Zero to 100 - Part 1: Intro + First Section
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Zero to 100 is a learning program from David Skok. It is a detailed instruction manual for how to take your startup from zero to $100m, with a particular focus on the area of building a go-to-market machine. So many of today’s founders come from a product or technical background, and have never been involved with sales and marketing. Right after starting their venture, they are hit with the huge problem of how to build their go-to-market organization and processes. It breaks the journey down into 9 steps, and explains why it is crucial not to skip steps in this journey in the rush to get ahead. The major emphasis of the course focuses on building a repeatable, scalable and profitable growth machine. Once you have that in place, you are ready to hit the gas and scale like crazy. To see videos of the presentations, click here: https://www.forentrepreneurs.com/matrix-growth-academy-zero-to-100-videos/
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Zero to 100 - Part 1: Intro + First Section
- 2. Your Hosts DAVID SKOK Author of ForEntrepreneurs.com 5 times entrepreneur turned VC, GP at Matrix Partners STEPHANIE FRIEDMAN More than 15 years of sales, marketing and business development experience, 3 successful startups SVP of Sales & Customer Success at Xamarin (acquired by Microsoft)
- 3. More About David … Loves photography and videography…
- 4. More About David … Loves photography and videography…
- 5. More About Stephanie … 1 Horse 15 months of travel 150 sharks Travelblog: www.shetravels.org
- 7. Family Dog Rescue • Fast forward – Hire ahead of time – Overinvest in infrastructure • Right hand or second brain • Data, data, data • Understand your growth • Reporting: Data, Analytics, Insights • Create operational playbook
- 8. INTRODUCTION Why Zero to 100?
- 9. Conventional Wisdom Search for Product / Market Fit Scaling the Business Works for B2C
- 10. BUT B2B FOUNDERS USUALLY DISCOVER… Turn up the spend on sales & marketing, but no consistent results, and a lot of cash burn
- 11. There’s an important missing step that’s essential for B2B
- 12. The Missing Step Search for Product / Market Fit Scaling the Business Search for Repeatable, Scalable & Profitable Growth Model
- 13. Other Startup Education focuses here: Search for Product / Market Fit Scaling the Business Search for Repeatable & Scalable & Profitable Growth Model
- 14. ZERO TO 100 FOCUSES ON Predictable, Repeatable, Scalable, Profitable Growth Search for Product / Market Fit Scaling the Business Search for Repeatable, Scalable & Profitable Growth Model
- 15. Today’s founders Mostly first time founders Frequently from tech or product backgrounds Little/no experience in go-to-market
- 16. WHAT MAKES THIS HARDER… The process is broken down into sub-phases Search for Repeatable, Scalable, Profitable Growth Model Find repeatable Sales motion Prove non-founders can sell Make it Scalable Ensure Customer Success Make it Profitable
- 17. Advice that is right for one stage… is totally wrong for another stage
- 18. “You have to Work on Optimizing your Pricing” APPROPRIATE HERE COUNTER-PRODUCTIVE AT THESE STAGES Search for Product / Market Fit Find repeatable Sales motion Prove non-founders can sell Make it Scalable Ensure Customer Success Make it Profitable
- 19. Start to finish curriculum Major focus is on Building a Repeatable, Scalable, and Profitable Growth machine Highly stage specific Key lessons on how to take a B2B startup from 0 to $100m
- 20. With a strong emphasis on… BUYER-CENTRIC FUNNEL DESIGN
- 21. The Most Important Startup Questions When will we run out of cash? Are we on track to reach the milestones needed for a successful fundraise?
- 22. The Cash Out Graph 2017 Oct Nov Dec 2018 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ($2m) $0 $8m $6m $4m $2m 3 MONTHS Start Fundraising
- 23. STARTUPS ARE A RACE AGAINST TIME The way to win is extreme focus and total alignment across all departments
- 24. But… WHAT TO FOCUS ON?
- 25. Since CASH IS CRUCIAL TO SURVIVAL…
- 26. Let’s look at how to SUCCESSFULLY CLOSE YOUR NEXT ROUND
- 27. Startup Valuations TIME VALUATION
- 28. Startup Valuations – The Reality MILESTONES TIME VALUATION
- 29. Startup Value Creation Happens as Key Elements are De-risked “Do we know what problem we are solving?” “Will many people pay?” TIME VALUATION “Does it actually work?” “Will someone pay?” Credit Pete Kazanjy
- 30. Key Startup Inflection Points TIME VALUATION Can we scale profitably? Does our growth process scale? Can we scale without excessive churn? Can non-founders sell this? Will many people pay? Does it actually work? Will someone pay? Do we know what problem we are solving?
- 31. Not Only is Risk Reduced… but Focus and Business Motion also Change TIME VALUATION Inflection Points Credit Pete Kazanjy
- 32. THESE LEAD TO THE SUB-PHASES
- 33. The Sub-Phases Test hypothesis “What are we solving? How?” Prove the Value “Does it actually work?” Prove it can be sold “Will someone pay” Search for Product / Market Fit
- 34. The Sub-Phases Find repeatable Sales motion “Will many people pay?” Prove non-founders can sell “Can non-founders sell this?” Make it Scalable “Does this scale?” Ensure Customer Success “Can we scale without churn?” Make it Profitable “Can we scale profitably?” Search for Repeatable & Scalable & Profitable Growth Model
- 35. Scaling the Business The Sub-Phases Hit the Gas & Scale “Does this keep scaling when we hit the gas?” Scale the organization & it’s processes Expand internationally Add additional Product lines
- 36. THE SCALING PHASE: Startup Value Increases Rapidly Can we scale profitably? Does our growth process scale? Can we scale without excessive churn? Will many people pay? Does it actually work? Will someone pay? Do we know what problem we are solving? CAN WE KEEP SCALING WHEN WE REALLY HIT THE GAS? TIME VALUATION Can non- founders sell this?
- 37. WHY?
- 38. PROFITABLESCALABLEREPEATABLE THREE CAREFULLY CHOSEN WORDS Easy to say, but hard to achieve
- 39. Implies a CASH GENERATING MACHINE
- 40. …which GROWTH STAGE INVESTORS LOVE
- 41. Drives Performance of SaaS Stocks 650% 600% 550% 450% 400% 350% 300% 250% 200% 150% 100% 50% 0% 500% BVP Cloud Index NASDAQ Index S&P Index Dow Jones Index Public SaaS companies Jan 2011 Aug 2018
- 42. Trying to force progress by jumping ahead before completing the current phase #1 mistake
- 43. Common Variations • Building product before meeting enough buyers to validate the hypothesis • Hiring salespeople before founders have proven they can sell the product • Scaling sales before growth process is repeatable • Scaling sales before solving churn problem
- 44. BURN CASH & shorten the runway
- 45. What We’ve Learned NOT PREDICTABLE HOW LONG THIS WILL TAKE Search for Product / Market Fit Scaling the Business Search for Repeatable & Scalable & Profitable Growth Model
- 46. Conserve Cash until the Scaling Phase Search for Product / Market Fit Scaling the Business Search for Repeatable & Scalable & Profitable Growth Model CASH BURN
- 47. A Common Mistake… Search for Product / Market Fit Scaling the Business Search for Repeatable & Scalable & Profitable Growth Model Founders remain in burn avoidance mode Fail to invest for fast growth
- 48. Recognize Where You Are In The Lifecycle Search for Product/Market Fit Search for Repeatable & Scalable & Profitable Growth Model Test Hypothesis Prove the Value Prove it can be sold Find Repeatable Sales Motion Prove non- Founders can sell Make it Scalable Ensure Customer Success Make it Profitable Hit the Gas and Scale Scale the org & its processes Etc. 1 2 3 4 5 6 7 8 9 10 11 Scaling the Business
- 49. Avoid jumping ahead Search for Product/Market Fit Search for Repeatable & Scalable & Profitable Growth Model Test Hypothesis Prove the Value Prove it can be sold Find Repeatable Sales Motion Prove non- Founders can sell Make it Scalable Ensure Customer Success Make it Profitable Hit the Gas and Scale Scale the org & its processes Etc. 1 2 3 4 5 6 7 8 9 10 11 Scaling the Business
- 50. TODAY’S AGENDA
- 51. START END SPEAKERS Lunch 12:00 PM 1:00 PM Introduction to Zero to 100 1:00 PM 1:15 PM David + Stephanie Founder Led Selling 1:15 PM 1:45 PM Pete Kazanjy Building a Repeatable Scalable Growth Process 1:45 PM 2:05 PM David Skok Q&A 2:05 PM 2:20 PM Break – 15 minutes 2:20 PM 2:35 PM
- 52. START END SPEAKERS Funnel Design: Get inside your buyers head and drive higher conversions The Product is your Salesperson – Time to Wow! 2:35 PM 3:05 PM David Skok Building a Sales Organization 3:05 PM 3:20 PM Stephanie Forecasting and Pipeline Management 3:20 PM 3:35 PM Stephanie Sales Operations 3:35 PM 3:50 PM Stephanie Motivation and Sales Team Culture 3:50 PM 4:10 PM Stephanie Q&A 4:10 PM 4:20 PM Break – 15 minutes 4:20 PM 4:35 PM
- 53. START END SPEAKERS The SaaS Business Model and Metrics 4:35 PM 5:05 PM David Skok Experiences Turning Theory into Practice 5:20 PM 5:45 PM Mark Gally What is the Role of the CEO? 5:05 PM 5:20 PM David Skok Q&A 5:45 PM 6:00 PM Cocktails and Snacks
- 54. Questions Slido System: Go to Sli.do Enter code: G560