0/ [THREAD] I had @DavidSacks on the podcast today and it was one of the most insightful episodes I’ve done yet. Here were the 10 biggest insights I learned from David today.
Lessons on startups, leadership and operating from building multiple multi-billion dollar companies:
Lessons on startups, leadership and operating from building multiple multi-billion dollar companies:
1/ Chaos is exacerbated by growth.
Too many organizations and first time leaders are focused on subduing chaos.
Embrace it.
Ironically, chaos is one of the few startup problems that growth doesn’t solve - in fact, it’s caused by growth.
Too many organizations and first time leaders are focused on subduing chaos.
Embrace it.
Ironically, chaos is one of the few startup problems that growth doesn’t solve - in fact, it’s caused by growth.
2/ If you have product-market fit and are scaling from 50 to 500 employees, you have a fan base
Engage this community as quickly as you can. It may only be a few dozen people at the first event, but it will grow.
Dreamforce started small. Now it's the largest tech conference.
Engage this community as quickly as you can. It may only be a few dozen people at the first event, but it will grow.
Dreamforce started small. Now it's the largest tech conference.
3/ Startups should NOT “do things that don’t scale”
The whole point of technology is to find the elegant, scalable approach. The sooner you do that, the better off you are. When you glorify doing things that don’t scale, you end up with a startup that doesn’t scale.
The whole point of technology is to find the elegant, scalable approach. The sooner you do that, the better off you are. When you glorify doing things that don’t scale, you end up with a startup that doesn’t scale.
4/ When you find the winning formula, press it and keep winning
It’s so hard to create a winning formula that once you do, fight to keep it together as long as possible. If you’re lucky enough to reach the promised land, appreciate what you have and make the most of it.
It’s so hard to create a winning formula that once you do, fight to keep it together as long as possible. If you’re lucky enough to reach the promised land, appreciate what you have and make the most of it.
5/ Avoid drama
Express support for teammates and don’t unnecessarily criticize others. Stay positive, classy and focused. Drama is a waste of time and energy that the best seek to avoid.
Express support for teammates and don’t unnecessarily criticize others. Stay positive, classy and focused. Drama is a waste of time and energy that the best seek to avoid.
6/ Choose equity in yourself over the security of an established brand.
The security of established brands tends to be overrated. It’s better to choose equity upside in yourself when you have the opportunity.
The security of established brands tends to be overrated. It’s better to choose equity upside in yourself when you have the opportunity.
7/ You can’t do it alone, no matter how great you are.
To win big, surround yourself with (A) other greats, (B) "role players" and (C) a system that brings out the best in everyone.
All three of these are equally important and allow you to thrive.
To win big, surround yourself with (A) other greats, (B) "role players" and (C) a system that brings out the best in everyone.
All three of these are equally important and allow you to thrive.
8/ Expect to be underestimated
You will face seemingly endless rejection and endless challenge. Don’t brood over the passes from VCs, the “no’s” from partners or the customers that favor the incumbent.
If you want to be great, focus on proving it with your performance.
You will face seemingly endless rejection and endless challenge. Don’t brood over the passes from VCs, the “no’s” from partners or the customers that favor the incumbent.
If you want to be great, focus on proving it with your performance.
9/ Every startup needs an operating cadence
The two key systems in a SaaS startup are the Sales+Finance system and the Product+Marketing system.
S+F: Orient around a quarterly close event
P+M: Orient around a launch event
Synchronize these for a single company drumbeat.
The two key systems in a SaaS startup are the Sales+Finance system and the Product+Marketing system.
S+F: Orient around a quarterly close event
P+M: Orient around a launch event
Synchronize these for a single company drumbeat.
10/ The best cities will resemble SaaS companies
ARR - Taxpayer $ is subject to churn
Sales - Leaders will actively sell their city to job creators
CSM - Understand why people “churn” and fix it
Marketing - Track NPS
R&D - Use ARR to reinvest / create a virtuous cycle
ARR - Taxpayer $ is subject to churn
Sales - Leaders will actively sell their city to job creators
CSM - Understand why people “churn” and fix it
Marketing - Track NPS
R&D - Use ARR to reinvest / create a virtuous cycle
11/ BONUS: Silicon Valley is no longer a place it’s a way of doing business
Risk capital combined with broad-based employee ownership and support for the very best ideas is something that started in SV, but it’s now spreading to many other places.
That's a great thing.
Risk capital combined with broad-based employee ownership and support for the very best ideas is something that started in SV, but it’s now spreading to many other places.
That's a great thing.
12/ We also went deep on censorship, the enormity of today’s inauguration and where we go from here.
Punchline: David is optimistic and ready for us to move forward as a united country.
I’ll release the ep in soon - subscribe to the pod if you want to give it a listen!
Punchline: David is optimistic and ready for us to move forward as a united country.
I’ll release the ep in soon - subscribe to the pod if you want to give it a listen!