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Patrick Campbell (Founder/CEO, ProfitWell) - Not Being Terrible When Things Are Terrible

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Patrick Campbell (Founder/CEO, ProfitWell) - Not Being Terrible When Things Are Terrible

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Learn how to get your monetization right for hyper-growth. Through his history working on the pricing for companies like Atlassian, Autodesk, New Relic, and thousands more, Patrick has seen inside more SaaS and subscription companies from a financial perspective than anyone else on the planet. Together you’ll work through the pricing framework he’s used and taught to customers that has created, and continues to create, billions of dollars in revenue for these businesses. The ultimate goal: Learn and build a framework for getting your pricing strategy right and primed for growth.

You’ll learn:

What mistakes you’re likely making and how to exploit them
How to quantify your buyer personas
How to set up a testing framework to collect the right price elasticity and feature data from your customers to guide your pricing strategy
How to utilize your buyer personas and customer data for an optimal pricing strategy
How to implement a value-based pricing process into your business
How to compound your SaaS revenue growth through a value metric

Learn how to get your monetization right for hyper-growth. Through his history working on the pricing for companies like Atlassian, Autodesk, New Relic, and thousands more, Patrick has seen inside more SaaS and subscription companies from a financial perspective than anyone else on the planet. Together you’ll work through the pricing framework he’s used and taught to customers that has created, and continues to create, billions of dollars in revenue for these businesses. The ultimate goal: Learn and build a framework for getting your pricing strategy right and primed for growth.

You’ll learn:

What mistakes you’re likely making and how to exploit them
How to quantify your buyer personas
How to set up a testing framework to collect the right price elasticity and feature data from your customers to guide your pricing strategy
How to utilize your buyer personas and customer data for an optimal pricing strategy
How to implement a value-based pricing process into your business
How to compound your SaaS revenue growth through a value metric

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Patrick Campbell (Founder/CEO, ProfitWell) - Not Being Terrible When Things Are Terrible

  1. 1. Brought to you by Not being terrible when things are terrible. SEPTEMBER 2019
  2. 2. 3 Stories Today
  3. 3. Couple of Tactical Detours
  4. 4. Plenty of Terrible Jokes
  5. 5. Brought to you by Some background.
  6. 6. Brought to you by PROFITWELL Free financial metrics for subscription businesses.
  7. 7. Churn tribution Financial Unit Price Survey Willingness to In-App Usage Drastically reduce churnRETAINTM Audit proof revenue recognition RECOGNIZED Proprietary pricing software for monetization PRICE INTELLIGENTLY
  8. 8. PROFITWELL HISTORY PW Revenue Under Management - $9BN ARR ARRUNDERMANAGEMENT(INBILLIONS) $0 $2 $4 $6 $8 $10 2013 2014 2015 2016 2017 2018 2019 PROFITWELL HISTORY Brought to you by
  9. 9. PROFITWELL HISTORY Past Three Years - $0 to $10M PROFITWELLMRR(INTHOUSANDS) $0 $250 $500 $750 $1,000 2016-04 2016-09 2017-02 2017-07 2017-12 2018-05 2018-10 2019-03 PROFITWELL HISTORY Brought to you by
  10. 10. 85 Homies
  11. 11. 78% Gross Margin
  12. 12. $0 in Funding
  13. 13. PROFITWELL HISTORY I made no money and still don’t really PATRICK’SSALARY(INTHOUSANDS) $0 $25 $50 $75 $100 $125 $150 2012 2013 2014 2015 2016 2017 2018 Salary Savings PROFITWELL HISTORY Brought to you by
  14. 14. Brought to you by Leverage.
  15. 15. Who here has reacted too quickly to a problem? Brought to you by
  16. 16. Getting the most out of your time, money, and effort. Brought to you by
  17. 17. Few of us have a solid framework for evaluating leverage. Brought to you by
  18. 18. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens
  19. 19. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important
  20. 20. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important The reverberation of “fuuuuuckkkk”
  21. 21. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important Guess & Check 1 The reverberation of “fuuuuuckkkk”
  22. 22. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important Guess & Check 1 Guess & Check 2 The reverberation of “fuuuuuckkkk”
  23. 23. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important Guess & Check 1 Guess & Check 2 The reverberation of “fuuuuuckkkk” We’re going to fail
  24. 24. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important Guess & Check 1 Guess & Check 2 Guess & Check 3 The reverberation of “fuuuuuckkkk” We’re going to fail
  25. 25. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important Guess & Check 1 Guess & Check 2 Guess & Check 3 The reverberation of “fuuuuuckkkk” We’re going to fail We solved it!
  26. 26. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important Guess & Check 1 Guess & Check 2 Guess & Check 3 The reverberation of “fuuuuuckkkk” We’re going to fail We solved it!
  27. 27. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens
  28. 28. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important?
  29. 29. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important? The reverberation of “fuuuuuckkkk” No = Do nothing.
  30. 30. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important? The reverberation of “fuuuuuckkkk” No = Do nothing. Think. Framework. Decide. Act.
  31. 31. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important? The reverberation of “fuuuuuckkkk” No = Do nothing. Think. Framework. Decide. Act.
  32. 32. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important? The reverberation of “fuuuuuckkkk” No = Do nothing. Think. Framework. Decide. Act.
  33. 33. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important? The reverberation of “fuuuuuckkkk” No = Do nothing. Monitor & Adjust Think. Framework. Decide. Act.
  34. 34. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important? The reverberation of “fuuuuuckkkk” No = Do nothing. Monitor & Adjust Think. Framework. Decide. Act.
  35. 35. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important? The reverberation of “fuuuuuckkkk” No = Do nothing. Monitor & Adjust Think. Framework. Decide. Act.
  36. 36. THE BREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important? The reverberation of “fuuuuuckkkk” No = Do nothing. Monitor & Adjust Think. Framework. Decide. Act.
  37. 37. We don’t think and framework as much as we should. Brought to you by
  38. 38. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Problem
  39. 39. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Cause 1 Problem Cause 2 Cause 3 Cause 4 Cause 5
  40. 40. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Cause 1 Problem Cause 2 Cause 3 Cause 4 Cause 5 Solution 1 Solution 2 Solution 3 Solution 4 Solution 5
  41. 41. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Cause 1 Problem Cause 2 Cause 3, 4, 5 Solution 1 Solution 2 Solution 3-5
  42. 42. Here’s an example from ProfitWell. Brought to you by
  43. 43. Brought to you by
  44. 44. Brought to you by
  45. 45. PROFITWELL HISTORY PW Revenue Under Management - $9BN ARR ARRUNDERMANAGEMENT(INBILLIONS) $0 $2 $4 $6 $8 $10 2013 2014 2015 2016 2017 2018 2019 PROFITWELL HISTORY Brought to you by
  46. 46. PROFITWELL HISTORY PW Revenue Under Management - $9BN ARR ARRUNDERMANAGEMENT(INBILLIONS) $0 $2 $4 $6 $8 $10 2013 2014 2015 2016 2017 2018 2019 PROFITWELL HISTORY Brought to you by
  47. 47. PROFITWELL HISTORY PW Revenue Under Management - $9BN ARR ARRUNDERMANAGEMENT(INBILLIONS) $0 $2 $4 $6 $8 $10 2013 2014 2015 2016 2017 2018 2019 PROFITWELL HISTORY Brought to you by 34+ Companies
  48. 48. PROFITWELL HISTORY PW Revenue Under Management - $9BN ARR ARRUNDERMANAGEMENT(INBILLIONS) $0 $2 $4 $6 $8 $10 2013 2014 2015 2016 2017 2018 2019 PROFITWELL HISTORY Brought to you by 34+ Companies
  49. 49. PROFITWELL HISTORY PW Revenue Under Management - $9BN ARR ARRUNDERMANAGEMENT(INBILLIONS) $0 $2 $4 $6 $8 $10 2013 2014 2015 2016 2017 2018 2019 PROFITWELL HISTORY Brought to you by 34+ Companies
  50. 50. PROFITWELL HISTORY PW Revenue Under Management - $9BN ARR ARRUNDERMANAGEMENT(INBILLIONS) $0 $2 $4 $6 $8 $10 2013 2014 2015 2016 2017 2018 2019 PROFITWELL HISTORY Brought to you by 34+ Companies
  51. 51. PROFITWELL HISTORY PW Revenue Under Management - $9BN ARR ARRUNDERMANAGEMENT(INBILLIONS) $0 $2 $4 $6 $8 $10 2013 2014 2015 2016 2017 2018 2019 PROFITWELL HISTORY Brought to you by 34+ Companies
  52. 52. And don’t forget…. Brought to you by
  53. 53. PROFITWELL HISTORY I made no money and still don’t really PATRICK’SSALARY(INTHOUSANDS) $0 $25 $50 $75 $100 $125 $150 2012 2013 2014 2015 2016 2017 2018 Salary Savings PROFITWELL HISTORY Brought to you by
  54. 54. “The reverberation of fuuuuuuck” Brought to you by
  55. 55. Let’s analyze this… Brought to you by
  56. 56. NPS of analytics market? Brought to you by
  57. 57. NPS of -15
  58. 58. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Problem Distribution and monetization of ProfitWell has become difficult due to competitive pressures and limited resources
  59. 59. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Lack of WTP Problem Distribution and monetization of ProfitWell has become difficult due to competitive pressures and limited resources
  60. 60. EATING OUR OWN DOG FOOD Buyer WTP for a SaaS Metrics Products Customers weren’t willing to pay as much as we thought for a SaaS Metrics solution. This was especially bad when looking at the multiple between the lower end customers and the upper end customers. WTPFORASAASMETRICSSOLUTION SOURCE: 2017 CONSUMER WILLINGESS TO PAY $0 $75 $150 $225 $300 $0 - $50k $51k - $100k $101k - $250k $251k - $500k $501k+ Upper Lower Median COMPANY’S MRR N = ~300 companies
  61. 61. data analytics insights outcomes THE PROFITWELL CONTINUUM
  62. 62. data analytics insights outcomes THE PROFITWELL CONTINUUM
  63. 63. data analytics insights outcomes THE PROFITWELL CONTINUUM WTP
  64. 64. data analytics insights outcomes THE PROFITWELL CONTINUUM WTP NPS
  65. 65. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Lack of WTP Problem Massive accuracy issues Distribution and monetization of ProfitWell has become difficult due to competitive pressures and limited resources
  66. 66. When utilizing Max Diff, you get both rank order and magnitude, which allows you to save yourself from costly false positives on preferences. WHAT TYPE OF FEEDBACK WILL YOU GET WITH MAX DIFF? -0.4 -0.3 -0.2 -0.1 0 0.1 0.2 0.3 0.4 0-50K MRR 51-100 101-250 251-500 501+ ProfitWell has great uptime, reliability, and speed ProfitWell gives me actionable insights ProfitWell is free ProfitWell is the most accurate solution out there MORE IMPORTANTLESS IMPORTANT — RELATIVEPREFERENCEDATA
  67. 67. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Lack of WTP Problem Massive accuracy issues No name recognition Distribution and monetization of ProfitWell has become difficult due to competitive pressures and limited resources
  68. 68. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Lack of WTP Problem Massive accuracy issues No name recognition Not a lot of money Distribution and monetization of ProfitWell has become difficult due to competitive pressures and limited resources
  69. 69. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Lack of WTP Problem Massive accuracy issues No name recognition Not a lot of money Product is behind Distribution and monetization of ProfitWell has become difficult due to competitive pressures and limited resources
  70. 70. PROBLEM > CAUSE > SOLUTION — YOUREXPERIMENTALDESIGN Lack of WTP Problem Massive accuracy issues No name recognition Not a lot of money Product is behind - Free - Accuracy is #1 - CommitDistribution and monetization of ProfitWell has become difficult due to competitive pressures and limited resources
  71. 71. data analytics insights outcomes THE PROFITWELL CONTINUUM
  72. 72. data analytics insights outcomes THE PROFITWELL CONTINUUM
  73. 73. Tactical Detour. Brought to you by
  74. 74. Let’s talk about freemium. Brought to you by
  75. 75. FREEMIUM AND RETENTION Retention is noticeably better for freemium products Net dollar retention is noticeably better for companies utilizing the freemium acquisition strategy, driven in part by a forcing function for monetization, as well as a better experience. NETDOLLARRETENTION SOURCE: 2017 RETENTION STUDY 70% 80% 90% 100% 110% 5 YEARS AGO 4 YEARS AGO 3 YEARS AGO 2 YEARS AGO 1 YEAR AGO Today NO FREE FREE TRIAL FREEMIUM WHEN MEASUREMENT WAS TAKEN N 143 N = 143 companies Brought to you by
  76. 76. FREEMIUM AND NPS NPS is greater for companies with freemium products NPS scores for the paid product are typically better for those companies who have a freemium model of some sort, indicating that freemium’s power is in letting a lead nurture. AVERAGENPSSCORE YEARS AGO SOURCE: 2017 SAAS STUDY 0 5 10 15 20 25 30 5 YEARS AGO 1 YEAR AGO 24.33 28.51 14.231 25.138 12.87 21.67 NO FREE FREE TRIAL FREEMIUM N = 347 software companies N 347 Brought to you by
  77. 77. Give people time to nurture through free. Brought to you by
  78. 78. profitwell.com/freemium
  79. 79. Brought to you by Truth.
  80. 80. Who here has overreacted emotionally to someone on their team? Brought to you by
  81. 81. Let’s be guinea pigs for a moment. Brought to you by
  82. 82. Founders who sleep less than 5 hours a night grow slower than those who sleep 7-8 hours. Brought to you by
  83. 83. Companies with institutional funding have higher churn rates than those who are bootstrapped. Brought to you by
  84. 84. Founders with hobbies and who score high on work/life balance have slower growing companies. Brought to you by
  85. 85. Remote companies have considerably worse growth and worse retention than co-located ones. Brought to you by
  86. 86. Backfire effect. Brought to you by
  87. 87. When something supports our view, we don’t question it. If something attacks our view, we feel attacked. Brought to you by
  88. 88. So how do you pursue truth? Brought to you by
  89. 89. Most charitable interpretation principle Brought to you by
  90. 90. Assume the other person is competent with good intentions, and assume they may be right. Brought to you by
  91. 91. Be disagreeable; Think Critically Brought to you by
  92. 92. RED TEAMING — YOUREXPERIMENTALDESIGN Scenario 1 Decision/Direction Scenario 2 Scenario 3 Scenario 4 Scenario 5 - Consolidate - Regroup - Act
  93. 93. Here’s an example from ProfitWell. Brought to you by
  94. 94. ACTING AND INVESTIGATING — YOUREXPERIMENTALDESIGN Problem 1. Reviews look fake 2. Twitter and public Issues 3. Relationships with competitors 4. Perception to our users/ customers
  95. 95. ACTING AND INVESTIGATING — YOUREXPERIMENTALDESIGN Internal? Problem 1. Reviews look fake 2. Twitter and public Issues 3. Relationships with competitors 4. Perception to our users/ customers
  96. 96. ACTING AND INVESTIGATING — YOUREXPERIMENTALDESIGN Internal? Problem External? 1. Reviews look fake 2. Twitter and public Issues 3. Relationships with competitors 4. Perception to our users/ customers
  97. 97. ACTING AND INVESTIGATING — YOUREXPERIMENTALDESIGN Internal? Problem External? Affiliate? 1. Reviews look fake 2. Twitter and public Issues 3. Relationships with competitors 4. Perception to our users/ customers
  98. 98. ACTING AND INVESTIGATING — YOUREXPERIMENTALDESIGN Internal? Problem External? Affiliate? - Contacted G2/Capterra for audit - Made it clear to team this is/would be unacceptable - Did not tweet except to mention we were investigating - Handled anyone who asked about it 1:1 and followed up with them as more information came into play - Wrote Josh and Nick very long emails 1. Reviews look fake 2. Twitter and public Issues 3. Relationships with competitors 4. Perception to our users/ customers
  99. 99. Tactical Detour. Brought to you by
  100. 100. “Don’t focus on your competitors” Brought to you by
  101. 101. CONSUMERS ARE GETTING HAMMERED Number of Competitors in First Year in Business Companies started more than a year ago had far fewer competitors in their space than companies started today. AVERAGE#OFCOMPETITORSINTHEIR1STYEAR AGE OF COMPANY 2016 SOFTWARE MARKET SURVEY 0 5 10 5 YEARS OLD 3 YEARS OLD 1 YEAR OLD 9.7 4.8 2.6 N = 1432 software founders and executives Brought to you by your friends at
  102. 102. CAC COMPETITION BENCHMARKS CAC Lower Amongst Competition Focused Companies Customer acquisition cost (CAC) has increased significantly over the years due to market saturation of marketing vying for consumer attention, but CAC amongst competitor focused companies is lower. BLENDEDCACRELATIVETOFOURYEARSAGO SOURCE: 2018 PROFITWELL CAC STUDY 0% 15% 30% 45% 60% 5 YEARS AGO 4 YEARS AGO 3 YEARS AGO 2 YEARS AGO 1 YEARS AGO Today Overall Competitor Marketing Strategy WHEN MEASUREMENT WAS TAKEN N 507 N = 507 companies Brought to you by
  103. 103. PRODUCT COMPETITION BENCHMARKS NPS is Lower for Competitor Focused Product Teams NPS is falling overall, but companies who are focused on competition from a product perspective are seeing lower NPS scores overall indicating you shouldn’t focused on competition to build product. AVERAGENPSSCORE YEARS AGO SOURCE: 2018 COMPETITOR STUDY 0 7 13 20 27 33 40 5 YEARS AGO 3 YEARS AGO 1 YEAR AGO 5.22 12.08 24.11 10.2 19.5 33.8 Overall Competitive Product Strategy N = 231 companies N 231 Brought to you by
  104. 104. Brought to you by Fear.
  105. 105. Who here has felt like their company isn’t going to work out? Brought to you by
  106. 106. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important Guess & Check 1 Guess & Check 2 Guess & Check 3 The reverberation of “fuuuuuckkkk” We’re going to fail We solved it!
  107. 107. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN Bad Thing Happens This is important Guess & Check 1 Guess & Check 2 Guess & Check 3 The reverberation of “fuuuuuckkkk” We’re going to fail We solved it!
  108. 108. THE FREAKOUT CYCLE OF EXECUTIVE EMOTION — YOUREXPERIMENTALDESIGN The reverberation of “fuuuuuckkkk” Good Places Bad Places Lukewarm Places Acts of God/Universe
  109. 109. PROFITWELL HISTORY Past Three Years - $0 to $10M PROFITWELLMRR(INTHOUSANDS) $0 $250 $500 $750 $1,000 2016-04 2016-09 2017-02 2017-07 2017-12 2018-05 2018-10 2019-03 PROFITWELL HISTORY Brought to you by
  110. 110. PROFITWELL HISTORY Long bit of $0 PROFITWELLMRR(INTHOUSANDS) $0 $200 $400 $600 $800 $1,000 2012-06 2013-04 2014-02 2014-12 2015-10 2016-08 2017-06 2018-04 2019-02 PROFITWELL HISTORY Brought to you by
  111. 111. PROFITWELL HISTORY Long bit of $0 PROFITWELLMRR(INTHOUSANDS) $0 $200 $400 $600 $800 $1,000 2012-06 2013-04 2014-02 2014-12 2015-10 2016-08 2017-06 2018-04 2019-02 PROFITWELL HISTORY Brought to you by First time Founder woes
  112. 112. I could not have founded ProfitWell in a worse way.
  113. 113. Terrible.
  114. 114. • Part-time co-founders HERE’S HOW PATRICK DID EVERYTHING WRONG — FOUNDINGISTOUGH Brought to you by your friends at
  115. 115. It gets worse.
  116. 116. • Part-time co-founders • Part-time co-founders were fully vested. I was not. HERE’S HOW PATRICK DID EVERYTHING WRONG — FOUNDINGISTOUGH Brought to you by your friends at
  117. 117. • Part-time co-founders • Part-time co-founders were fully vested. I was not. • Combined both part-time co-founders had more equity and could theoretically “vote” me out HERE’S HOW PATRICK DID EVERYTHING WRONG — FOUNDINGISTOUGH Brought to you by your friends at
  118. 118. • Part-time co-founders • Part-time co-founders were fully vested. I was not. • Combined both part-time co-founders had more equity and could theoretically “vote” me out • Lawyer was the sister-in-law of one of the part-timers HERE’S HOW PATRICK DID EVERYTHING WRONG — FOUNDINGISTOUGH Brought to you by your friends at
  119. 119. • Part-time co-founders • Part-time co-founders were fully vested. I was not. • Combined both part-time co-founders had more equity and could theoretically “vote” me out • Lawyer was the sister-in-law of one of the part-timers • Very little alignment before founding the company HERE’S HOW PATRICK DID EVERYTHING WRONG — FOUNDINGISTOUGH Brought to you by your friends at
  120. 120. PROFITWELL HISTORY Long bit of $0 PROFITWELLMRR(INTHOUSANDS) $0 $200 $400 $600 $800 $1,000 2012-06 2013-04 2014-02 2014-12 2015-10 2016-08 2017-06 2018-04 2019-02 PROFITWELL HISTORY Brought to you by Break up First time Founder woes
  121. 121. PROFITWELL HISTORY Long bit of $0 PROFITWELLMRR(INTHOUSANDS) $0 $200 $400 $600 $800 $1,000 2012-06 2013-04 2014-02 2014-12 2015-10 2016-08 2017-06 2018-04 2019-02 PROFITWELL HISTORY Brought to you by Break up First time Founder woes The Reddest of Oceans
  122. 122. PROFITWELL HISTORY Long bit of $0 PROFITWELLMRR(INTHOUSANDS) $0 $200 $400 $600 $800 $1,000 2012-06 2013-04 2014-02 2014-12 2015-10 2016-08 2017-06 2018-04 2019-02 PROFITWELL HISTORY Brought to you by Break up First time Founder woes The Reddest of Oceans
  123. 123. We all have our own Lifetime movie.
  124. 124. “You really should meditate.”
  125. 125. ”You gotta workout and eat well.”
  126. 126. “Do you journal?”
  127. 127. Treat the symptoms; mildly preventative.
  128. 128. Why?
  129. 129. What do you want to achieve?
  130. 130. Know thyself.
  131. 131. Want Partners Team Family/Friends
  132. 132. Want Partners Team Family/Friends
  133. 133. Want Partners Team Family/Friends
  134. 134. Want Partners Team Family/Friends
  135. 135. Introspection > Consume all advice > Be Unapologetic
  136. 136. Introspection > Consume all advice > Be Unapologetic
  137. 137. Introspection > Consume all advice > Be Unapologetic
  138. 138. Tactical Detour. Brought to you by
  139. 139. Write to and speak with your team 5-10x more than you’re doing Brought to you by
  140. 140. DISSEMINATING BIG, IMPORTANT CONCEPTS — YOUREXPERIMENTALDESIGN Narrative Summary Presentation Media Principles “Test”
  141. 141. Smaller stuff > Try to do weekly posts Brought to you by
  142. 142. “If I die” docs Brought to you by
  143. 143. Team Family/Friends “Prep the company for sale”
  144. 144. Brought to you by Leverage. Truth. Fear.
  145. 145. You are your champion and your enemy. Brought to you by
  146. 146. patrick@profitwell.com

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