking for another job in Year 1, Even if they don’t take it … You’ve already basically lost them. Do more 1-on-1s Get more 360 feedback Talk more. I know you don’t have time. Make it. — Jason BeKind Lemkin (@jasonlk) October 11, 2020.

At About $2m in ARR, Every Great Hire Will Be Accretive.

SaaStr

Who should you hire, with limited budget? A VP of Sales? A Director of Demand Gen? Or A Head of Product? The answer is Yes. A truly great hire is >always< accretive. At least within just a few months. Hire anyone truly great you can find. Find a way.

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5 Tips To Improve the Odds When You Hire VPs Who Were Fired or Quit

SaaStr

As you scale up in SaaS, one thing I can almost guarantee is that you are going to hire some VPs who were either fired or quit their last role. Especially in Bay Area-centric startups.

7 Guidelines on Selling Some of Your Stock in a VC Round

SaaStr

"Secondary liquidity", where you can sell some of your shares in a round, is more and more common now. Should you sell if you can? The answer to me is simple: Are you OK if it turns out you never get another chance to sell? If the answer is Yes, don't sell. Otherwise, sell.

The Complete Guide to SaaS Revenue Modeling

SaaS financial models require that you build an income statement, balance sheet, and cash flow statement. In this e-book, we’ll focus on the most complicated SaaS input to model: revenue. Specifically, we’ll dive into two distinct methods for forecasting ARR, explain the relationship between ARR and Revenue, and also highlight how to model cash flow associated with revenue.

Could Someone Be a Better CEO Than You?

SaaStr

So it’s Q4. And the run up to the holidays and the end of the year is sometimes a time we quietly ask ourselves, after a few (or more) years in … Could Someone Do a Better Job as CEO? I did. I still do sometimes.

My Top 8 Mistakes Investing in SaaS Startups

SaaStr

Q: What are some of the most costly mistakes done by novice investors? My biggest mistakes in SaaS investing actually in the end haven’t been truly costly because, in the end, power laws mean your winners overwhelm your losers if you do it right. A few winners more than make up for the mistakes.

Pick Up The Phone. Answer the Chat. Be Present.

SaaStr

If your competition doesn't offer phone support, But you do … Watch your NPS eclipse theirs, all things being equal. Isn't that worth a few bucks? — Jason BeKind Lemkin (@jasonlk) October 16, 2020.

Why We Are Never Really Going Back to the Office

SaaStr

Stewart Butterfield threw out an interesting statistic in a recent interview with Fast Company … over 20% of Slack employees have been hired since Covid-19 hit and the shelter order in SF went into place. 20%+ of Slack's employees have been hired since Covid-19 hit.

You Can’t Hire a VP That You Don’t Love

SaaStr

Recently, a good friend of mine running a Hot SaaS Start-up asked me if he should hire a particular VP of Product candidate I knew well. The team he’d be managing was a big thumbs up on him. The board was in favor. And I knew this VP. This VP is a 10/10.

Sales 192

Are Your Embedded Analytics DevOps-Friendly?

Does your analytics solution work with your current tech stack and DevOps practices? If not, any update to the analytics could increase deployment complexity and become difficult to maintain. Learn the 5 elements of a DevOps-friendly embedded analytics solution.

10 Simple Tips to Do Better This Quarter — With The Leads You Already Have

SaaStr

SImple tips to Do Better in Q4 With What You Already Have: – Drive Down Churn – Drive Up NPS – Be More Grateful – Zoom with 10 Customers a Week – Promote Your Star(s) – Less Spam, more ABM – Weekly Webinar – Improve Lead Routing – Improve Lead Scoring – Talk to Every Prospect.

Churn 224

How To Get Better at Recruiting. (We All Need To).

SaaStr

90% of my evaluation of any leader that works for me is the quality of people they can get to work for them. This could be wrong… Maybe it should be 95%. — Todd McKinnon (@toddmckinnon) September 13, 2020. Recruiting is tough. I certainly don’t do it well enough.

Why Sales is a Tough Job

SaaStr

Q: Why are sales jobs the worst? Here’s why sales is tough: Can’t hide — not for long. At some point, you have to put real points on the board. Everyone will know. But in many other roles, you can sort of skate by if you aren’t too senior. Get a lot of No’s. A lot of them. Most of us can’t take it.

Sales 215

How to Win When There are 1000 Players in Your Market

SaaStr

How do you compete in a tough marketplace with thousands of other competitors?

The Five-Finger Approach to Onboarding

As a group who provides the software tools necessary to manage the contracts to cash process, Aysling onboards users and projects daily, and has learned some important tips if you want to be successful when onboarding new clients and/or projects.

Post-Traction, You Need to Spend 20% of Your Time Recruiting

SaaStr

Love him or hate him, Nick Saban is the most successful college football coach of the current generation. Winner of 3 out of 4 straight national championships. And how often is he recruiting? Every. Single. Day.

25% of You in SF Plan to Go Back to The Office Soon, Apparently

SaaStr

So we did a quick informal Twitter poll with 830+ votes, and 25% of you said you’re going back to the office now that San Francisco is allowing non-essential employees to return. If in SF, will you go back to the office now? — Jason BeKind Lemkin (@jasonlk) October 22, 2020.

Don’t Let Them (Your Best Employees) Go

SaaStr

A bit of Mary Poppins, when her work is done the wind will shift and she'll be off to the next place that needs her ??. Appreciate the moments you have with folks; especially if they or the combination of them together are truly special. It's never forever. link].

What’s Your Moat?

SaaStr

A few years back, we did an extra “Day 0” AMA session at SaaStr Annual with Christoph Janz of Point 9 Capital and several hundred founders came. One asked what were top moats are in SaaS. At the time, I didn’t have a great answer.

Digital Trends Report 2020

As part of our goal to continue helping our community during these times, we wanted to share with you this critical data on the state of digital products across industries and provide context on how businesses are responding to the changing winds.

The 7 Best Pieces of Business Advice I Was Ever Given

SaaStr

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.

Yes, Your VP of Sales Also Has to Be a Great Salesperson Herself

SaaStr

A mistake many founders make is hiring a VP of Sales who has many strengths — but not at sales per se. A VP of Sales who is smart, polished, and worked at the right place, in a management-level position. That can talk about quota attainment and sales operations and scaling and number.

Sales 285

5 Leadership Lessons Everyone Needs Right Now From GitHub COO Erica Brescia

SaaStr

One of our top sessions from our recent Annual at Home event was from GitHub’s COO, Erica Brescia. For those unfamiliar with her background, Brescia started off as the founder and COO of Bitnami, a 75 person startup.

2021 Planning and Global Economic Collapse

SaaStr

OK so this I think the first negative or at least “bummer” post I think I’ve ever written on SaaStr in 8 years. We’ve been through ups-and-downs in SaaS since 2012 (the start of SaaStr), flash crashes, multiple contractions, as well as the crazy bull run of 2020.

5 Things a Data Scientist Can Do to Stay Current

DataRobot together with Snowflake – a leading cloud data platform provider — is helping data scientists stay current with the latest technology and data science best practices so that they can excel in an increasingly AI-driven workplace. Five Things a Data Scientist Can Do to Stay Current offers data scientists guidance for thriving in AI-driven enterprises.

The Beauty and ROI in The Zero Voluntary Attrition Sales Team

SaaStr

There’s a common thinking that sales teams should be relatively high churn. That the bottom 15-20% of the sales team almost has to churn each year, because it’s survival of the fittest.

Sales 219

Now We Start to Enter the Sad Phase. Take Care of Your Team.

SaaStr

This has been an incredible roller-coaster for us in SaaS and Cloud since March 15, for some even more than others, but an incredible amount of change for all of us.

Cloud 285

Don’t Leave the Bay Area Just Yet

SaaStr

So we are how many months into this? I’m not even sure anymore. And the fires in California now are almost just too much. And of the CEOs I’ve invested in who aren’t originally in the Bay Area, I’d say 50% have, for now, moved somewhere else. Sweden. San Diego. France.

Cloud 265

Public SaaS Companies Are Now Worth $1 Trillion

SaaStr

Microsoft, Google, Apple and Amazon have made the headlines for a while for crossing $1 trillion in market cap each. That’s crazy growth — almost all fueled by the crazy growth of the Cloud. No SaaS company is yet worth $1 trillion, through perhaps that is coming.

SMB 285

Testing at Every Stage of Development

Up to 80% of new products fail. The reality is harsh and the reasons why are endless. Perhaps the new product couldn’t oust a customer favorite. Maybe it looked great but was too hard to use. Or, despite being a superior product, the go-to-market strategy failed. There’s always a risk when building a new product, but you can hedge your bets by understanding exactly what your customers' expectations truly are at every step of the development process.

SaaStr Podcast #388 with Okta CMO Ryan Carlson

SaaStr

388: Ryan Carlson is the CMO @ Okta, the leading independent provider of identity for the enterprise. Prior to their incredibly successful IPO in April of 2017, they raised funding from some of the best in the business including Sequoia, a16z, Greylock, Khosla and Floodgate to name a few.

The Top 5 Challenges to Starting a Successful SaaS Company

SaaStr

Q: What are the challenges that a SaaS business owner must overcome to be successful? My list: Finding a truly great co-founder. Yes, some can do it on their own. Eric Yuan, CEO of Zoom did. But he also did it before as SVP of Engineering at WebEx.

SaaS 159

VPs That Can’t Hire … They Aren’t Real VPs. At Least, Not Yet.

SaaStr

Perhaps the single most important thing you can ever do in SaaS, at least after $1m in ARR or so, is hire the best VPs you can. We’ve talked a lot over the years about how not to hire a wrong VP of Sales — 70%+ of the first VPs of Sales don’t make it even 10 months.

The Friends You’ll Lose. And The Ones You’ll Gain.

SaaStr

Being a CEO changes you. Not at first. The first year or two are a lot like “before”, just more intense. Now it’s all on your back, and your shoulders. But over time, your brain does get rewired. You get focused.

How Embedding AI-Powered Analytics Can Give You a Competitive Advantage

Embedding dashboards and reports aren’t enough. Futureproof your application by offering instant, actionable insights that will give you and your customers a competitive advantage.

Who Ya Gonna Promote? Don’t Wait Too Long.

SaaStr

It’s Q4 now … how are you doing on year-end stuff? Did you do all the performance reviews, I mean for real? I know you didn’t. At least, not for real. Did you get your routine salary adjustments done? I hope so. But I doubt you did this yet.

3 Mistakes Product Teams Tend to Make (And How to Avoid Them)

SaaStr

It’s no secret there’s a tremendous amount of work that goes into balancing your business and customers. Having a functioning product team will make that balance just a tad easier. .

Don’t Accidentally Bootstrap Yourself to Death

SaaStr

Almost Screwed: Bootstrapping From $0 to $20M ARR in 2 Years with ClickUp [link]. — Jason ?BeKind? BeKind? Lemkin ?? jasonlk) September 2, 2020.

A Framework For Your First SaaS Sales Comp Plan

SaaStr

I’m not ashamed to admit that when I set up our first SaaS sales comp plan, I had no idea what I was doing. In my first start-up, yes I sold to the enterprise. I sold $6m our first year (man, that sounds good looking back on it).

Why Distributed Tracing is Essential for Performance and Reliability

Speaker: Daniel "spoons" Spoonhower, CTO and Co-Founder at Lightstep

Many engineering organizations have now adopted microservices or other loosely coupled architectures, often alongside DevOps practices. Together these have enabled individual service teams to become more independent and, as a result, have boosted developer velocity. However, this increased velocity often comes at the cost of overall application performance or reliability. Worse, teams often don’t understand what’s affecting performance or reliability – or even who to ask to learn more. Distributed tracing was developed at organizations like Google and Twitter to address these problems and has also come a long way in the decade since then. By the end of this presentation, you’ll understand why distributed tracing is necessary and how it can bring performance and reliability back under control.