The other day, in a company meeting, we were discussing a recent customer win after an intense bake off against some of our top competition. We learned that many of our competitors’ investors were petitioning on their behalf. Through all of that, our investment firm stayed quiet and we won the company’s business on the strength of our product, proving that our product can stand on its own.
You can try to upsell prospects on flawed architecture or make claims about features you don’t have, but as effective as strong sales and marketing can be in driving awareness, when push comes to shove it’s the strength of the product that sells and keeps customers.
An investment firm that argues on behalf of its portfolio companies is a display of no confidence in the company’s product or its ability to sell. It says “this product is not strong enough to sell itself so we have to intervene to secure our investment.” We here at Bitglass believe in our product and clearly so does our investment firm.
So, should your investment firm fight for you? Really the question should be, does your investment firm need to fight for you? If the answer is yes, then that tells us everything we need to know about your product.