That made us wonder if doubling the size was a weak
Jan 3, 2024 6:36:59 GMT
Post by account_disabled on Jan 3, 2024 6:36:59 GMT
Goal and if we should reconsider. We needed to sit down, analyze and create a plan to accelerate a little more. Did we need money to grow? Seeing the results above the project, but on the other hand a little concerned with the costs that would arise with the increase of the goal (hire more sellers, accelerate lead generation, invest more in Customer Success), we began to think if we should capture a round of venture capital or do a bridge round to accelerate a little more. We had a very low burn rate and better numbers than we had planned, but on the other hand we needed to have a small break in capital, in case the acceleration plan worked or we made a mistake.
We decided to speed up. We spoke with our investors and quickly closed Special Data a bride round of approximately R$3 million. We recalibrated the goal to grow 2.5x instead of just 2X. Tight! From that moment on, we were chasing R$20 million ARR, and not just R$16 million! Splitting a company into 4 The year had already started with our partner and VP of Sales Matt Doyon wanting to hire even faster. He had done a great job in the previous year and had quadrupled the sales team, but the guy was constantly on top of wanting to hire more. However, if in the previous plan we were delivering more than the goal, now with the bridge round closed, the time had come to take risks, since we were not so clear about where we would get the R$4 million in additional ARR necessary to beat the new goal.
We needed to go much faster. There was a lack of salespeople, Customer Success professionals, Support, Community and Operations. To make matters worse, in addition to being lacking, we didn't know where to put these professionals to maximize results. From there arose the need to thoroughly understand the growth levers of our business and the economic units of each customer segment. Therefore, the challenge for Q2 (second quarter) of 2016 changed to: Accelerate sales, improving our customer retention rate. To achieve that, we had to analyze our business in a segmented way to understand its growth levers in each customer group.
We decided to speed up. We spoke with our investors and quickly closed Special Data a bride round of approximately R$3 million. We recalibrated the goal to grow 2.5x instead of just 2X. Tight! From that moment on, we were chasing R$20 million ARR, and not just R$16 million! Splitting a company into 4 The year had already started with our partner and VP of Sales Matt Doyon wanting to hire even faster. He had done a great job in the previous year and had quadrupled the sales team, but the guy was constantly on top of wanting to hire more. However, if in the previous plan we were delivering more than the goal, now with the bridge round closed, the time had come to take risks, since we were not so clear about where we would get the R$4 million in additional ARR necessary to beat the new goal.
We needed to go much faster. There was a lack of salespeople, Customer Success professionals, Support, Community and Operations. To make matters worse, in addition to being lacking, we didn't know where to put these professionals to maximize results. From there arose the need to thoroughly understand the growth levers of our business and the economic units of each customer segment. Therefore, the challenge for Q2 (second quarter) of 2016 changed to: Accelerate sales, improving our customer retention rate. To achieve that, we had to analyze our business in a segmented way to understand its growth levers in each customer group.