Extraordinary Pursuits by BIP Ventures

BIP Ventures

Extraordinary Pursuits by BIP Ventures is a conversation between some of the most accomplished and inspiring entrepreneurs, VC leaders, and economists working in the Innovation Economy. The podcast provides content for founders and investors. The ’golden thread’ is story-based education and information about the role of VC in the Innovation Economy. Each episode will simplify complex topics related to innovation, entrepreneurship, and private market investing. read less
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Episodes

Navigating Entrepreneur Support Organizations with Dr. Malcolm Muhammad
5d ago
Navigating Entrepreneur Support Organizations with Dr. Malcolm Muhammad
Entrepreneur Support Organizations (ESOs) help people who want to start or grow their businesses. These organizations provide various resources such as advice, training, and funding. They might also offer workshops, mentorship programs, or networking events to connect entrepreneurs with experts and other business owners. In this episode of the Extraordinary Pursuits podcast, Dr. Malcolm Muhammad joins BIP Ventures to talk about how support communities for entrepreneurs are evolving and what it means for anyone considering or working on building a new business. He explains the ESO model and identifies the ways they can help (or hinder) entrepreneurs as they overcome challenges and succeed in their ventures. Timestamps: [00:01] Intro and what is in for you in today’s show with Malcolm Muhammad[02:08] Malcolm’s entrepreneurship background and as VP @ the Russell Center[05:52] What the Russell Center is doing to empower entrepreneurial growth[11:15] Entrepreneur Support Organizations (ESO) to network with entrepreneurs[13:35] The prevalence of ESOs in different countries[17:04] Components of an ESO and how founders can know the most useful components[19:49] What it means to be an accountable entrepreneur with the availability of ESOs[25:00] Tips to maintain accountability in entrepreneurship[33:09] Is entrepreneurship drive innate or learned through ESOs? Points of Wisdom: “Entrepreneur Support Organizations (ESO) as the name suggests, exist to support businesses. They are not there to do it for you or give you ideas or strategies. It is your job as an entrepreneur to ensure that you are leveraging that support.”- [23:07]“Enjoy solitude as an entrepreneur. It gives you time to reflect because entrepreneurs are always on the go all the time.” [26:46]“Entrepreneurial drive is about seeing the circumstances around you and deeply believing that it should be different.” [33:14] About Dr. Malcolm Muhammad: Dr. Malcolm Muhammed is vice president of engagement and outcomes at the Russell Innovation Center for Entrepreneurs (RICE). It is an economic mobility engine that provides black entrepreneurs and small business owners with the resources needed to innovate, grow, and build wealth. In his day-to-day work, Malcolm focuses on his efforts and experience in unlocking the full potential of the RICE community of entrepreneurs and managing a powerful evidence-based framework for scaling black businesses. LinkedIn: https://www.linkedin.com/in/malcolm-muhammad-phd-a17a8640/Website: https://russellcenter.org/ BIP Ventures Website: www.bipventures.vcLinkedIn: https://www.linkedin.com/bipventures/Instagram: https://www.instagram.com/bipventures/Twitter: https://twitter.com/bipventuresYouTube: https://youtube.com/@bipventures
Measurement Matters: How to Set the Right KPIs for Your Startup
Jun 20 2024
Measurement Matters: How to Set the Right KPIs for Your Startup
Key Performance Indicators (KPIs) are essential metrics for any company. For startups – particularly those that are backed by private capital – KPIs are not only necessary for setting a path to manageable growth, but they also are critical indicators for investors.  KPIs can include metrics like revenue growth, profit margins, customer acquisition costs, and return on investment (ROI). Individually and collectively, they provide a snapshot of a company's overall health and performance. Investors use these metrics to gauge a company's performance and potential for future growth. Strong KPIs attract investors by demonstrating that the company is financially sound and has a good chance of providing a profitable return. Conversely, weak KPIs might signal potential risks, making investors cautious.  This episode of Extraordinary Pursuits features John Thackston, the CEO of SOAR Performance Group. A business and sales performance expert and consultant, John designs, develops, and implements Sales Capital Management℠ projects that help B2B companies adopt new go-to-market (GTM) strategies and enhance their bottom line. He is a sought-after guest speaker and panelist who frequently shares advice about why KPIs matter for early-stage companies and what investors look for in the metrics.  What You Will Learn:  [00:01] Intro and what is in for you in today’s show with  John Thackston [01:24] John’s entrepreneurship background and journey with the SOAR Performance Group [02:29] What are KPIs [03:50] When should early-stage companies start tracking their KPIs [05:12] The four most critical KPIs startups should track [07:50] Tools that can be used to help in tracking those 4 metrics [12:46] KPI benchmarks for startup companies [14:02] Factors that hold companies from monitoring their KPIs [20:20] How to note lagging and leading indicators in a company [23:17] Filtering the necessary data from the indicators  Standout Quotes:  “Key Performance Indicators (KPIs) are metrics that show whether the business is performing, in what way, and in what periods of time.”- [02:29] “When the foundation of your business is solid, it becomes easier when you start to scale.” [04:04] “The four essential core KPIs for a startup company are revenue, pipeline, retention, and efficiency.” [07:09] “Most startups run the risk of not scaling up well especially when they start adding more KPIs to track” [28:11]  Let’s Connect!    John Thackston  LinkedIn: https://www.linkedin.com/in/john-thackston/  Website: https://soarperformancegroup.com/  SOAR LinkedIn: https://www.linkedin.com/company/soar-performance-group-inc-/   Rachelle Kuramoto  LinkedIn: https://www.linkedin.com/in/rachellekuramoto-atlanta/  BIP Ventures  Website: www.bipventures.vc  LinkedIn: https://www.linkedin.com/bipventures/  Instagram: https://www.instagram.com/bipventures/  Twitter: https://twitter.com/bipventures  YouTube: https://youtube.com/@bipventures
MINI EPISODE: Building a Top 5 Innovation Economy
Jun 13 2024
MINI EPISODE: Building a Top 5 Innovation Economy
To become a Top Five innovation community, Atlanta needs to produce 2000 companies per year—that's 10 times the number of companies we’re currently developing.  Listen to this fascinating mini-episode of for an honest conversation between Donnie Beamer Jr., CFA and Mark Buffington. You'll learn how the ATL Tech Hub team from the City of Atlanta Mayor's Office is focusing on perception, measurement, and talent development to make the goal a reality. In the full episode, Donnie Beamer, the Senior Technology Advisor for the City of Atlanta, discusses the ATL Tech Hub initiative and the city's efforts to become a top five innovation and technology investment ecosystem. The conversation highlights the importance of technology in creating a safe and effective city, as well as the need to provide opportunities for all residents. They also discuss the unique advantages of Atlanta, such as its diverse industries and accessible community. The episode concludes with a discussion on the city's plans to increase capital availability and support student entrepreneurs through a co-op program and pitch competition.   Takeaways The ATL Tech Hub initiative aims to make Atlanta a top five innovation and technology investment ecosystem.Technology is crucial for creating a safe and effective city, as well as improving the citizen experience and operations.Atlanta's unique advantages include its diverse industries, accessible community, and the willingness of leaders to support and collaborate with entrepreneurs.The city is working to increase capital availability and support student entrepreneurs through programs like a co-op program and pitch competition. Standout Quotes "To be a safe city, one that's a government that's effective, a place that's built for the future, all that is gonna require technology.""Atlanta treats venture capital dollars very, very well in terms of batting average and then outcome, multiple of outcome, multiple of invested capital.""Atlanta is a 10 times better city to raise a family and build and scale a business compared to San Francisco."   About Donnie Beamer Donnie Beamer, CFA was appointed by Mayor Andre Dickens as Atlanta’s first-ever Senior Technology Advisor. He serves as the Mayor’s chief liaison with the tech sector and assists with shaping policy and programs to grow the ecosystem. Beamer also works with Invest Atlanta to attract new companies to the city, grow existing ones and advises the Administration on fostering Atlanta’s technology workforce. Prior to joining the City, Beamer was the General Manager of LotVision Automotive at Cox2M, Cox Communication’s commercial IoT business line and was responsible for the product roadmap and strategy for their flagship vehicle tracking and telematics platform. Beamer was also an Atlanta tech entrepreneur, leading the Monsieur team that created an automated bartending system that was deployed in movie theaters, hotels, and sports & entertainment venues. Although his first job out of undergrad was in investment management at BlackRock in NYC where he served institutional clients and earned his CFA charter. Beamer studied Economics as a Division I student-athlete at the Georgia Institute of Technology and earned an MBA from The Wharton School at UPenn.   Social Channels – Company LinkedIn: @city-of-atlanta You can learn more about them at https://www.atltechhub.com/ Social Channels – Guest: Donnie Beamer LinkedIn: @donniebeamer https://www.linkedin.com/in/donniebeamer/   About Mark Buffington Mark Buffington is the founder of BIP Capital and the Managing Partner of BIP Ventures. Since founding BIP Capital in 2006, Mark has led the venture capital firm to its position as one of the most active and recognized brands outside of Silicon Valley. Mark has led investment rounds in more than 80 companies in numerous industries (Healthcare, Digital Media, Ed Tech, Enterprise SaaS, FinTech, and Advanced Computing). Notable investments include Vendormate, Ingenious Med, QA Symphony/Tricentis, PlayOn! Sports, Huddle Tickets, Tropical Smoothie Cafe, Cypress.io, ConnexPay, REACH Health, Trella Health, Shareholder InSite and Aspirion Health Resources. Mark earned an MBA from the A.B. Freeman School of Business at Tulane University and a B.S. from the Georgia Institute of Technology (where he lettered as a varsity baseball player). Mark serves on the board of directors of several companies, including the NFHS Network, AchieveIt, Trella Health, PlayOn! Sports, UserIQ and ConnexPay. He also serves on several nonprofit boards, including Buckhead Coalition, Inc. and the Georgia Tech College of Computing.
The Entrepreneurial Survival Plan: Market Fit, Planning, and Perseverance
Jun 6 2024
The Entrepreneurial Survival Plan: Market Fit, Planning, and Perseverance
As any seasoned entrepreneur will tell you, starting and running a business is challenging. In fact, almost 90% of new startups fail—10% of those fail within the first year. The causes range from poor product-market fit to ineffective marketing, talent issues, and cash flow problems. Even with a real challenge to solve and the desire and grit to try, entrepreneurs need more to survive and thrive. Entrepreneurs require proper preparation and support, along with clarity about the market and their customers, and a solid business plan. Continuous learning and seeking advice from mentors can provide valuable insights and help make better decisions. With the right steps and support, entrepreneurs can increase their chances of success. In this episode, serial entrepreneur Jan Heybroek joins host Rachelle Kuramoto to share what he wished he had known early in his entrepreneurial journey. He explains why conviction in a market opportunity is a good starting point, how to confirm product market fit, why thinking ahead is a critical skill, and why perseverance is a core quality for any founder. Tune in! What You Will Learn: [00:01] Intro and what is in for you in today’s show with Jan Heybroek[01:53] Jan’s background as a founder[05:32] Knowing when to unleash your entrepreneurship potential[08:32] Why conviction in a market opportunity is a good starting point for entrepreneurship[12:15] Tips for an effective pivot decision-making process for founders[15:21] How to gauge the value of the advice you get when making business decisions[21:41] Having a long-term vision guided by the short-term realities[27:35] Why thinking ahead is a critical skill in entrepreneurship[30:51] How Jan’s future horizon looks like[33:31] Best ways to connect with Jan and the end of the show Standout Quotes: “Entrepreneurship is something that many people aspire to. Quite a few try it and there’s a lot of failure.”- [01:58]“All entrepreneurs have an incredible drive and pursuit or typically want to address a problem they have faced.” [05:42]“There needs to be a market opportunity for any entrepreneurial venture. Otherwise, you can never be successful. One way to unlock that is by talking to many people.” [09:09]“Entrepreneurs need to have the short-term ability to see what is in front of them that can affect their long-term business vision.” [21:43] Let’s Connect Rachelle Kuramoto LinkedIn: https://www.linkedin.com/in/rachellekuramoto-atlanta/   Jan Heybroek LinkedIn: https://www.linkedin.com/in/janheybroek BIP Ventures Website: www.bipventures.vc LinkedIn Podcast: https://www.linkedin.com/showcase/extraordinary-pursuits-podcast LinkedIn: https://www.linkedin.com/bipventures/ Instagram: https://www.instagram.com/bipventures/ Twitter: https://twitter.com/bipventures YouTube: https://youtube.com/@bipventures
MINI EPISODE: The Startup’s Guide to ICPs
May 22 2024
MINI EPISODE: The Startup’s Guide to ICPs
Building an Ideal Customer Profile (ICP) is a critical first step for startups. It forms the foundation for targeted go-to-market (GTM) strategies, building customer traction, and understanding how to evolve the brand as the company scales. In other words, the ICP is the guiding beacon for every aspect of sales, marketing, and customer success.     The process begins with understanding why the ICP is tightly framed and specific. Building the ICP should engage collaboration from teams across the organization. Involving various departments ensures the ICP accurately reflects the needs and preferences of the most valuable audience. Once built, this profile becomes the foundation and driver for tailored strategies to attract, convert, and retain key target customers – ultimately driving sustainable business success.    In this mini-episode, BIP Ventures General Partner and Chief Performance Officer Christy Johnson explains how to define an ICP that effectively attracts, converts, and retains the most important audience for the business. She considers the need for a sufficient market size and budget, as well as the challenges of targeting only the largest companies. The conversation also explores the concept of having multiple ICPs versus focusing on one, highlighting the benefits of focus and the potential internal distractions of having too many targets. The main takeaway is the importance of clarity and focus in defining and pursuing an ICP.    What You Will Learn:  Factors to consider when building an ICP profile   How to determine the market with the best ICP for your product   Having one vs. multiple ICPs   Standout Quotes:  “Choose the highest probable segment that has plenty of prospects, the ability to pay, and a repeatable process and go after it exclusively.”   “Every single ICP requires a different marketing motion, message, and competitive card.”   Let’s Connect!  Rachelle Kuramoto  LinkedIn: https://www.linkedin.com/in/rachellekuramoto-atlanta/    Christy Johnson  LinkedIn: https://www.linkedin.com/in/cjohnsonatlanta/    BIP Ventures  Website: www.bipventures.vc  LinkedIn: https://www.linkedin.com/bipventures/  Instagram: https://www.instagram.com/bipventures/  Twitter: https://twitter.com/bipventures  YouTube: https://youtube.com/@bipventures
The Startup’s Guide to ICPs: Why They Matter & How to Get Them Right
May 22 2024
The Startup’s Guide to ICPs: Why They Matter & How to Get Them Right
Building an Ideal Customer Profile (ICP) is a critical first step for startups. It forms the foundation for targeted go-to-market (GTM) strategies, building customer traction, and understanding how to evolve the brand as the company scales. In other words, the ICP is the guiding beacon for every aspect of sales, marketing, and customer success.     The process begins with understanding why the ICP is tightly framed and specific. Building the ICP should engage collaboration from teams across the organization. Involving various departments ensures the ICP accurately reflects the needs and preferences of the most valuable audience. Once built, this profile becomes the foundation and driver for tailored strategies to attract, convert, and retain key target customers – ultimately driving sustainable business success.    In this mini-episode, BIP Ventures General Partner and Chief Performance Officer Christy Johnson explains how to define an ICP that effectively attracts, converts, and retains the most important audience for the business. She considers the need for a sufficient market size and budget, as well as the challenges of targeting only the largest companies. The conversation also explores the concept of having multiple ICPs versus focusing on one, highlighting the benefits of focus and the potential internal distractions of having too many targets. The main takeaway is the importance of clarity and focus in defining and pursuing an ICP.    What You Will Learn:  Factors to consider when building an ICP profile   How to determine the market with the best ICP for your product   Having one vs. multiple ICPs   Standout Quotes:  “Choose the highest probable segment that has plenty of prospects, the ability to pay, and a repeatable process and go after it exclusively.”   “Every single ICP requires a different marketing motion, message, and competitive card.”   Let’s Connect!  Rachelle Kuramoto  LinkedIn: https://www.linkedin.com/in/rachellekuramoto-atlanta/    Christy Johnson  LinkedIn: https://www.linkedin.com/in/cjohnsonatlanta/    BIP Ventures  Website: www.bipventures.vc  LinkedIn: https://www.linkedin.com/bipventures/  Instagram: https://www.instagram.com/bipventures/  Twitter: https://twitter.com/bipventures  YouTube: https://youtube.com/@bipventures
Building a Top 5 Innovation Economy
May 16 2024
Building a Top 5 Innovation Economy
In this episode, Donnie Beamer, the Senior Technology Advisor for the City of Atlanta, discusses the ATL Tech Hub initiative and the city's efforts to become a top five innovation and technology investment ecosystem. The conversation highlights the importance of technology in creating a safe and effective city, as well as the need to provide opportunities for all residents. They also discuss the unique advantages of Atlanta, such as its diverse industries and accessible community. The episode concludes with a discussion on the city's plans to increase capital availability and support student entrepreneurs through a co-op program and pitch competition. Takeaways The ATL Tech Hub initiative aims to make Atlanta a top five innovation and technology investment ecosystem.Technology is crucial for creating a safe and effective city, as well as improving the citizen experience and operations.Atlanta's unique advantages include its diverse industries, accessible community, and the willingness of leaders to support and collaborate with entrepreneurs.The city is working to increase capital availability and support student entrepreneurs through programs like a co-op program and pitch competition. Standout Quotes "To be a safe city, one that's a government that's effective, a place that's built for the future, all that is gonna require technology.""Atlanta treats venture capital dollars very, very well in terms of batting average and then outcome, multiple of outcome, multiple of invested capital.""Atlanta is a 10 times better city to raise a family and build and scale a business compared to San Francisco." Chapters 00:00 Introduction01:21 ATL Tech Hub Initiative and Economic Priorities04:16 Atlanta's Unique Advantages for Entrepreneurs06:12 Increasing Capital Availability and Supporting Student Entrepreneurs25:56 Plans to Achieve Top Five Innovation Ecosystem Status35:42 Conclusion About Donnie Beamer Donnie Beamer, CFA was appointed by Mayor Andre Dickens as Atlanta’s first-ever Senior Technology Advisor. He serves as the Mayor’s chief liaison with the tech sector and assists with shaping policy and programs to grow the ecosystem. Beamer also works with Invest Atlanta to attract new companies to the city, grow existing ones and advises the Administration on fostering Atlanta’s technology workforce. Prior to joining the City, Beamer was the General Manager of LotVision Automotive at Cox2M, Cox Communication’s commercial IoT business line and was responsible for the product roadmap and strategy for their flagship vehicle tracking and telematics platform. Beamer was also an Atlanta tech entrepreneur, leading the Monsieur team that created an automated bartending system that was deployed in movie theaters, hotels, and sports & entertainment venues. Although his first job out of undergrad was in investment management at BlackRock in NYC where he served institutional clients and earned his CFA charter. Beamer studied Economics as a Division I student-athlete at the Georgia Institute of Technology and earned an MBA from The Wharton School at UPenn. Social Channels – Company LinkedIn: @city-of-atlanta You can learn more about them at https://www.atltechhub.com/ Social Channels – Guest: Donnie Beamer LinkedIn: @donniebeamer https://www.linkedin.com/in/donniebeamer/ About Mark Buffington Mark Buffington is the founder of BIP Capital and the Managing Partner of BIP Ventures. Since founding BIP Capital in 2006, Mark has led the venture capital firm to its position as one of the most active and recognized brands outside of Silicon Valley. Mark has led investment rounds in more than 80 companies in numerous industries (Healthcare, Digital Media, Ed Tech, Enterprise SaaS, FinTech, and Advanced Computing). Notable investments include Vendormate, Ingenious Med, QA Symphony/Tricentis, PlayOn! Sports, Huddle Tickets, Tropical Smoothie Cafe, Cypress.io, ConnexPay, REACH Health, Trella Health, Shareholder InSite and Aspirion Health Resources. Mark earned an MBA from the A.B. Freeman School of Business at Tulane University and a B.S. from the Georgia Institute of Technology (where he lettered as a varsity baseball player). Mark serves on the board of directors of several companies, including the NFHS Network, AchieveIt, Trella Health, PlayOn! Sports, UserIQ and ConnexPay. He also serves on several nonprofit boards, including Buckhead Coalition, Inc. and the Georgia Tech College of Computing.
How Startups Can Avoid Sales and Use Tax Missteps
Apr 17 2024
How Startups Can Avoid Sales and Use Tax Missteps
As startups grow and expand, they must comply with the ethical and tax laws of the state. Interestingly, taxation can be both an advantage and disadvantage for a company, which is why tax experts become so crucial for startups. In this episode, Stephen Bradshaw joins us to discuss key tax considerations for startups, including identifying when your goods or services are taxable, analyzing your risk exposure to sales tax, mitigating or minimizing your sales tax burden, and handling tax compliance if you are a scaling startup without a dedicated tax team. Stephen, a Partner at Bennett Thrasher specializing in State and Local Tax, offers expert guidance to software companies on sales and use tax matters. His focus includes conducting nexus studies, advising on tax categorizations, negotiating voluntary disclosure agreements, preparing for diligence processes, and establishing best-practice procedures for automated sales tax software like Avalara. Stephen's insights have been featured in prestigious publications such as the Atlanta Business Chronicle, Accounting Today, Thompson Reuters, and the Georgia Society of CPAs. Before joining Bennett Thrasher, he spent five years at Deloitte Tax, LLP in the Multistate Tax Services division, providing state income/franchise tax consulting, compliance, and ASC 740 (provision) services to major corporate clients. Tune in! What You Will Learn: [01:42] Stephen Bradshaw's insights on how to determine whether your services are taxable   [09:19] The process of understanding your level of risk exposure and compliance [14:50] Negotiating voluntary disclosure agreements, time and cost [18:43] Ways to minimize or mitigate sales tax exposure [25:04] Best practices for scaling startups who cannot afford to hire a sales tax team or staff [28:35] Instances where startups can put a hold on sales taxes  Standout Quotes:  “If your product or services are simple, such as a Saas company, it is recommended to work with an advisor to help you figure out the right categorization of your products for taxation purposes.”- Stephen Bradshaw [04:35]  “Getting a tax exemption certificate is a great way to mitigate prior expenses.”- Stephen Bradshaw [21:01] Let's Connect: Stephen Bradshaw LinkedIn: https://www.linkedin.com/in/stephenbradshawbt/ Website: https://www.btcpa.net/  BIP Ventures: Website: www.bipventures.vc LinkedIn: https://www.linkedin.com/bipventures/ Instagram: https://www.instagram.com/bipventures/ Twitter: https://twitter.com/bipventures YouTube: https://youtube.com/@bipventures
Interview Skills and Pitfalls for Startup Founders 
Feb 23 2024
Interview Skills and Pitfalls for Startup Founders
The secret to enduring success is not just a strong leader but the entire team. And that is especially true for fast-growing, small startups – which is why effective interviewing skills are so vital. Unfortunately, many startups struggle to grow because they lack adequate hiring practices and have not mastered the art of conducting interviews to recruit the right talent.   In this episode, BIP Ventures SVP of Portfolio Performance Jacki Hertenstein interviews talent specialist Renata Mathison of Aquesst. Their discussion covers the key ingredients for successful interviews:  start by clearly defining your ideal candidate profile, assemble a panel with specific questioning roles, leverage a structured interview guide, and prioritize assessing the candidate's experience. Renata is the Managing Director and Co-founder of Aquesst, a specialized Information Technology search firm. Aquesst has sourced talent for hundreds of organizations ranging from small businesses to mid-sized enterprises to Fortune 500 companies. Renata brings a wealth of recruitment experience. You’ll come away with a sense of how to identify individuals who possess the required technical expertise and align seamlessly with the culture of the organization.  What You Will Learn: [01:26] Foundations that companies need to have in place before an interview process [02:15] How managers and business leaders can do to sell their company during an interview [03:15] How Renata's company helps customize interview guides [03:58 ] Coaching tips for your hiring manager when evaluating candidates [04:55] How leaders can select external staffing partner that fits for them [07:48] Evaluating culture-fit values for your company [08:44] The good and bad of integrating AI in the hiring process [09:59] Why a candidate’s experience is one of the underrated things in hiring [11:34] Remote vs in-person interview process and where to leverage more [12:33] Current state of diversity within the hiring process and weight is projected to go [13:59] Hiring tips to ensure compliance with ethical laws  [15:07] Things inexperienced interviewer can do to ensure good candidate experience  [18:16] The selection process in different organizations  Standout Quotes:   “For critical leadership roles, never interview the candidates remotely. It is better to incur the costs through in-person interviewing, rather than having the wrong person.”-Renata Mathison [11:31] “If you have an office or hybrid environment, never hire anyone remotely. If they are not willing to spend their time to come to your office, there will be a challenge.”-Renata Mathison [11:40]  LinkedIn: https://www.linkedin.com/in/renatamathison/  LinkedIn: https://www.linkedin.com/company/aquesst/  Website: https://www.aquesst.com/  Email: r.mathison@aquesst.com  Mobile: 678-358-9363  BIP Ventures  Website: www.bipventures.vc  LinkedIn: https://www.linkedin.com/bipventures/  Instagram: https://www.instagram.com/bipventures/  Twitter: https://twitter.com/bipventures  YouTube: https://youtube.com/@bipventures
Build the Sales Team From the Ground Up
Feb 23 2024
Build the Sales Team From the Ground Up
Investing in hiring skilled sales professionals or managers is essential for business growth. They are critical in driving revenue, expanding market presence, building customer relationships, and staying ahead of the competition. In this value-packed conversation with John O'Brien of Sales Talent Group, we discuss the key considerations for sales hiring in a company.   John highlights when to hire a salesperson or sales manager, emphasizing the importance of assessing current workload, market demand, and growth projections. He gives insights into the qualifications to look for in candidates, including strong communication skills, resilience, industry knowledge, and previous sales experience. John also touches on indicators for when it might be necessary to replace a sales manager, such as declining performance, poor team morale, or a misalignment with company goals.   A seasoned executive in the field of sales, John specializes in placements across the United States. As the Founder, CEO, and Managing Partner of Sales Talent Group, he oversees the day-to-day operations of the Professional Sales Search Division, focusing on both outside and inside sales professionals across various leadership levels. With a track record of success, John has consistently ranked in the top three among over 600 nationwide sales professionals during his 15-year tenure at Lanier Worldwide. His experience includes roles such as Sales Manager in New Orleans, Louisiana, National Sales Trainer, and Director of Marketing & Sales Center in Atlanta, Georgia.  Key moments: [00:01] Introduction to the show with John O’Brien and his backstory in sales   [02:21] When is the right time to do sales hiring in a company? [06:01] The two different schools of thought in sales [08:05] The process of job design in sales hiring  [10:38] The role of the company’s board in finding the right sales candidate [11:43] Key qualifications to consider in your first hire of a sales professional [14:58] Why attitude, aptitude, and desire are key considerations when hiring a salesperson  [16:08] The financial aspect of the sales manager and how startups can navigate [22:17] Job titling mistakes to look for [30:10] Common mistakes entrepreneurs make when hiring a sales manager [31:35] Guidelines on when to let a sales professional leave the company [38:49] What portfolio companies mostly struggle with as it relates to hiring Standout Quotes:   "Frequently, the first sales hire is super difficult because most of the times we don't know what the trigger is."- Christy Johnson [1:55]   "Job design boils down to what needs to be done. Nobody ever gets fired for their lack of doing. Usually, it is for what they did not get done."- John O'Brien [08:05]  Let's Connect  John O'Brien  Sales Talent Group  LinkedIn: https://www.linkedin.com/in/johnsalestalentgroup/  LinkedIn: https://www.linkedin.com/company/sales-talent-group/  Website: https://salestalentgroup.com/    BIP Ventures  Website: www.bipventures.vc  LinkedIn: https://www.linkedin.com/bipventures/  Twitter: https://twitter.com/bipventures  YouTube: https://youtube.com/@bipventures
Strategic Hiring for Startup Success
Feb 23 2024
Strategic Hiring for Startup Success
For startup growth companies, recruitment is a cornerstone of success. Effective strategies are paramount in finding the right talents, building a cohesive team, driving innovation, achieving milestones, and scaling operations. Many startup founders need help attracting top talent due to limited resources and intense competition. A proactive approach can help to find individuals with the necessary skills and company alignment.   In this episode, BIP Ventures CPO Christy Johnson speaks with Haley Devlin and Jason Moore from DNA Partners about recruitment strategies for startup growth companies. Haley Devlin is a Growth, GTM, and Operations Consultant with over a decade of expertise in sales, marketing, and product leadership. Jason Moore is a specialist in operations, sales, and executive leadership. He founded and scaled two companies. Together, these industry experts share tips for setting up a successful recruitment approach that builds a winning team, leverages strengths, and establishes a solid foundation for sustainable growth.   What You Will Learn: [00:01] Introduction  [01:30] 1st, 2nd and 3rd hire foundational aspects of building great teams  [04:15] Common mistakes startup growth companies make in recruitment  [11:25] What to consider when making your first hire as a technical founder  [13:33] The skillset or talent that you need for your first sales hire  [17:44] How to get started with your business content foundation  [20:22] Building up your sales deck based on what your go-to-market needs [22:54] Evolving your offering, messaging, and packaging as part of your processes  [27:35] How to  pull and execute your intentionality and purpose from the beginning   [31:30] How to bake your core values into the fabric of your company [37:15] The most surprising patterns across the portfolio-based companies  Standout Quotes:  "Over-titling is not necessarily costly upfront, but it could cost real long-term pain down the road."- Jason Moore [6:08]  "There is a balance that must be struck between the right background and skill and the right kind of EQ and soft skill at the early-stage company experience."- Haley Devlin [7:22]  "Take your time in the hiring process because it would be a costly and painful mistake if you hire the wrong person who is not a true partner for you."- Haley Devlin [08:01]  "When hiring, trust and compatibility is first and foremost even before the skill because the skill can come; if the skill is there, but there is no trust and compatibility, it's not going to work out" - Jason Moore [11:12]  Let's Connect  Haley Devlin and Jason Moore   Website: https://www.dnapartners.org/  LinkedIn: https://www.linkedin.com/in/jasonmoore/  LinkedIn: https://www.linkedin.com/in/haleydevlin/    BIP Ventures  Website: www.bipventures.vc  LinkedIn: https://www.linkedin.com/bipventures/  Instagram: https://www.instagram.com/bipventures/  Twitter: https://twitter.com/bipventures  YouTube: https://youtube.com/@bipventures