Salesforce

“The company scale from four co-founders in an apartment to one hundred and seventy six million dollars in revenue within five years.”

“And I fundamentally believe that this process for setting direction, setting goals, communicating those clearly has acted as the backbone for the business to grow from zero to 50,000 over the last two decades.”

“It was in that fifth year that Salesforce went public on the New York Stock Exchange under the extremely fitting ticker of CRM. And on the first day of trading, the stock went up 55%.”

“The first is that the foundation for your company's culture and its values are seated on day one. I fundamentally believe that. I think it's possible to shape culture in the later years of business, but I do not think you can just change it all together.”

“Salesforce staged a mock protest outside of Cybell Systems, the competitor I mentioned. They had a user conference, and Cybell was the largest CRM at the time. Salesforce literally hired protesters to carry large signs that said the end of software, had them c…”

“On day one, the team launched one percent, which was this model of giving where One percent of the company's time, one percent of its revenue, and one percent of its product are given to charity.”

“V to mom has been adopted across Salesforce where every single employee in the company, all 50,000 people draft their own V to mom. And then they posted on the company's internal social network. For everyone to see.”

“It's a two hundred ten billion dollar company in terms of market cap, over 50,000 employees, 21.3 billion in 2021 fiscal year revenue.”

“The best analogy for thinking about this Intuit acquisition is them buying MailChimp Is to SMBs what Salesforce buying Slack and other companies is for enterprise. Basically, Salesforce has been trying to buy the full stack for enterprises to be able to grow a…”

“Everybody submits a plan, and typically that plan has to grow a minimum of 20%, because that's just, like, Mark Benioff's thing. We grow 20% every year. And if you're hitting the plan, you meet with him once a quarter. And if you're missing the plan, you meet …”

“And of course, if that works, that should clearly be a hundred billion dollar company. You know, if Salesforce is a two hundred billion dollar company and it runs the sales team, An entity that runs the entire company should be worth more.”

“Salesforce followed Christensen's disruption theory to a T, first offering their lower-priced cloud CRM product to small businesses, who are used to using pen and paper to keep track of customers because the Cybele and SAPs of the world were far too expensive …”

“ServiceNow was also bootstrapped with no more than 6.5 million dollars in external funding. Only the second cloud software company after Salesforce to hit a billion dollars in revenues, ServiceNow reached two billion dollars in revenue just two years later.”

“Once you rely on Salesforce's CRM, it's often not worth switching platforms. It can take months to retain your workforce and cost hundreds of thousands or even tens of millions of dollars to recreate business logic on the new platform.”