Assertion certainty 3/5 debate potential 2/5

Fukuyama: 90% of lost prospects do nothing instead of choosing competitors

Taro Fukuyama · 946 He Changed Ideas 7 Times at Y Combinator, Now 500,000 Employees More Engaged Because of Him · Feb 25, 2018 · at 7:09

Taro Fukuyama, co-founder and CEO of employee engagement platform Fond, explains who Fond really competes against in the sales pipeline.

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“Mainly, 90% of companies who don't end up working with us typically don't end up doing anything. So, biggest competitor, it's not direct competitors.”

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Insight
Fukuyama: Millennials require instant workplace recognition like social media feedback
“Recently, especially a lot of millennial are so used to post on Snapchat, Instagram, and once you do it, five seconds later, they get likes or comments. So that type of instant recognition is getting so important, but that's what they require in the workforce …”
Taro Fukuyama Feb 25, 2018 ▶ 3:46 946 He Changed Ideas 7 Times at Y Combinator, Now 500,000 Employees More Engaged Because of Him
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Focusing on logo churn over revenue churn misleads enterprise SaaS companies
“Focusing on logo churn could kill us to, you know, focus on the wrong thing, so we tend to focus on the revenue side.”
Taro Fukuyama Feb 25, 2018 ▶ 12:58 946 He Changed Ideas 7 Times at Y Combinator, Now 500,000 Employees More Engaged Because of Him
Disclosure
Fond is currently fundraising and keeping revenue numbers private
“Yeah, we're a little sensitive right now for the funding, so if you could keep the, if you could not touch about the revenue, that'd be helpful.”
Taro Fukuyama Feb 25, 2018 ▶ 5:55 946 He Changed Ideas 7 Times at Y Combinator, Now 500,000 Employees More Engaged Because of Him
Insight
Fukuyama: Founders should build a 'minimum sellable product' over an MVP
“So I think this is a concept called like MS MSP instead of MVP. It's like a minimum desirable desirable, sorry, minimum sellable product that if there is a person that's going to be willing to pay, then most likely you can find a second one. And if you can get…”
Taro Fukuyama Feb 25, 2018 ▶ 9:56 946 He Changed Ideas 7 Times at Y Combinator, Now 500,000 Employees More Engaged Because of Him
Disclosure
Fukuyama: Fond expands via multi-product lineups rather than going upmarket
“Our strategy is less for going to the market, more so to expand to the more product lineups so that, that's why we added second and third product recently.”
Taro Fukuyama Feb 25, 2018 ▶ 14:13 946 He Changed Ideas 7 Times at Y Combinator, Now 500,000 Employees More Engaged Because of Him
Disclosure
Fond charges companies roughly $5 per employee monthly
“How we make money is we charge a fee from company based on the company size. So we typically charge around five dollar per employee per month.”
Taro Fukuyama Feb 25, 2018 ▶ 2:01 946 He Changed Ideas 7 Times at Y Combinator, Now 500,000 Employees More Engaged Because of Him
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