Julie Persofsky’s Post

Every #startup founder needs to be more like Scrooge McDuck. Knowing when and how to spend money to maximize yield. As a startup founder with a shoestring budget it's important to be frugal. We engineers naturally gravitate towards utilizing SaaS and serverless solutions, enabling us to embrace a pay-as-you-go approach. This mentality shouldn't just stop at technology—it should permeate every aspect of our startup journey. It's disheartening to witness founders squandering precious VC funding on extravagant offices and media operations rather than focusing on their core mission: crafting solutions that simplify and delight their customers. Instead of splurging on lavish offices, why not operate from the humble confines of your basement? Rather than pouring funds into Forbes for PR, let your product speak for itself. And those extravagant offsites? How about swapping them for outdoor adventures that foster team cohesion and creativity? Let's refocus our efforts on what truly matters—building something extraordinary that enhances the lives of our customers. Embrace the Scrooge McDuck spirit!

Let’s play a game of This or That. Which one would you, or have you chosen and why? ⭐ MVP (Minimum Viable Product) OR MLP (Minimum Lovable Product) ⭐ We’re definitely more MVP. We see the key benefits of this approach, including: - Validating market demand - Minimising risk and costs - Faster time-to-market - Customer-centric development - Iterative improvement So, are you more Dropbox and AirBnB MVPs and prefer to test the market? Or more like Apple and Slack MLPs creating early customer delight? Drop your answer below. ⬇️ #ThisOrThat #TechStartups #StartupCEO #StartupFounders ------------------------------------------------------------ Hi, I’m Tim. Founder of Scryla Consultancy Ltd and Novidian. I help SMEs and startups develop agile technology strategies that align with business goals creating significant value for founders and investors. Like what you’re reading? Sound the 🔔on my profile to get regular updates! Or + Follow if we aren’t connected.

Founders, are you focusing on a North Star that truly aligns with your product's success? Understanding and leveraging a North Star metric can be the beacon your startup needs to navigate the choppy waters of early growth and product development. EIR Nick Black gave us a masterclass this week on how to look at your North Star metrics. Here’s why it’s vital and how to make it work for you: ◾ User Behaviour Drives Your North Star: The best North Star is not your ARR or your NRR; it's a metric that reflects how users engage with your product. Ask yourself, how would customers behave if they absolutely loved what you've built? ◾ Engagement Equals Growth: Typically a North Star is an engagement metric. Think weekly active users or feature adoption rates. Depth of user engagement often correlates with higher retention and organic growth. ◾ Take a Deep Dive Weekly: Review your North Star metric in detail weekly, and keep a lighter daily check on progress. This consistency keeps you informed about whether your strategies are on the right trajectory. ◾ Iterate as Necessary: Don't be afraid to pivot if you realise your North Star doesn't fully capture your product’s value or user engagement as you evolve. Adaptability is key in the early stages. ◾ Communication is Key: Ensure everyone on the team is aligned with the North Star. Regular discussion and reinforcement will ensure it becomes part of your startup's DNA. ◾ Pair With Proxy Metrics: Identify predictive proxy metrics that influence your North Star, like the percentage of users engaging with your core feature. This gives you foresight into your North Star’s future performance. ▪ Ruthless Prioritisation: Align all activities and feature development with what drives your North Star. Cut out any activity that doesn't have a direct impact.  ◾ Build a Dashboard: Visual tracking using tools like Mixpanel or Amplitude ensures that these metrics are always top of mind and informs decision making. Implementing a focused North Star strategy can be a true game-changer for your startup. Have you identified your North Star? Drop a comment below and let's discuss the engagement metrics that matter most for startups! Don't miss your chance to join the community as a beta tester before we officially launch next week! Jump in early and join with the link in the comments. #StartupGrowth #NorthStarMetric #Founders #ProductMarketFit #SaaS #StartupStrategy #Fintech

In the startup world, scalability is king. We automate, optimize, and streamline our processes. Yet, what if the real growth lies elsewhere? Airbnb hit gold with "Obama O's" and "Cap'n McCain's" cereal, raising $30k to keep their startup alive. This limited offering attracted investors and showcased their unique brand, paving the way for future growth. Many successful startups have used unscalable tactics to drive growth. → Providing rapid support. → Manually onboarding users. → Engaging in hands-on work. Even though they aren't sustainable long-term, they're essential for early traction. These tactics involve: → A personal touch → Deep understanding of customers → Commitment to go the extra mile Why? → Test and validate ideas. → Iterate with real feedback. → Lay a solid foundation for scaling. → Strengthen customer relationships. → Save money and maintain flexibility. A great experience, even if it's not scalable, can get you to the top. It's about quality and personal connections. 🌱 Start small, Think big, and Scale later. Which unscalable tactics have you used successfully? *** 👋, I'm Othmane Agoumi, helping startups innovate and reshape industries. ♻ REPOST and share with your friends! If you enjoy my content, follow me for more. #startups #productmanagement #productdevelopment #growth #founders

90% of startups fail to achieve product-market fit. (and money can't fix this one 💸) Imagine this... You have some happy, engaged customers... …but things still feel early and messy. Welcome to the first stage of PMF The potential is there, but the path? Still blurry. Here’s where many founders slip up: They think early traction = Time to scale. Yet that’s a recipe for chaos. This stage needs something different. ➡️ Focus on satisfaction. Without it, demand never grows. It fades, like building on sand. Skipping steps here risks everything. So, what’s the move? 🔹 Double down on satisfaction. 🔹 Make early customers stick and pay. This isn’t about features. It’s about impact. Think of it like: 🏠 Airbnb: making people feel at home anywhere. 💬 Slack: simple, effective team communication. To be in that 10%, focus on: - Building trust - Creating reliability - Listening to pain points - Solving real problems (not “nice-to-haves”) When customers find value, they stay. And that’s the first step toward PMF. It’s slow, it’s messy… but it drives sustainable growth. Before scaling, ask yourself: 🔸 Are my customers happy? 🔸 Are they sticking around or just passing by? 🔸 Is my product part of their daily lives? And the final question: If your product disappoints, would your customers be disappointed too? That’s when you know you’re on the right path. *** Found this helpful? Repost it♻️ 💙 Follow me → Othmane for more. #ProductDevelopment #Founders #Startups #Product #B2B #CX

Being a Founder, you lose sleep over the investors' relentless expectations and also your own product development deadlines. 😓 It's daunting. I know; I've been there. Here are some key points to help out: Beyond Ideas: Craft a Blueprint for Success It's not just about having a groundbreaking idea; it's about proving its viability. Dive into market research, gather feedback, and iterate a plan that demonstrates not just vision but a path to market leadership. For example, how Slack pivoted from a gaming platform to a communication powerhouse by closely listening to user feedback. Scalability and Defensibility: Your North Star Investors chase potential. Showcase your business's scalability through metrics and milestones, and underline your competitive edge. Consider how Dropbox emphasized its viral growth strategy and unique technology to stand out. Multifaceted Approach: Beyond the Product Balance is key. A compelling product must be matched with a robust business model, a clear value proposition, and evidence of market need. Airbnb's approach to expanding its service offerings and prioritizing user experience demonstrates a multifaceted strategy toward growth and scalability. Reach out if you're looking for unsolicited advice to get some sleep :) #StartupFunding #StrategicInsights #TechInnovation #funding #investors #sleep #obstacles #FounderChallenges #InvestorRelations #ProductManagement #StartupGrowth #EntrepreneurLife #InnovationLeadership #MarketValidation #BusinessModelInnovation #StartupMentorship #GrowthHacking #TechStartups #VentureCapital #StartupAdvice #BusinessScaling #EntrepreneurMindset

When startups are small, everyone’s laser-focused on building the product. But as you grow, it’s easy to get bogged down in managing people and processes instead of innovating. More hires mean more meetings, more documentation, and more risk management—all things that can pull attention away from the product that made you successful. Here’s the trick: Don’t let growth derail your focus. Keep your teams close to the product, streamline processes to support innovation, and maintain the agility that helped you succeed in the first place. Remember, it’s about building on your success, not just maintaining it. #StartupGrowth #FocusOnProduct #Innovation #Agility #SaaS https://lnkd.in/gCSFcREc

Here's a sobering thought: Is your startup really in product-market fit, or are you just riding the wave? I recently revisited a video with Sam Blond, who spoke at SaaStr, and his insights on today's venture and startup landscape are eye-opening. Back in 2021, it felt like every other pitch could snag some funding. But since then, the game has changed drastically. As Sam navigated his 18 months at Founders Fund, he learned some unfiltered truths about what it takes to get funded today. Gone are the free-flowing VC dollars—and with them, the luxury of inefficiency. In a world where the bar for funding is higher than ever, Founders Fund only gets excited about one in a hundred companies. Specialized investment flavors abound, meaning your chances are slimmer and more specialized. In 2021, the flood of investment created a frenzy where new startups popped up in saturated markets, often without solid footing. But now, it's clear: If your growth has slowed, you're likely out of product-market fit, and mere tweaks won't save you. Here are some nuggets from the conversation: - Efficiency is Key: Startups must now focus on maximizing their resources, from sales strategies to marketing spend. - Demand-Supply Alignment: If your sales team is underperforming, it's likely not their fault alone. The demand has to be there for the sales to follow. - Apply Creativity Over Capital: High spending isn't the answer. Lean into creative campaigns and personalized outreach to stand out. - Long-Term SDRs: Strive to find and retain sales development representatives who view their role as a long-term career, rather than a stepping stone. So ask yourself: How can you creatively maximize your existing resources? Are you scrutinizing metrics and making decisions based on both performance and gut feelings about fit? Reframe your approach for 2024. It's not about throwing money at your problems; it's about strategic, efficient growth. How are you adapting to the new landscape? Share your thoughts and experiences! #StartupGrowth #VentureCapital #Efficiency #ProductMarketFit #Innovation #SaaS #SalesStrategies

🌱 Understanding Startup Funding Stages 🌱 🟢 Pre-launch / Pre-product / Pre-seed: Funding: $0 - $190K Runway: 6 - 12 months Scenario: You have a pitch deck and a simple MVP but not a full product. Small team of 1-4 people. Goal: Validate your idea or pivot based on customer feedback. 🔵 Seed 1: Funding: $200K - $500K Runway: 12 - 18 months Scenario: Product is running, focusing on user behavior and increasing signups. Relying on word of mouth or viral marketing. Goal: Increase traffic to optimize conversion. 🟣 Seed 2: Funding: $600K - $1M+ Runway: 18 - 36 months Scenario: Product/market fit with a large customer group and a working distribution model. Goal: Stabilize the business and grow the team. 🔶 Series A: Scenario: The real growth stage begins here. Goal: Scale up operations and expand the business. 📈 IPO and Public Market: Scenario: Company goes public. Goal: Raise significant capital and expand further. #Startup #Funding #Stages

🚀 High Growth = High Chaos? RevOps in the fast lane of a startup can feel a bit like trying to build a plane while flying it. Here’s why the world of RevOps often turns into a wild ride in high-growth startups: 🔧 Ever-Changing Processes: As startups scale, processes that worked for a team of 10 suddenly implode under the pressure of a team of 100. It’s like playing a game of Tetris on fast forward; you’re constantly rearranging to fit the growing needs. 📈 Scaling Systems Struggle: The tools and systems that got you off the ground might not keep you in the air. Upgrading or changing these systems while in full operation mode is like swapping out the engine mid-flight. 🤝 Cross-Departmental Mayhem: When sales, marketing, and customer success are growing at breakneck speed, aligning them without a solid RevOps strategy is like herding cats... on a skateboard... down a hill. 💡 Data Overload: With growth comes data - lots of it. Managing and making sense of this tsunami of information without robust processes is like trying to drink from a fire hose. 🔄 Feedback Loop Frenzy: Rapid growth means feedback comes in hot and heavy. Implementing changes based on this feedback before you’re buried under the next wave requires agility akin to a high-speed chase. 👥 Talent Turnover and Training: Keeping up with hiring, onboarding, and training while ensuring everyone’s rowing in the same direction adds another layer of complexity. It’s a bit like trying to conduct an orchestra where the musicians change every few weeks. 🎢 Priority Whiplash: Priorities can shift overnight in a high-growth startup, leaving RevOps teams in a constant state of pivot. RevOps chaos in high-growth startups isn’t for the faint of heart. But for those who thrive on adrenaline and puzzles, it’s the ultimate ride. The key? Embrace the chaos, invest in scalable solutions early, and always keep your eyes on the horizon. #RevOps #StartupLife #GrowthChallenges