And it`s really great to criticize the sellers and criticize someone like, “Why did we give this discount? Why did we do that? Why not? And he really has great insight. So the problem, if you go really wide in your lead gene and in your sales business, is that not all restaurants are equal, right? There is such a variety of restaurants. Who are you the best customer? Are these restaurant chains 5 or 10 locations? Is it like mom and pop shops? Is it the specific restaurant like Asian cuisine, Mexican cuisine that is better? Do they have to deliver? Do they have to have a Yelp account? And from day one, we actually developed a software called Close, which was a kind of internal secret sauce. We never intended to launch this software. But we recruited people with that. We have improved our own lives. It`s an insider sales tool. And finally, it became so popular that we decided to publish it last year in January. And because we separate the meeting from the local office, we can support the salesperson in real time by posting intermediate passages on the salesperson`s website without the customer seeing them. There`s a lot more to see. There are many more moving parts. Today, you are this business.
Tomorrow you`ll be a whole new company. It takes a whole different degree of flexibility and agitation and someone who feels comfortable with the mess of a startup. And it`s not like, “Where`s my sales equipment? Why isn`t the commission structure already perfect? Do you know why this is not already a proven model, that I can just follow the instructions and I will do 200k here? It won`t be a pleasant exercise until you`ve made it a habit and a part of your life. That is not the case. It won`t be easy. It won`t be painless. It`s going to suck for a while. You can`t handle this level of pain, you`ll never succeed with outgoing sales. Period. On the right? What for? It was written by a lawyer for a big law company who almost certainly did not support a high-speed sales team. And that`s why it`s far too long, complicated and accountable.
It will create endless redlines, phone calls and will be forwarded by your prospects and clients “to our lawyer to take a look.” It doesn`t matter to large companies-ish deal. But it will be a major obstacle to selling in smaller, more transactional sales. In fact, if your interested sends a 3k agreement to legally check… Legal can be so busy, it is never checked. And the market never closes. But it wasn`t just Demo Day that helped us raise money. Compared to fundraising in Europe, the Bay Area process is extremely efficient and favourable to the founders. Pre-Series A investments are usually made through a standardized, simple agreement called SAFE, which is 5 pages long. The company receives an investment in exchange for granting the investor rights to future equity in the company similar to a share warrant.
There are no lengthy investor negotiations on investment terms and no expensive lawyers or notaries who need to be involved.