What happens when Competition raises more funding than you.
It is unnerving for founders when their competition raises more funding. Especially, when that rival imitates our product features. In spite of that, Kalyan says imitation is the highest level of flattery. On the other hand, well funded rival could act as validation to our product model and set a benchmark for betterment of our business.
Do we stand a chance in the market when our competition rises more funding? How to find solution to this external threat and outsmart our opponents? How to stop worrying and focus on our customers and product?
In this video our mentor Kalyan Varma, illustrates us on strategy when competition raises more funding. He is the co-founder and CEO of profitable Indian Saas Company Almabase, Alumni management software. Moreover he has strong technology background from NIT and good start-up experience.
Value SaaS Series focus on businesses surviving in their path to first million. They bootstrap or raise tiny external investments. During this period they iterate rapidly to create a growth engine for scaling to $10Mn and beyond. By accessing & deploying founder-ownership friendly capital, they grow rapidly and thrive.
Organization that is able to make $1 of revenue through less than $1 of spend is a Value SaaS Business. Veeva, Zoho, MailChimp, Atlassian, BrowserStack, even SalesForce, are all Value SaaS startups – they made more than $1 Mn ARR with less than $1Mn in spend.