YC
After PMF: People, Customers, Sales by Mathilde Collin
@ Y Combinator
10/25/18
Takeaways
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Mathilde Collin
10/25/18
@ Y Combinator
I've always wanted to start a company, but I didn't feel confident enough to believe I could do it.
MC
Mathilde Collin
10/25/18
@ Y Combinator
Working at a small startup helped me discover my passion for software, as I found it rewarding to build something that could change how people work.
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Mathilde Collin
10/25/18
@ Y Combinator
The culture at my first startup was terrible, which made me unhappy and taught me the importance of creating a positive work environment.
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Mathilde Collin
10/25/18
@ Y Combinator
Transparency is crucial for building trust and engagement among employees, which is something I prioritize at Front.
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Mathilde Collin
10/25/18
@ Y Combinator
At Front, we ensure that everyone understands our goals and how their work contributes to achieving them, which fosters a sense of purpose.
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Mathilde Collin
10/25/18
@ Y Combinator
I believe that having a clear vision is important, but what truly drives success is discipline and the ability to focus on key priorities.
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Mathilde Collin
10/25/18
@ Y Combinator
In the early days, we tracked our revenue daily to ensure everyone in the company was aligned with our financial goals.
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Mathilde Collin
10/25/18
@ Y Combinator
I learned that I should hire people who are better than me in areas where I need help, rather than expecting them to figure things out for me.
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Mathilde Collin
10/25/18
@ Y Combinator
It's essential to be disciplined about hiring; I prioritize finding candidates who align with our values, even if it means waiting longer to fill a position.
MC
Mathilde Collin
10/25/18
@ Y Combinator
To create a successful culture, be demanding and make tough decisions about team members who aren't working out, as their performance affects the entire team. Transparency is crucial in both the early days and at scale; everyone in the company should know everything except for sensitive information like salaries.
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Mathilde Collin
10/25/18
@ Y Combinator
Real transparency means sharing all information that helps employees do their jobs better and answer their questions, while avoiding sharing details that could raise unnecessary concerns.
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Mathilde Collin
10/25/18
@ Y Combinator
At Front, we share everything business-related, including revenue, churn, customer feedback, and even board meeting notes, to ensure everyone is aligned and informed.
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Mathilde Collin
10/25/18
@ Y Combinator
High employee retention is a strong indicator of a company's health; at Front, we have an NPS score of 87 and very low attrition, which reflects our positive work environment.
MC
Mathilde Collin
10/25/18
@ Y Combinator
When I joined Y Combinator, I was unsure about our product's market fit, but I learned that being honest about our product's state is essential for growth.
MC
Mathilde Collin
10/25/18
@ Y Combinator
To achieve product-market fit, I disciplined myself to talk to as many users as possible, ensuring I understood their needs and concerns.
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Mathilde Collin
10/25/18
@ Y Combinator
We started with a freemium model, but realized it distracted us; we shifted to a paid model and consistently increased prices over time, which helped us focus on serious customers.
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Mathilde Collin
10/25/18
@ Y Combinator
It's important to release your pricing early to confront the market and gather feedback from paying customers, rather than being overwhelmed by opinions from those who won't pay.
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Mathilde Collin
10/25/18
@ Y Combinator
In the early days, focus on understanding customer workflows and pain points rather than just selling features; this approach leads to better product alignment with customer needs.
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Mathilde Collin
10/25/18
@ Y Combinator
When building a sales strategy, decide whether to pursue a top-down or bottom-up approach, as this will influence hiring and sales tactics significantly. I focused on having our sales representatives call every lead five times and schedule 15 demos each week, regardless of how they achieved that activity level.
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Mathilde Collin
10/25/18
@ Y Combinator
At this stage, the input of sales activities is far more important than the output, as hitting targets can help identify if those targets are realistic.
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Mathilde Collin
10/25/18
@ Y Combinator
It's crucial to listen to customer feedback rather than just describing your product; resist the urge to showcase your product immediately and ask questions instead.
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Mathilde Collin
10/25/18
@ Y Combinator
After my co-founder was diagnosed with cancer, I realized that being happy and healthy is more important than the company itself, and I now emphasize this to new team members.
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Mathilde Collin
10/25/18
@ Y Combinator
Meditation has significantly improved my life, allowing me to care deeply about my company without being overwhelmed by stress and anxiety.
MC
Mathilde Collin
10/25/18
@ Y Combinator
I chose a subscription-based model because it aligns with the benefit users receive from having more users, and it's a common practice in our industry.
MC
Mathilde Collin
10/25/18
@ Y Combinator
When raising prices, it's best to notify customers sooner rather than later, and offering them a chance to lock in their current rate by switching to a yearly plan can be beneficial.
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Mathilde Collin
10/25/18
@ Y Combinator
To gauge if people are willing to pay for a product before it's fully developed, I asked potential users what they would give for access, which led to creative responses.
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Mathilde Collin
10/25/18
@ Y Combinator
Content marketing was key in acquiring our first 3,000 signups during private beta, as I wrote blog posts that sparked curiosity about email and its future.
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Mathilde Collin
10/25/18
@ Y Combinator
New features are a great way to upsell; I often offer a 30-day trial of a new feature and ask if users would be willing to double their price if they find it valuable.