Brock Noland
@brocknoland
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CEO of Vertical Insure https://t.co/0D4rYv7xN8 and Co-founder/Chairman phData (see https://t.co/FIlYMG9w1o)
Joined July 2008
The company I co-founded will do $45M in sales this year. I led GTM for the first three years. I learned 5 big things. Thread🧵
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One time I was en route home to Minneapolis, from India, when I was asked to come back to India for a one day gig.
I have a LOT of crazy stories from consulting A personal favorite: a client had me fly from Chicago to Australia for 4 days of meetings there I spent more time in the plane flying than I did actually in Australia!
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Read about Minneapolis startup Vertical Insure, provider of embedded insurance, raises $4M in the @MSPBJnews
https://t.co/eECgTvXyMw
bizjournals.com
A Minneapolis-based startup that provides embedded insurance to industry-specific, software-as-a-service companies recently received $4 million in seed funding.
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What about embedded insurance?? We help, it's even in our name:
verticalinsure.com
Make embedded insurance a part of every online transaction with our customized solutions for your industry.
most important infrastructure providers powering the explosion of Vertical SaaS? i'll go first: https://t.co/vYlMbkFCG3 for embedded payments https://t.co/lCsxkXpb9F for embedded payroll https://t.co/ZpR8lRNyqX for embedded lending who else?
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PowerPoint and Android don’t become more valuable without being sold.
Reddit: acquired for $10m PowerPoint: acquired for $14m Venmo: acquired for $26m Android: acquired for $50m Timing an exit is one of the hardest things in startups/venture.
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Bolt just did something radical. They rolled out highly risky stock option program for their employees and didn’t cover the nuance and downside so their CEO could klout chase. Many companies have done this before but here is what Bolt employees missed out on Let’s dive in 👇👇
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Almost everyone misses this….
@sarthakgh In the name of privacy, Apple effectively canceled the customer acquisition engine of SMBs.
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Start by talking to customers.
The best startup advice to potential founders I've heard: Get started. The rest will follow.
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Bonus tip: https://t.co/JDU5iewZrS
Once you find product market fit, your job as a founder is mostly about recruiting and HR. If you hate recruiting....it's going to be a long road.
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5. Always start a small SDR/Inside team, even if you think you don't need it. The inside team helps you find people with potential. Your success rate when you promote someone from this team will be much higher, over 90%.
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4. Sales and sales management are the hardest positions to hire. The best solution is to have them pitch your product to you. Their pitch is going to be off because they don't know the product but you should see hustle and potential. Success rate of 50% is considered good.
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3. If the partner *is* selling the product for you, you are a commodity provider. Thus you won't be in control of your own destiny. The partner can destroy your business overnight.
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2. Unless the partner is literally selling the product for you, you still need to build a sales team.
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1. Partnerships can work *if and only if* you solve a critical problem for the larger company. phData solved a critical need for Cloudera and now Snowflake.
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Once you find product market fit, your job as a founder is mostly about recruiting and HR. If you hate recruiting....it's going to be a long road.
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Isn't it time that Obama release his college records and applications? Boy would that create a mess! He is not who you think.
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