At HIVE we are extremely data driven and read CB insights newsletter every day, so we were really excited to see Anand's presentation at SaaStr this year.
Here are the key takeaways, but make sure you check out the entire deck below:
- Don't tolerate high performance assh*les - they may provide short term benefit but can be detrimental to your company's culture long term
- Don't fall in love with pedigree - there are plenty of smart people who aren't Google or Stanford Alums
- Dont half-*ss on-boarding - spend a lot of time with new hires to make sure people get acclimated. Make a good first impression.
- Don't believe you have to raise VC - Revenue is best cheapest way to grow
- Don't only celebrate your big wins - highlight big and small milestones and recognize the people behind them
- Don't think you know your end-market from day one - Sometimes, customers show up you didn't expect
- Don't sell to startups - They are the worst market for SaaS they die they cheap and churn quick
- Don't be the lowest priced product in the market
- Don't get cute with pricing
- Don't be afraid to ask if your product sucks.
- Don't be boring - Sell to people (and remember they are PEOPLE)
- If you are 6 people don't say you are world class or world leading when you're not
- You have to train Busdev and CS people! if you hire the right people they want to be good, but they need guidance on how to be good!
- Don't hire smart people and "figure it out later." People do better with clear goals and priorities, especially early on
- Don't half *ss reference checks - make sure you know who you are hiring.
- Don't meet with VCs until you are ready to raise
- Don't be afraid to hire expert advisors/don't be afraid to fire expert advisors
- Don't dominate conversations with customers - make sure the customer is talking ⅔ of the time