The Sales Hacker Podcast
The Sales Hacker Podcast

Episode · 1 year ago

Friday Fundamentals 124: Matt Melymuka

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Friday Fundamentals 124: Matt Melymuka

Hey everybody, it's Sam Jacobs. Happy Friday, welcome to Friday fundamentals. You know Friday fundamentals. It's that short five to ten minute format where we bring you actionable insights to help make a difference in what you do. Today we've got this week's guest back on the show, Matt Meliemucca. He is a partner and a founding partner at Peaks Bank capital, which invests in early stage but growth stage software businesses. Matt's focuses on the sales technology segment and he's going to talk about the number one mistake that he sees most early companies make. Now, before we get there, we want to thank our sponsor. Friday fundamentals is brought you by outreach. Outreach triples the productivity of sales teams and empowers them to drive predictable and measurable revenue growth by prioritizing the right activities in scaling customer engagement with intelligent automation. Outreach makes customer facing teams more effective and improves visibility into it really drives results. Matt, welcome back to the show. Thanks, Sham, appreciate it. We're excited to have you. So we put it to you. The question of the day. What's the number one mistake you see most early stage companies make? So I will...

I will recite a quote that one of the founders I worked with you said to me once that I'll never forget, and it was he said most companies don't die of starvation, they die of indigestion. And I think what really resonated with me about that was, you know, biting off more than you can chew is certainly detrimental, if not fatal, and I see it a lot. I see it really kill companies. You know, when you're when you're trying to reintroduce operational risk in pursuit of an outlier outcome, if you're partnering with a Growth Stage Firm like us, you've already gotten to the point where you've taken so much risk off the table, you've gotten product and market you'd largely kind of figured out, at least, you know, solidifying, and so to reintroduce operational risk in the form of, you know, hiring a cohort of twenty reps right out of the shoots, versus, you know, a cohort of three or four and learn from it and kind of test and iterate your way from there. That's the biggest thing that I see company stubb their toe on. The founder who reference that quote to me said I knew it was coming off the rails. He was the founder of a business...

...which was a real monster that we sold last year for seven hundred million bucks. That will remain nameless. Mosli, he said. I. She said I knew it was. I knew it was coming off the rails when I was walking down the hall of our office after we had just raised a big growth round from a tier one firm and somebody I just hired two weeks ago was training somebody. And so it's just a great example of, you know, the unnatural things that you kind of are forced to do sometimes when you take on too much money or pursue that kind of growth at all cost mantra. So the recommendation is, don't pursue growth at all costs. And you know what, do you have a like a prescription for how people should should act and sort of in the in the aft, in the affirmative way? Sure, yeah, the juxtaposition I would offer is, you know, really just test and iterate your way into kind of the resilient model and the resilient value creation. You want to pursue really a PRI applied process centricity. Make sure you have the foundation, the enablement tools and it just the program set up to specifically for sales, which is, you know, one of the...

...one of the hardest things to nail is consistent, repeatable, scalable go to market. Just make sure you have everything in place and then hire a small group of Reps, learn from that group and it kind of refine your process all the way from recruiting to enablement to onboarding to training and ramping and kind of ongoing success. So really just iterate your way there versus, you know, taking the leap of faith right off the bat. Awesome, great advice and frankly, it's advice that we teach at cro school and Revenue Collective, so I love to hear it. Remind us if folk whon I get in touch with you, what's the what's the best way to get in touch? Sure you can reach me at Matt at Peakspan Capitalcom, Amatt at peak spa, N C API, talcom. It's first time I've ever spelled that, so hopefully it was right. I'm sure you would know better than we would. So we really appreciate have me on the show. Sam Truly. Yeah, we we loved having you a congrats on on your new baby girl and...

...and we're so excited to partner with you over at revenue collective. Folks, if you want to reach out to me, you can linkedincom for the wood in form F Jacobs. Otherwise, I will talk to you next time.

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