I’m super excited for the upcoming SaaStr Annual 2019 conference in San Jose from February 5th through the 7th at the San Jose Convention Center. I hope to see you there — particularly for my session from 10:00 to 10:30 on Tuesday, February 5th. Last year they ended up repeating my session but that won’t be possible this year as I’m flying to Europe for a board meeting that afternoon — so if you want to see it live, please come by at 10:00.
I’d quibble with the subtitle, “Lessons from Host Analytics,” as it’s actually more, “Lessons From a Lifetime of Doing This Stuff,” and examples will certainly span well beyond Host Analytics. In fact, I think one thing that’s reasonably unique about my background is that I have 10+ years’ tenure in two different, key seats within an enterprise software company:
- CEO of two startups, combined for over ten years (MarkLogic, Host Analytics).
- CMO of two startups, combined for over ten years (BusinessObjects, Versant).
I’ve also been an independent director on the board of 4 enterprise software companies, two of which have already had outstanding exits. And I just sold a SaaS startup in an interesting process during which I learned a ton. So we’ve got a lot of experience to draw upon.
Being a SaaS startup CEO is hard job. It’s a lonely job, something people don’t typically understand until they do it. It’s an odd job — for what might be the first time in your career you have no boss, per se, just a committee. You’re responsible for the life and death of the company. Scores or hundreds of people depend on you to make payroll. You need to raise capital, likely in the tens of millions — but these days increasingly in the hundreds — to build your business.
You’re driving your company into an uncertain future and, if you’re good, you’re trying to define that future your way in the mind of the market. You’re trying to build an executive team that not only will get the job done today, but that can also scale with you for the next few years. You’re trying to systematize the realization of a vision, breaking it down into the right parts in the right order to ensure market victory. And, while you’re trying to do all that, you need to keep a board happy that may have interests divergent from your own and those of the company. Finally, it’s an accelerating treadmill of a job – the better you do, the more is expected of you.
Wait! Why do we do this again? Because it’s also a fantastic job. You get to:
- Define and realize a vision for a market space.
- Evangelize new and better ways of doing things.
- Compete to win key customers, channels, and partners.
- Work alongside incredibly talented and accomplished people.
- Serve the most leading and progressive customers in the market.
- Manage a growing organization, building ideally not just a company but a culture that reflects your core values.
- Leverage that growth internationally, exploring and learning about the planet and the business cultures across it.
Basically, you get to play strategic N-dimensional wizard chess against some of the finest minds in the business. Let’s face it. It’s cool. Despite the weight that comes with the job, any SaaS startup CEO should feel privileged every day about the job that they “get to” do.
But there are certain nagging questions that hound any SaaS startup CEO. Questions that never quite get answered and put to bed. Ones that need to asked and re-asked. Those are the 5 questions we’ll discuss in my talk. And here they are:
- When do I next raise money?
- Do I have the right team?
- How can I better manage the board?
- To what extent should I worry about competitors?
- Are we focused enough?
Each one is a question that can cost you the company, the market, or your job. They’re all hard. In my estimation, number 4 is the trickiest and most subtle. There’s even a bonus question 6 – “are we winning?” — that is perhaps the most important of them all.
I look forward to speaking with you and hope you can attend the session. If you have any advance questions to stimulate my thinking while preparing for the session, please do send them along via email, DM, or comment. I hope to see you there.
(Cross-posted @ Kellblog)