Neeraj Agrawal, General Partner at Battery Ventures, discusses executive hiring stages for scaling enterprise software startups.
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“So sometimes the person who's right for you for zero to 20 is not the person who's going to be the executive that takes you from 20 to 200.”
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More from Neeraj Agrawal
Insight
Enterprise buyers only buy software for their top two pain points
“I'll tell you the one thing I've learned is that if you're addressing something that's pain point number three, four or five on somebody's list, they just never get around to it. They just don't have enough time to buy that solution.”
Neeraj AgrawalApr 18, 2016▶ 15:4320VC: The Best Determinant Of Product Market Fit & Why Prior Experience Is Not Required For Founder Success with Neeraj Agrawal, General Partner @ Battery Ventures
Insight
Agrawal: Deal structure and price terms do not matter for winning investments
“What I've learned through that deal and many others since then is you should really be willing to do a deal regardless of the exact terms that you get, the exact structure you get, because that's how you really test your conviction in an investment thesis. You…”
Neeraj AgrawalApr 18, 2016▶ 22:2220VC: The Best Determinant Of Product Market Fit & Why Prior Experience Is Not Required For Founder Success with Neeraj Agrawal, General Partner @ Battery Ventures
Insight
Agrawal: Prior experience is not required for founder success
“Prior experience is not required for success.”
Neeraj AgrawalApr 18, 2016▶ 10:2020VC: The Best Determinant Of Product Market Fit & Why Prior Experience Is Not Required For Founder Success with Neeraj Agrawal, General Partner @ Battery Ventures
Insight
Agrawal: Mis-hiring a sales leader delays startups 12 to 18 months
“It's a high-risk game, because if you pick the wrong person, you're not going to know that for at least 12 or 18 months. And many times that's the difference between the number one and the number two person in a market, is that critical 12 or 18 months.”
Neeraj AgrawalApr 18, 2016▶ 18:5320VC: The Best Determinant Of Product Market Fit & Why Prior Experience Is Not Required For Founder Success with Neeraj Agrawal, General Partner @ Battery Ventures
Disclosure
Battery rejected $400M offer before selling Brighttree for $800M
“This is a SaaS software company in the healthcare space, and we had offers to sell the business for, say, a four hundred million dollar range. After a long conversation with the CEO, we collectively decided to turn that down and to keep going, and we were fort…”
Neeraj AgrawalApr 18, 2016▶ 20:2320VC: The Best Determinant Of Product Market Fit & Why Prior Experience Is Not Required For Founder Success with Neeraj Agrawal, General Partner @ Battery Ventures
Insight
Agrawal: Ideal target markets start near zero and inflect within 18 months
“In the ideal world, what you're looking for is actually a market that might be close to zero today. And that's going to be like 500,000,003 years from now. And it's really the new opportunity, however you want to define it. And there's a rapid and Rapid growth…”
Neeraj AgrawalApr 18, 2016▶ 6:5720VC: The Best Determinant Of Product Market Fit & Why Prior Experience Is Not Required For Founder Success with Neeraj Agrawal, General Partner @ Battery Ventures
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