After a week of events in which some fundamental questions seemed to be avoided, we plucked 3 areas in which we think it is time to face-in.
1.Is Pricing the un-recognised blocker for scaling your tech firm?
When asking firms their blockers to scale, panellists answered in unison: talent, smart funding, partnerships, marketing.
Pricing is under-leveraged, and firms are burying their heads in the sand about the impact it is having on driving scale.
Getting to the roots of a firms pricing structure seems to be unacknowledged. From tiered models (Hubspot) to modular (Bloomberg) – Enterprise (Salesforce) to grassroots (Splunk, Atlassian.) Firms know different models pose problems to their business model, but there is a void of clarity on which one will sit at the heart of their business model.
2. Are you hoping the same approach will produce different results?
It is time to stop blaming sales for the lack of closed deals & start considering how you are incentivising behaviour with the product. Firms are often failing to self-challenge. Progress is being compromised by self-belief with a lack of evidence.
Daniel Pink evidenced what we are getting wrong, such as expecting to be analytical in the “trough” of the afternoon (for most!), which highlighted a theme for the week. We see the ‘old’ approach cause friction & dissatisfaction, but change is not instigated before the damage is done – look at The Presidents’ Club.
3. Are you craving change but operating in a vacuum?
Without dissatisfaction with the status quo change from within will not happen. Cathy Lyall spoke on Thursday evening at Fintech Influencers in an incisive way. She explained her shift from the trading floor to supporting startups to raise capital. Cathy is doing something about this for early-stage capital markets fintech (see Seismic Foundry) – recognising the void – but many are not. The same could be said of the events with the same topics, panellists & points of view. We must become more demanding of ourselves and stop listening to the reverberations of the fintech echo-chamber.
Firms must establish the critical challenges and face into them. This will lead them to stop talking about changes and start implementing them.