Category Archives: SaaS

Slides from my SaaStr 2021 Presentation: A CEO’s Guide to Marketing

Thanks again to Jason Lemkin and the team at SaaStr for having me as a speaker at this year’s outdoor, live and hybrid online SaaStr Annual 2021 event at the San Mateo Convention Center.  I know the team went to great lengths (and great expense) to enable people both to connect live at an event and make it safe, with both vaccination cards and an onsite Covid test required to gain admission.

In this post, I’ll share the slides from my presentation, A CEO’s Guide to Marketing, which was designed to help startup founders, CEOs, and C-level executives have a little less angst when it comes to the marketing update at quarterly business reviews (QBRs), and help them to avoid getting sucked into the vortex of detail and numbers that can sometimes ruin a marketing update.

I’ve embedded the slides below.  Don’t miss the appendix with five slides worth of links to resources providing additional information!  Once SaaStr publishes a video of the talk, I’ll embed that in a future post as well.

Thanks for coming!

Preview of my SaaStr 2021 Session: A CEO’s Guide to Marketing

SaaStr is my favorite conference and I’ll be speaking there again this year on Monday, Sept 27th at 1:00 PM Pacific with a session titled A CEO’s Guide to Marketing.  I will be doing the speech live, I’m not sure if they’re live broadcasting or not, but they will certainly record it and make it available as they have done in years past.

I chose this session title because I find that in my work with founders and C-level startup executives that people are, well, just not entirely comfortable with marketing.  I spend an increasing amount of time explaining the basics of marketing to founders and startup execs, because most of them don’t come from marketing backgrounds and too many marketing leaders either deliberately hide behind marketing complexity or are just plain not good at explaining marketing.

Either way the result is the same, and e-teams often hearken back to the old WC Fields quote when thinking about their marketing:

“If you can’t dazzle them with brilliance, baffle them with bull.”

In this fast-paced session, I’ll:

  • Explain how product founders are often surprised to find themselves running distribution business.
  • Tell you the scariest thing a CEO can and does hear in every quarterly business review (QBR)
  • Discuss the reasons why marketing is confusing and misunderstood
  • Present the 5 things every CEO and startup exec should know about marketing
  • Provide concrete actions I think companies should consider taking
  • Include “pro tips” on managing funnels and thinking about models
  • Share my “magic secret” of marketing messaging
  • Discuss CMO hiring and pillar profiles
  • Provide 3 pages of links to resources and 5 recommended marketing books in the appendix

I look forward to seeing you there!  Here’s the session link.

For a taste of my presentation style and/or to dive into my previous content, here are links to my prior SaaStr presentations:

 

Join us for Tomorrow’s SaaS Product Power Breakfast with Skilljar Co-founder and CEO, Sandi Lin

Please join us tomorrow morning at 8:00 AM Pacific for the (final in this form — see below) SaaS Product Power Breakfast with Skilljar cofounder and CEO, Sandi Lin, discussing why product managers make great founders and the potential pitfalls they should look out for along the way.

Skilljar, founded in Seattle in 2013, is a fully distributed, ~150-person company that provides a customer education platform to over 400 customers that’s raised $50M+ in venture capital from top investors including Techstars Seattle, Trilogy, Mayfield, Shasta, and Insight Partners.

Sandi is well, a dynamo, with an impressive academic background (two engineering degrees from MIT and a Stanford MBA) matched by equally impressive work experience (~4 years in consulting followed by ~4 years at Amazon in product management followed by co-founding and leading Skilljar).  Our prep call was a whirlwind; it should be a great episode.

Among others, we’ll address these five questions with Sandi:

  • Why do product managers make great founders?
  • How has your product planning process evolved from founder to startup to scaleup stages?
  • As CEO with a product background, how do you interact with your product team now? Has it been challenging to pull back?
  • You used to work at Amazon. What are key similarities and differences in product management from a large company to a startup?
  • What have you found as your blind spots as a former Product Manager?

Thomas and I hope to see you there!

The End of This Format; The Start of a New One
I should note that this will be our last episode in this current form.  While we are pleased with the success of the podcast version of the SaaS Product Power Breakfast, the live rooms have several drawbacks we’d like to address:

  • The platform.  While we started the series on Clubhouse as a deliberate way to participate in the evolution of a new app, I believe the platform has technical limitations for what we’re doing and, moreover, is in general trouble.  We’d like to try something else.
  • The name.  While Thomas is in Germany and I am in Silicon Valley, we nevertheless decided to call the series a “power breakfast.”  That instantly posed timezone challenges for the live events (e.g., Thomas has a “power breakfast” over a beer at 5:00 pm) and didn’t translate well into the podcast.  Moreover, we have strong international audience that should only grow with the recent announcement that I’m joining Balderton Capital as an EIR.  So the name was a fail and that’s on me.  We need a new one.
  • The timing.  I’m not sure how to fix this one, but 8:00 AM Pacific isn’t a great time for a live event.  The West Coast is just starting work, the East Coast in their last meetings before  lunch, the UK is getting ready for a pint, and continental Europe finishing up before heading home for dinner.  With Thomas and I separated by 9 time zones, maybe the best answer is no live event at all.  Just a podcast.  We’re deliberating.
  • The duration.  While an hour is a relatively short Clubhouse room, it’s a relatively long podcast.  We should take a lesson from Harry Stebbings of The 20 Minute VC and work towards a shorter format.  Who knows, maybe it will be The 21 Minute Product Leader.  (Think:  ours goes up to 11)

To those who’ve attended the live rooms and/or listened to the podcast, we thank you.  Thomas and I will be back in several weeks with a new name, a new platform, and a new format.

Why I’m Joining Balderton as an Executive-in-Residence (EIR)

I’m thrilled to announce that I’ll be joining Balderton Capital on a part-time  basis to work with the firm and its portfolio companies on topics related to enterprise software, strategy, go-to-market, marketing, and SaaS metrics.  You know, my usual stuff.  In addition, I expect to do some more VC-style work such as helping with diligence, sourcing, best practice sharing, thought leadership, portfolio-company events, and maybe even expressing the odd opinion on how to best message and position the (already well positioned) firm.  Once a marketer, always a marketer.

The Why Behind the Move
So why did I decide to do this?

  • The people.  I’ve been highly impressed with everyone I’ve met at Balderton and believe they have built one of the top VC firms in Europe.  In particular, this opportunity gives me the chance to work again with my old boss, Business Objects founder and Balderton managing partner, Bernard Liautaud. Without singing his praises to excess, let’s just say that there aren’t many people in the world who have founded an enterprise software company, took it to $1B+ in revenues, then co-founded a second company (Dashlane), turned that company into a unicorn, and followed all that with a highly successful second career in venture capital. It’s enough to make you feel like an underachiever.
  • The work.  I very much enjoy doing all the things that Balderton wants (see below) and relish the opportunity to do my two absolutely favorite things:  teaching and learning.  I’ll spend time sharing what I’ve learned over the past 30 years in enterprise software all while simultaneously learning a ton from the Balderton team and their portfolio company executives.  As Steve Jobs said:  “learn continuously, there’s always one more thing to learn.”  The best way to learn is to surround yourself with great people and challenge each other.
  • The chance to help European companies.  With nine years experience at Business Objects (five of those based in Paris), nearly five years serving on the board of Paris-based Nuxeo, and my fairly recent appointment to the board of Tallinn-based (Estonia) Scoro, I have significant experience in both Silicon Valley and in Europe, enjoy bridging between the two, and have always been interested in the challenges faced by European companies launching and growing in the US and other global markets.  And if helping those companies involves the occasional trip to a farmhouse in Oxfordshire or the Luberon, well that’s just a sacrifice that I’m prepared to make.

What is an EIR Anyway?  Typically, Entrepreneur-in-Residence
EIR typically stands for entrepreneur-in-residence, a pretty varied role itself, but one whose core is this:  the entrepreneur-in-residence wants to return to an operating role and works on a mid-term basis at a VC firm, helping with what needs to be done while watching the deal flow and hoping to find an appropriate company (possibly in formation) that they can either join as a co-founder or as an executive, often CEO.   Sometimes startup CEOs (particularly non-founders) think of this type of EIR as “CEOs-in-waiting” and approach them cautiously as a result.  This is not the kind of EIR role that I’ll be doing.

The Other Kind of EIR:  Executive-in-Residence 
The less common use of EIR is as an acronym for executive-in-residence.  This is what I’ll be doing and the premise is different. An executive in residence typically is an experienced C-level executive who is looking to “stay in the game” but who is not seeking a full-time operational or venture capital role.  They’re typically looking:

  • To keep working, but not with heavy demands of a startup C-level executive
  • To get exposure to the inside of venture capital (often after having worked at VC-backed startups for decades)
  • To give back to entrepreneurs and startup executives by sharing their hard-won lessons
  • To find prospective companies for ongoing advisory or board roles
  • To find investment opportunities either through the VC funds themselves and/or through co-investment opportunities alongside them.

Basically, if the entrepreneur-in-residence is looking for their next gig and wants to spend 6-18 months looking at high-quality deal flow to find it, the executive-in-residence is looking to stay active, give back to the startup community, and find a few high-quality board or advisory roles in the process.  I have several friends, including Max Schireson at Battery, who do executive-in-residence roles and quite enjoy the depth and variety of the assignment.

What, Where, and How Much?
I expect the work to fall into two buckets, composed of the following:

  • Advising portfolio companies on strategy, go-to-market, marketing, planning, and SaaS metrics as well as on more CEO-specific subjects like board management and organizational development.
  • Supporting Balderton on diligence, sourcing, best practice sharing, thought leadership, portfolio-company events, and marketing.

In terms of location, part of the point is to bridge between Silicon Valley and Europe, so I will continue to be based here in Silicon Valley, but I do expect — as Covid hopefully gets back in control — to build up to periodic trips to Europe.

Regarding time and commitment, this is a part-time engagement.  While I expect it to be my largest single engagement, I also expect to have more than enough time to keep working with my existing advisory and board companies, and even take on a few more as those invariably ebb and flow over time.

I am very excited to be starting this new role.  My only regret is joining after the Patagonia branded vest ban.  Hopefully, Balderton has an XXL left over.

See you around the blockchain.

Appearance on the “Yes, And Marketing” Podcast

A few days ago, Steve Pockross released a new episode of his Yes, And Marketing podcast on which he interviews a series of “eclectic and enlivening” marketers where “your weird shower thoughts and disparate liberal arts references take a road trip.” I was last week’s featured guest, and I don’t think the episode fails to deliver on its rather unusual promise.

Steve posted a nice summary of the session which lays out the topics we discussed including:

  • A rambling introduction where we talked about the Grateful Dead as related to marketing and business models, the philosophy of math and Russell’s paradox, the linkage between mysticism and quantum mechanics, the art of the proper French dinner, an unlikely similarity between geophysics and marketing (inverse problems), the quote from A Christmas Carol that most applies to upwardly mobile CMOs (“mankind was my business”), Gad Elmaleh, The Three-Body Problem trilogy, and stuff like that.
  • Imposing simplicity, a critical duty for all marketers
  • The two archetypal marketing messages, Bags Fly Free and Soup is Good Food.
  • Long vs. short copy and how to correctly apply David Ogilvy’s “long copy sells” adage.
  • Content marketing, and when to write C+ deliverables vs. A+ deliverables, and how to be explicit about that in planning.  (Lest you end with straight Bs.)
  • What to look for in a CMO for a startup, particularly if they’re potentially joining from a large company and you’re worried they may struggle in a startup environment.
  • Aligning sales and marketing, a perennial favorite topic, but this time both from the CMO and the individual marketer perspective.
  • The importance of rigorous definitions in messaging, and how you can use them to turn gray messages into black-and-white messages.
  • Walking the benefits stack by repeatedly asking “so what?” and not being afraid to do so.
  • Never forgetting the kiss, i.e., the ultimate benefit from the point of view of the customer, in your marketing.

Thanks to Steve for having me, to Crispin Read for referring me (his episode is well worth a listen), and to all of you who find the time to listen.  While I’ve been doing a  lot of podcast interviews of late, like the Grateful Dead, I promise that each show is different.  And this one’s a barn burner.