Ep 28 - Google Drive

That was a big one where we basically have to say, "As successful as this inside direct sales, online sales actually, motion is in the United States, that's not going to be successful in Japan. We got to go spin up this channel." Another good example was India. Our price point was ridiculous. At the time, there's a bunch of quantitative things you can use, but a simple one was the Big Mac index which is like, "What's the relative cost of a Big Mac in different countries?" and you use that as a benchmark for pricing. We were literally like five plus X what we should have been and so did a major pricing overhaul which enabled us to then drive online scale.

Ep 28 - Google Drive

He is quite a chef. He has a unique background and that he has a physics and quantum background, is a chef, also worked at Stripe in BizDev for five years and understands the aerospace world. He is head of Federal at Zipline. In some ways, I joke that he was forged in a kiln to build to work at my startup. I'm very excited that we got him and thank you for training him up, but I would love to understand a bit of some of the more impactful projects, and maybe some of the scaling challenges along the way. I'm sure going from 10 to 300 always is a bit messy. Maybe some of your more exciting areas, especially around recruiting and scale up as well as making data-driven, sales-related decisions around how to structure teams, comp, where to go to market, etcetera.

Yeah, all right, well, that's a lot to cover. Let's see. A couple things maybe tactically that I might highlight for folks. One of the first things I did when I came in was to build out what I would call an operating model. Company walked and have your top down revenue model, "We want to do 10 million ARs," whatever that number is, but a lot of people forget to build the bottoms up part, which is what actually needs to be true for us to get 10 million in revenue. When I joined, Stripe didn't have that model. One of the first things I did was to get data on our current funnel. We were very inbound driven, "How many inbound leads are we getting? What's the average size of them? What's our win rate? How long does it take to close? How long does it take to go live?" that whole end-to-end funnel.

"On each part of that funnel, okay, well, how do we get more leads? We had a one-person marketing team, so it's probably not going to be through marketing spend. That means it's going to have to be outbound, right? What's going to be our prospecting plan? How do we do that?" Average deal size, we were working pretty darn small deals, so that meant you were going to have to do lots and lots and lots of them or you're going to have to work bigger ones. That was where we developed a strategy that I've talked about in a couple other places around buffaloes, which were basically like a Series C, D company. Those, you can go to Crunchbase or wherever and just be like, "Let's go get a list of all the Series C and Series D companies. Let's go put them on a prospecting list, work on that." Similar things of like, "What can we do to drive our conversion rate?" We didn't have any sort of sales process.

I guess can you talk through some of the challenges of that transition of going from primarily SMB and bottom up driven to actually doing some level enterprise top down and not only the go-to market motion for it or the sales motion, but the actual, I assume, post-sale actual implementation, technical success, I imagine it's much more complicated than those types of implementations.

They basically would come to us and say, "Jeanne, our business model as a marketplace, you guys have deployed and emailed 100 marketplaces. What's the best way to do it?" We'd be pretty annoyed when we wouldn't be able to say, "Here's the template." We had to start doing documentation more oriented toward product managers as an example and slightly less technical audiences. That was one set of things. The other thing I'll say that I think is helpful both for the founders as well as the go-to market leaders trying to help drive up market was we were very, very thoughtful about trying to pursue the enterprise in a way that capitalize on what Stripe was good at.

That was a big one where we basically have to say, \"As successful as this inside direct sales, online sales actually, motion is in the United States, that's not going to be successful in Japan. We got to go spin up this channel.\" Another good example was India. Our price point was ridiculous. At the time, there's a bunch of quantitative things you can use, but a simple one was the Big Mac index which is like, \"What's the relative cost of a Big Mac in different countries?\" and you use that as a benchmark for pricing. We were literally like five plus X what we should have been and so did a major pricing overhaul which enabled us to then drive online scale.

Yeah, all right, well, that's a lot to cover. Let's see. A couple things maybe tactically that I might highlight for folks. One of the first things I did when I came in was to build out what I would call an operating model. Company walked and have your top down revenue model, \"We want to do 10 million ARs,\" whatever that number is, but a lot of people forget to build the bottoms up part, which is what actually needs to be true for us to get 10 million in revenue. When I joined, Stripe didn't have that model. One of the first things I did was to get data on our current funnel. We were very inbound driven, \"How many inbound leads are we getting? What's the average size of them? What's our win rate? How long does it take to close? How long does it take to go live?\" that whole end-to-end funnel.

\"On each part of that funnel, okay, well, how do we get more leads? We had a one-person marketing team, so it's probably not going to be through marketing spend. That means it's going to have to be outbound, right? What's going to be our prospecting plan? How do we do that?\" Average deal size, we were working pretty darn small deals, so that meant you were going to have to do lots and lots and lots of them or you're going to have to work bigger ones. That was where we developed a strategy that I've talked about in a couple other places around buffaloes, which were basically like a Series C, D company. Those, you can go to Crunchbase or wherever and just be like, \"Let's go get a list of all the Series C and Series D companies. Let's go put them on a prospecting list, work on that.\" Similar things of like, \"What can we do to drive our conversion rate?\" We didn't have any sort of sales process.

They basically would come to us and say, \"Jeanne, our business model as a marketplace, you guys have deployed and emailed 100 marketplaces. What's the best way to do it?\" We'd be pretty annoyed when we wouldn't be able to say, \"Here's the template.\" We had to start doing documentation more oriented toward product managers as an example and slightly less technical audiences. That was one set of things. The other thing I'll say that I think is helpful both for the founders as well as the go-to market leaders trying to help drive up market was we were very, very thoughtful about trying to pursue the enterprise in a way that capitalize on what Stripe was good at.

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Google Drive allows users to share drive contents with other Google users without requiring any authorization from the recipient of a sharing invitation. This has resulted in users receiving spam from unsolicited shared drives. Google is reported to be working on a fix.[120]

John List: Sure, you're exactly right. It is very different than how my colleagues have come to be economists. So, I started in a little village called Sun Prairie Wisconsin as a kid. My father was a truck driver and my mother was a secretary. And it was sort of an ordinary kind of humble beginning in the sense that I was very loved, but education really wasn't that important when I was a kid. Now, what was important to me was sports and, in particular, I loved golf. When I went to college, I went on a partial golf scholarship. So first goal was to be a golf professional. That was it. 041b061a72