Growth - The Perfect Antidote to Gloom.pptx
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A session at SaaSBOOMi Annual 23
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Growth - The Perfect Antidote to Gloom.pptx
- 1. Aneesh Reddy Capillary Growth - Perfect Antidote to Gloom
- 2. ● Capillary started Aug 11th 2008, Lehman tanked Sept 11th 2008 ● Great times to build ○ Businesses are ready to experiment! ○ You can hire good talent ● Cost Reduction Vs Growth Vs Improving Quality 01 Recessions
- 3. Key Points - Don’t give anything free • at least not until your SPOC has taken you to someone very senior in the organisation • and there is joint ownership of success or failure - Make sure your pricing scales as the customers usage scales Affordable Loss vs Large Gain 01 • Try at a small price and Buy – Initial sales model of paid pilots • Value based pricing which scales as the customer scales
- 4. - Don’t avoid a conversation with customers - Try to understand their situation and priorities - Platform + Support services to reduce their TCO - Better together • Bundle in some products where the customer might also be spending Enterprises During a Recession 01
- 5. Our Covid Story Upfront Discount to get Cash out!!
- 6. Sales & Marketing Efficiencies 01 • Look deeper at what is working and what is just keeping you busy • Figuring stickiness – Charging customers more – Funding winter
- 7. - Asking customers to pay 3x more - Average pricing increase of 35% - Focusing on Enterprise - Defocusing on SMB/ Midmarket business • CAC reduced by 50%, even after reinvesting in Partnerships and Analyst Relations FY20: Turning Capillary Profitable 01
- 8. Thank You
- 9. Shree Bhise Bizom Growth - Perfect Antidote to Gloom
- 10. Sales Solves All Problems!
- 11. How Many …
- 12. 3 stories from our SaaS journey
- 13. Recession, Pivot, Scrappy Team, Pivot
- 14. Nothing to lose Nothing to fear Reboot, Pivot
- 17. Think about the persona for hires Rethink incentive structures Find the right leaders Customers can be told to change their process
- 18. How can we leave out …
- 19. Keep reserves for a rainy day Small changes, Big impact This too shall pass…
- 20. Best things in life are free
- 21. Where it all started …
- 22. Thank You
Notes de l'éditeur
- Question to audience. How many have best friends as co founders How many brothers, sisters or family members How many spouses, girl friends or boy friends Well I have my spouse as co founder, for 15 years now and you can’t imagine the amount of gloom that brings in personal and professional life.
- I am going to share 3 stories from our Saas journey
- We started off as Mobisy 2008. Mobisy meant mobile made easy. We were working on something we called Mobitop. It was a mobile runtime for developers to develop apps quickly.. We created successful POC apps also. These worked across Java, Symbian, Android and iOS. But, we were in the middle of the great recession and though everyone wanted apps, No one wanted to pay for them. Our small 15 member team was split into working on the product and making money by doing services. The original founders couldn’t sustain the funds crunch and decided to move on. Only Lalit and I were left. And eventually to survive we started doing more and more services. We left the product initiative to a small team and Lalit started peddling our app development services travelling everywhere. He hated it. A freak accident in 2011 was a turning point. Lalit couldn’t travel for 2 months. Over talking to numerous enterprises and VCs, there had been a seed of idea of building a retail intelligence platform. Lalit himself coded the first version of Bizom and we went live in Diwali that year. There was the difficult task of telling our employees that, hey there are tough times ahead. This was our real start into Saas. So pivot pivot pivot. Think that there is nothing to lose. Overcome fear. Cant meet customers. Sit and code.
- Bizom really started to gain recognition and fly in 2015. About Bizom. Bizom, Mobisy's flagship product, is the retail intelligence platform for brands and their retailers. We are leaders in providing insights and intelligence to CPG brands in India and emerging markets. We help brands achieve smart distribution by improving their manpower efficiency, channel performance and product performance. We achieve this by helping businesses first digitise their entire sales and supply chain and later help the move from a push based distribution to a pull based distribution using solutions that facilitate assisted and inspired selling. The Retail Intelligence Platform enables Brands (selling through mom & pop to distribute smartly and efficiently by utilizing power of technology and data analytics
- Question to audience - Has anyone woken up anxious at night to check in emails if someone has resigned? It is quite stressful and onerous to keep the employees in sync with the vision of the founders. Also under the burden of growing the business, we may sometimes loose sense of what employees are feeling. Although we were getting a lot of traction for Bizom out in the market, trouble was brewing back home. We had a spate of resignations. This was circa 2016. We had to pause and rethink what we were doing. We did a few things. Told customers, writing code is not the answer to solving all problems. Processes need to be fixed at their end. Changed hiring persona Increased ESOP allocations Hired a professional Engineering head and professional HR The picture is from our All Hands in 2018 where we had business and team doubling.
- We were on the verge of getting a termsheet and covid struck. We had been building the customer acquisition growth story for fund raise and had burned up all cash. Credit notes galore. Payments due were also delayed. We put our heads together to do 2 things, How to survive the cash crunch Task force for health We did a few things Voluntary pay deferral Promoters took 0 salary Looked everywhere for credit, deferred all EMIs Two where to grow Suddenly everyone wanted digitisation products, not just india, overseas Doubled down on Africa reachouts
- 2 more things .. One, there are things you can do for free to keep up employee morale and bond as early teams. When there is gloom, you can do stuff to cheer up that doesn’t cost much. Go on a trek with children, spouses Organise runs in the local park Declare potluck days
- Two, Always believe that no matter how big the hurdles are, this too shall pass. Look at us we grew from working in 800 sq ft shop to one of the only 10m arr company focusing on India !! If we could grow from this tacky setup, you can too