Everything Manny Medina said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Medina: Goldman Sachs tells companies $200M ARR is new IPO baseline
“200 is a new 100. So you can't, it's no longer a hundred... That's what Goldman is telling everybody.”
Improve CAC performance by reducing initial deal size and accelerating expansion
“The way that you actually manage better performance on a customer acquisition basis over time is by reducing your land and accelerating your expand.”
Medina: Outreach leads sales engagement market in accounts and revenue
“So we know by the numbers that we are the one that with the most accounts and the most money.”
Medina: Public equity allows SaaS companies to cap base salaries
“I want to do what Amazon is doing, which is they pay their salaries fairly, they're fairly low, but the, each employee is capturing the entire upside of their execution because of the market reward. You see what I mean? Exactly. It's a beautiful position to be…”
Medina: Outreach CSMs have renewal targets and upside commissions without firing quotas
“They are not quota carrying per se, meaning they don't get fired, they don't hit quota. But they do have a renewal target.”
Medina: Outreach leads the sales engagement market in accounts and revenue
“So we know by the numbers that we are the one that with the most accounts and the most money”
Medina: Gross-margin-adjusted CAC payback should never exceed 20 months
“You never want payback to be longer than 20 months. Gross margin adjusted.”
Medina: Outreach targets $17 million in new quarterly bookings by late 2019
“So the stretch goal is to get to about I think it's like 17, I think seventeen million dollars a quarter.”
Medina: Starting a company is not that hard and looks harder than it is
“That starting a company is not that hard. It looks a lot harder than it is.”
Delaying decisions goes long on the status quo and short on optionality
“A no decision is a decision not to do something, and that's very important, because most people think that if you can't make a decision right now, and you punt, that you're getting free time, and it's not true. When you decide to stay a status quo, he thinks o…”
Outreach's predecessor achieved unprecedented 45% to 50% cold email reply rates
“And we would have, and so what we found out is that we would get 45 to 50% reply rates on cold emails.”
Outreach funded its pivot using a heavily discounted convertible note
“What we did is that we built the initial version of outreach, and then we sold a note at a significant discount from the previous valuation.”
Outreach achieves over 100% net expansion revenue year-over-year
“Oh, it's well over a hundred percent.”
Medina: Outreach has to go public
“I think that we have to go public.”
Medina: Gross margin-adjusted CAC payback should never exceed 20 months
“You never want payback to be longer than 20 months. Okay. Gross margin adjusted payback.”
Medina: Healthy SaaS companies should maintain 65% to 80% gross margins
“Most SaaS companies will have roughly, like, assuming there's nothing weird, right? Like, you don't have a big component of, like, you know professional services, et cetera. Like, assuming all that, you're, you know, a good, healthy SaaS company should be runn…”
Medina: Outreach net revenue retention is in the 140% range
“We managed to have our net retention is in the one forties right now because of that.”
Medina: Outreach maintains a 1:1 ratio of implementation managers to AEs
“At this point, we have one-to-one.”
Medina: Maintaining 70% adoption and capturing workflows reliably triggers expansion
“We have proven here internally that by doing that, You hit expansion triggers.”
Medina: Outreach is adding over $10M in bookings quarterly
“We passed the ten million dollar quarter mark last, last year. So we're now adding over ten million dollars a quarter every quarter.”
Medina: Founders should raise double the capital needed for cash flow positivity
“The way, the broader way to think about this is, is, is play it all the way out to cashflow positive or to some kind of like give it that number and then figure out how much money do you need to get there and then double that. And then that's your new minimum.”
Medina: ZoomInfo uses SDRs to drive expansion revenue
“Henry, Henry's a genius because he has SDRs doing his expansion.”
Medina: $200M ARR is the new $100M threshold for IPOs
“So you can't, you know, 200 is a new 100.”
Medina: Outreach has to go public
“I think that we have to go public.”