Evidence receipt / evaluation
Published · transcript-backedTodd Jackson: evaluation
11 Apr 2024 Lenny's Podcast A framework for finding product-market fit | Todd Jackson (First Round Capital)
“If you're the kind of product that is 20K, 30K annual contracts, that was Looker, right? But they were able to do the sales cycle very repeatedly because they closed so often.”
Source trail
Everything needed to verify it.
- Speaker
- Todd Jackson
- Attribution
- Verified speaker
- Claim type
- evaluation
- Recorded
- 11 Apr 2024
- Publisher
- Lenny's Podcast
Transcript context
…Your sales cycles are really slow. Is there a sense of what slow means? Just a rough heuristic. What should it... Well, some sales cycles are slow. If you're selling to companies that are big, you're selling to government, that type of thing. I don't know. Rough rule of thumb is... There's different ACVs also. If you're the kind of product that is 20K, 30K annual contracts, that was Looker, right? But they were able to do the sales cycle very repeatedly because they closed so often. There are some contracts that are 100K, 200K, six figure contracts. Those can take a long time. Those can take three to six months. You can't basically be in the worst of both worlds where you've got a slow sales cycle and a low ACV. That is the quadrant of death basically. Awesome. Okay. And then the other sign is just you're not finding demand starting to come to you. You're not finding a channel to drive demand. And is a big part of this inbound? You're supposed to start seeing more inbound coming at you? Or is it more just sales becomes easier?…
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