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Dear SaaStr: From 0 to $10m ARR, At What Point Do We Start Hiring and Whom? From 0 t o $ 10M ARR, the hiring roadmap is critical because every hire has a disproportionate impact on your trajectory. But one small rule: once you even have 2 big customers, hire someone full-time to make them successful.
In SaaS, it is recruiting your VPs and management team : SaaS products mostly don’t sell themselves. You can hack managing and finding 1–3 reps yourself, but after that, you really need a VP of Sales. Upsell and retention is an art, science and craft. 95% of the time, your super-smart hacker co-founder is not that person.
In SaaS, once you have even a few million in ARR, the #1 challenge is recruiting top-tier VPs and building a truly top-tier management team: SaaS products mostly don’t sell themselves. You can hack managing and finding 1–3 reps yourself, but after that, you really need a VP of Sales. Upsell and retention is an art, science and craft.
Co-founder and CEO of Plato, Quong Hoang, the #1 mentoring platform for engineering leaders , helped moderate a discussion between CTO of Change.org, Elaine Zhou, and Head of Engineering at Notion, Michael Manapat, on this subject. But for Notion’s Manapat, retention of engineers boils down to three main criteria: Company Success.
While the appearance matters, remember you are hiring the development firm primarily for its development skills, not its graphic design skills. Client Retention: Do they have repeat or long-term clients? cto , product , saas Quality of Work: The end product should not only look good but function as expected.
Hiring a reliable team is an all-encompassing issue where startups dive in head-first but fail to optimize it for success. . Hiring an expert produces 1000x better results than someone with interests elsewhere. . “A Hiring in a streamlined manner with a rigorous selection process initially builds momentum for long-term goals.
Ode to the $100,000,000 Exit Dear SaaStr: Should You Hire Someone That Seems Good … But Always Job Hops? SaaStr 636: Extreme Product Design: Building Things People Actually Use with Stripe CTO David Singleton 5. SaaStr CRO Confidential: Brex GM of Startups Lucas Fox on Customer Retention and Expansion 2. TAM is Great.
So, in 2024, there should be a more normalized customer base from a retention perspective as you transition past Q1 and those customers are transitioning with you. Today, triangulation is how people prioritize who they will reach out to — what’s happening on their list of accounts, if they’ve posted a job, if they’ve hired a new CTO, etc.
Co-founder and CTO Dharmesh Shah shared with us how they got there — and the top mistakes they made — just 3 quarters after their IPO. We have someone that probably 98 percent of you know virtually or socially in some sense, Dharmesh Shah, founder and CTO of HubSpot. You’ll find out tomorrow.
But as time went on, we shared lessons, what best practices were in customer success and revenue retention and all these things are, right. So I think my learning is just know the rules, know the KPIs, they’re all public, find public comps and copy them. And the best CTO I know in the world is the CEO.
You can watch the full session , and if you missed the podcast with the first half of the interview, you’ll find that here. If you would like to find out more about the show and the guests presented, you can follow us on Twitter here: Jason Lemkin. We might’ve touched on this one too on the hiring and the people.
Again, we felt that there was much greater value in being authentic than trying to be someone that we weren’t and try to find positives. I immediately left the office, went home, packed a bag, went the airport, booked flights, showed up there at mid night, met with the individual. It was the last day of the quarter as well.
They’re able to actually swipe a credit card, and what starts off similar to a freemium self-serve product can turn into a six-figure contract in just a few months. It might even be months later that a VP of Engineering or a CTO or CFO realizes that they’re built on a new platform. The contract size grows.
Adam Risman: What were some of the aha moments you experienced in those early days when you were trying to find a product/channel fit? And so we hired somebody who had a lot of experience and could recommend ways to build the team. You find a bunch of nuances in there that are very interesting. Here’s Andrew.
Before hiring, assess your current needs and hire as your company grows. The different roles in SaaS companies: Chief Executive Officer : As the highest-ranking executive, this person ensures the company runs smoothly and employees are happy and engaged.
So one qualitative is when the customers love the product and the metrics for measure the love is phenomenal engagement, great retention, let them expand dynamics into the customers, growth led by expansion MRR more than the new business MRR, and ideally negative share. That’s also retention and upsell.
To combat this and be more agile, SaaS management is morphing and restructuring functional management and multiplying the number of new C-Suite titles like Chief Customer Officer, Chief Revenue Officer, and Chief Product Officer, not to mention Chief Performance Officer and Chief Security Officer.
Hiring expensive consultants or setting up innovation labs doesn’t fly anymore. To increase your retention and renewal rates. Traditionally, the product function fell under Technology. More than 50% of Fortune 100 have a Chief Product Officer (CPO). The key culprit is the lack of clear vision and strategy.
When Co-founder and CTO of Chargify , Michael Klett isn’t brewing his own beer, he’s crafting billing experiences. This can range from help with pricing, retention, and churn, as well as providing subscription financial metrics so a customer can see everything that is going on from acquisition all the way through to retention.
Time and time again SaaS companies are promising customers that they will save hundreds of thousands of dollars, but their pricing strategies are only capturing a tiny fraction of that savings. Find out here. Learn how raising prices can actually result in more profitable customers and higher retention rates.
Will Larson , CTO of Calm. Des Traynor , Co-founder and CTO of Intercom. We chat with Maggie about all things sales – from laying down a solid foundation to hiring the right people and, finally, scaling the team into hyper-growth. Liam Geraghty: Will Larson is the CTO of Calm , the mindfulness app.
Retention & Engagement. A deep dive on how to understand, measure, and improve retention through activation, engagement, and resurrection. Cross-Functional Growth: Growth Series , Advanced Growth Strategy , Retention & Engagement , Monetization & Pricing , Experimentation & Testing. Retention & Engagement.
Accurately forecast revenue retention and expansion. In HubSpot’s case, we eventually hired a world-class data science team, but our scoring only improved by a few points,” notes Redbord. You’ll need someone familiar with your data—perhaps a CTO or someone responsible for business operations. Do you have a retention issue?
Announcing new features, increasing customer satisfaction and retention are among the top functions of an online community. . #1 Of course, our team is involved to an extent, and we have an external part-time moderator for support. SaaS Community Marketing: 11 stories from software companies.
Having invested in 9 B2B marketplaces and gathered data from 20+ different investors, here are our findings on what it takes to raise money in 2021 for B2B marketplaces. A technical co-founder or CTO is always a great-to-have at this stage and becomes a must-have as the business scales beyond seed. Market Characteristics ??
The company had for a few years prior followed a growth-first path, hiring aggressively and prioritizing projects designed to make an immediate impact on their growth rate. After the Series A, Buffer fell into a similar trap to Wistia - they hired too quickly, specifically to accelerate product development. The company even took $2.5M
How many CSMs should you hire? We also have an episode of the ProfitWell Report that looks at the data from almost 2,000 companies to uncover how customer success impacts retention and churn, linked here. We value product marketing to the highest, so we’re always keeping an eye on the PMA’s finds. What is their ROI?
Traditionally, it’s the chiefofficer of finance or operations. But promotional paths are a-changing, according to a time-series by Spencer Stuart summarized in Harvard Business Review’s “ Finding the Right CEO.” Find the hardest problems to solve and you will succeed.
Because the contracts are typically much higher in these sales agreements, B2B subscriptions often require a much longer sales process before your customer will consider making a purchase. When you’re just starting out, this information can be difficult to find. Contract length. B2C contract length. B2B contract length.
Obviously if you target enterprise customers, you usually have a very large ACV (Annual Contract Value) and the product usually is complex. We talk about using the product complexity, your target customer size, your contract value, and whether there's individual use case–those four things--to help you decide if PLG is a fit.
SaaS Community Marketing: 13 stories from software companies Announcing new features, increasing customer satisfaction and retention are among the top functions of an online community. #1 Of course, our team is involved to an extent, and we have an external part-time moderator for support.
Serve as senior-level advocate for all customer issues and provide ongoing management to ensure timely resolution. Direct the hiring, orientation, and training plan for Relationship Management team members as applicable. Nurture key relationships internally – product team, BD team, COO, CTO, etc.
Public valuations are still at a fraction of their 2021 peaks, but seed rounds are more expensive than ever. Investors should immediately engage with the CTO to assess their technical capabilities and potential, as great CTOs can demonstrate their exceptional skills quickly. Is it sustainable?
It’s challenging to find super high-quality folks unless you’re in B2C, where customer support is sales. You can find some pirates and romantics, and you might have to use AI. At the CIO’s office, there’s a certain amount of budget for experimentation, but not that much. Give everyone x amount of money to go find the best one.
Why do some experts consider QBRs to be a waste of time? These are the primal questions you will find answers to in this article. These annual executive business meetings are a wonderful time to discuss contracts. Whatever suits the customer would be the right time. It need not always be the chief customer officer.
One of the top SaaS influencers is Dharmesh Shah , co-founder, and CTO of HubSpot. Steli Efti is the Chief Executive Officer and co-founder of Close. His insights on SaaS sales, hiring sales reps, and finding customers are a gold mine for anyone in the SaaS space. Dharmesh Shah. Steli Efti. Bottom Line.
And then it was just a matter of, okay, make sure that it works, make sure that it scales, then very important not to forget, make sure that people buy it, that they know how to find you, you know. That means lots and lots of hiring and I don’t want to say firing, we did fire anyone, but people get reshuffled, you know? We did not.
365: The Office of the Future, How Everything’s Changed and What 2021 Will be Like with Justin Bedecarre, CEO @ HelloOffice and Jen Nguyen, Founding Partner @ TEAMWERC. Centralized HQs with all the perks and amenities “under one roof” have traditionally been used as recruiting tools to attract and retain top talent. Aaron Levie.
At SaaStr Annual we had a great session with HubSpot Founder & CTO, Dharmesh Shah, and their Chief People Officer, Katie Burke, on building happier employees. So, I’m ChiefTechnologyOfficer, and years ago I was volunteered by my co-founder to work on culture.
Co-founders Dharmesh Shah (CTO) and Brian Halligan (Chairperson) shared at SaaStr Annual the unfiltered truth on building an SMB powerhouse, pivoting to product-led growth, and why the “M” segment is SaaS gold. The company had to retrench and restart their global efforts multiple times. Focus obsessively on churn.
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