The conversation highlights a significant shift in venture capital (VC) expectations from the previous 'growth at all costs' mentality to a more balanced approach that values capital efficiency. In 2023, VCs are less interested in the 'Rule of 40,' which suggests that a combination of growth rate and profit margin should equal 40%. Instead, they are looking for companies that can demonstrate strong growth while maintaining low burn rates. This means that companies should aim to grow significantly, such as doubling their revenue, while keeping their expenses, particularly their burn rate, at a minimum. The discussion criticizes the 'Rule of 40' as being more applicable to mature, public companies and suggests that VCs are more interested in what could be termed the 'Rule of 100,' indicating a preference for high growth rates without sacrificing financial efficiency. This shift reflects a broader trend towards sustainable business practices that prioritize long-term viability over short-term gains.

The speaker discusses their experience with Adobe Sign (formerly EchoSign) and the strategic decision to localize their software early in the company's growth. Despite initial resistance from the team, the speaker, as COO, pushed for full localization of the application when the company was generating around $3 to $4 million in revenue. This decision was driven by feedback from major tech clients like Facebook, Groupon, Google, and Twitter, whose sales teams required localized interfaces to send contracts internationally. By localizing the software, the company was able to secure numerous deals with tech companies that had global sales teams, significantly boosting their competitive edge in the market.

In this workshop, Jim, a CRO at Commodore, shares insights on selling to developers and engineers, highlighting the importance of understanding the technical audience's needs and building trust. He emphasizes that developers are passionate about their craft and value honesty and transparency from salespeople. Jim discusses the significance of knowing your ideal customer profile (ICP) and focusing on specific personas within the engineering and DevOps sectors. He advises against trying to sell to everyone and stresses the importance of targeting the right audience based on product-market fit and the technology adoption curve. Jim also highlights the need for sales teams to be intellectually curious and to engage with technical audiences authentically. He suggests that salespeople should be willing to learn and adapt to the technical environment to build credibility and trust with developers. The workshop also covers the importance of collaboration between sales and engineering teams, especially in early-stage startups, to ensure successful sales processes and customer satisfaction.