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Lenny's Podcast / episode intelligence

10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell)

19 Feb 2023 23 published claims 2 attributable people

Speakers in the public record

Claim mix

belief 7evaluation 5recommendation 4uncertainty 4commitment 1prediction 1preference 1

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Every row below preserves an exact excerpt. Identified speakers are linked; unresolved voices are labeled and excluded from people counts.

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The useful parts, with receipts.

23 published records

02 / belief

I appreciate that. And it's actually cool because I think for us, because the fact that product teams don't really think about this stuff, we stumbled into this whole thesis that could be a whole episode, which is all the product features are done for you.

“I appreciate that. And it's actually cool because I think for us, because the fact that product teams don't really think about this stuff, we stumbled into this whole thesis that could be a whole episode, which is all the product features are done for you.”
Publisher
Lenny's Podcast

05 / belief

I don't care if you're a marketer or a product person, engineer, ops person, people ops, real professional ship, and they ship at a pretty high frequency for whatever they're doing. In my opinion, your tempo framework is more important than your org design.

“I don't care if you're a marketer or a product person, engineer, ops person, people ops, real professional ship, and they ship at a pretty high frequency for whatever they're doing. In my opinion, your tempo framework is more important than your org design.”
Publisher
Lenny's Podcast

06 / uncertainty

You go up market and you pretty much become a data product with a UI or you go super niche. And even super niche, it's super hard and it's just because, I don't know, everyone's trying to kill a spreadsheet, and it's like, "You're not going to kill a spreadsheet.

“You go up market and you pretty much become a data product with a UI or you go super niche. And even super niche, it's super hard and it's just because, I don't know, everyone's trying to kill a spreadsheet, and it's like, "You're not going to kill a spreadsheet.”
Publisher
Lenny's Podcast

07 / belief

Just to give you a tease, I'll tell you what I think of Snowden after the podcast. So the world doesn't get to know except that I'll tell you what my opinion is afterwards.

“Just to give you a tease, I'll tell you what I think of Snowden after the podcast. So the world doesn't get to know except that I'll tell you what my opinion is afterwards.”
Publisher
Lenny's Podcast

08 / belief

I think the other reason typically people haven't had to do this is because there's a lot of brute forcing that's done in startup land and it only lasts so long.

“I think the other reason typically people haven't had to do this is because there's a lot of brute forcing that's done in startup land and it only lasts so long.”
Publisher
Lenny's Podcast

09 / uncertainty

I think that alone is a really interesting story, and I don't know if we should get too deep, but just to highlight what you just said, so many startups build an analytics product that it's just a better way to measure and track all the stuff that's going on.

“I think that alone is a really interesting story, and I don't know if we should get too deep, but just to highlight what you just said, so many startups build an analytics product that it's just a better way to measure and track all the stuff that's going on.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast

10 / belief

I don't care what if you're a marketer or product person, engineer, ops person, people ops, real professional ship, and they ship it a pretty high frequency for whatever they're doing. And so the thing that we thought a lot about is, in my opinion, your tempo framework, and I'll explain a little bit more of what that means in a second, is more important than your org design.

“I don't care what if you're a marketer or product person, engineer, ops person, people ops, real professional ship, and they ship it a pretty high frequency for whatever they're doing. And so the thing that we thought a lot about is, in my opinion, your tempo framework, and I'll explain a little bit more of what that means in a second, is more important than your org design.”
Publisher
Lenny's Podcast

11 / belief

You 20%, come talk to me, I've got a whole framework for you," that type of a thing because I think people just nod their heads and they tweet it, and they just don't end up doing it.

“You 20%, come talk to me, I've got a whole framework for you," that type of a thing because I think people just nod their heads and they tweet it, and they just don't end up doing it.”
Publisher
Lenny's Podcast

12 / uncertainty

We're onto our eighth topic, we've got three to go, and it's on competitive intelligence. And this touches on a really interesting part of your background that I don't know a lot of people know.

“We're onto our eighth topic, we've got three to go, and it's on competitive intelligence. And this touches on a really interesting part of your background that I don't know a lot of people know.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast

14 / evaluation

I really like that very concrete stat you shared and that's exactly how we think about it, that if you don't think you can get to a billion dollars in revenue a year eventually that it probably is not a venture-scale business.

“I really like that very concrete stat you shared and that's exactly how we think about it, that if you don't think you can get to a billion dollars in revenue a year eventually that it probably is not a venture-scale business.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast

15 / evaluation

This was actually a big mistake because we got hooked on the efficiency and that was great, but we could have moved even quicker than we were. And hindsight is 20/20, and I'm obviously not crying over this, but it's one of those things that I think that you have to know who you are and you have to know what your goals are for a company.

“This was actually a big mistake because we got hooked on the efficiency and that was great, but we could have moved even quicker than we were. And hindsight is 20/20, and I'm obviously not crying over this, but it's one of those things that I think that you have to know who you are and you have to know what your goals are for a company.”
Publisher
Lenny's Podcast

16 / prediction

All these things are better. And the thing that, I think, 20 years ago or 10 years ago you didn't have to do customer development because, and this is where Keith [inaudible 00:42:30] is just like customer research is dumb or whatever his famous quote is, but you didn't have to do it because there just wasn't a lot of stuff out there and we all were riding the wave of the internet.

“All these things are better. And the thing that, I think, 20 years ago or 10 years ago you didn't have to do customer development because, and this is where Keith [inaudible 00:42:30] is just like customer research is dumb or whatever his famous quote is, but you didn't have to do it because there just wasn't a lot of stuff out there and we all were riding the wave of the internet.”
Publisher
Lenny's Podcast

17 / evaluation

" And I think in tech we had the opportunity to do that, but we haven't really focused on our team as much. So I don't know if I answered your question, but that's the scope of that problem I think, is we don't actually focus on our team, we don't actually focus on our team in the context of the mission.

“" And I think in tech we had the opportunity to do that, but we haven't really focused on our team as much. So I don't know if I answered your question, but that's the scope of that problem I think, is we don't actually focus on our team, we don't actually focus on our team in the context of the mission.”
Publisher
Lenny's Podcast

18 / evaluation

But as an overall missive, don't focus on your competitors is terrible advice. And if I'm being charitable, it's just outdated because some fun facts, and I alluded to some of them before, over the past decade, if you're building in tech, particularly in SaaS or subscriptions, you now have 16 times the number of competitors if you started a business today, than if you did 10 years ago, and this is because everyone and their mother can spin up a website, a server, they can drive traffic to that site.

“But as an overall missive, don't focus on your competitors is terrible advice. And if I'm being charitable, it's just outdated because some fun facts, and I alluded to some of them before, over the past decade, if you're building in tech, particularly in SaaS or subscriptions, you now have 16 times the number of competitors if you started a business today, than if you did 10 years ago, and this is because everyone and their mother can spin up a website, a server, they can drive traffic to that site.”
Publisher
Lenny's Podcast

19 / recommendation

We're not better than you, you're not better than us, it's just this is how we do things here." And I think a lot of times we're scared to do that because we have that founder, that exact fear of, "Hey, we have to get this thing done and the only way to do that is to do X, Y or Z Z when in reality that's actually going to make your deadline go out further than actually focusing on alignment as much as humanly possible.

“We're not better than you, you're not better than us, it's just this is how we do things here." And I think a lot of times we're scared to do that because we have that founder, that exact fear of, "Hey, we have to get this thing done and the only way to do that is to do X, Y or Z Z when in reality that's actually going to make your deadline go out further than actually focusing on alignment as much as humanly possible.”
Publisher
Lenny's Podcast

20 / evaluation

'" It seems super trivial, but when you have over 20 people, all of a sudden these things start to come up. And I think most of the time we infantilize our teams where we let them run to HR, we have different policies or all of these different things, when at the end of the day you're paying an exorbitant amount of money for very smart human beings to basically do stuff and you want them basically working together and not having to go in this runaround with policies and people to push things forward.

“'" It seems super trivial, but when you have over 20 people, all of a sudden these things start to come up. And I think most of the time we infantilize our teams where we let them run to HR, we have different policies or all of these different things, when at the end of the day you're paying an exorbitant amount of money for very smart human beings to basically do stuff and you want them basically working together and not having to go in this runaround with policies and people to push things forward.”
Publisher
Lenny's Podcast

22 / recommendation

" And most of them quote Elon Musk about rockets and breaking down the different parts. So what I kind of found is there's the five whys, which I think someone's talked before or at least I've read it in the newsletter before, which is just you keep asking why.

“" And most of them quote Elon Musk about rockets and breaking down the different parts. So what I kind of found is there's the five whys, which I think someone's talked before or at least I've read it in the newsletter before, which is just you keep asking why.”
Publisher
Lenny's Podcast
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