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.
Building High Performing Cross-Functional Teams as a PM (with Hanne Ockert-Axelsson, Senior Product Manager @ accuRx)
Why We Need To Stay Aligned to Avoid Product Failure (with Jonathon Hensley, author ”Alignment”)
The Importance of Making Design a Strategic Business Partner (with Wolfgang Bremer, Head of Design @ Elli)
How to Manage Imposter Syndrome in Product Management (with Phyllis Njoroge, author ”From Fraud to Freedom”)
Product Leadership is Hard - Let‘s Get Better At It (with Ebenezer Ikonne, author ”Becoming a Leader in Product Development”)
Building Effective Technical Skills for Product Managers (with Irene Yu, founder @ Skiplevel)
Leading & Evolving Product Teams Through Hyperscale (with Brian Shen, Product Director @ ClickUp)
Breaking Down Silos in Product Development (with Sigurd Seteklev, co-founder @ Kitemaker)
Can Sales & Product Really Get Along? (with Brendan McAdams, author ”Sales Craft”)
Protecting Vulnerable Users by Designing for Safety (with Eva PenzeyMoog, author ”Design for Safety”)
Creating Sustainable Products with Conscious Design (with Ian Peterman, co-author ”Conscious Design”)
Digital Pollution & The Product Hippocratic Oath (with Radhika Dutt, author ”Radical Product Thinking”)
Building the Future of Automated Crypto Trading with the DDDT Process (with Gabriele Musella, CEO @ Coinrule)
Helping Companies Scale by Automating (almost) Everything (with Daniel Cooper, founder @ Lolly Co)
Selling Product Thinking by Influencing Companies at the Right Time (with Anthony Marter, product consultant & chair @ Product Aotearoa)
Maintaining a Collaborative & Inclusive Product Culture at Scale (with Anna Curzon, Chief Product Officer @ Xero)
Building the Future of Professional Networking (with Peter Johnston & Matt Breuer, CEO & Product Director @ Polywork)
Optimising Product Planning with the Quartz Open Framework (with Steve Johnson, consultant & co-founder @ Product Growth Leaders)
Navigating the World of Product Management (with George Nurijanian, Product Owner @ Xero & Founder @ prodmgmt.world)
Fighting Fires in B2B Product Management (with Rich Mironov, Product Consultant & author ”The Art of Product Management”)
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