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Speaker unverified: commitment

19 May 2022 Acquired Capital-Efficient Growth (with Zoom CEO Eric Yuan & Veeva CEO Peter Gassner)

“To those very loyal early adopters, even 100 is good enough. They were the early, I will say, most loyal users.”

— Speaker unverified

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Speaker
Speaker unverified
Attribution
Not verified from this transcript
Claim type
commitment
Recorded
19 May 2022
Publisher
Acquired

Transcript context

…One of the CEOs wrote in and asked us about different metrics to track. Did you have a north star? After you had those 50,000 people where you realized, okay, I'm holding something in my hand and the sand could slip through my fingers, but is there something I can measure to see if this 50,000 can turn into something? What were you paying attention to? To those very loyal early adopters, even 100 is good enough. They were the early, I will say, most loyal users. Double down to make sure they are happy. If they are very happy, guess what, network effects. They are going to bring a lot of new users. That's why even if 49,000 users left, as long as 100 still stayed, we would double on that. That's the strategy. Peter, on the hiring and people in the organizational front, you had a very, very different type of business. Your customers don't buy with credit cards. They buy multimillion-dollar deals, cash upfront in a year for a year deal. You need a Salesforce to sell that, which usually means you need a lot of cash comp to compensate that Salesforce. How did you think about the right people to hire as you were building and how to compensate them?…

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