Join us in this episode of the B2B SaaS podcast as we deep dive with Suresh, co-founder and CEO of Sales Table AI, a sales readiness platform aiming for repeatable quota attainment.
Hello everyone.
2
:Welcome to the B2B SaaS podcast.
3
:I'm your host . Today we have with uss.
4
:Here is the co-founder and CEO of
a company called Sales Table ai.
5
:Right?
6
:Hey Reh, welcome to the show.
7
:Suresh Madhuvarsu: Hey,
uh, hello everyone.
8
:Uh, Hey Upendra, first of all, uh, it's
an honor to be part of your podcast.
9
:I've definitely seen a lot of great
entrepreneurs coming and then providing
10
:their insights and their experiences.
11
:And the way I really think of it is,
uh, I've been a full time founder at
12
:this point of time and every journey
is very different and every journey is.
13
:And at the same time, painful, right?
14
:I think, uh, I'm really at a point where,
uh, I love to, uh, talk about not just
15
:about the, uh, Uh, good points about the
entrepreneurship and being a founder,
16
:but I think, you know, there are also a
lot of, uh, pain that people go through.
17
:And I think, uh, it's really
important for, uh, the people in the
18
:founder community, entrepreneurship
community to talk through.
19
:So that it's not just about the great
side of the things, but there are
20
:also, uh, on the dark side of the
things that we need to talk through.
21
:Upendra Varma: So, alright ish, so before
we sort of get into sales table, right,
22
:so I see that you like, I think I as
you already mentioned, you full-time
23
:SaaS, like fulltime founder, right?
24
:So what sort of companies have you
like sort of tried to build in the
25
:past and what happened to them?
26
:Just, are they in B2B or
are they something else?
27
:Like, just, just, can you
give us a sense of that?
28
:Suresh Madhuvarsu: Yeah, absolutely.
29
:I mean, uh, my entire life has
been, uh, B2B, uh, I would say
30
:enterprise, um, uh, products.
31
:That's really where, uh,
I grew up, I would say.
32
:Uh, and, um, the first company
was really about a, uh, B2C by the
33
:way, but it's really about, uh,
bringing Kids, parents together.
34
:Uh, it's a tech, uh, company
almost about, uh, 15 years ago.
35
:And, uh, that, that's even before Facebook
came out with groups, for example.
36
:Right.
37
:Uh, so that, that's really
the idea over there.
38
:And then, uh, we ran it for about
a year and a, uh, year and a half.
39
:And then the financial, um,
downturn began in the us.
40
:And, um, uh, I think, you know, clearly
at that point of time, there was no,
41
:uh, clear, uh, uh, product market
fit, but at the same time, I think,
42
:you know, the financial downturn
didn't really help us to really get
43
:to the next, uh, milestones for us.
44
:Uh, so that, that was the first one.
45
:Um, and the second one was, uh,
really all about, uh, How do we
46
:bring in the service oriented
architecture into the enterprise space?
47
:And, uh, uh, we actually build
it and then, uh, we actually
48
:sold it to Software AG.
49
:And, uh, a lot of, uh, lessons learned.
50
:That was completely a VC backed, uh,
company, but, um, within five and a half
51
:years, we were able to kind of, you know,
get it to, uh, exit, uh, out of that.
52
:And, uh, the third company was.
53
:really in the space of
construction, uh, management.
54
:And, um, uh, that is the company.
55
:Really think of it as a lot of
construction project management
56
:happens, uh, in the offices, right?
57
:Uh, that's really where
you plan a project.
58
:That is where you Uh, people think
of it as the execution happens
59
:unfortunately at the site, right?
60
:But Uh, there is no proper way
to really understand, you know,
61
:how do we collect the data?
62
:What kind of progress has been made?
63
:All that and that's what we were
able to kind of, you know Bring it
64
:using the mobile apps and the cost
management and all that Um, that's
65
:the company that was sold to oracle.
66
:Um, and uh, that, that was the last one.
67
:And then of course, I mean, you
know, sales table is, uh, the
68
:one, uh, that we are building now.
69
:So, uh, I'm really excited about
everything that we've done in the past.
70
:A lot of lessons learned for sure.
71
:Upendra Varma: All right.
72
:That's, that's a lot of exits as well.
73
:Right.
74
:So, and, and like, what keeps on,
like, what, what does keep, like,
75
:how do you keep on building things?
76
:Like what keeps on going?
77
:Right.
78
:So what, what's, what's the,
what's the goal for you?
79
:Right.
80
:So do you just keep on building stuff?
81
:Right.
82
:What excites you the most here?
83
:Suresh Madhuvarsu: Yeah,
that's a great one.
84
:I think at some point of time, again,
For me, uh, after, uh, probably
85
:seven years into the workforce is
when I realized that, uh, I really
86
:take pride in building things right.
87
:You know, I really love
that process of zero to one.
88
:Uh, when I say zero to one, it's
really about, Hey, you know what?
89
:You have a big idea.
90
:And then, uh, to really make sure
that that is, that idea makes sense.
91
:It, it provides value to somebody.
92
:And then take that idea to
something as a product and
93
:then build a company out of it.
94
:And then getting the first
customers, um, getting the first
95
:employee and really talking to
your customers, prodding the value.
96
:That is the process that I love.
97
:Um, and, um, On the same side, I,
I really suck or I will be really
98
:a bad employee per se, right?
99
:You know, I just can't, uh,
really fit in big companies.
100
:That's not really, uh, me.
101
:Uh, so I think, and again, the reason
why I'm mentioning this is I think, you
102
:know, everybody has their own personality.
103
:Everybody has their own
way of doing things.
104
:And, uh, in the founder
entrepreneurial journey.
105
:It's very, very, very important to
really realize who you are, what
106
:you like, and really go from there.
107
:Right?
108
:Because.
109
:A lot of, um, friends and, um, family
members who are in the big companies,
110
:they will say, Hey, you know what,
I'm really, uh, taking this, um, uh,
111
:idea to, uh, product, you know, it
is like a startup in my big company.
112
:And then I say, sorry,
no, it's not a startup.
113
:Right because you don't have the same
pain you have a brand, you know people
114
:associate you with that brand And then
you don't have the problems in paying the
115
:employees You're not really looking at you
know, whether I can pay these employees or
116
:not You are not looking for the payroll,
but I think you know that's really where
117
:we need to really see where you are
comfortable with and Really get to that.
118
:So To your question, I think, you
know, that's really what drives me
119
:Upendra Varma: makes sense.
120
:So let's come back to
sales table for now, right?
121
:So like what, what does
sales table do, right?
122
:And what's the product about and
who are the customers that primarily
123
:using this particular product?
124
:Suresh Madhuvarsu: So, uh, we, we think
of a sales table is a sales readiness co
125
:pilot for repeatable quota attainment.
126
:So let me tell you what that is, right?
127
:So when you think about, uh, sales
leaders, a huge part of their life
128
:is really thinking about, Hey,
what, what, what are the, um, uh,
129
:what is the quota that I have?
130
:I mean, how do I make sure that
my team is performing and they
131
:are able to attain that quota?
132
:And then not just about, you know, one
particular quarter, but then over a period
133
:of one year, and then in big companies,
we actually kind of, you know, plan it out
134
:for the next five years, in terms of the,
Uh quota and then how do we want to kind
135
:of do the revenue growth and everything?
136
:and uh in many cases in the last uh,
four five years or so uh, we've been
137
:definitely seeing a challenge in terms
of the growth rates have um come down
138
:and then the Sales cycles have gone.
139
:Um, the duration has become really
huge and then people are not
140
:making decisions and all that.
141
:So again, And a lot of it really comes
down to the fact that 80 percent of the
142
:salespeople are not hitting the quota.
143
:That's super unfortunate.
144
:That's the number one thing.
145
:Number two, according to a latest
report last year, Only 17 percent
146
:of the salespeople hit the quota,
which basically means that 80 percent
147
:of the people didn't hit the quota.
148
:Right.
149
:So now when the way we think about
a sales table is there is so much
150
:of activity that happens, you
know, the, in the sales table.
151
:sales side of it, we want to make
sure that we want to give back
152
:the time to sales leaders so that
they can go and do the strategic
153
:activity and the vision planning.
154
:And then we want to give the right
tools and confidence to sales reps.
155
:So that when they go in front of
a prospect, they are confident
156
:on how to sell the product.
157
:I mean, the pain points, and then really
understand the whole pitch as itself.
158
:And, uh, that's really what
we do bring confidence to
159
:sales reps using sales table.
160
:Upendra Varma: Got it, right.
161
:So just, uh, let us help us
Just let me help you understand
162
:the customer base today, right?
163
:So like how many active paying customers
you have on sales table right now?
164
:Suresh Madhuvarsu: Yeah, sure.
165
:So the way we've uh, started
this journey is about two years
166
:back we launched our product.
167
:And then, uh, at this point of time,
uh, we have 150, uh, beta customers, uh,
168
:who are, who have validated our product.
169
:And then, uh, we are close to 15
paying customers at this point of time.
170
:And, um, uh, we are very proud
of, I think, you know, the journey
171
:that we have taken because.
172
:We wanted to initially provide and
then really see uh, who are those beta
173
:customers who is really excited and
then the kind of uh Um, usage metrics
174
:that they are providing and clearly, I
mean, you know, sometimes in the last
175
:three years because of the economy,
because of, uh, what is happening
176
:in the international markets, you
know, a lot of things change, right?
177
:I mean, which basically means the ICP
or the ideal customer profile that
178
:we define probably three years back
is not relevant right now anymore.
179
:And that's exactly what, um, uh,
we had to pivot along the way.
180
:And then make sure that we are
serving the right customers.
181
:Upendra Varma: Okay.
182
:And what, like, just, uh, sort of
what's the profile of this customer?
183
:So how big of a deal are we talking about?
184
:It is the, are the SMBs, big market
enterprises, like, just, can you
185
:just help us understand that?
186
:Suresh Madhuvarsu: Absolutely.
187
:So initially when we started, we really
started with what we call as the SMBs,
188
:I think almost two years ago, right?
189
:And the one thing that we realized with
the SMBs is that, uh, while there is a
190
:lot of pain point for them, especially
because of the, uh, External factors with
191
:the economy and everything, the spendings,
the budgets have cut down and then the
192
:people are cut down, unfortunately, and
they don't have somebody who can take on
193
:the role of having the tools implemented,
or even have somebody evaluate the tools.
194
:And I think, you know, that has
become, you know, a bigger challenge,
195
:especially in the last couple of years.
196
:And then that is one reason
why we moved to mid market.
197
:I think, you know, mid market
is, uh, is still growing and then
198
:there is a greater need out there.
199
:And we especially kind of, you
know, really focus and then provide
200
:value to sales leaders, right?
201
:Think of it as sales ops, uh,
CSOs and then CROs Uh, and then
202
:even the sales enablement teams.
203
:Those are the teams that Take a lot
of value from sales table So that at
204
:the end of the day sales reps are the
ones that we really focus and make sure
205
:That they are getting the right value
when they go in front of our customers.
206
:Upendra Varma: Got it.
207
:So can I assume like these, these
deals are on 10, 20, 000 deals
208
:that these 15 paying customers
209
:Suresh Madhuvarsu: Yeah, absolutely.
210
:I mean, uh, so we go anywhere
between 20 to 24k per year.
211
:Upendra Varma: that makes a lot of sense.
212
:Yeah.
213
:And like, just help us understand, right.
214
:So the, the, how you've driven
this 150 beta customers, right.
215
:So how have you worked with them?
216
:Like, like what's that, you know,
uh, you know, lead generation
217
:look like for you, right.
218
:So.
219
:Suresh Madhuvarsu: Yeah Um, so
There is, uh, definitely I would
220
:say, uh, outbound is, uh, by even
though it is not a magic bullet,
221
:but that is really where we started.
222
:And when we say outbound, it's
really about the initial, the email,
223
:uh, and LinkedIn and Facebook.
224
:I think, you know, it's a mix
of all these three things.
225
:And I mean, we, we kind of mix and
match based on, uh, the segment of
226
:the customers and whoever that is.
227
:But typically I would say at this
point of time, the outbound is
228
:really a major part of how we were
able to bring in the customers.
229
:But if we go actually, you know, two
years back, I think, you know, this
230
:is one of the things that as a, Uh
first time founder or for anybody that
231
:is super important is The question
really becomes how do I even get
232
:the first beta customer or first?
233
:You know a paying customer and one of
the things that we always looked at
234
:is Make sure that you know, you have
enough folks within your network Uh
235
:that are able to help you out, right?
236
:so really look into your network on if
you are able to bring in some of your
237
:first set of network or second level of
network whoever that is make sure if there
238
:is somebody who can Kind of you know sign
up, uh, and then really provide the value
239
:and We actually got some of the initial
five, six customers like that, right?
240
:Really somebody who are friendly, who can
provide you great value, uh, feedback.
241
:Uh, and then of course, you know,
then you go to the outbound and
242
:then get to somebody completely
unknown and, uh, all that.
243
:So that's really the journey
that we've been through.
244
:Uh, the last thing that I would say is
Even though how much ever we want to
245
:do the outbound, uh, or the inbound,
um, in terms of, uh, doing the, um,
246
:uh, right, you know, podcast, like,
you know, what we're doing now, uh,
247
:doing the webinars and then, you know,
really doing a lot of, uh, Google
248
:or LinkedIn ads and all that thing.
249
:Again, As a startup, the resources
are super constrained for
250
:anybody and then for us as well.
251
:And that is one of the part where,
uh, we are, we don't do a lot,
252
:even though we should be doing a
253
:Upendra Varma: Yeah, makes sense.
254
:Right.
255
:So, and like, what's,
what's the plan here?
256
:Right.
257
:So how do you go from, let's say,
whatever ARR you are at today, right?
258
:Maybe 200, 300 K to, let's say 1 million.
259
:Like, what's the plan, right?
260
:So are you planning to hire
somebody in terms of sales reps
261
:or like, what's the vision?
262
:How do you grow from here?
263
:Suresh Madhuvarsu: Yeah, definitely.
264
:So I think there are two parts that
we are really looking at, right?
265
:I mean, especially with the
Advent of, uh, the GPT's, LLM's,
266
:Upendra Varma: you talk about that, right.
267
:So can I assume all the 15 paying
customers that you've closed so far are
268
:primarily led, like from founded, let's
say it's like you went and closed or found
269
:us from founders actually ended up losing.
270
:Okay.
271
:Suresh Madhuvarsu: correct.
272
:Yeah.
273
:Uh, all of them are founded at sales.
274
:And then, um, we do have a great,
uh, head of sales that we were
275
:able to, uh, tap into last year.
276
:Uh, Dakota May, I mean, um, and
he's able to definitely help us, you
277
:know, bring in the great pipeline.
278
:And then, um, we get to that next steps,
but I think at the end of the day.
279
:Um, it's sales is really
founder's problem, right?
280
:Uh, I don't think we can, uh, give it
to anybody else until, of course, you
281
:know, we get to a certain stage and
then, uh, what are those trigger points?
282
:I think, you know, that really
depends, you know, varies for, uh,
283
:uh, company to company, but initially
it is really the founder who has
284
:to, uh, bring in the sales at that
285
:Upendra Varma: right.
286
:So like, what about the
engineering team here, right?
287
:So how many have, like, how many
do you have on your team today?
288
:Suresh Madhuvarsu: point.
289
:So we have a, uh, super small, uh, team.
290
:It is, uh, two engineers.
291
:They are based out of, uh, Mexico.
292
:And, um, uh, for us, yes, we, we work
out really well, you know, same timeline,
293
:and then there is a great talent that
is actually coming out of Mexico.
294
:Upendra Varma: So the two engineers are
working on building the entire product.
295
:Like your product looks
pretty complex to me, right?
296
:So there's a lot of integration
sort of stuff out there, right,
297
:that you're doing, right?
298
:So how are two engineers even
sort of handling all of this?
299
:Suresh Madhuvarsu: Yeah.
300
:I mean, uh, again, uh, I, I really kind
of, uh, bring in the talent aspect of it.
301
:Right.
302
:I think, you know, there are, Uh,
some engineers who are able to really
303
:crank up a lot of things together.
304
:And then we are really fortunate to
be able to find, uh, the engineering
305
:team who is multi talented full stack.
306
:And, uh, they're able to crank
features like, uh, super fast.
307
:Uh, but at the same time, they also kind
of, you know, push back on the things.
308
:Hey, you know what, you
know, why do we need this?
309
:Why do we need that?
310
:And I think, you know, we have
a very healthy conversation in
311
:terms of, uh, What is needed?
312
:Why, why is something needed?
313
:And, uh, that's the only way, uh,
especially in the small teams, we
314
:make a decision and then move fast.
315
:Upendra Varma: So have you
raised any external funding
316
:so far to build the company?
317
:Suresh Madhuvarsu: Uh, we haven't, I
mean, uh, the company is completely
318
:bootstrapped at this point of time.
319
:Upendra Varma: Okay, like
and what's the vision, right?
320
:So what are you looking in the
next two to three years, right?
321
:So, and just talk about from product
perspective, from go to market
322
:perspective, and maybe a couple
of, you know, key goals that you're
323
:aiming for internally, right?
324
:So that we could understand how,
where this is going to go from now.
325
:Suresh Madhuvarsu: Yeah, so I
think, you know, there, there is
326
:probably, you know, I'll just provide
a little bit of context, right?
327
:So for us.
328
:Uh, the whole, uh, advent of the AI in
general, I think, um, even though we
329
:are not crazy about just putting the
AI just for the sake of AI, I think,
330
:you know, that's really definitely not,
uh, our vision, but I think there are
331
:some parts of AI where, you know, For
example, chat GPT, the LLMs can summarize
332
:things a lot better, for example.
333
:So those kinds of summarization
techniques are very helpful.
334
:And the second part is, uh, they
can actually provide, uh, let's say
335
:sales scripts, uh, for salespeople
in a, uh, fraction of, uh, time.
336
:And those are the kinds of things we
do want to build into the sales table.
337
:I think, you know, there is a, pretty
good healthy road map that we want to
338
:build into sales table and we constantly
work with our customers in terms of what
339
:is needed and what kind of features are
really helpful and valuable for them.
340
:That's the first part.
341
:The second part is The go to market
strategy, I think, you know, we want to do
342
:a good amount of, uh, product marketing at
this point of time, uh, so that, uh, our,
343
:um, customers as well as the prospects
actually see the value, see the work
344
:that we are doing at this point of time.
345
:That's going to be very important.
346
:And of course, I mean, or the third
pillar for us is we want to be able to,
347
:uh, kind of really see Those growth hacks
in terms of the sales and uh, that's
348
:going to be important for us, right?
349
:so now fast forward, I mean for the
Next couple of years we want to get
350
:to at least a two million dollar era.
351
:That's really our goal at this point
of time and using all these, you know
352
:the product features and then the
marketing angle and then the growth
353
:hacks is really where There, uh, most
importantly, though, uh, we really
354
:feel, uh, we are blessed to have, um,
a lot of great customers who are, who
355
:constantly provide us the feedback.
356
:And, uh, that's really one of the
internal, I would say, a secret
357
:weapon that we use, uh, to really
build the right features and, uh,
358
:get the right value to our customers.
359
:Upendra Varma: So this, I'm going to
ask something very specific, right?
360
:So I think you're closing it on 20, 20,
have, has any of your customers so far
361
:asked you for any certification, security
certifications or compliance, like SOP2
362
:or ISO, have they asked you and what was
your, uh, you know, take on that, right?
363
:So did you
364
:Suresh Madhuvarsu: Yeah.
365
:Yeah.
366
:Yeah.
367
:So, uh, that's a great point.
368
:I think, you know, for any startup,
uh, in general, I think, you
369
:know, that's a constant battle
that everybody goes through.
370
:Right.
371
:I mean, um, no amount of, um, uh, feature
set is going to Make customers happy
372
:because it is just there is a constant,
uh, things that keep flowing but I think
373
:most importantly the security angle the
SOP2 compliance is something that people
374
:keep asking us and That is something
that we will provide at some point
375
:of time that is there as part of the
roadmap But I mean, for example, if you
376
:just see Uh just about this monday, we
released the HubSpot integration, right?
377
:You know now we are actually part of
uh, You HubSpot app marketplace, uh,
378
:which is a very great milestone for us.
379
:And, uh, that really brings a lot of
value for our sales reps where they don't
380
:have to, um, double enter the numbers.
381
:And then everything comes from,
um, HubSpot into sales table.
382
:It's a one place, uh, that you
have all the data to look into.
383
:So those are the kind of, uh,
valuable integrations that we
384
:will keep building for sure.
385
:Uh, and then the next thing is we're
actually planning for a salesforce
386
:integration for sure, right?
387
:So those are the things as and when We
actually get the feedback and then we see
388
:that there is a value for a lot of our
customers We absolutely want to build that
389
:but again, we need to understand right
at some point of time Every startup, you
390
:know, irrespective of whether it is sales
stable or not Uh, we need to decide on
391
:you have a limited budget limited resource
and then you know Where do you want to
392
:focus and that's really where I would
say there is a constant push and pull.
393
:Upendra Varma: Yeah.
394
:Absolutely.
395
:That makes a lot of sense.
396
:Thanks.
397
:Thanks for taking the time to talk to me.
398
:Hope your scale stays stable
to much, much greater heights.
399
:Suresh Madhuvarsu: Absolutely again
um, thanks a lot for asking all the
400
:relevant questions, I think That that
really got me, you know Started thinking
401
:about you know our growth as well.
402
:So thanks for that
403
:Upendra Varma: That, that sounds good.
404
:Yeah.