In the last post, I highlighted that SMB’s are mostly a long tail business with a majority of the market at the smaller end of the spectrum. An insight that I did not appreciate going into this market is the amount of sensitivity to price. The statement that “There are three things that are most important in SMB, price, price and price” is 100% true! With most small businesses being small and not really in it to grow this price sensitivity makes a ton of sense. So if you are a startup in this space you come across an interesting squeeze. Continue reading “Lessons learned in SMB fintech”
You’re the first PM at a startup. You are a small company with one product, searching for product market fit. You grind and preserve and you achieve the holy grail of product market fit. CEO walks over and says “It’s time to start scaling, give me a plan, how are you going to scale the product management team? Let’s chat in a few days”. At this moment you are probably thinking “whoa what? team? There is going to be more of me (PMs)?”
How can I do it? So many questions. Where do I start? How do I hire? What do I do?
Have no fear, read on.