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Conversation
Highlights
Welcome to another episode of Category Visionaries, the show that explores the future of tech with innovative B2B founders. In today’s episode, we’re speaking with Parry Bedi, CEO and Co-Founder of Tingono, a revenue retention platform that has raised nearly $7 million in funding.
Key topics discussed in this episode:
- Parry’s background as an engineer, starting his career at Microsoft, then co-founding his first machine learning company with a business school classmate, which was later acquired by Forrester
- The positive experience of staying at Forrester for nearly three years post-acquisition, enjoying the freedom to run the business while being part of a larger company
- The insights from Jim Collins’ “Good to Great,” emphasizing the need to be ten times better than incumbents when starting from scratch and the importance of assembling the right team from the start
- The origin story of Tingono, born from the frustration of relying on anecdotal evidence to predict customer churn and expansion opportunities at Forrester, and the desire to create a data-driven, scientific approach
- The progression of data in SaaS, from companies lacking data to being inundated with it, and the evolution of tools from Salesforce (1st gen) to CDPs and data warehouses (2nd gen) to Tingono’s holistic view of the customer journey (3rd gen)
- The target market of SaaS companies with recurring revenue and standard go-to-market apps, and Tingono’s ability to identify leading indicators of churn and expansion by stitching together siloed data
- The challenge of standing out amidst the noise surrounding machine learning and artificial intelligence, and the importance of demonstrating value through the product, storytelling, and the team
- The value of working with design partners to build the product collaboratively, validate insights, and ensure the solution meets real-world needs
- The greatest challenge of building a great team from scratch, especially in a competitive talent market, and the focus on hiring for talent rather than specific skills
- The motivation and excitement of creating something from scratch and witnessing the evolution of an idea into a real product that smart people are passionate about
- The five-year vision of enabling predictable growth for SaaS companies, moving beyond predictable revenue to automated orchestration and optimization of growth velocity
Actionable
Takeaways
Identify and Solve Real-World Problems:
Look for pain points and inefficiencies in your own experiences and validate them with other companies in your target market. Use these insights to guide your product development and ensure you're addressing genuine needs.
Collaborate with Design Partners:
Engage with early adopters who are willing to share data, provide feedback, and help shape your product. This collaborative approach ensures you're building a solution that delivers tangible value and meets the demands of your target customers.
Focus on Talent Over Skills:
When building your team, prioritize hiring talented individuals with a strong work ethic and adaptability, rather than focusing solely on specific skills. Skills can become obsolete quickly, but talent will always be in high demand.
Demonstrate Value Through Product and Storytelling:
In a crowded market, differentiate yourself by showcasing the unique value your product delivers and crafting a compelling narrative around your solution. Let the proof be in the pudding, and let your team's expertise and passion shine through.
Evolve Your Vision as the Market Matures:
As your target market and the broader industry landscape evolve, be prepared to adapt your vision and product roadmap accordingly. Anticipate the next stage of maturity and position your company to lead the way in delivering even greater value to customers.
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