Headcount knowledge research, SaaS gross sales errors, monetary shut methods • robotechcompany.com
For the final 24 months, Thomvest Ventures recorded headcount knowledge for 150 Sequence A to C enterprise SaaS startups, and we’ve got the numbers.
This report ready by Eddie Ackerman, Thomvest’s strategic finance working accomplice, appears at startup hiring velocity since February 2021 by area, firm sort and, notably, how a lot time handed since final fundraise.
Ackerman says he expects to see one other tranche of layoffs in a number of weeks, after startups maintain their This fall 2022 board conferences.
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That’s not one thing any employee desires to learn a number of days earlier than Christmas, however forewarned is forearmed.
“For firms with a robust stability sheet, robust backers, product-market match or low burn, now’s one of the best time to make important hires,” says Ackerman.
And if that doesn’t describe your organization, you need to already be planning to cut back headcount.
“The robust resolution to freeze hiring needs to be made early, even when your stability sheet is in a very good place,” writes Ackerman.
If you happen to’re a founder who’s studying this: When layoffs are within the playing cards, you will have a ethical and moral duty to let your staff know as quickly as attainable. Do the fitting factor.
robotechcompany.com+ will publish on a lightweight schedule subsequent week, and we’ll resume our typical cadence on Monday, January 2. I’m taking a brief break for the vacations and can ship the subsequent robotechcompany.com+ publication/roundup on Tuesday, January 3.
Thanks very a lot for studying us in 2022. Have a really pleased new yr!
Editorial Supervisor, robotechcompany.com+
The right way to take advantage of your investor relationships in 2023
As Santa Claus refactors his record of who’s been naughty and good, it’s additionally a very good time for startup founders to take inventory of their investor relationships.
Vidya Raman, a accomplice at Sorenson Ventures, has written a TC+ article with dos and don’ts for upcoming board conferences, her ideas about which communication channels are finest for various assist requests and particular knowledge factors you need to elevate in your discussions.
“Be ruthless about the way you spend your time,” she advises, “particularly along with your traders.”
Vacation transport is simpler this yr, however the tech remains to be lagging
International provide strains are in higher form than this time final yr, however that doesn’t bode properly for the long run, writes Flexport CEO Ryan Petersen.
“This yr’s enhancements in transport largely mirror a pullback in consumption slightly than any enchancment within the underlying infrastructure,” he says, noting that labor shortages, world instability and excessive gasoline costs have created persistent bottlenecks.
“Happily, the information out there at present is wealthy past measure, and we even have the instruments to leverage it in methods that may enhance effectivity.”
Pitch Deck Teardown: Card Blanch’s $460K deck for its angel spherical
Fintech startup Card Blanch not too long ago closed a $460,000 spherical for its pre-launch service that guarantees to let prospects monitor private spending from a centralized app.
To see why this deck was smiled upon by angel traders bearing good tidings, we’re sharing the founders’ non-redacted deck:
- Cowl slide
- Drawback slide
- Market measurement slide
- Answer slide
- Product slide
- “The way it works” slide
- Competitors slide
- Income mannequin slide
- Market alternative slide
- “Subsequent steps” — the ask slide
- “Your complete pockets in a single card” — worth prop slide
- “Full spending analytic in a single place” — abstract slide
Expensive Sophie: What are the professionals and cons of the E-2 and L-1A visas?
We co-founded a startup in Colombia, and we’re fascinated by opening a gross sales workplace within the U.S.! I might be shifting, and my co-founder will proceed to run our engineering crew from Colombia.
I’m presently contemplating each the E-2 investor and L-1A govt visas. What are the professionals and cons of every?
— Brave Colombian
The right way to remedy the monetary shut dilemma: 3 methods that by no means fail
Be sincere: Did you rush your November month-end shut because of the December holidays?
New Yr’s resolutions are exhausting to stay to, however as a result of that is the slowest time of yr, it’s a very good time to determine more healthy accounting habits.
Earlier than operating your December numbers, search for methods to automate the month-end shut, advises Shagun Malhotra, a CPA and CIA who’s additionally an skilled auditor.
In a TC+ submit, she shares three methods for digitizing this course of, together with recommendations for sub-metrics to trace that provides you with an correct snapshot of your monetary well being.
“The info gathered in these steps will let you determine your small business’ root points rapidly, which is able to then allow you to assess what to do subsequent.”
3 Black traders discuss what they’re searching for in 2023
Buyers are usually optimistic about tech’s long-term means to get better, however on the subject of increasing alternatives for Black founders, Dominic-Madori Davis says they’re largely fatalistic.
She interviewed three Black traders to get their ideas on affect investing, which traits they anticipate to take off in 2023 and the way they like to be approached by founders:
- Alexis Alston, principal, Lightship Capital
- Richard Kerby, normal accomplice, Equal Ventures
- Jadyn Bryden, vice chairman, Xfund
Keep away from 3 widespread gross sales errors startups make throughout a downturn
Analysts estimate that IT spending will enhance in 2023, however inform that to SaaS gross sales groups making an attempt to shut contracts with prospects who’ve been instructed to slash spending.
“What each firm wants now’s environment friendly gross sales,” says Anand Shah, CEO and co-founder of Databook, who explains why reactive strikes like growing gross sales quotas or elevating costs gained’t transfer the needle.
“Make actual adjustments to satisfy your patrons’ wants. Use the macroeconomic backdrop to make the required gross sales productiveness enhancements.”