This is a great blog post by a founder who just had a successful exit. His name is Akshat Thirani and the company he built and recently sold is called Amper. Some of our favorite learnings Akshat shared are below:
“The first two to three years were about finding signal.” This is also called finding product-market fit. Notably this requires spending a lot of time with your potential end customer. Akshat and his co-founders showed up to 50+ factories and talking to the people who faced the daily pressures of running operations.”
The next phase is about execution. Once you’ve found signal, scaling the business becomes the focus. This requires a shift in the entire business. “Going from 0 → 1 is very different from scaling a business, and operational rigor became everything. The physics of CAC and ACV started to define how we grew.” It’s not enough to have a great product with product-market fit. Actually getting into customer’s hands requires a repeatable sales motion and the ability to build out a team.
Focus on the customer. This sounds obvious, but in practice it’s easy to get distracted or worse yet focus on what you think the product should be, not necessarily what the customer’s use case is. Our favorite quote from Akshat on this topic: “Revenue is a scoreboard, not the game. It’s a lagging indicator of value capture. When we focused obsessively on creating customer impact.”
The whole blog is well worth the read and big thanks to Akshat for putting it out.
Thank you for your readership. See more blogs and SaaS data at blossomstreetventures.com. Email the author at sammy@blossomstreetventures.com.
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