The pros and cons of transitioning from a service to a product company

It’s a common trend in the software world today: service-based consulting companies transitioning to subscription-based SaaS product companies. Sometimes founders realize that they’re essentially solving the same problem over and over again for their customers and decide to capitalize on that demand by creating a product solution. Other times, founders have a SaaS product in mind from the start, but decide to fund the building and scaling of the product by generating a steady stream of substantial income from consulting.

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Startup founder and recruiter-in-chief: Top 3 takeaways

Over the past weeks, we’ve discussed the steps involved in recruiting and hiring key employees for a startup. In the first three posts, I walked readers through the processes I followed when I made the all-important first two hires for my startup RecruitLoop. The first post focused on how to find potential candidates. The second post detailed our process for selecting the best candidates. The third post discussed the often-overlooked details of what happens after you decide on a candidate: negotiating an offer, hiring, and on-boarding. In this final post, I sum up my top three lessons learned.

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From service to product company: hear from the experts on how to do it successfully

Our team just got back from Dreamforce 15 in San Francisco. At the conference, our CEO BJ Lackland participated in a session with Jason Lemkin and Aaron Ross. Jason is the Partner of Storm Ventures, and founder of SaaStr. Aaron Ross is the author and Co-Founder of Predictable Revenue. Their discussion focused around funding and scaling SaaS businesses, and how to successfully transition from a service company to a product company.

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Entrepreneurs fess up: the key reason why their promising startup crashed

A few months ago, we published a post on five reasons why startups fail. People don’t like to talk about it, but startups, or early stage technology businesses are risky. Statistically, 9 out of 10 startups fail.

Of course, it is hard to pinpoint one specific reason or event that causes the failure, but recently we found CBInsights’ roundup of startup post-mortems very revealing. Plus, it’s always good to hear it directly from the entrepreneurs.

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Startup founder and recruiter-in-chief: converting candidates to employees

In my last post, I discussed the screening and interview process we went through at RecruitLoop. We had identified not one but two great candidates. We assumed the hard work was done. Negotiating the offers should be the easy part, right?



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Founder compensation: how much should you pay yourself?

Seattle entrepreneur Dan Price from Gravity Payments made headlines a few months ago when he announced that his employees would make $70,000 a year as minimum wage. In order to pay for this company-wide salary increase, he also slashed his own wage from $1M a year to $70,000.

While his decision seemed bold and admirable at the time, just a few months later his company is struggling and his decision to make this salary change has gotten a lot of criticism and backlash. All of which begs the question: if you're running a company (especially if the company is still in the early stages), how much should you pay yourself?

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Startup founder and recruiter-in-chief: separating the wheat from the chaff

This is the second in a series of four blog posts in which I share the steps and processes we followed when making the all-important first two hires at RecruitLoop. In the first post, I focused on how we identified candidates. Here I discuss strategies for the screening and interviewing process.

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How to attract potential buyers for your startup

It’s a question on the mind of many entrepreneurs. Namely, ‘how can I make my business attractive to potential acquirers?'

People start businesses for lots of reasons. Many don’t even consider their exit strategy initially, although this is something they should give thought to from day one. Since most exits are through acquisition, it makes sense to keep that possibility in mind and make sure that in the course of building your business, you avoid obvious moves that would discourage potential buyers.

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Startup founder and recruiter-in-chief: 5 steps for attracting talent

Virtually every startup founder struggles to find the best talent for their company. And it’s a critical task for taking your company to the next level. At the early stages of every startup, people are your most valuable assets.

In building the team at RecruitLoop, I’ve grappled with this same process myself.

Over a two-month period back in 2013, I devoted most of my time to making our two first key hires. Through this process, I learned a lot about valuable strategies for recruiting potential talent, best practices for interviewing candidates, the challenges of hiring and onboarding once you find someone, and the time required to execute it all.Read more

Hear it from the experts: Building a world-class SaaS sales team

On Thursday, June 25, Jason Lemkin, Managing Director at Storm Ventures, and Aaron Ross, author of Predictable Revenue, joined our CEO BJ Lackland for a live Q&A about start-up growth, sales, and funding.

We’ve taken their 45 minute discussion and pulled some some questions and answers you might find interesting useful if you're scaling your sales team. Enjoy!

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