What’s the Big Unlock for a New Venture

This post is by David Cummings from David Cummings on Startups

Last week, I was catching up with an entrepreneur who used a term that really stood out to me. While speaking of his new venture and the opportunity ahead, he said, “The big unlock was a change in industry regulation.” He explained how this change in industry regulations made his new tech venture not only viable but also presented a huge opportunity. This conversation made me ponder other “unlocks” that led to new opportunities and ventures ultimately becoming winners. Thinking about Pardot, our “big unlock” was the shift from offline to online for B2B buyers. Before, B2B marketers were mostly engaged in marketing tactics around trade shows, direct mail pieces, magazine ads, and other forms of traditional media. As the world went online, led by consumers, business buyers naturally started to spend more time on the internet for their business purchasing decisions. Thus, the shift from offline to online was the big unlock for Pardot, providing email marketing, landing pages, CRM integration, drip programs, and everything else connected to running online marketing campaigns. Considering Salesloft in a similar vein, more and more companies were shifting to inside sales, with a heavier emphasis on internet-led motions around email, social media, phone calls with conversational intelligence, and Zoom meetings to sell their products. The shift away from field sales, where sales reps meet with prospects face-to-face, to internet-led selling, where the sales reps were primarily working from home or from the office, and needed a new platform, created a huge opportunity (Read more…)