Richard Blundell is a serial entrepreneur and startup advisor who helps B2B startups win by getting them uncomfortably narrow and solving critical problems. He also believes that startup founders are heroes, and recently published a book trying to help them avoid common mistakes and have the best chance of putting a dent in the universe. We discussed his approach, and what on Earth he's got against product managers.
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1. Your best chance to win in B2B is to get "uncomfortably narrow" and solve a visceral problem
Startup founders often start off spraying and praying, hoping to get any traction at all and start to build their revenue. This is understandable, but generally a mistake. It's important to start off way more narrow than feels comfortable and have a really solid plan to get your next 25 customers. Everything else can follow.
2. It's easy to get misaligned and lose sight of your core value propositionEven when organisations start off with a solid value proposition, this can change over time. But, in any case, one of the main problems with startups slowing down (or failing to scale up) is often not a lack of sales ability, but a lack of fundamental GTM narrative. You need to fix it upstream.
3. Startup founders are heroes...Startup founders put everything on the line to bring a sometimes impossible-seeming vision to fruition. It's easy to criticise them when things are going wrong, but no one has invested more time and effort into their startup than them.
4. ... but even heroes have weaknessesIt's important for founders to be self-reflective and understand their own weak spots. In some cases, this is the first leadership position they've ever held. In other cases, they'll have glaring gaps based on their own past experience. It's OK to have gaps! But, it's important to be honest about the gaps and get the right people to help you.
5. Your first hire at a B2B startup shouldn't be a Head of Sales (or a Product Manager!)It's tempting to get a seasoned seller into the business to get the numbers in but, actually, there's an even more crucial role that you need to hire first. Listen to the episode to find out who, but it's not a product manager - this can come later after you've got a foothold in the market and the founder can no longer scale.
Buy "The Go To Market Handbook for B2B SaaS Leaders""There are few people we admire more than the Founders and Leaders of software companies who have the courage, determination and, some might say, sheer madness to put their livelihoods and reputation on the line, to leave their own ‘dent in the universe’. It's a day to day, up at dawn, pride swallowing siege to lead such a business. And we know this for a fact because we’ve walked in your shoes many times. Over the last 25 years, we’ve been involved in the start-up, scale up and exit of several successful technology businesses, that between them have realized close to billion dollars of shareholder value. But along the way we've also had more than our fair share of disappointments and have the mental scars and bruising to prove it. We’ve made mistakes and fallen in what felt like bottomless pits. But fascinatingly enough, we learned as much from the ones that didn’t work, as we did from the successes. It’s these lessons which we thought we'd share in this book."
Check it out on Amazon.
Contact RichardYou can catch up with Richard on LinkedIn or visit Vencha.
Knowing your Customers, Seeking Evidence and Sticking up for Continuous Discovery (with Hope Gurion, Product Leader and Team Coach @ Fearless Product)
Transforming your Organisation to the Product Operating Model (with Marty Cagan, Author "Inspired", "Empowered" and "Transformed")
Applying Product Management Principles to Life (with Miloš Belčević, Author "Build Your Way")
Standing up for User Research... and User Researchers (with Debbie Levitt, CXO @ DeltaCX and Author "Customers Know You Suck")
Building Great Companies through Community-Led Growth (with Lloyed Lobo, Author "From Grassroots to Greatness")
Harnessing Generative AI to Reimagine the Future of Product Management (with Shyvee Shi, Product Lead @ LinkedIn & Author "Reimagined: Building Products with Generative AI")
Enabling Strategic Product Decisions through Product Operations and Portfolio Management (with Becky Flint, CEO of Dragonboat)
Nailing your Brand Marketing by Embracing your Zone of Genius (with Orly Zeewy, Brand Strategy Consultant & Author ”Ready, Launch, Brand”)
Making Sure You Make an Impact through User Research (with Steve Portigal, User Research Consultant & Author ”Interviewing Users”)
Making our Product Teams Stronger through Building Communities of Practice (with Petra Wille, Author ”Strong Product People” and ”Strong Product Communities”)
Going Beyond the Dreaded Product Demo and Creating the Perfect Sales Pitch (with April Dunford, Author ”Obviously Awesome” and ”Sales Pitch”)
Nailing your Product/Market Fit Strategy by Focusing on the Mission Critical (with Maja Voje, Growth Strategy Expert & Author ”Go-To-Market Strategist”)
Fearlessly Defeating the Four Horsemen of a Product-Friendly Culture (with Eisha Armstrong, Co-founder @ Vecteris & Author ”Productize” & ”Fearless”)
How to Build Products when the Founder IS the Product (with Saagar Bains, Fractional Product Leader & Former Head of Product @ The Body Coach)
Supporting the Next Generation of Female Product Managers with Women in Product UK (with Namrata Sarmah, Founder @ Women in Product UK & CPO @ INTO)
Paying Off Your Organisation’s Human Debt Through Agility & Psychological Safety (with Duena Blomstrom, Founder & CEO @ People Not Tech)
Moving Beyond Founder-Led Product Development & Setting PMs up for Success (with Jennifer Yang-Wong, VP of Product @ Contrary)
Connecting Product Management to Business Goals by Mastering your Product Strategy (with Gabrielle Bufrem, Product Leadership Coach & Advisor)
Taking Control of your Career with Life-Changing Conversations (with Julie Starr, Author ”The Coaching Manual”, ”The Mentoring Manual” & ”Brilliant Coaching”)
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