The Other MVP
When you present your company to would-be investors, the normal course of subjects includes your product. You will invariably demonstrate what your product does and how it does it differently from the competition. The product demo to would-be investors rarely goes wrong, as most technology works.
Investors who have lived through the success and failures of enterprise software generally evolve to recognize the difference between those that win and those that fail. The winners hit their bookings estimates early and often; the investor knows now that everything is going to be alright.
From this understanding, both investors and eventually-strategic buyers learn to look at the existing sales process (of a would-be portfolio company) to determine if it matches the pattern of one that will win. If you are in the early adopter market, you may be getting dragged into meaningful sales growth without the required method for larger sophisticated prospects, but you may not have the eventually-required pattern. This impacts whether or not you can get investors and the price at which you get their money.
In the same way you will demonstrate your product, you need to demonstrate at least the prototype of a process that follows your vision of selling to big accounts at the corporate level (and if eventually you can't do this, you will find very little interest in your company). This requirement can be referred to as Minimum Viable Process. Minimum Viable Process reveals to your prospective investor that you understand the larger motion that is required and that it is this understanding that, to them, makes you attractive. Our advice to you is don't wait.
Any experienced golfer can see the swing of someone who played when they were young versus learned later in life. The investor wants the natural swing that was acquired early versus the mechanical swing formed later.
If your SaaS company wants help establishing a sales process, please either ask Virtual Dave or email dave@moicpartners.com.
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Virtual Dave is an AI-based virtual sales support tool trained on 40 years of enterprise software sales experience, available 24/7 to enhance sales process consistency. Curious? Try him out for yourself by clicking HERE.
