Most software founders, particularly in B2B, need to get radically better at sales. @Steli , who is the best person for explaining the scrappy stages in the beginning and then building out a team with scripts and processes, wrote a guide to:
Unlike most sales reps, founders can credibly promise tight feedback loops for product.
"If you go with BigCo, you can call them at 3 AM. Someone will listen to you politely, explain they have no solution, and open a ticket. If you call at 3 PM, same answer."
Many, many technical founders of my acquaintance want to offload this to someone ASAP. I've never seen this work: you need to have a deep understanding of your market and customers to arm that first non-founder salesperson. It is gained by doing.
These folks are capable of writing their own ticket and then, by construction, getting folks to buy it.
Sophisticated, mature processes for marketing to pass leads over to sales for qualification.
Steli is so effective at sales he has closed deals he wasn't even a party to. My favorite anecdote about this:
"Hey apropos of nothing: do you know Steli?"
"Oh yeah he's great."
"He is. Steli wouldn't let me leave lunch...
"He wouldn't, would he."
"He wouldn't."
"OK then; we will."
"Great! Email me and we'll figure out logistics."
More from Patrick McKenzie
So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
More from Tech
After getting good feedback on yesterday's thread on #routemobile I think it is logical to do a bit in-depth technical study. Place #twilio at center, keep #routemobile & #tanla at the periphery & see who is each placed.
This thread is inspired by one of the articles I read on the-ken about #postman API & how they are transforming & expediting software product delivery & consumption, leading to enhanced developer productivity.
We all know that #Twilio offers host of APIs that can be readily used for faster integration by anyone who wants to have communication capabilities. Before we move ahead, let's get a few things cleared out.
Can anyone build the programming capability to process payments or communication capabilities? Yes, but will they, the answer is NO. Companies prefer to consume APIs offered by likes of #Stripe #twilio #Shopify #razorpay etc.
This offers two benefits - faster time to market, of course that means no need to re-invent the wheel + not worrying of compliance around payment process or communication regulations. This makes entire ecosystem extremely agile
So I have been studying this entire communication layer as its relevance is ever growing with more devices coming online, staying connected, and relying on real-time communication. Not that this domain under penetrated, but there is a change underway.
— Ameya (@Finstor85) February 10, 2021
This thread is inspired by one of the articles I read on the-ken about #postman API & how they are transforming & expediting software product delivery & consumption, leading to enhanced developer productivity.
We all know that #Twilio offers host of APIs that can be readily used for faster integration by anyone who wants to have communication capabilities. Before we move ahead, let's get a few things cleared out.
Can anyone build the programming capability to process payments or communication capabilities? Yes, but will they, the answer is NO. Companies prefer to consume APIs offered by likes of #Stripe #twilio #Shopify #razorpay etc.
This offers two benefits - faster time to market, of course that means no need to re-invent the wheel + not worrying of compliance around payment process or communication regulations. This makes entire ecosystem extremely agile