The Latest From SaaStr: 5 Things Every Successful Entrepreneurs Know

By Jason Lemkin · Monday, January 24, 2022  | Early

"It will work," and "I'm not going to quit," are just two of the governing thoughts of the most successful entrepreneurs.

See all five, plus a video from Blackline Founder Therese Tucker demonstrating all five points.

Read the full article: The 5 Things Successful Entrepreneurs Know

By Jason Lemkin · Monday, January 24, 2022  | Leadership

In the old days, we didn’t have to worry about finance too much. Companies grew more slowly, there was nothing for a CFO to really do for years, and you could sort of outsource everything and just keep an eye on the bank statement.

Things have changed a lot. SaaS accounting and finance has gotten pretty complicated, and the impacts of getting it wrong have gone up substantially.

Read the full article: The Top 10 Important Finance Mistakes First Time Founders Make

By Jason Lemkin · Monday, January 24, 2022  | Leadership

Over the years at SaaStr we’ve talked a lot about hiring a great VP of Sales, when it works, when it doesn’t, and how it moves the needle.  Put simply, a great VP of Sales will come in and if nothing else, take whatever leads you have … and get more out of them. 

What we haven’t discussed as much is the simple math on the flip side … what happens if things are going OK, so you decide to hold off.  To stick with founder-led sales longer than most folks do, i.e. past $1.5m-$2m ARR or so.

Read the full article: Why Founder-Led Sales Breaks Earlier Than You Think

By Jason Lemkin · Sunday, January 23, 2022 |  Fundraising, Q&A

We did an analysis of SaaS startups that had IPO’d and about 70% were new versions of something new, and 30% were truly new categories. 

The reality is, entering an existing market especially in B2B is often faster and easier, despite the competition. But creating a new market is sometimes where the really huge outcomes come.

Read the full article: Do VCs Prefer Startups With No Competition, Or Those Disrupting Competitive Spaces?

By Jason Lemkin · Sunday, January 23, 2022 |  Blog Posts, Customer Success, Growth, Q&A, Sales

You can steal a customer from a competitor. But unless they are so fed up that they’d inbound to switch — you have to go further. And most vendors are too lazy to go far enough to get folks to switch to them.

A discount isn’t remotely enough. The switching costs will far exceed the costs for the software itself, in many cases. So what does it take to steal a customer?

Read the full article: Want To Steal a Customer from the Competition? You Gotta Do The Work

IMPROVE YOUR CUSTOMER DATA ONBOARDING

By Amelia Ibarra

Import customer data into your SaaS application with one click. Flatfile helps SaaS companies scale by simplifying customer data onboarding. See how.

MANAGE EMPLOYEES TIME SPENT WITH TIME TRACKING

By Amelia Ibarra

Leading the way in time clock technology, OnTheClock provides a seamless solution for businesses to track hours worked and connect with payroll providers, including QuickBooks, Gusto, Thomson Reuters & more. They're giving the SaaStr community a free 30-day trial. Get started today. 

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