SaaSy Talk S02.01: Growth and Evolving Leadership Style
About The Guest(s): Alex embarked on his career at CDW, spending eight years immersed in sales, cultivating a passion for customer relations and revenue growth. He led two pivotal chapters, propelling businesses from inception to $9M and later to $22M. As the Co-founder and CEO of SceneDoc, a pioneer in 'mobile-first' data collection for global first responders, he steered the company to acquisition by Tyler Technologies (NYSE: TYL) in December 2018. Post-acquisition, Alex assumed key roles at Tyler, ANDE Corporation, Qumu (acquired by Enghouse Systems), and Spatial Data Logic (acquired by Gauge Capital), showcasing his leadership prowess. Presently, he dedicates the majority of his energy to advising startups, providing fractional and interim CEO/CRO services, and occasionally investing in early-stage ventures. At the helm of Dena Growth, his consulting and advisory venture, Alex boasts a proven track record in steering tech companies to success. Over his career, Alex has advised over 90 startups, led or supported five acquisitions, and helped in the raising of $75 million in venture capital and private equity, Alex is a driving force in the tech ecosystem.
Episode Summary: A candid conversation with Alex Kottoor, co-founder of SceneDoc, sharing significant moments from his journey of conceptualising, growing, and eventually selling his company. Kottoor details SceneDoc's evolution, starting from their days as a note-taking app to their impactful niche as a service for public safety entities. He discusses the challenges and achievements they faced, from hiring the right team to finding product-market fit. He also stresses the importance of being customer-obsessed, having a supportive spouse, and advises new entrepreneurs to trust their gut and start their journey as soon as possible, closing the session with further insights on investment cycles, funding, and sales methodologies.
Key Takeaways:
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Building a successful startup requires a combination of domain expertise, sales skills, and the ability to adapt to the needs of the market.
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Hiring the right team at each stage of growth is crucial, and founders should prioritize hiring for the stage they are in rather than solely focusing on domain expertise.
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Founders should be prepared to weather the storm and have a high pain tolerance, as running a startup is a constant grind.
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Founder-led sales can be effective, but it's important to transition to a VP of sales at the right time and hire someone who can scale the sales process.
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Understanding the market and focusing on a specific target audience can lead to predictable growth and attract the attention of larger players in the industry.
Notable Quotes:
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"You need to hire for the stage of growth you're at and not lose sight of the type of business you're trying to build."
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"Pain tolerance is key. You have to be able to weather the storm and crawl through the mud longer than everybody else."
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"The more you can be in the trenches with prospects and customers, the more optionality you'll have in funding the business."
Chapters
00:23 The Journey of Building SceneDoc
02:37 The Turning Point: From Picky Note to SceneDoc
04:49 The Growth and Evolution of SceneDoc
05:37 Challenges and Learnings in the Early Days
08:26 Building the First Team and Overcoming Challenges
11:34 The Evolution of Leadership Style and Team Building
18:50 Reflections on the Journey and the Reality of Running SceneDoc
21:38 The Strategy Behind SceneDoc's Success
25:51 The Unconventional Approach to Enterprise Sales
28:20 The Journey to Predictable Growth
28:52 Transitioning from Founder-led Sales
29:31 The Role of a CEO in Sales
30:32 Understanding Investment in Startups
30:57 The Importance of Knowing Your Market
32:15 The Decision to Raise Capital
33:14 The Biggest Mistake and Rewarding Moments
35:32 Advice for Aspiring Founders
37:35 The Next Wave of Dana Growth
41:02 Quick Fire Round
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