Lessons learned from the SaaStr talk by Jack Altman 'From $5M to $100M: Founder's Secrets to Scaling a Multi-Product Startup with Lattice's CEO'

They’ve built 4 products over 8 years of existence.

Going Multi Product is one of the best ways for startups to compete and expand their market.

The way to figure out what to build is to understand your customer's workflows. Jack said "Think about the user journey, what else exists chronologically in their day? What else do they need? Walk through that journey."

That thinking should guide your roadmap and will lead to a much more holistic solution for your customers.

👉 Taking it to market, the GTM logistics:

1️⃣ Build go-to-market teams for new products:
- Set up ARR goals and targets
- Who's going to do the selling? Are you going to have new sellers? Or are you going to have your current AEs do the selling?
- Prepare to train sales and marketing about the new product
- Is it the exact same buyer? Or different personas?

2️⃣ Make customers successful:
- Make a plan for implementation - that new product will need its own implementation playbook to help customers adopt it.
- Incentivize the team to drive new product adoption - train them on the new product and make sure you allocate resources to drive that adoption.
- Land and iterate - continue to invest and improve the product for customers.

3️⃣ Marketing:
- Evolve your story and brand. Jack said "the biggest learning we've had is that it's hard to evolve your brand and story to customers. It took us a long time after launching new products to get customers to know that we had those new products. We thought we were beating the drum on it, but we learned that even years after our second product launched people still thought we only did one thing"
- Create a marketing momentum around the new product
- Do product marketing to make sure your customers know your new story

4️⃣ Distribution to existing customers
- Cross selling and bundling is much more effective for the company. It's cheaper to do, it drives better retention, so you want that to be happening.
- But it is easier for everybody in your org to not do the new thing. They know how to do the old things and sell the first product, they know how to talk about it, so you have to find ways to design incentives so that individuals want to make it happen.

❓ Question I asked Jack:
How do you think about pricing when you have different products? Do you bundle them together? Or is every product an entry point to the funnel and then you expand there?

His answer was: 
"Yeah, there's different entry points. Then for bundling the overall mindset is to be slightly cheaper than what the combo of products would be in the market. If you have 3 products, and those were $10 each out in the market, I would try to land at a place where if we offer all three it should be $22, not $30. A customer has a lower cost of ownership for bundling."

수퍼스타 가수가 보컬학원에 등록해서 일주일에 세번을 레슨을 받고 컴퓨터 작곡을 새롭게 배운다는 이야기는 놀라운 이야기이네요. 존경스럽네요. 저도 본받아야 할 태도이어요.

인생은 긴 여정이니까요.

사업도 장거리 경주니까요.
제법 커진 회사 CEO들, 심지어 코스닥 상장한 CEO들도 지금 부족한걸 인정하고 다시 배우려고 학원을 등록하는 자세가 더 성장하게 만들고 더 오래 멀리가게 만들거라 봐요.

어쩌다 큰 회사가 되어 얼떨결에 훌륭한 경영자인척하지만 사실은 뭐가뭔지 아직도 헤메는데 이야기는 못하고 있는 분들이 많은데 이효리의 솔직한 이야기를 주목하면 좋겠어요.

"강남역에서 알바를 하는 도중 우연히 캐스팅돼 한달만에 핑클로 데뷔해고, 그 길로 곧바로 슈퍼스타가 됐던 이효리. 남들처럼 연습생 시절도 거치지 않았던 이효리는 늘 속으로 '내가 노래 연습을 더 해야 한다'라고 생각했다고.."

나도 다시 시작해야겠다.

Oh it is not about dangerous news but there are many great AI startups and builder, which will be the AI hub in few years.

All in conference

- 중국, 한국, 대만 등 생산 시설을 위탁한 게 지금의 미국 경제에겐 고민인 상황. 미국으로 돌아오라고 하기에도 기업들의 글로벌 경쟁력을 고민해야함. 그와중에 중국 기업들은 자국의 생산 능력을 바탕으로 미국 시장을 적극 타겟중(SHEIN, TEMU).

- 미국의 정치도 세대교체가 이루어지지 않고 있음. Social Media가 신입 정치인이 빠르게 성장할 수 있는 발판을 마련해줄 수 있기 때문에 Social Media x AI가 다음 대선에서 주요 전략으로 자리잡지 않을까? -> 나이 많은 사람들이 나라를 운영하는게 맞는거냐에 대한 고민은 미국도 동일하게 가지고 있음. Btw I think that leaders in politics should be on many front line not only for just media but also industry, scholars and many.

- Compounding interest for reputation. If you are incumbent president, you have huge advantage for being a new president as people know you.

- Being a president is as hard as making a great company.

https://youtu.be/rid9NMSeqXQ

1. Nixon Shock (1971):
- Effect on Dollar Exchange Rate: The Nixon Shock ended the gold standard, which meant the US dollar was no longer pegged to a fixed amount of gold. This allowed for a flexible exchange rate, which initially resulted in a devaluation of the dollar.
2. First Oil Shock (1973):
- Effect on Dollar Exchange Rate: The oil shock in 1973 caused upward pressure on the dollar because oil transactions were mainly denominated in US dollars. This increased the demand for the dollar.
- Effect on Inflation Rate: The oil shock contributed to a significant rise in the prices of oil and gas, a primary driver for increased inflation during this period as higher oil prices led to increased costs for manufacturing and transportation.
- Effect on GDP: The US GDP was negatively affected as the increased costs and inflation led to reduced consumer spending and business investments, slowing economic growth.
3. Rapid Stagflation in the US (1970s):
- Following the first oil shock, the US experienced a period of stagflation characterized by high inflation and slow economic growth. This was partly caused by oil price shocks and monetary policies that were not equipped to deal with simultaneous inflation and unemployment issues.
4. **Second Oil Shock (1979-1982):**
- Impact on Dollar Exchange Rate: This event saw a drastic increase in oil prices, leading to an increased demand for dollars (as oil was priced in dollars), thus appreciating its value.
- Impact on Economy: The shock significantly contributed to inflation and economic instability, leading to a period of stagflation in the U.S.
5. **Paul Volcker's Approach to Stagflation:(1979-1981)**
- Pros: The strategy curtailed inflation effectively.
- Cons: It led to a recession and high unemployment rates.
- Effectiveness: It was deemed effective as it managed to bring down inflation, setting the stage for economic growth in the later part of the 1980s.
- Impact on Carter and Reagan Administration: This policy initially had adverse effects on the Carter administration, contributing to Jimmy Carter losing the 1980 election. Under the Reagan administration, the policy eventually fostered a favorable economic environment, facilitating economic recovery and growth.
6. **U.S. Manufacturing Industry and Unemployment Crushed (early 1980s):**
1. Impact: The high interest rates contributed to the recession, impacting manufacturing industries significantly and causing a rise in unemployment.
7. **Japan Reaps the Rewards of a Stronger Dollar (early 1980s):**
1. Japan benefited from the strong dollar as it made Japanese exports cheaper, leading to a trade surplus and economic growth in Japan.
8. **U.S.-led Plaza Accords (1985):**
1. This agreement was aimed at depreciating the U.S. dollar relative to the Japanese yen and German mark to correct trade imbalances.
2. This led to a correction of trade imbalances, but also contributed to economic issues in Japan later on.
1. Germany and Japan were facing pressure due to their trade surpluses, particularly with the U.S., and sought to reduce these imbalances and ease international tensions.

2. The Plaza Accord was not solely advantageous to the U.S. compared to Germany and Japan. While it did help the U.S. in the short term, it did not fully resolve the trade deficit issue**[5](https://www.bakerinstitute.org/event/currency-policy-then-and-now-30th-anniversary-plaza-accord)**. Germany experienced a recovery and rapid growth after the Plaza Accord, thanks to various factors such as fiscal and monetary policies, government policies in the housing market, and investment in research**[4](https://www.nber.org/system/files/working_papers/w21813/w21813.pdf)**. Japan, however, faced an asset bubble and economic stagnation, known as the "Lost Decade," partly due to the Plaza Accord's impact on the yen's appreciation**[2](https://www.investopedia.com/terms/p/plaza-accord.asp)**. The agreement was not the sole cause of Japan's economic struggles, as other factors like misguided government policies and a credit crunch also played a role**[3](https://www.investopedia.com/articles/forex/09/plaza-accord.asp)**.
9. **Japanese Government Revitalized the Real Estate Market (late 1980s):**
1. In response to the economic slowdown, the Japanese government initiated policies to stimulate the real estate and stock markets, leading to a bubble economy.
10. **Japan's Economic Revival Centered on Real Estate and Stocks (late 1980s-early 1990s):**
1. This period witnessed an economic revival in Japan driven by a booming real estate and stock market, which however culminated in a severe economic downturn when the bubble burst in the early 1990s.

Insightful Takeaways from the All-In Summit with Ro Khanna
https://lnkd.in/g-4PZR6W

In an era of mounting global tensions and swift technological advances, understanding the nuances of the evolving global supply chain dynamics and the political landscape becomes a necessity. Congressman Ro Khanna, in the recent All-In Summit, underscored several pivotal points that merit deep consideration, especially in the realms of international relations and political reform.

1. Global Supply Chain Dynamics: A Shift Towards the New Normal
With the escalating tensions between the US and China, a significant paradigm shift is noticeable in the global supply chains. American companies are progressively relocating from China to other nations, a move that warrants a thorough revaluation of the existing supply chain models. As we stand at this juncture, the focus should not only be on adapting to the change but also on identifying and fulfilling the emergent unmet needs.

History stands as a testament to consumer's preference for affordability coupled with quality. The American market has demonstrated a significant inclination towards products offering value for money, a trend evidenced by the widespread preference for Japanese cars in the 1980s and the current fondness for affordable products from SHEIN and Temu. As we navigate this shift, it becomes imperative to explore innovative solutions that can strike a balance between quality and cost, fostering a symbiotic relationship between producers and consumers.

2.Political Landscape: A Call for Revitalization

The political landscape too is undergoing a radical transformation. Traditionally, incumbents enjoyed a distinct advantage, a phenomenon facilitated by the familiarity and trust associated with established figures. However, we are witnessing a shift, with social media platforms like TikTok and YouTube providing a fertile ground for newcomers to cultivate a robust following. This change comes with a hint of unpredictability, possibly acting as a curveball in the political arena.

It is worth noting that the younger demographic, particularly those aged between 18-29, has had a historically lower voter turnout (51.4%) compared to the older demographic (76% among those aged 65 and above, as per the last US presidential election data). This discrepancy presents an opportunity; an opportunity to galvanize the younger population, fostering a political landscape that is more representative and inclusive.

The upcoming US presidential campaigns promise to be a riveting display of strategic ingenuity, possibly resembling a fierce competition between tech giants. It beckons the aspirants to craft sharp, swift strategies characterized by impeccable execution. The goal should be to foster an environment where numerous trials can be conducted to identify strategies with a promising Product-Market Fit (PMF), facilitating the scaling of effective strategies nationwide.

Q: How do you drive change in company meetings?

Legendary VC
@bgurley
dropped this on a
@tferriss
podcast, talking about how Shopify's
@tobi
makes decisions:

"Whenever we're dealing with a problem and we call a meeting to talk about the problem, I always start with this structure: 'We are here to solve a problem. So the one option that we know we're not going to leave the room doing is the status quo. The status quo is off the table.'"

Bill thought it was genius.

I like it: it prioritises action and reduces inertia.

Often meetings come to an end on the hour, and nothing's resolved. Did we just waste an hour?

Instead of saying, "Let's take this offline," you go: "No, we don't come out of this until it's solved."

It's probably easier for more senior people to enforce this.

https://x.com/nurijanian/status/1699968607021863248?s=20

Among the new offerings will be a Solar API, which could be used by solar installers like SunRun and Tesla Energy and solar design companies like Aurora Solar, according to a list of example customers viewed by CNBC. Google also sees customer opportunities with real estate companies like Zillow, Redfin, hospitality companies like Marriott Bonvoy, and utilities like PG&E.
Some of the data from the Solar API will come from a consumer-focused pilot called Project Sunroof, a solar savings calculator that originally launched in 2015. The program allows users to enter their address and to receive estimated solar costs such as electric bill savings and the size of the solar installation they’ll need. It also offers 3D modeling of the roofs of buildings and nearby trees based on Google Maps data. 
Google plans to sell API access to individual building data, as well as aggregated data for all buildings in a particular city or county, one document states. The company says it has data for over 350 million buildings, according to documents, up significantly from the 60 million buildings it cited for Project Sunroof in 2017.
One internal document estimates the company’s solar APIs will generate revenue between $90 and $100 million in the first year after launch. There’s also a potential to connect with Google Cloud products down the line, documents state.

https://www.cnbc.com/2023/08/28/google-to-sell-maps-data-to-companies-building-solar-products.html

New York-based Intenseye uses artificial intelligence to analyze images and surveillance videos to identify safety issues in the workplace for major customers like Coca-Cola and British textile conglomerate Coats.GETTY
The workplace AI software company is expected to roughly triple its valuation in the Series B funding round, multiple sources told Forbes.

Buzzy AI startup Intenseye is raising new funding that is expected to triple the company’s valuation, Forbes has learned. Venture capital firm Lightspeed Venture Partners is leading the Series B, multiple sources tell Forbes, which will value the workplace safety AI company at approximately $300 million.

Five-year-old Intenseye, which uses artificial intelligence to analyze workplace images and videos to identify safety issues, drew so much interest amid an investor frenzy for AI companies that the deal came together in just a matter of days, a source with knowledge of the process said. Lightspeed ended up the preferred term sheet, five sources told Forbes. Intenseye is raising $65 million in the funding round, according to a source with knowledge of the negotiation.

Launched in Istanbul in 2018 by cofounders Sercan Esen and Serhat Cillidag, who previously worked together as AI engineers for Sony at its Turkey office, Intenseye’s software connects to a workplace’s existing surveillance cameras, then uses machine learning to scan the resulting images and videos for unsafe behavior or hazards. (Customers can run Intenseye’s tools on the cloud or on their own servers, according to its site.) Its technology can identify issues with worker body posture, danger zone violations and whether a worker is wearing appropriate protective gear.

Intenseye had previously announced a $25 million Series A funding round led by Insight Partners in 2021. That round, which included existing investors Air Street Capital and Point Nine, valued the company at just under $100 million at the time, according to PitchBook data. Insight and Air Street declined to comment. Point Nine didn’t respond to a comment request.

Intenseye said in an April press release that its AI models were trained on “a dataset of 22 billion images collected from 25 countries,” adding that it only tracked “actions” and “protects the identities of individuals” by blurring faces, among other measures. “We have assumed responsibility for designing AI ethically and deploying it responsibly to promote psychological safety in the workplaces,” Gökhan Yildiz, Intenseye's head of business development, said then.

Within AI, the firm’s deals have varied widely. Last month, Lightspeed announced a $50 million funding round into online gaming startup Inworld.AI, a few weeks after spearheading a much smaller $2 million AI-related investment into business process outsourcing firm Gushworks. Other notable AI investments include People.ai and Snorkel.ai.

https://www.forbes.com/sites/davidjeans/2023/08/28/lightspeed-intenseye-ai/