11 efficiency metrics every SaaS founder should know 👇 + 6 useful SaaS benchmark reports to compare your metrics vs. peers: 1 - ChartMogul SaaS Benchmarks Report https://lnkd.in/eqVCykwv 2 - Baremetrics Open Benchmarks https://lnkd.in/eiDndFGn 3 - Userpilot SaaS Product Metrics https://lnkd.in/e24EzSWH 4 - OpenView 2023 Saas Benchmarks Report https://lnkd.in/em3YS_UV 5 - Andreessen Horowitz Guide to Growth Metrics https://lnkd.in/e-F54F9m 6 - Bessemer Venture Partners The Cloud 100 Benchmarks Report 2024 https://lnkd.in/e8i-3_PC Thanks Dirk Sahlmer for putting this useful summary table together 👌 -- PS: Building profitably growing SaaS and looking for an investor (or buyer) who's been in your shoes? Let's connect! Zdenko Zvada / Flying Founders #saas #profitablegrowth
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Helping founders build profitably growing businesses | Co-founder @ Flying Founders
Not many founders realise this when they choose the VC route: You can end up walking away with $0. If you raise at higher valuation. Than what you eventually sell your business for. Surest ways to avoid this happening to you? 1/ Focus on profitable growth (don't raise VC money) 2/ If you raised VC money, you better scale very very fast (T2D3 fast!) 3/ If #2 doesn't work, cut down the costs, and do #1 -- PS: Recommend to read the full thread on X (link in comments) #venturecapital #profitablegrowth #saas
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Helping founders build profitably growing businesses | Co-founder @ Flying Founders
Last month, we invested in Tolgee. They do one thing exceptionally well: Help developers manage content on their websites and mobile apps across multiple markets and languages - critical for any business operating internationally. When we first met the team earlier this year: - There were many other similar apps to Tolgee (still are) - They had been rejected by every investor they’d approached - The only mention of AI on their website was in the word “painless” So why did we decide to invest? Many reasons. But in short: - Raving fans - Solid pitch (+deck) - Strong early traction - Delightful user experience - Open source business model with engaged community - Lean team with relevant skills and experience that can execute, is coachable, and that shares our view about building in profitable growth mode If I was to highlight one of the above. It was the last point that really got us excited. I always ask myself this one question after the first meeting: Do I want to spend more time with these guys? With the Tolgee team, the answer was a resounding yes. Even after a 1.5-hour train ride from Brno to Bratislava, which we took together right after our first meeting - a trip that could have easily turned awkward but, in fact, played a key role in sealing the deal. While we’re only at the beginning, and we'll see how this story unfolds, it's a nice reminder that it’s about more than just the product or market potential. It’s about the people behind the idea. #flyingfounders #saas #profitablegrowth – PS: If you are building profitably growing SaaS and looking for an investor (or buyer) who's been in your shoes before, let's connect --> Zdenko Zvada / Flying Founders
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Helping founders build profitably growing businesses | Co-founder @ Flying Founders
Excited to be backing team Tolgee as our first investment with Flying Founders. Really looking forward to building this one together Jan Cizmar Marketa Cizmar and Štěpán Granát!
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Helping founders build profitably growing businesses | Co-founder @ Flying Founders
Best founders I have met do this one thing right: Go where their audience is to get the early users. They don't just run ads. (done that 😬 ) Not sure what else you can do apart from pouring money to Google and Facebook? Check this GTM motions overview by Maja Voje 👇 Go get them.
GTM motions
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Helping founders build profitably growing businesses | Co-founder @ Flying Founders
Famous last words before burning a lot of cash (and time). "We just need to build this one feature and they will come." Build audience first. Product second. Nice visual by Nick Himowicz 👏
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Helping founders build profitably growing businesses | Co-founder @ Flying Founders
I couldn't stop thinking about this comment from Julia Samodurova on one of my Linkedin posts: "I think it's just too much. In my experience, founders focus too much on non-value-adding KPIs and worst of all having team members manually pull the reports for what looks like the sake of reports. Have to be broken down by industry and narrowed down to: 1/ North-star / growth metric (1) 2/ Efficiency metric (1) 3/ Diagnostic metric (as many as necessary but only looked at for analysis and to make the actionable conclusion)." Sounded familiar. As a founder, I went from not measuring anything to tracking way too many metrics. From making uninformed decisions to being swamped by the amount of data stitching and reporting. So, I asked Julia to team up and prepare a simple overview of the north stars and key metrics. The absolute musts to be tracked from day one. See below👇 What other metrics would you add?
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Helping founders build profitably growing businesses | Co-founder @ Flying Founders
I see way too many founders building cash-burning wannabe unicorns and focusing too much on raising the next round. Instead of trying to figure out how to add genuine value to customers, and turn that into healthy, cash-flow-generating growth early on. I don’t know how many rocket-growth companies the world needs, but it could use more businesses that can take off, fly, and land safely. That’s why Michal and I decided to start Flying Founders, a new investment fund backing founders who want to build profitably growing businesses. Spent the past 12 months talking to more than 100 European founders to see how we can best support their growth ambitions. Here’s our investment approach based on these discussions: 1 - Invest €100k - €600k per company in the form of growth capital and/or buyout. 2 - Focus on verticals and stages where we can add value apart from just money - for us this is SaaS businesses with ARR from €100k to €2m. 3 - Start with a smaller portfolio of 5 to 10 companies to be able to give founders genuine hands-on support when needed. 4 - Hold long term, focus on profitable growth and dividends, no pressure to raise or exit. 5 - Share the success with portfolio companies by giving them % in Flying Founders. Starting with our own funds to invest, a lot of valuable lessons to share with founders and decent investor skills. Hoping to get better with each investment! – PS: If you are building in this space and are looking for an investor (or buyer) that can help you on your path to profitable growth - let’s connect!
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Helping founders build profitably growing businesses | Co-founder @ Flying Founders
I analysed more than 90 investor lists circulating on LinkedIn over the past 10 months Bad news: Most of them are outdated or have only basic info. Good news: They're still better than starting from scratch on Google or ChatGPT. Well, some of them. Here are my top 5 picks (all free): 1 - openvc.app Detailed info on 5k+ investors worldwide, advanced search and filter options + great UX. My go-to-place to create investor hitlists and start outreach. The app is full of useful resources and courses on fundraising too. 2 - gritt.io This database is a hidden gem. It has data on 35k+ investors (mainly angels) with their linkedin URLs. You can also view founders related to a specific investor on Linkedin - great for warm intros. 3 - signal.nfx.com Great if you're looking to raise from US investors. It has 31k+ contacts (90%+ US based). Connect with your gmail to see people from your network who can introduce you to investors. 4 - shipshape.vc Google for investors. With 60k+ contacts probably the largest free investor database out there. You can create investor shortlists and download them as a CSV file - practical. Definitely worth a check. 5 - Odin Investor List https://lnkd.in/e_pUVhJn The largest airtable investor list that I came across (6k+ firms). You can filter investors by type, industry, stage and geography. The only downside - you can't export the data. Hope this helps. (Included the link to all 90+ investor lists below. No need to connect or comment) Good luck with your outreach 🤞 -- PS: If you find this useful, feel free to 👍 Like, ♻ Repost and @ Tag any Founders who are fundraising right now to help each other out.
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Helping founders build profitably growing businesses | Co-founder @ Flying Founders
I've heard 100+ NOs from investors. Here's what they sound like: “Need to see more traction.” “Tend to invest at a later stage.” “We are not the right fit for you guys.” “Can’t wrap our heads around the market.” “Don’t think this is a venture scale business.” “Don’t think we are the best partners for you.” “Can’t get comfortable with the business model.” “We think the market is and will not be large enough.” Here’s what they mean 99.999% of the time: “We don’t believe that you, the founder(s), have what it takes to solve this problem.” Very often they are right. But sometimes this happens just because you suck in answering these 3 questions: - Why are you REALLY doing this? - How obsessed are you to solve this problem? - How will your skills and experience help you succeed? If I was to change anything about how I pitched my previous startups. I would focus more on the "why us" part. It would spare us quite a few NOs. Any other useful tips? -- #venturecapital #startups #fundraising
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