Clarity

I had been stewing on this one idea for a couple weeks now and suddenly the answer came to me. I had clarity. I had relief. I knew exactly what to do next. Only, sometimes it takes a few minutes for clarity and sometimes it takes a few weeks. I like to make decisions quickly,…

The Best Time to Raise a Series A

Continuing with yesterday’s post Revenue Run-Rate to Raise a Series A, the immediate follow up question is: assuming low-to-mid six figures of recurring revenue, when’s the best time to raise a Series A? While the simplest answer is that the best time to do it is anytime you can do it on good terms, the real…

Revenue Run-Rate to Raise a Series A

Here’s a common conversation I have with entrepreneurs: Entrepreneur: I want to raise a $2 million Series A. Me: Great. How much recurring revenue do you have now? Entrepreneur: We’re just getting started and have a few pilot projects. Me: Cool. What’s your annual revenue run-rate? Entrepreneur: Well, we don’t have any revenue yet. Me:…

Build to Last or Build to Sell

Whenever I give a talk and tell the Pardot story, one of the 10 most popular questions I get is “did you have a plan to sell the company?” My response is always that our goal was to build the best company possible and to make sure that it met the two following conditions: Be the…

Planned Growth and Striking Oil

Recently, I read a post about how entrepreneurs like to think that growth is readily planned and predictable. Then, an employee that had been in a hyper growth startup, said “no”, it’s not the planned growth that everyone thinks. Rather, it’s like striking oil and the resulting mad dash to take advantage of it as…

Upselling Customers in the Early Years

One question I’ve received several times is regarding best practices for upselling customers. Interestingly, at Pardot, we didn’t employ any concerted efforts around upselling in the early years. All the focus was on acquiring new customers, and making them successful. In addition, at the time, product pricing was based on email volume and usage of certain features, making upselling difficult…