Rags Gupta > Quotes

“Explicitly ask for feedback. Have the customer play the value back to you. Receiving candid feedback is paramount when pitching. You won’t know what went right, or more importantly, wrong, unless you hear directly from the customer. One effective tactic, toward the end of the meeting, is to ask the customer for their impressions. I like to say, “In the final minutes, I’d love to zoom out a level and get your take on what you’ve seen or heard and how it matches your expectations.” If they answer with polite platitudes, probe further: “Are there specific areas that resonated for you and also ones that you have concern about that we ought to know?”
― Rags Gupta, One to Ten: Finding Your Way from Startup to Scaleup

“Before you can present a win-win deal, you must understand it. Sketch out the fundamental value exchange for each party. The customer is hiring you to solve certain problems and achieve value. That is the foundation of your working together. Like any foundation, it needs to be strong and will be tested over time. Sometimes, when you’re seemingly down a dead end, reverting to the first principles will illuminate another way forward.”
― Rags Gupta, One to Ten: Finding Your Way from Startup to Scaleup

“A related tactic is asking them to play your value back to you.54 This works especially well when the customer has been reticent to give feedback. I was nervous to do this when this was first taught to me. What if the customer couldn’t do so? What if I didn’t like what I heard? But that’s the point. You want to know if you landed your value proposition or what parts of the pitch didn’t stick, something like, “You’ve clearly seen a lot and are very advanced in your thinking. I’m curious, what value do you see, if any, in what we’re doing?”
― Rags Gupta, One to Ten: Finding Your Way from Startup to Scaleup

“First-time founders mistakenly ascribe too much power to their prospects. This manifests in sharing too much information, demos, and access to yourself without getting enough in return. Don’t make this mistake. Remember, the customer has big problems that you, with your insight, team, and technology, are uniquely suited to solve. The companies you’re selling to are worried about being disrupted from below or having their direct competitors steal a march on them. They need innovation, which you represent, to surpass the competition and prevent disruption.”
― Rags Gupta, One to Ten: Finding Your Way from Startup to Scaleup

“He mentioned five elements that really set the deck apart from the rest. Here’s what you need, according to Andy: Name a big, relevant change in the world. This should be an “indisputable truth.” “E-commerce will accelerate post-COVID19-pandemic” is a good example. Show there will be winners and losers. The point here is to give anxiety to the customers that may fall on the losing side. At Videoplaza, we cited the transition from analog to digital in video streaming and monetization with Netflix and Amazon as the winners thus far. Tease the promised land. Instead of introducing your product immediately, talk instead about the future state, about your founding insights to give the prospect a glimpse into the future. Introduce features as magic gifts for overcoming obstacles to the promised land. This is where your product comes in with its ability to get the customer to the other side. Present evidence that you can make the story come true. Case studies, customer testimonials, analyst quotes, product demos—all of these are appropriate in telling this part of the narrative.”
― Rags Gupta, One to Ten: Finding Your Way from Startup to Scaleup

“The OKR framework, famously espoused by Intel and then Google, is effective to bring transparency and accountability across functions. It also enables autonomy because each function or individual determines how to achieve the key results that will impact their objectives.”
― Rags Gupta, One to Ten: Finding Your Way from Startup to Scaleup

“Structure Win-Win Deals Before you can present a win-win deal, you must understand it. Sketch out the fundamental value exchange for each party. The customer is hiring you to solve certain problems and achieve value. That is the foundation of your working together. Like any foundation, it needs to be strong and will be tested over time. Sometimes, when you’re seemingly down a dead end, reverting to the first principles will illuminate another way forward.”
― Rags Gupta, One to Ten: Finding Your Way from Startup to Scaleup