Showing posts with label Co-founders. Show all posts
Showing posts with label Co-founders. Show all posts

Wednesday, September 30, 2015

Quick Link: Rami Essaid of Distil Networks on Startup Grind

The downloadable and streaming audio is here, the video is here.

Highlights:


  • Worrying about Competition Copying Ideas: The Unique Way in which you Execute Is Everything.
  • Equity split among founders who are full time and moonlighters who will join only post funding. He was the only one doing it full time, so he had a majority stake while the moonlighting co-founders split the  rest.
  • Starting without tech co-founders is an up hill battle. If you can't sell your vision for the product  to a techie, it would be difficult to sell it to investors.



Tuesday, May 20, 2014

How many times should you follow up on a sales lead before giving up?

According to Steli Efti, CEO of sales software firm, Close.io, this Mixergy interview, it's forever - or, at least, until the prospect tells you to stop following up!
My follow up strategy is binary so I follow up until I get a reply. And it doesn’t matter how many times I have to follow up...So when someone doesn’t reply to me I just assume people are busy. Assume people have their own lives, their own struggles their own challenges, it’s not all about me...I just wait for them to reply. Anybody can tell me, “Stop sending me frigging emails” and I’ll stop but as long as I don’t hear back, I’ll follow up. 
...you cannot be whiny, needy or apologetic about it., I stay very clean cut, professional in those emails. I don’t go back and say, “Well I know I already sent you 48 emails and you might not have seen them. No I just go, “Hey, I hope this is a great start off to your week, when is a good time for you to talk with me this week, either Tuesday or Wednesday.” And back a week or two later, I’ll follow up I’ll say, “Hey did you see this great new [??] we wrote or this new development in our software, what would be a great time next week to chat? What about this or that date?” I’ll just continue following up and I’m not going to reference back to why I’ve not heard back from you.
Other Highlights:

  • Hiring sales people 
...we’re looking for young people that are very entrepreneurial, very smart, have very (good) values and have kind of the personality of a sales person. Somebody that likes people, somebody that likes to communicate, somebody that can deal emotionally with rejection, someone that has high emotional stability.
  • Go out on a "founders' date" each week
Once you actually hire more and more people, you grow the team, eventually founders are on different departments and you don’t get as much time quality time together. So once a week we go on a dinner and in that dinner we don’t talk about technical things but the question really is like how do you feel? How is everyone feeling? Is there anything I did that pissed you off? Anything tiny that happened in the last few days?
  • Great parting question for the initial sales call - "what is it going to take for you to become a customer?" (from the follow up Mixergy Master Class on Enterprise Sales by Elli)
During your first meeting, ask about their sales process. Who needs to get the buy-in and how does it work? “Even if you are progressing well, your deal might get lost in the middle of a reorganization or somebody leaving,” says Steli. But if you understand their sales process and the timeline, you can make an informed decision about whether you’re willing and able to devote your resources to closing the deal. “Ask, ‘What will it take for you guys to actually become a customer?’” Steli says. “Then have them guide you through the entire process. Keep asking until they say, ‘Yes, and then we will pay you money for your product.’ Then you actually have the roadmap.” 

Wednesday, August 22, 2012

"Avoid Mind Blocks & Artificial Boundaries" - K. Pandia Rajan & Latha Rajan of Ma Foi

Latha Rajan & K. Pandia Rajan of Ma Foi ( B i o s)

In conversation with K. Satyanarayan, Co-founder of regional language publishing firm New Horizon Media. (Recorded on August 15, 2012 in Chennai.)

Highlights:

Takeaways for Other Entrepreneurs: (Click on the links for the video segments)

  • Don't add artificial constraints when it comes to entrepreneurship
KPR: Separating home and work, politics & business - we tend to have many boundaries where none need to exist. These are  Western notions and mind blocks that we can revisit.

Being a Husband-Wife Entrepreneur Combination was never a major hassle for us. In fact, as Latha says often, we would have probably fallen apart but for Ma Foi!

Latha Rajan: In the early days, he used to travel 25 days a month and I used to travel 10 days a month. But since I was there within the system, I could understand (the pressures and issues). Both of us knew what we were working towards.

Entrepreneurship has given me a lot of flexibility mentally. I used to take my daughter and son to office if it was required. In fact, the 30th day after my son was born, I was in the office and I took him along.
  • Employees as Members: Everyone who joins Ma Foi is referred to as a "member" (as against an employee). 
Latha Rajan: "Employee sounds so transient".

Even if someone leaves the organization (as an employee), he/she still remains a Ma Foi member (and hence an ambassador for the firm).
  • Innovation in funding: Converted the company into a public limited one very early and raised small amounts from over 275 well wishers, employees & ex-employees and clients. Made sure to pay the shareholders a decent dividend each year. (Ma Foi paid 20% "religiously".)
Growth, Diversity, Transparency and Integrity
Everyone knew how much everyone else was producing
Management through "Operating Board, Management Council and Institutional Member" meetings
Other Highlights (The Journey & Lighter Moments)
The Full Length Interview Video



Video Of The Q&A Session 


Click Here to Download The Full Interview Audio Podcast - 69 minutes, 32 MB
Use Right Click & Save As to download to your desktop

Click Here to Download the Audio of the Q&A session - 8.54 minutes, 4 MB
Use Right Click & Save As to download to your desktop

For more pictures from the recording event, Click Here