Hiring your first salesperson is a momentous point in any startup’s life. It’s also a decision filled with big decisions. In my role at Acceleprise, I get asked this question a lot by early stage founders. Hire too quickly? You’re plowing money into an employee who’s destined to fail. Hire too slow? You’ve wasted time while your competitors are scaling quickly. Timing is Everything When your company is early, generally the first handful of customers should be closed by you, the founder. You are the chief salesperson. It’s your responsibility to know what’s working and what isn’t. These initial meetings will help
We are excited to open applications for Cohort 4, which will start in January 2016, and have decided to change our initial investment from $30K for 5% to $50K for 5% moving forward. We made this change for a couple of reasons: Many of the companies we end up investing in have 3+ people on the team and $30K is often not enough to cover expenses during the 4 month program, especially with cost of living so high in San Francisco. It allows companies at this early stage to spend a little bit less time fundraising, which means they have that much more time
After launching Acceleprise SF last summer and announcing our first fund earlier this year, we are excited to announce our 3rd cohort of companies in San Francisco. From the 1st cohort to this one, we have seen applications increase by 2.5 times and have been even more selective, only accepting about 3 percent of the companies that applied for cohort 3. As we continue to build our brand and network in San Francisco and as opportunies for SaaS based businesses continue to grow, we are seeing a stronger demand from SaaS entreprenuers who are looking for a more focused and hands
The size of seed rounds are growing as seen in Mattermark’s recent investment report, which has brought on the rise of pre-seed funds looking to be the first money in to a startup before they raise a $2M+ seed round. Many people have written about this recently, including Manu Kumar from K9 Ventures in his post ‘The New Venture Landscape‘ and Ezra Galston from Foundation Capital in his post ‘A Pre-Seed Primer.‘ Below is a list of pre-seed funds that appear to invest in SaaS companies (among other areas). It’s a work in progress, so please add a comment or ping us
Today we announced the close of our first fund in San Francisco on TechCrunch. We are also very excited to announce the 10 companies that are part of our 2nd cohort here in San Francisco. We have spent the last 3+ months working closely with all of them and are impressed with what they are building. The companies below will present as part of our Demo Day on May 18th, 2015. Accredited investors interested in attending can email us at mike at acceleprisesf dot com. AdHusky provides an automated Facebook ad solution for SMB’s via partnerships with Eventbrite, Yahoo, WIX and more.
You just hired a sales executive. Do you recommend early stage SaaS companies hire a more junior or senior sales person as their first sales hire? I think this really depends on a couple of things: 1.The sophistication and price of your product 2.The type of buyer and company you’re going after For example, we’re selling a complex product that solves complex business problems, specifically for larger enterprise companies, with deals ranging anywhere between $40k-$250k ARR. Those kinds of deals typically need someone who understands the ups and downs of 90-120 day (or more) enterprise sales cycle, can navigate challenging
As we continue to build our community of early stage SaaS startups, it became apparent that having a hands on internal resource to not only help build out scalable and repeatable sales processes but also execute on those plans for our portfolio companies would be valuable. With that said, I am excited to bring on Ben Mones as the first ‘Sales in Residence’ at Acceleprise. Ben brings 3+ years of SaaS sales experience across both SMB’s and large enterprises. Ben will be in our office working side by side with our companies to help build their revenue engines and
Welcome to our new weekly CEO Q&A series with early stage SaaS CEO’s. Our mission at Acceleprise is to build a world class SaaS focused community and as part of that goal, we want to provide short and helpful content for early stage SaaS founders through these posts. This week, we interviewed Nathan Klarer, CEO of BridgeCrest Medical. BridgeCrest Medical is a SaaS platform that connects innovative mobile health technologies with proprietary health analytics to drive productivity improvements, reduced onsite accidents and insurance cost reductions for heavy industry around the globe. They are working with the some of the