006: 4 Keys to a Scalable Startup with Venture Capital Author, Paul Ahlstrom

006: 4 Keys to a Scalable Startup with Venture Capital Author, Paul Ahlstrom

What does a venture capitalist look for in a winning startup? How does an entrepreneur know when it's time to scale? In this episode of SalesFounders, we explore the playbook of venture capitalist, Paul Ahlstrom, and take a deeper dive into his book, Nail it Then Scale it. Paul shares 4 key strategies that every startup must understand: What is a minimum feature set? How do I validate my solution? What is my go to market strategy? and Why VC's have no interest in your business plan. Do you know what it takes to build a scalable startup? Join us and find out!

Talking Points

MINIMUM FEATURE SET
  • Understanding the difference between Minimum Viable Product and Minimum Feature Set
  • Start with the features that solve the customer problem. What is the process to accomplish that.
  • Focus on the feature set that is most compelling to the customer.
NAILING THE GO TO MARKET STRATEGY
  • Level 1 - You and your company - what are the things that I can do with my company to go satisfy that customer?
  • Level 2 - Partners - Who are the people that are on the same side of the table as me wanting to sell that customer.
  • Level 3 - Influencers - Boundary Spanners - both sides of the line - the people that are the glue of the industry - analysts and guru’s, press and media - key influencers in the space. Don’t go there till 1 and 2 are figured out.
  • Level 4 - Advertising and Marketing - This is a branding exercise - the whole industry should scream your name -

Customers can validate but they cannot innovate - Paul Ahlstrom

NAILING THE BUSINESS MODEL
  • Getting the essence of the model figured out before you have too much infrastructure is important. It get’s harder to adapt the bigger you get.
  • The truth about business plans - a big fat guess
  • Getting into the business model competition -
  • Hypothesis - requires the big idea canvas
  • Go into the field and start having a conversation around this. Discover and uncover the value exchange.
  • Sensitivity analysis - When we have the interjection around 15 minutes, that would be good to narrate something different into it.
CROSSING THE CHASM
  • What he didn’t know was the step-by-step process
  • That’s been my mission - how do we increase the startup pace
  • How do we increase the speed of doing things right more
DISRUPTING POVERTY
  • One of my life missions is to disrupt poverty
  • Global corruption index (see below)
  • Global poverty index map
  • Intangible wealth - effective government and trust and effective judicial systems. It’s what we enjoy in America.
  • So how do you transport or create that wealth in other countries.

Paul Ahlstrom is a co-founder and managing director of Alta Ventures, an early-stage venture fund and co-author of Nail it Then Scale it. For more than 30 years, Paul has operated on both sides of the table as a venture-backed entrepreneur (founder of Knowlix, sold to Peregrine Systems, sold to HP) and as an investor. To date, he has raised over $1B and directly invested over $500M in more than 125 startup companies. He earned his BA in communications from Brigham Young University and an honorary doctorate from the Netanya Academic College in Israel.

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Mastery 11: 4 Traits of Top Performers - Armor Keynote Address

Mastery 11: 4 Traits of Top Performers - Armor Keynote Address

These 4 traits are consistent among top performing sales executives and entrepreneurs. A segment taken from a keynote at Armor Pest Defense.

23 Juli 201731min

020: Driving Sales Growth Through Podcasting with Luis Congdon

020: Driving Sales Growth Through Podcasting with Luis Congdon

Luis Congdon went from sleeping on couches to making a six figure income through podcasting. This week on SalesFounders, we talk about why podcasting is such a powerful medium to establish authority and trust. We talk about how to leverage podcasting to find and qualify customers and how guest appearances can help you sell product and establish market presence. Luis is a podcast and social-selling guru and I am honored that he took time to let us in to his secrets to driving sales growth through podcasting.  For more information, visit www.salesfounders.com/blog

18 Juli 201738min

Mastery 10: 6 Keys to Close More Sales

Mastery 10: 6 Keys to Close More Sales

An accomplished sales executive understands that “closing” starts before the sale begins. Persuasive closing tactics will have little impact if they lack the core tenants of effective communication and rapport. In fact, your level of confidence, product knowledge, and persistence will have more of an impact on performance than the most eloquent closing scripts. Selling is a number game and your goal should be finding the most efficient way to close sales. Here are 6 keys to get your started:  6 Keys to Close More Sales Confidence:  Believe in yourself, your product, and your customer. Selling can be intimidating. Focus on the outcome and where you already have confidence.  Assumptive:  You’re always closing –  success starts with the belief that you have already won.  Preparation:  Know your value, rebuttals to customer objections, and integrate several closes into your sales flow.  Initiative:  Be proactive, work hard, and ask for your customers’ business. Selling is a numbers game.  Persistence:  You’ve got to fight for success. Don’t give up after the first or second rejection. Control: It’s your job to build rapport and lead the customer to the goal. Controlling the conversation is key to closing sales.

14 Juli 201714min

019: Revenue-Based Financing with Venture Capitalist Chris Russell

019: Revenue-Based Financing with Venture Capitalist Chris Russell

The most expensive capital a founder will ever raise is the first round of equity. An early equity round can be a harsh reality check for a founder considering whether to bootstrap or face dilution. The good news is there are other options to consider. In fact, there are ways for early stage startups to obtain funding without having to sacrafice equity. One approach is called Revenue Based Financing (RBF), and happens to be the  specialty of my guest, Chris Russell.  Chris has extensive experience as both an operator and investor; having been involved with dozens of startups. Chris founded GSD Capital in 2010 to invest in early-stage Mountain West startups. He was also the founder of WestHost where he grew the company to 80,000 clients in over 130 countries by the time it was sold to the UK2Group in 2008.  On this episode we explore the concept Revenue Based Financing. How does it work? Who is it for? And why is it such an appealing alternative to early-stage debt financing or venture capital? We also explore the dynamics of the best founding teams, the metrics investors look for in a winning startup, and the surprisingly truth about what matters most when pitching to an VC.

11 Juli 201738min

Mastery 9: What to Expect from your Marketing Agency

Mastery 9: What to Expect from your Marketing Agency

As a follow-up to the 4 Pillars of Online Marketing, this week's Mastery episode focuses on how to pick the right marketing and SEO firm for you business, as well as what you should expect for results and costs. Without a background in web development and SEO, it is extremely difficult for entrepreneurs to create a competitive online presence. At some point, you will need to enlist some professional help to build a powerful lead-generating engine. As you consider your options, here are a few expectations and warnings signs to guide you in your decision.   For more information, visit www.salesfounders.com

7 Juli 201713min

018: The 4 Pillars of Online Marketing with Voxxy Marketing

018: The 4 Pillars of Online Marketing with Voxxy Marketing

Online marketing is one of the most cost effective strategies to attract leads and drive revenue. The challenge is that most entrepreneurs get it wrong as they attempt to develop it themselves. This week, Voxxy Marketing founders, Michael Clark and Justin Taylor join me to explore the 4 key components to your online presence: your website, content, SEO, and paid strategies. We walk through the steps to leverage each component into a cohesive strategy that will have a magnetic impact on your target audience.

5 Juli 201745min

Mastery 8: Developing Your Lead Strategy

Mastery 8: Developing Your Lead Strategy

When it comes to lead strategy, efficiency is the key to success. On this episode of mastery, we explore the reasons most startups struggle with lead strategy, the key components of a winning lead strategy, and a few cautions and best practices to you develop or refine yours.

1 Juli 201720min

017: How to Launch a Million-dollar Crowdfunding Campaign with Zach Smith

017: How to Launch a Million-dollar Crowdfunding Campaign with Zach Smith

A crowdfunding campaign has become one of the most powerful, and competitive, platforms for entrepreneurs to introduce products to the market. The challenge is that less than 20% of campaigns succeed and most of those fall short of reaching their potential. This week, SalesFounders pulls the curtain on America’s leading crowdfunding marketing agency, funded.today. Co-founder Zach Smith joins us to talk about the secrets of crowdfunding and how his team has their clients raise more than $135 million in crowdfunding pledges. With hundreds of successful campaigns in their portfolio, funded.today knows exactly what it takes to create a successful launch strategy, get featured on trending lists, manage a mid-campaign pivot and the 7 p’s that will give your campaign the edge needed to stand out in the crowd.  For more information, visit www.salesfounders.com/blog

27 Juni 201742min

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