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Jason M. Lemkin 🦄 @jasonlk
, 6 tweets, 1 min read Read on Twitter
SaaStr is 6 years old. 20m views a year.

SaaStr Inc. is 2 years old. Hopefully $20m in revenue next year.

A little like open source -> company around it.
First time bootstrapping. Lesson #1: you underhire.
Lesson #2: it always takes 5 years until you really have something
Lesson #3: journey > product. You may sell many products over your career.
Lesson #4: Many people won’t get it, even for a very long time. Focus on those that do.
Lesson #5: All revenue recurs if you take care of your superfans and early adopters. Even without any contract at all. Let alone a multiyear one.
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Young Me, 2011: $100m ARR seems very far from $10m ARR

Old Me, 2017: But it Compounds. In 2018, that same business will be $140m ARR. Possibly much more.

Young Me, 2011: But what if we can't IPO?

Old Me, 2017: You can sell to PE, or do a secondary sale. Don't worry.
Young Me, 2011: I don't really want to do another round. That will be 3 VCs on my board.

Old Me, 2017: Just hold out a bit to $15m ARR. Raise at $200m, don't give up a board seat.
Young Me 2011: The competition just raised $50m+. They will outspend us.

OId Me 2017: That is stressful. But even if they do, it compounds. You will still get to $100m+ ARR by 2016 at the latest.
Read 5 tweets
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The simplest way to sell more, for a customer from $500-$50,000:

Sell faster.

- Simplify your contract
- Get the contract out within 15 minutes of the call
- Don't create review in legal
- Make pricing simple & fair
- Don't force someone to talk to a BDR if they don't want to
- remove all objections
- train your team on the competition
- allow trials, pilots, whatever makes it better
- don't "break up" with prospects. help them
- don't play games with discounting
- make switching from another vendor seamless
- don't force multiyear contracts
- don't create sucker-autorenew terms. if they forget to autorenew, let them cancel later.
- allow customers to downgrade effortlessly.
- tell them thank you for closing this month, it is a favor. earn it, don't push it.
Read 4 tweets
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The term "the bite size is too small" is confusing to process as a founder -- I didn't get it myself

But I no longer do smaller investments:

1. It means taking on an obligation to help for 10+ years

2. Most investors don't actually help, puts more burden on those that do
3. "You can just help us build our sales and marketing team" is still a pretty big obligation

4. Founders get frustrated later if you don't help enough

5. Creates confusing signaling for later rounds. Am I on the hook for the next round, even partially?
6. What happens when the company does OK but not great? Other investors check out. You can't.

7. No real way down the road to say "my time to help was the earlier days". Only way is if company is rocket ship.

8. In the end, better to just be a fan and a friend.
Read 3 tweets

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First time in a decade: UN to debate condemnation of #Cuba's human rights abuses, in 8 amendments presented by USA. Here are the 8 reasons why Cuban human rights activists love @NikkiHaley:

1. "Expressing serious concern over Cuba's complete absence of judicial independence..."
2. "Expressing serious concern that in Cuba the absence of women from the most
powerful decision-making bodies severely undermines the [UN's declared goal] to achieve gender equality and empower all women and girls by countering deeply rooted gender-based discrimination..."
3. "Expressing serious concern that in Cuba [there is a] trade union monopoly of the
Central Union of Cuban Workers, a prohibition on the right to strike, restrictions on collective bargaining and agreements..."
Read 10 tweets
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As we go into tomorrows budget policy statement, it is useful to reflect on a #UN report which warns against the dangers of #austerity in South Africa.
A thread on the #MTBPS:

#UN report👇
tbinternet.ohchr.org/_layouts/treat…

@SECTION27news @Zwelinzima1 @GiladIsaacs @social_rights
Following its first review of SA, the UN Committee on Economic, Social and Cultural Rights has called on the government to review its fiscal policies in order for the country to meet its human rights obligations and achieve greater levels of economic redistribution.
Citing “unacceptably high levels of ...inequalities” persisting since apartheid,the Comm said inadequate “personal &corporate income taxes, capital gains &transaction taxes, inheritance tax, &property tax, dont enable [SA]to mobilize the resources required to reduce inequalities”
Read 14 tweets
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#Khashoggi Case Thread: I am going to ‘pin’ this post to use it as an ‘Info Thread’ on the #Khashoggi Case. I am in #Turkey. I’ve been following the case closely and with access to sources & experts here. This is a very ‘sensitive’ criminal case due to ‘Diplomatic Booby Traps’!!!
The Evidence Obtained Outside Cameras will not show any evidence of ‘tempering’ but other than license plates of dozens of diplomatic cars (Many with tinted windows-large trunks) with related time stamp, drivers Info, model/year: Nothing.
#Turkish Intel-Investigative Bodies also have the list of all Diplomatic & Private Saudi & “other significant’ Planes in #Turkey for the period of ‘interest.’ Many of the Target airports have their own security cameras & related evidence.
Read 335 tweets
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PRACTICE: Game Design in Detail is starting at the @NYUGameCenter with some opening comments by @flantz! I’ll be live-tweeting a bunch of talks on game design over the next couple days. Feel free to mute #Practice2018 if you’d rather opt out?
First up, social psychologist Daniel Ames of the Columbia biz school on roleplaying exercises for learning how to negotiate #Practice2018
Starting with a few examples of negotiation both simple and complex: two siblings trying to split an orange, pressure from a mother to a daughter to obey tradition at her wedding, an indie developer making an offer to a collaborator #Practice2018
Read 211 tweets
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So I was asked what kind of research can be done to help #BanDigitalElections and I was able to list out some investigation agendas. These agendas (and maybe some more) EVM investigation angles have been on my mind, and I follow them now and then, but just chaotically.
So I shall list out EVM research points here, so that anyone who wants to investigate & put up the fight to #BanDigitalElections can do so. Few persons or orgs may or may not be able to save country. Whole country must save itself. Many heads better than one! Release the Kraken!
1) Establish your case how there can be no election integrity,no genuine elections, unless elections are free & fair, transparent & accountable to all stakeholders including layman citizens. There are reputed international democracy promoting orgs, treaties, publications on this.
Read 106 tweets
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THREAD: Ready to get mindblown by #Bitcoin #CORE implementations and progress?

Volunteers around the world gather and cumulate tons of hours from the best minds on this planet about the topic. This is a gift, an invention made to humanity.
Forget about 2nd layer, it's already and way too mainstream as I recently stated.

Yet, welcome now to the "in between layers": "The new layer can be seen as a channel factory"

bitcoinmagazine.com/articles/new-s…
Now Smart contracts.

You tought #Bitcoin was dumb? First and foremost, you were wrong because $BTC has smart contracts *since the inception*: multisign and lately get timelocks (led to LN).

If you didn't know that, admit you're never really been interested in Bitcoin or lured?
Read 35 tweets

Trending hashtags

#Corruption #FSA #UN #ceritanyagalau #China #Trumps #MBS #GamalielOnosode #MBD #First #إدلب #NBC #SuudiBaharı #Merkel #Derry #OSINT #AEI #DecadeofConcern #Taiwan #Galway #Gulen #Corrupt #release #NewYorkCity #UL

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