Owner.com

“There's a company I'm on the board of called owner.com, which is kind of like AI for restaurants are crossing a hundred million in revenue growing really quickly. It's got a hundred folks on the sales team.”

“With AI, he's trying, he's targeting three to five million in revenue per rep.”

“Most vertical SAS companies had no downturn, so-called downturn. And you know, I w I did, I was with the Sierra of owner this morning. They had no downturn in restaurant SAS.”

“All of our new SDR and BDR hires are five days a week in office in Toronto now.”

“The two new ones broke the record for first month, the newest BDR in person broke the record for first month, and then the SDRs that are at month two and three both broke the previous records. This is the purely in-person team.”

“Now we also use this company called data lane. They're like zoom info for SMB essentially. And through data lane, we get 95% of our leads mobile enriched.”

“But now our call to DMC is like, 13 to 16%.”

“When I started, we were 90% inbound, and then at some point we were 70% outbound. And then we hired a new head of growth who's done an amazing job, and now we're 60% new inbound”

“We aim to have roughly four demos booked per AE per day with three held.”

“Our BDRs only get paid on close one business. Alignment. Our account executives only get paid when their customers go live.”

“When we changed comp to include EGBV, which means they are going to be more focused on the higher value customers for the business, our estimated MRR on a per deal basis went up pretty significantly.”

“Our inbound account executives close 250 K ARR every month.”

“On the outbound side, we have two BDRs for every account executive.”

“We hired people that manage The YouTube experience for like the biggest creators in the entire world. And we were paying millions of dollars for this organic strategy when it was driving like a handful of leads every single month.”

“We just tried CTV and didn't have a ton of success with it. Connected TV. So running pre-roll ads on Amazon Prime or the, like, set-top boxes.”

“A lot of one call closes, but average sales cycles under a week.”

“So we don't do pipeline review. We don't do deal review because you can just see it on a dashboard. It's all programmatic.”

“And our competitors who run that model, we're anywhere between like three and four times more productive on a per rep basis than most companies.”

“We haven't had as much success hiring senior reps, like reps with a whole bunch of experience. We've actually had more success hiring people In like a two to four year experience range.”

“I have a lot of respect for Toast. Good product craft. Their GTM execution is really good. They operate in a pretty, like, respectful way, too. Like, we don't find Toast doing shenanigans to their customers.”

“And we're also having the CR of owner. They just announced yesterday, they raised it a billion dollars. They're at over forty million growing, 10% a month.”

“What is the top line revenue growth? What's the close one number that that's important, but you can't manage that. I can't manage day to day deals closing. I can only manage the inputs of my team, and that's where I want to spend time.”

“We're SMB. We have a four day sales cycle, highly transactional. We sell to mom and pops.”

“This is how you understand what's happening in your business at any given time at the snap of your fingers. This should be quite easy. You shouldn't need biz ops or data to requests to understand what's happening.”

“And so just as much as we have control towers for us as leaders to understand the business, we need to equip our individual contributors, our frontline teams with a similar level of understanding, but framed a little bit differently.”

“And so we can have concepts of a plan in our head and ideas of where things are going to go. But until you write that down, you're just juggling things. And this is, I think where people often go wrong is just a lack of documentation.”

“So one of the key tools under planning is this, we do it monthly. I write a monthly game plan, which now the functional leaders largely write. And so this is where I take stock of everything that happened in the previous month.”

“It's just when we've done a lot with Kyle from owner that, and they've got thousands of small restaurants, phone is zero there. The owner will never, the owner is working. You can text, like they do a lot. They do in person and text, but phones is zero, right?…”

“We started at three. We're just passing 20 right now.”

“So I joined June, twenty-twenty-two, and massive inefficiency in the business, mostly driven by early churn. We were closing tons of deals. The sales number looked pretty good, but you know, rampant misalignment of customer fit, customer quality, the handoff, …”

“So last year we grew two and a half X burn multiple under one four and a half to one LTV CAC.”

“We basically turned away 40% of closed ones that we would have closed 30 days before I got there.”

“We went from having a 40% contact quality, because we sell SMB, contact data is, is pretty horrible, to an 80% contact quality with this whole system, the enrichment system, this AI model.”

“Every single month, every BDR on my team kicks out over 60,000 dollars in closed one ACV.”

“I would strongly advocate that sales leaders should own onboarding.”

“I move people out of the business that are, like, pretty close to quota. Like, they could be okay performers. I'll still exit them from the business if they're consistently at the bottom of the stack rank.”

“We went from Three to six million in that sort of half year. We went six to 16 last year. We've strung together a bunch of 10% month over month growth months. So we're, we've just broken through twenty-one million in ARR in 22 months.”

“We've reduced calc pretty significantly and we've operated with a one or a sub one burn multiple.”

“We grew two and a half X last year while operating in an LTV CAC of four and a half to one.”

“We said no to about 40% of prospects who we 15 days prior would have gladly closed one.”

“Each BDR ranks out like over 80, over 60,000 dollars in close one ARR every single month.”

“So we originally had a three percent call to connect rate. So a rep making a hundred calls would talk to three prospects. Really tough to make that work from a scale perspective. And now it's hovering around like 14 to 16% DM call to DMC decision maker connect…”

“Hiring these two leaders on contract. So they were both from in my network. I could do it with a lot of trust and they started doing contract work with us like 10 hours a week and 15 and 20 until the team was big enough. And our ARR run rate was big enough to …”

“You'll have to do a cleanup, but I can, I could produce content at probably like two to four X the speed doing this.”

“As you build more and more structure, comp should match sort of the complexity of that role. We've got scripts and playbooks and training and people you can learn from now, and the product is so proven. And so we're finding more efficiency by right-sizing comp…”

“Seems crazy to have two BDRs for every AE in an SMB business, but if your BDRs are generating six to 10 to 12 closed-wind deals cold every single month because we figured out the data piece, it's a compelling product, then it's counterintuitive. It might feel …”

“We've more than doubled per month bookings, like aggregate per month bookings, and the size of the team has basically stayed constant.”

“A restaurant that sells a different product and maybe has table service is a very different business than a pizza shop, which is a very different business than a coffee shop. Now, They may all have the similar need of commerce, which is what a company like own…”

“Owner.com. Jason introduced me to the company. Jason's an investor. Their bottleneck is implementation. They have a lot of demand. They have a lot of customers that are signing up. And right now it's just taking too long to onboard those folks that are raising…”