Everything Garen Hess said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Hess: Transitioning from SMB to enterprise is harder than starting over
“Moving from small business to enterprise focus will be as hard or harder as starting your company over. Starting your company in the first place. And it was actually really good advice and I've appreciated that because even though I knew it was going to be cha…”
Hess: Consensus enterprise segment grows 50% amid flat overall revenue growth
“Right now we're seeing pretty flat growth because we've been seeing a change in our focus, so we've been focusing mostly on enterprise, and so we've seen a growth rate of about 50% annually in our enterprise, but overall we've been pretty flat just because we'…”
Hess: Building custom content for clients was a massive mistake
“The problem is the content phase building out Content turned out to be a massive mistake.”
Garen Hess recommends Riverside Acceleration Capital over competitors like Lighter Capital
“I would highly recommend them to any entrepreneurs looking around for that out there because I looked at a lot of other firms like lighter capital and others and nothing against the other firms, but these guys have been awesome.”
Hess: Consensus expects enterprise expansion to fully offset churn
“We really expect to be able to make all of that up at some point through expansions because we're starting to have some expansion, you know, very large expansion discussions with some of our enterprise customers.”
Consensus average deal size is about $17,000 per year
“Average deal size is about 17,000 dollars a year.”
Hess: ADP split test showed 44% increase in close rates with Consensus
“ADP, when they first came on back in 2014, they started with 80 sales reps and they did the split test for 90 days where they had every rep, every other deal they would use consensus as part of the sales conversation. And sales process. And then they compared …”
Hess: Lack of content is the main reason SMB customers churn
“Six months after they bought the software, They don't have content, and I would say that's the number one reason that the small business accounts are churning because they just struggle to get the content in there.”
Hess: Consensus experiences approximately 28% gross revenue churn
“Yeah, gross revenue churn's been at about 28%.”
Consensus typically enters accounts with around 25 seats
“We typically get in a lot of companies have about 25 seats. And then they scale up from there.”
Consensus spends $14,500 in CAC to acquire a $17,000 ACV customer
“We spend about 14, five.”