Buzz Sentinel
  • Home
  • News
  • Business
  • Culture
  • Lifestyle
  • Tech
  • Health
No Result
View All Result
Buzz Sentinel
Home Business

SAAS Expert, Patrick Parker, Lists the Priorities Tech Startups Need to Focus on First When They Get Funded

Brad Sullivan by Brad Sullivan
October 25, 2022
in Business
0
SAAS Expert, Patrick Parker, Lists the Priorities Tech Startups Need to Focus on First When They Get Funded
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

We are what our priorities are, and it’s as simple as that. This also applies to the businesses that we run; their priorities determine their purpose and, in the long run, their success. In effect, if we sift through the history of the most successful startups in the world to date, we’ll discover the fundamental reason for their success would be getting their priorities straight. Success in the entrepreneurial world demands timely actions and getting it right.

Of course, you learn all that as you progress, but people like Patrick Parker, who has perfected the art of building million-dollar businesses in an astonishingly short time,  clearly knows the shortcuts. As an accomplished Tech Executive turned founder of SaaS Partners, a leading software company providing scalable solutions to entrepreneurs and businesses, he can help you prevent avoidable mistakes and focus on your priorities in order to expedite the attainment of a positive return on your investment.

Related posts

Understanding the Importance of Diving into Growth Marketing with Global Marketing Guru Namita Tiwari

March 23, 2023
Unlocking the Secret to Successful Business Leadership – An Insightful Journey into the Life of Dr. Courtney R. McCashland

Unlocking the Secret to Successful Business Leadership – An Insightful Journey into the Life of Dr. Courtney R. McCashland

March 22, 2023

“Unequivocally, funding is the most imperative part of kick-starting a high-growth startup as capitalization is one of most critical parts of a business; if your cash flow runs negative, your startup just ceases to exist,” says Patrick.

He says that each round of funding has different objectives and milestones. For an instance, seed/pre-seed founders try to build and launch their products in hopes of gaining early traction, hiring a few key employees, validating their initial assumptions about the market, and even possibly finding early signs of product-market fit.

“Less than 4% of startups graduate to a Series A and become eligible for funding,” says Patrick.

That is the time, believes Patrick, that startups need to focus on the following priorities to get past Series-A and ascend to the next round of funding.

Setting new goals and aligning the team

Getting funded is undoubtedly a significant achievement in itself, but it’s just the first of many baby steps. Startups need to be prudent here in making the most of the allocated funding. To that end, it is imperative to update your existing financial model and review current performance metrics. Just because you suddenly take on capital doesn’t mean that your strategy should immediately change. Therefore, it is strongly suggested to review where you are and then proceed with alignment across teams.

Take inventory of your resource needs

It goes without saying that in order to maintain consistent growth, you need to scale your team and hire the talent and set of skills that you feel are lacking in your startup. Patrick advises entrepreneurs to prioritize their hiring process and carry on with that in parallel with fundraising efforts “Make sure you are aware of the skill sets that you need to scale, and here’s a pro tip: hire in phases so that you can manage the onboarding and training processes without detracting your focus and attention.”

Set your budget

Last but not least, set a budget for new expenditures and ensure that you have the proper monitoring and reporting in place so that you can evaluate your Return on Investment (ROI) over time.

Everyone wants to see their business garnering success but practically speaking, success has its own demands. It wants you to be patient and persistent in pursuing what you want, plan and prioritize things accordingly, and put some action on display – only then do you win its favor. Tech ventures aren’t an exception.

The priorities Patrick has listed above are the result of his years of grinding in the industry. If you follow them in the true spirit, it won’t be an overstatement to say that success is guaranteed.

Previous Post

How to Challenge Your Trauma to Become Better

Next Post

Socialite and Entertainment Influencer Renee Ash Talks about Being Your Own Advocate

Next Post
Socialite and Entertainment Influencer Renee Ash Talks about Being Your Own Advocate

Socialite and Entertainment Influencer Renee Ash Talks about Being Your Own Advocate

RECOMMENDED NEWS

There is a new apple

There is a new apple

3 years ago
TikTok Creator Account vs Business Account: Which One Is Best for Your Business?

TikTok Creator Account vs Business Account: Which One Is Best for Your Business?

9 months ago
filed against Israeli Prime Minister Netanyahu

filed against Israeli Prime Minister Netanyahu

3 years ago
Simran Handa Is the Social Media Expert You Need To Stay Top-Of-Mind For Your Customers & Build Brand Authority

Simran Handa Is the Social Media Expert You Need To Stay Top-Of-Mind For Your Customers & Build Brand Authority

7 months ago

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Health
  • Lifestyle
  • National
  • News
  • Sports
  • Tech
  • Travel

POPULAR NEWS

  • WD: larger hard drives with ePMR

    WD: larger hard drives with ePMR

    0 shares
    Share 0 Tweet 0
  • The Sun as we have never seen it

    0 shares
    Share 0 Tweet 0
  • Eating against dementia: 20 foods that help – and 9 that harm

    0 shares
    Share 0 Tweet 0
  • Food trend: does protein fluff really help you lose weight?

    0 shares
    Share 0 Tweet 0
  • Coronavirus suspicion of cruise ship has not been confirmed

    0 shares
    Share 0 Tweet 0
Buzz Sentinel

Buzz Sentinel works as an independent organization dedicated to cater to national and international trending news stories. It aims to be a one stop resource for all kinds of news stories from around the world.

Recent News

  • Understanding the Importance of Diving into Growth Marketing with Global Marketing Guru Namita Tiwari
  • Unlocking the Secret to Successful Business Leadership – An Insightful Journey into the Life of Dr. Courtney R. McCashland
  • Story of a Storyteller: How Travel Content Creator Jaro Cabla Went from the Small Town of Slany to Inspire Millions

Category

  • Business
  • Culture
  • Health
  • Lifestyle
  • National
  • News
  • Sports
  • Tech
  • Travel

Newsletter

Subscribe to our mailing list to receives daily updates direct to your inbox!

    • Contact Us
    • About Us
    • Advertise
    • Terms of Services
    • Privacy Policy
    • Cookie Policy
    • Editorial Policy
    • Our Team

    © 2020 Buzz Sentinel. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Politics
    • News
    • Business
    • Culture
    • National
    • Sports
    • Lifestyle
    • Travel
    • Opinion

    © 2020 Buzz Sentinel. All Rights Reserved.