Jourdan Brunson

Learn how to fine-tune your product to meet market demands with strategic customer conversations and data-driven feedback mechanisms 👇 ➡ 𝗜𝗻𝘁𝗲𝗿𝘃𝗶𝗲𝘄𝗲𝗲: Brian Long, CEO & Co-Founder at Attentive 🔌 𝗜𝗻𝘁𝗲𝗿𝘃𝗶𝗲𝘄𝗲𝗿: Nick Moran, General Partner at New Stack Ventures and Nate Pierotti, Principal at New Stack Ventures ✏ “The Playbook to Finding Product-Market Fit, When Founders Should Begin to Scale, and Lessons from Building Attentive” ⭐ 𝗦𝗮𝘃𝗲 𝘁𝗶𝗺𝗲 𝗯𝘆 𝘁𝗮𝗹𝗸𝗶𝗻𝗴 𝘁𝗼 𝗮 𝘁𝗿𝗲𝗺𝗲𝗻𝗱𝗼𝘂𝘀 𝗮𝗺𝗼𝘂𝗻𝘁 𝗼𝗳 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀: 💬 "I think that what we got right were two things. One, I think that we talked to a tremendous amount of customers, before we started building things. So we learned to hear their problems, hear their issues, and then start building and assaulting those, you know, rather than kind of just jumping right into build-build-build, so that saved us a lot of time." ⭐ 𝗚𝗲𝘁 𝗾𝘂𝗮𝗻𝘁𝗶𝘁𝗮𝘁𝗶𝘃𝗲 𝘀𝗰𝗼𝗿𝗲𝘀 𝗳𝗿𝗼𝗺 𝗰𝘂𝘀𝘁𝗼𝗺���𝗿𝘀, 𝗻𝗼𝘁 𝗷𝘂𝘀𝘁 𝗾𝘂𝗮𝗹𝗶𝘁𝗮𝘁𝗶𝘃𝗲 𝗳𝗲𝗲𝗱𝗯𝗮𝗰𝗸, 𝘁𝗼 𝗼𝘃𝗲𝗿𝗰𝗼𝗺𝗲 𝗽𝗼𝗹𝗶𝘁𝗲𝗻𝗲𝘀𝘀 𝗯𝗶𝗮𝘀: 💬 "I think you're also looking at things like NPS, you know… because if that number starts dropping, it's often because you're no longer solving the problem." ⭐ 𝗧𝗮𝗸𝗲 𝗮 𝗹𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝘃𝗶𝗲𝘄 𝗮𝗻𝗱 𝗵𝗮𝘃𝗲 𝗮 𝘁𝗵𝗲𝘀𝗶𝘀 𝗮𝗯𝗼𝘂𝘁 𝘄𝗵𝗲𝗿𝗲 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗶𝘀 𝗴𝗼𝗶𝗻𝗴 𝘄𝗵𝗲𝗻 𝗯𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗰𝗼𝗺𝗽𝗮𝗻𝘆: 💬 "I think that we've taken an even longer term focus. We know what can be big. And we know it's dangerous to start getting an ego to think you can do things because it's always very hard. You've always got to think towards taking a longer term view, having a thesis around that view, and then understand how the pieces can come together for success." ───── 👉 Follow me, Alexander Small, for tactics and strategies for building startups from industry-leading Founders, Operators and Investors

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🔥Tune In to the Latest Fireside Chat with a VC in Healthech🔥 What percentage of VCs are former founders? 30% maybe more? I'd think a fair amount, yet how *exactly* does that transition happen and what perspectives change *radically* afterwards? Sigvards Krongorns shared exactly that - his journey from PwC consultant to Healtech founder, to a VC shaping the future of Healthtech startups. What we talked about: ✨ Sigvards' transition from a PwC consultant to founder to a VC ✨ What steps are necessary to bring innovative medical devices from concept to market ✨ How being a founder can prepare you for a role in venture capital ✨ What strategies help navigate the regulatory landscape in healthtech startups ✨ The right way to engage with VCs for startup funding ✨ What future trends in venture capital and Healthtech look like #HealthTech #VentureCapital #Innovation #StartupJourney #HealthcareInnovation #Entrepreneurship #FiresideChat #VentureCapitalInsights Full conversation can be found here:

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Today was a big win for consumer health, with Flo Health Inc.'s valuation at $1 billion. We're hearing talk about the market becoming frothy again, but I’d argue—without seeing the detailed financials—that this valuation could be entirely warranted. Flo has built an impressive business, with 5 million paid subscribers and 70 million monthly active users. At $60 per year for users to access the product, this business has hundreds of millions in revenue and plenty of room to grow. It's increasingly clear to me that innovators focused on healthcare have been wildly underestimating consumer business models for years, believing that patients would only opt for solutions covered by their health plans and prescribed or recommended by their doctors. That thesis needs updating, particularly given high deductible plans and soaring co-pays. Innovators building solutions that users genuinely love will win - even in healthcare. These businesses also have the potential to move into B2B channels, which is far easier to do when you have an engaged, loyal user base. I expect we’ll see many more consumer health businesses “pop” in the years to come, further proving that consumers are ready and willing to pay for such solutions. We're watching closely at Cherish Kudos to the team at Flo for this impressive milestone. Lainie Muller Charlotte Yeh Aashima Gupta Avanlee Christine Esther Dyson Alexandra Drane Jessica Kamada Vin Gupta, MD MPA Asheesh Saksena Paul Crnkovich Josh Kampel Steve Chazin Lee Wagner #agingwithattitude #independentliving #consumerdrivencare

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Going from Zero to Product Market Fit is like getting out of a Bermuda Triangle For every direction that works out, an equal and opposite direction works too It is shocking how few get to product market fit Only 15 out of 100 SaaS companies get to a million dollars in revenue When you have PMF, it is an awesome feeling Everything is going smoothly for you It also feels scary and out of control You push one unit, and ten units of progress happen But when you don’t have it…. You push ten units of effort, and not even a unit of progress happens It feels like a Sisyphean punishment Moving a boulder up the mountain In the GenAI age, I hear arguments that go “The focus should be on the core functionality. Like how musicians concentrate on the music itself” This is clearly a faulty analogy Businesses providing playback formats (cassette tapes, CDs) are obsolete today Gen AI brings AI below the API No more does one need to stand up a team in ML Spend a few million dollars to “translate languages” or “transcribe accurately” GenAI now assures that Getting to PMF boils down to the basics - Do you understand the problem deeply - Can you build a 10x better solution - Can you execute & iterate faster - Don’t die in the process (cash) What has worked for you to get out of the Bermuda triangle?

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#MondayObservation: Product-market fit is misused in most pitch decks, VC conversations, and even inside founders' heads. I see "PMF" being a condition for funding in many decks. So founders come up with all sorts of bs to cover that point and get funded, and this becomes probably one of the most misused terms in the tech entrepreneurship and product world. PMF - what does it mean? 1 paying customer? 10 paying customers? 1st loyal customer? None of the above. It is a super-sensitive mix of product growth, customer loyalty and retention, value-price dependencies, maintenance of the team, and tech and market percentage. Everything else is traction. Many companies have paying customers even before the PMF, some companies can even pivot and try out different directions and be successful in both - so what is PMF for them and when is it considered „found“? One of the best practices for PM working on early-stage products is to define the PMF with a set of metrics and keep an eye on that. PMF is "calculated" through stable (sometimes it starts as even explosive at first) growth, high levels of retention, upsells and loyalty, pricing changes that don't cut your customer base in half, the teams being able to support all of that with their time and expertise, adequate marketing budgets and more. PMF is what you are paying your CPOs and CTOs for - the discovery and support of the PMF via building structures, culture, and team and helping your product stay on the market that is ever-changing and competitive for a long period. I keep saying - your PMF is hidden in the shortcomings of your competitors, and getting to the actual PMF will take you way longer than just some months of playing around with your MVP. So can we keep PMF out of the pre-seed VC decks, please? If you want to know more and learn how to get to your actual PMF - let's talk! At Tech Unicorn Builders we are offering support for founders and teams in this product space as well 🦄 #productbuilding #techfounders #pmf #productmanagement #firsttimefounder

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Last week, I sat down with Matt Bernier, a product leader at Temporal Technologies, focused on developer experience to talk about what he's learned about building trust between product & engineering and how to operate on pricing & packaging. Here's ~2 minutes on the challenges product managers have to be aware of when leading pricing & packaging initiatives. I loved this conversation, and we’ll release the entire interview soon on youtube. 3 ideas have stayed with me from this interview. 1. The power of analogy to foster trust and collaboration between teams, especially between product & engineering teams.🤝 2. The criticality of considering the developer experience when architecting SaaS for discoverability.🖥️ 3. The product manager's responsibility to deeply understand how their business grows — from how sales reps are incentivized, to margin objectives, to land & expand opportunities.📈 Matt has had an incredibly textured career as an operator, impacting product at companies across a wide range of industries: Communications (SendGrid, Twilio), Recruiting (Technical Integrity), Martech (mParticle), and application development (SpottedKoi, Delta Systems), and mobile device management (Cloudsync Technology, Good Technology). What always stands out to me about Matt is his ability to methodically improve processes via a commitment to being a great collaborator in technical environments. #pricing #packaging #b2bsaas #monetization

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So we're trying that whole automated outbound thing. It's pretty fun. We have ~50 mailboxes set up across the team for a monthly sending capacity of ~30,000 (30 emails a day max by 50 inboxes by ~20 sending days a month). We won't use that whole capacity in order to keep some mailboxes waiting. This may be the most... heavy-to-set-up but lightweight-to-test "ad campaign" I've ever run. Here's how it works, courtesy of the excellent work of Joe Rhew of The Workflow Company: - Clay tables check HubSpot for exclusions, and then qualify companies we import that we believe cold call, and confirms they're otherwise a fit (size, geo, b2b, etc.) - I assign owners for email and phone and the HubSpot record in Clay - Clay again waterfalls those contacts first through FullEnrich then through Clay sources - Clay tees up colleague names, sales rep names on the team, and site-based implications of sales led motions (e.g. "Request a Demo"); option for me to plug in a custom first line based on the list (e.g. "Saw you liked X's post") - One click import to Smartlead per rep campaign (inboxes/domains on Mailforge - Cold Email Infrastructure 📈 ) Here's what I've learned: - The email infrastructure gurus are very tuned in to how much a moving target are the best practices for deliverability. This makes the channel high risk, effort and cost to maintain. - Doing it the first time is the hardest, though. I can picture rearchitecting this inside a week. - 5.5% reply rates mean there are signs of life. But it still comes down to testing, which this foundational framework allows us to do, and... - Right titles/personas are everything. The LinkedIn-based "find contact at company" feature in Clay is amazingly flexible but returns sparse results. Will likely be reconfiguring that element. And I know I'll get a ton of outreach from vendors wanting to replace pieces of this, and that's ok (some of them I am testing out, like ExactBuyer and Trigify.io) - but keep in mind what is so helpful about this being on Clay is the flexibility. I can edit parts of these tables with so many options. If one part of the workflow gets weak or needs reconfigured, there are dozens of other things I can attempt without ever leaving Clay.

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What sets product-led companies like Calendly, Dropbox, and Slack apart from the crowd? Let me break it down for you! After signing up for more than 50 product-led growth companies, our incredible team at ProductLed has identified some key characteristics that these top-tier companies all share. Here's a quick overview: 1) No more email verification walls These companies prioritize user convenience by eliminating the hassle of email verification. They understand that time is precious and want users to dive right into their product without unnecessary barriers. 2) Transparent pricing Product-led companies believe in being upfront about their pricing structures. By providing clear information, they build trust and demonstrate their commitment to creating a fair and open relationship with their users. 3) Complementary free product These companies know the power of a great first impression. They offer a complimentary free product that showcases their core value proposition. It's a fantastic way to engage users and prove the worth of their offerings. 4) Tight feedback loop Listening to customers is a priority for product-led companies. They establish a tight feedback loop to gather valuable insights, allowing them to continuously improve their product based on real user experiences and needs. 5) Frictionless signup experience Simplifying the signup process is crucial for these companies. They prioritize a seamless user journey, making it effortless for individuals to create an account and get started. Curious to see these characteristics in action and learn how to implement them in your own company? Check out the link in the comments to see the full guide. I dive deep into each characteristic, providing practical examples of how these companies excel.

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When you're not in the board room, you're always wondering, "What's going on in there?". I have now worked with seven companies where I'd regularly present to a board, a mixture of PE and VC-led, and it's almost always centered around a few key topics. If you're meeting your numbers: - what's your future forecast  - how are you going to continue to grow - how will you grow faster and more efficient  - update on money in the bank and spend If you're not meeting your numbers (along with the things I mentioned above): - what is your plan to turn things around and meet your numbers (this includes new logo, back-to-base sales, and churn reduction) - what resources can they offer to help - do you have the right players in the right seat This is an oversimplification because many nuances are at play, but this is generally it. While board meetings can be stressful, almost every board I've worked with wants to be helpful. Of course, their interest is, first and foremost, that the business is healthy and growing, so there's always that undertone, but overall, they want to help. After all, they are guardians of the investments they make on behalf of others and have to report back on their performance. Think of them like they are CSMs for their investors (the folks that give them money). They need to get a great return on the investment they made on their behalf.

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FAQ: I've read your posts about losing your company, but, why was your VC funding such a bad deal? Ultimately when you die in business it's usually "death of a thousand papercuts". There isn't one thing, it's a combination and culmination of a lot of bad choices and decisions compounding over time. So here were some of mine.. 1) Bad VC Deal - I agreed to tranched funding, it also had debt repayments, plus extortionate funding costs so what I thought I was getting vs what turned up in my bank account...very different. I then had an exclusivity clause that outlasted the second tranche, so even if I wanted to, I couldn't raise from other sources without defaulting on the initial agreement. Lots of other small nasty clauses that didn't sound so much in reality but can get difficult to manage. 2) Bad VC Advice - Although we had been trading profitably with a lean team for 2 years, we were told by the VC they would not invest without an Operations Manager joining the business. We had never paid a £60k salary up to this point, we were also told explicitly not to wait until cash hit the bank. The funding was delayed, and delayed, and delayed so by the time the cash did hit, we had scaled our team but had stressed our cash flow too much. 3) Under-Resourced - We were running a national service, cars were arriving daily from Aberdeen to London. Our work was complicated, we would take a brand new Rolls Royce, strip it to its bare bones. I took my eye off the ball. The funding was supposed to be easy, but it wasn't, it was a rollercoaster and I didn't have the resource required to land it whilst running a demanding operational business. 4) Lack of Knowledge - To be honest, I had never really heard of VC funding before I engaged in the process. I had no previous experience in fundraising at all. I didnt know what was normal or not, the "team" I had around me were all provided by the VC. I have spent over 10,000 hours supporting funding rounds since my company went under. With the proper support and guidance, I believe I could have gone all the way Don't be like I was. Take your future into your own hands, get a team around you that has your interests at heart. #fundraising #founders #startup #angelinvestor #vc #pitchdeck #knowledgeshare #investment

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The notion SMB is dead is farfetched. For a fact, the Cledara data says otherwise. The COO, Brad Van of the SaaS buying management software Cledara took stage on SaasOpen to share insights that 3x their Qtr revenue. From the numbers they had to change their go-to-market after stagnating growth last year. First, whenever the market is tough we as marketers we tend to go upmarket. For all its intent and purpose, going upmarket needs to be informed from data. Here is what Brad shared that informed their next GTM: 1/ The small buyers constantly come back. While most are focused on the larger buyers, the small ones tend to come back more often ( renewals). Also, upselling/cross-selling is alive and well. Existing buyers spend 30% more than new buyers. 2/ Experiment with your packaging and pricing. Cledara added a free tier. They tested different CTAs And doubled down on conversions ' Get Started Free' worked 9x better than any other CTA. The outcome from this experiment... Cledara almost 3x revenue from one quarter to another. p.s: 🚦Repost to other marketers 📧 Get my weekly free newsletters 👆🏿 Follow me for more proven product marketing.

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Three Phrases Founders Need to Hear 💡 "No software company should raise a pre-seed." (Controversial but true for some) 💡 "A lifestyle business is thrown around like a derogatory term as if you are not a legitimate founder because you didn't take on funding." (Let's change this narrative) 💡 "The Mighty Middle" - A newly coined term for founders who are aggressively building, reaching profitability, and creating sustainable businesses without institutional capital. (Join the revolution) As an early-stage company (Openroom HQ), we're experimenting every single day to see what sticks and what doesn't. It doesn't make you less of a Founder just because you didn't take capital. The mindset of "go raise capital" and "growth at all costs" is starting to shift. It's not that founders need reassurance to continue building and solving hard problems. We will continue regardless! But, it definitely helps when people who have done it, seen it, and believe it too. It might be controversial but I loved this morning's debriefing. Thank you to Cherry Rose Tan, MBA, MA, Moshe Mikanovsky, Brice Scheschuk, CPA, CA and Schulich School of Business - York University's Schulich Startups for a memorable mentorship quarter and helping me see a better future of building my own company. ---- Repost this for your network ♻️ P.S. What's the most controversial advice you've heard recently?

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Someone broke down the estimated costs of a $15 Sweetgreen salad. We need these cost graphics for digital health to help future founders. Especially for tech enabled cos, the greatest cost is labor. Much of the "value created" is in curation and matching, which means the gross margins are reliant on labor arbitrage. Pay someone $X, but get paid $X+Y% per visit. The challenge with healthcare is that you often have to pick one of two business models: 1. specialized, low volume, high cost, low gross margin % 2. generalized, high volume, low cost, high gross margin % I'd argue founders should focus on gross dollars over the lifetime of the customer (like Jeff Bezos said) instead of gross margin %'s, but we'll leave that for another time. The challenge is that many tech enabled digital health cos have high cost of goods sold (labor) and moderately high product, design, and engineering budgets. We must build differentiated solutions for patients, clinicians, and clients to be out incumbents, however, we're realizing that companies are ultimately valued on the discounted value of future cash flows. And the high SG&A costs at most organizations might be inbalanced to the unit economics of the business. I'm not sure the math pencils out for everyone unfortunately. But I'm just a guy on the internet, would love to hear the thoughts from those smarter than I (you!). Comment below. --- p.s. I have no idea the accuracy of the graphic and not an investor in Sweetgreen. Cheers. Credit: David Crowther

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Founders/CEOs/COOs/CTOs: if you're seeing downtime, defects, and delays… and have been hearing that "we're fixing this internally" but haven't seen much progress… Bad news: You might NEVER see progress. You're in the "quality trap." Here's what's REALLY happening (and what to do about it): 1 - Your testing team is overloaded Maybe you have existing testers; maybe engineers are doing their own testing. No matter what: They are behind. And playing "catch up" in testing is insanely difficult. Almost impossible, unless you radically scale the team. (And even then, it's almost impossible to make fast progress. a.k.a. diminishing returns) 2 - Your engineering leadership doesn't want to allocate more budget to testing. They probably feel like investing in QA and testing is directly competitive to hiring more engineers and build more product. They feel like they're currently understaffed to meet the roadmap goals. AND they feel like bringing you additional budget requests for new testing ideas could be a big risk. What if you say, "Why should you get MORE budget if you're not effectively shipping good software with your existing budget?" When you're in the quality trap… the stress prevents you from making bold, necessary moves. – SO WHAT? YOU, Founder/CEO/COO/CTO, have to bring them new ideas; don't expect them to bring YOU new ideas. My biased recommendation is to look into AI-powered QA services, that can plug in and take a lot of the testing load off your team. If YOU suggest they look into this, and tell finance we need to budget for this, it will happen, and you'll escape the quality trap. If not, expect more of what you've been getting.

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How does a Senior Product Manager go from layoff to landing a Staff Product Manager role with a significant compensation increase? Join us as we chat with Nora Hughes, a seasoned product manager with a decade of experience in the tech industry. Nora shares her journey from being laid off in October to navigating the challenging job market. She talks about her initial struggles, including the overwhelm of job searching during the holidays, dealing with COVID-19, and the loneliness that came with it. Nora discusses how she discovered the Intentional Job Search (IJS) program and her thought process before joining. She highlights the program's structure and quality and how it helped her regain focus, prioritize effectively, and build confidence in her job search strategy. In this candid conversation, Nora also reveals her aha moments, including the value of peer interviews and the comprehensive support from the IJS community. She explains how the program's personalized coaching and strategic guidance were pivotal in helping her land a dream role as a Staff Product Manager in AI and ML at a large public company, achieving a significant pay raise and working alongside best-in-class professionals. If you're curious about how the IJS program can transform your job search and career trajectory, this video is a must-watch. Nora's story is a testament to the power of structured support and intentional effort in achieving career success. Key Moments in this Episode ======================== 00:00 - About Nora 01:00 - Challenges before IJS 02:45 - How Nora decided to join the program 07:30 - Nora's experience in IJS 17:30 - Negotiations 20:00 - Her message for you https://lnkd.in/eHEBAxpQ

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Did a fund raising workshop with a group of founders last week. Some of my messages were: 1/ Your job in that first mtg is to get the VC *emotionally* excited about you and your startup. It’s not enough to get them rationally excited. VCs are meeting 2-6 founders every day. Most of those founders are smart and driven. You’re competing for attention against all of them by the end of that day/week. Whoever creates emotional excitement won that first mtg. 2/ Be ready to sell the larger than life vision. Don't be shy about your ambition. Show the passion behind the vision and mission statement. Let the ambition come through. They're betting on you! 3/ Two things drive investor excitement in most early stage fundraises: “Why Me?” or “Why Now?” 4/ Be intentional about the entire process: pipeline of intros, which partner at which firm, who’s making the intros, the scheduling… everything. It’s an enterprise sales process. Don't be casual about any aspect of it. 5/ Be ready to manage your psyche thru the process: The No's come before the Yesses. The best No's can be an input to your thinking. But there are some people who will be dismissive of you or your idea - let those No's become fuel to your fire. 6/ Don't underestimate the importance of quality of partner. Will matter a lot in the end. Do backchannel references and ask pointed questions. 7/ Fund raising is hard. Company building is harder. BUT... people like you and me have done it before and will do it after us. Just remind yourself: "If not you, then who?"

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One of the things that worries me the most about 2021-era AI startups is precisely this: early-stage burn rate. Burn rate applies not only to dollar amounts but equity as well. Raises ultimately have to tie to revenue at the very least, so even if the first stage VC went starry-eyed, it doesn't mean the second stage will. I suppose it's just the Great Filter of AI, but here's to the prudent leaders!

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Our very own Sophie Hernandez is thrilled to represent Ordoro at Shopify’s Editions.dev conference. Ordoro’s journey with Shopify began way back in 2010. Fun fact: it was Harley Finkelstein himself that I talked to when launching our partnership! That’s how far back we go. ❤️ Obviously, things have evolved a lot since then, but Shopify is still a big part of Ordoro’s ecosystem. It's a top platform for our customers, and Shopify merchants love our shipping, inventory, and dropshipping apps. During those early days, Shopify did a great job with partner relationships. Blair Beckwith is a legend, and our awareness within the Shopify community is all due to his help when he ran the Shopify App Store. Now, the Shopify App Store has over 8,000 apps, and standing out is a challenge. We’ve been experimenting with App Store ads with mixed results. But that won’t deter us. We are continuing to grow our Shopify integration. 👉 “Product kitting” was the OG killer feature that attracted Shopify merchants to our inventory app. I can confidently say that we do kitting better than any other inventory app in the market. It took us three iterations to get it right, and it still drives many of our conversions. 👉 At the 2017 Shopify Unite conference, we discussed the then-new multi-location API with their dev team. Integrating this feature wasn't easy because, frankly, Ordoro’s multi-location feature was more mature than Shopify’s version. But we made it work and continued to update as Shopify’s multi-location model evolved. It’s now a popular feature among our Shopify customers. 👉 A few months ago, we launched a new multi-location mapping feature specifically for Shopify, and we are about to roll out another big upgrade to it. 👉 Recently, we launched an “order revisions” feature, which ensures any changes in Shopify orders are automatically reflected in the Ordoro UI. This is also very popular among our customers. 👉 Next month, we are releasing an update to our inventory app integration that works seamlessly with Shopify shipping. This will make inventory updates automatic when shipping labels are created in Shopify. This is another big step towards further opening up our inventory app. Integrating with platforms like Shopify is a key part of our strategy, and we definitely have an opinion about the APIs of every ecommerce platform around. Shopify gets an A grade for API quality. 🎉 Today was an exciting day, and we are going to explore “Built with Shopify,” new App Store features, and several other things to grow our share of Shopify merchants! #shopify #conference

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