404: Perseverance in SaaS: Navigating Pivots, Exits, and New Ventures - with Jake Stein
Jul 25, 2024
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Jake Stein, CEO of Common Paper, shares his entrepreneurial journey, pivots from RJ Metrics to Common Paper, challenges in launching the platform, and strategies for B2B customer acquisition. Topics include validating ideas through customer development, providing free products for customer acquisition, and the importance of focusing on immediate value for customers in SaaS.
Focusing on standard contracts for B2B SaaS companies distinguishes Common Paper in the market.
Pivoting towards complex agreements helped Common Paper align better with customer needs and gain traction.
Offering ungated free products and valuable content marketing are key strategies for lead generation at Common Paper.
Deep dives
Focus on Providing Standardized Contracts
Common Paper provides standardized contracts and contract management software for B2B software companies. Jake and his co-founder faced challenges with finding product-market fit in the early years of their previous venture, RJ Metrics. The focus on creating standard agreements and managing them efficiently distinguishes Common Paper in the market.
Struggles with Initial Product Focus
Common Paper initially focused on NDAs but faced challenges in gaining traction with enterprise customers, resulting in zero conversions during months of discussions. They recognized the importance of pivoting their focus towards more complex agreements for B2B SaaS companies to align better with customer needs.
Value of Free Tools and Contracts
The use of ungated free products like standard contracts and customizable tools plays a significant role in lead generation for Common Paper. By offering free access to key resources, they enhance user experience, providing valuable services without imposing barriers such as email signups.
Content Marketing for Lead Generation
Content marketing, particularly how-to guides and explainers tailored for early-stage B2B SaaS companies, has been crucial for Common Paper's lead generation strategy. Addressing common questions and providing valuable resources has helped attract and engage their target audience.
Importance of Persistence and Not Giving Up
Jake's success as a founder is attributed to his persistence and determination to overcome challenges, often continuing despite seemingly insurmountable obstacles. His ability to persevere in the face of adversity and consistently pursue his goals has been a key factor in his entrepreneurial journey.
Jake Stein is the co-founder and CEO of Common Paper, a platform that provides standardized contracts and contract management software for B2B software companies.