Bukki Adedapo

⚠️ 2024 Hung Up, 2025 is Calling ⚠️ As we step into 2025, I’ve been reflecting on what has been a truly transformative year for Closer and for me personally. This time last year, we had just emerged from two years of silent work, driven by a vision to bring people closer together. In 2024, we made that vision a reality: ✨ Launched Closer and gained traction in the market. 🚀 Became one of the fastest-growing Spanish apps in decades. 🤝 Built a dream team that turns ideas into impact every single day. But as any founder knows, success doesn’t come without challenges. This year brought its share of late nights, tough decisions, and moments of doubt. Yet, those moments taught us resilience, and every challenge overcame added to the foundation we’re building. Now, 2025 stands before us as a year of potential—a chance to take everything we’ve learned and push even further. It’s not about setting new milestones just because the calendar flipped; it’s about continuing the work we’ve already started and staying relentless in the pursuit of our goals. I’m beyond excited to keep learning, growing, and building Closer alongside an incredible team, and I can’t wait to see what this next chapter brings. Here’s to another year of progress, persistence, and connection. Let’s make it a game changer! 💪 #Closer #NewYear #TakingAction #Social #Consumer #StartUp

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"How do I price my product?" is one of the most common questions founders ask at pre/seed stage. This is particularly tricky when selling vertical SaaS as pricing too low creates poor optics, too high you get no adoption, and giving it away for free proves nothing to prospective investors. Here's what I've seen work best for several 640 Oxford founders: (1) Transparency over complexity. The more complicated your pricing is the less likely customers will adopt. Multiple tiers, step-ups, triggers, etc.. avoid all of it. (2) Leverage legacy pricing structures. For example, if your ICP is accustomed to per-seat pricing, then walk in there with a per-seat pricing model. Avoid value-based pricing out the gate because your MVP is still an unknown entity to yourself and the customer. (3) Stop worrying about pricing optics. Early-adopter customers understand that you're going to continue shipping new features and increasing product utility. There's a tacit understanding that pricing will (and should) increase over time. Communicate the increased value you will continue delivering and let that speak for a subsequent price increase. Any other tips I'm missing that founders have seen work well in the early days?

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Question - what does Trump mean in terms of real benefits / disadvantages specifically for startups over the short to medium term? 🌎 Can't imagine its good for immigration - tightening of talent visas? 💸 Better on the tax benefits front - (a little naive of me) but are there any policies he's put forward that have tangible benefits? 🖥️ Musk as tech advisor - not sure whether this will have benefits for the broader tech community or just Musk companies? (can't be good for OpenAI) Please enlighten me.

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The CEO of Perplexity said this in his Stanford talk the other day 'Chips on shoulders, put chips in pockets.' when asked about who make the best hires. Let me explain. There's a common perception amongst founders that if you hire the head of growth from another breakout tech company and try to fit them into your puzzle you'd achieve the same breakout results. The truth is, what it took for one company to succeed is entirely different from what it takes for another to get to a similar velocity. Even if the playbooks might look similar from afar. It's not the same. So in fact, it's actually better to hire someone who insted has: 1. The humility to let curiosity & trying be a teacher. 2. The bravery to do things that might be totally unheard of in your industry. 3. Someone who has a bias for action. 4. A hunger for success and a desire to prove themselves. Frontier technology that scales requires frontier leaders who do things with a sense of urgency, and with a need to prove themselves the victor. The next time you speak to a candidate-- yes look at their 'right to win'... ... but also look at their want to win. Credits to Stanford for putting on a phenomenal talk with Aravind Srinivas 💪

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A few founders have asked me to share more about this. Should I do a longer form post to break it down & also share examples?

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What if SDE knows something useful about why "43 million adults in America are functionally illiterate"*, and "illiteracy was estimated to cost the UK economy £80bn"** in 2018 alone? Sometimes getting a view from a different angle can make all the difference. The view from Self-Directed Education is about as different an angle as you're likely to get. If you're involved at any level in mainstream reading instruction, are you going to just keep doing the same thing hoping it will work? Or come explore a little? Money back guarantee if you don't find value.*** What does learning to read look like in SDE? Whether you are just curious to find out how we do it, or whether you want to ensure that your own SDE facilitation for young people is effective support rather than unwitting sabotage, here's a series of interactive online sessions you can sign up for this week. Hope to see you there! Please share with anyone you feel might benefit. Parents and facilitators working with PDA will receive priority for discounted places. Bookings here https://lnkd.in/dC-pZ7g3 *https://lnkd.in/dkNneeWV ** https://lnkd.in/d6HfzBgZ ***Full refund if you let me know within 48hours of the end of the 1st session that you regret signing up.

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The most successful founders follow this 'Fantastic 5' principle. A lot of people complicate success and growth. The gap between where you are and where you want to be can be covered if you work on the Fantastic 5. What is the Fantastic 5? These are 5 superhero skills you need to hone and develop. Irrespective of which sector or profession you work in, the core fundamentals things you need to work on are the same. 1. Knowledge Knowledge is the foundation of success in any field. It's not just about having a degree but continually updating yourself with the latest information, trends, and best practices in your industry. 2. Skills Skills are the practical application of knowledge. While knowledge can be gained through reading and studying, it is useless without implementation. 3. Relationship building My favourite has to be relationships. It is crucial to connect and vibe with the right kind of people who think long-term and act long-term. The highest ROI in life will come from here. 4. Resources Resources refer to the tools, technology, and financial backing required to achieve your goals. Access to the right resources can significantly impact your ability to execute plans effectively and efficiently. Most people dont have it, build it. 5. Reputation A strong reputation can open doors to new opportunities and collaborations, while a poor reputation can hinder your progress. Its your personal brand which is your most treasured asset. Handle it with care. Focus on one and slowly build on others with time. Compounding and increase in each attribute will give you the edge you need. Did I miss anything?

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In early-stage startups, product sense is crucial. With limited resources and data, it can be the key to success. I've seen founders with strong product sense navigate uncertainty effectively, using intuition and early market feedback. #product #startup

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I often get DM's and comments from founders that something I shared has been super useful to them and helped them wrap their head around some gnarly problem they were grappling with. Something as simple as how I validated an idea initially, what to ignore when you are too early, how we hired at zoko etc. If you were starting your company today or working on an early stage one, what would you like me to talk about?  Drop it in the comments. I'll either reply in comments or write more in-depth posts over the coming weeks, considering your input. Your input will help shape what I share, so don't hesitate to ask about any aspect of starting a company you're curious about.

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Every boom attracts people to a market and AI is doing an outstanding job of pushing lots of talented folks to become founders. But being a founder is not for everyone and the headlines of huge rounds in minimal time create an illusion of ease. Over the last 6 months, we have seen a noticeable rise in talented teams giving up when things don't go their way. If you're not ready to give a business your all for 12 months, in the face of lots of negative feedback, you should probably stay in your current job. Every founder goes through incredibly tough times early on, including those of Meta, Nvidia, Google; particularly around fundraising. Being a startup founder is one of the most rewarding jobs you can choose, but if you want to be successful, the path is a rollercoaster.

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Fair warning for startup founders raising capital. Funny/not funny story ahead.   I caught up with a close friend last week. He’s part of the leadership team of a tech scaleup on the hunt for growth financing. About a month or two earlier he got in touch with me saying he and his team were in London to meet with a VC and asked if I was free for a coffee (sadly, I wasn’t).    At the time, out of simple curiosity, I looked up the VC in Crunchbase and circled back to my mate because I saw the firm last raised/closed a €150 million fund in 2019, which could very well be depleted by now. I said it’s worth asking if the firm is still deploying capital - or at least ask when the firm last made investments. The question wasn't asked.   When we spoke last week, he told me the firm took him and his team through a full due diligence process, handed over a term sheet...and then took it back, saying they didn’t have any money! What kind of VC operates like this?   No doubt this is an incredibly rare case of batsh*t crazy bad luck, but the lesson here is clear for founders: Ask the hard and sometimes seemingly stupid questions, especially if you can show the data. Raise well folks. James   Photo credit: Emil Kalibradov via Unsplash - https://lnkd.in/eAvMnADT

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🚀 Ever wondered what terms like 'Seed Funding' and 'Cap Table' really mean? 🤔 Introducing VC 101: The Comprehensive Guide—the must-have two-page glossary that demystifies venture capital terms in record time! 🔍 Why This Guide? Quick Learning: Cut through the jargon fast—perfect for pre-meeting prep or mid-networking refresh. Expert Crafted: Every definition is meticulously designed for clarity, getting you up to speed with the VC world's essential language. Practical Use: Ideal for entrepreneurs, investors, and students who need to talk the talk and walk the walk in the venture ecosystem. 💡 Whether you're pitching your next big idea, investing in potential unicorns, or just curious about the mechanics of venture deals, understanding VC terms is key. 🎯 No Fluff, Just Facts—Get your copy of VC 101 and start navigating venture discussions with newfound confidence. 👇 Interested? Click the link to grab your guide now and elevate your venture vocabulary! https://lnkd.in/g-_NzCvz 🔗 Tag someone who could use this guide! Let's all get fluent in the language of venture capital. #VentureCapital #Startups #Entrepreneurship #Investing #Education #VC101

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"Most startups don't starve due to a lack of opportunities, they drown due to a lack of focus."   Many teams spend too much time on opportunities they never should have chased in the first place, which takes time away from the customers who might be the best fit for their business.  I'm looking for stories of companies that have deliberately "shrunk to grow". Being picky about your customers is sometimes counter-intuitive, but it's what you must do as you prepare for your next growth phase. If you've been a part of a high-growth company that has gone through the process of refining your ideal customer, firing customers, or gone after a more niche market and have grown as a result, I'd love to hear from you. I can't guarantee it, but I'm working on an article for a big publication and hoping to highlight some great examples.

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As an engineering co-founder, taking responsibility for selling our first 5-figure deals, I really stumbled; I wasn't in control and couldn't predict what would happen. But a single, simple approach really unlocked it for me 🔑 Chameleon didn't have "high-quality revenue" according to our investors, and they were hesitating about funding a seed round extension... We hadn't really found PM Fit, only had a self-service motion (no sales or CS) and had mostly SMBs as customers. They wouldn't use the product consistently, or well, and would churn. So we knew we had to pivot and start selling deals to mid-market companies that got more value, would pay more, and would stick around. 👉 I had to be the first sales person and felt really awkward around pricing (especially because we didn't know what the right price was) and around trying to close. I started working with Mitch Morando who taught me the "Morando Method". Here's one of the best pieces of that approach, that helped me grow ASPs 3x: “Product Yes, then Commercial Yes" This two-part framework transformed how I ran deals and shaped my entire approach to sales. Here’s how it works: 1️⃣ Product Yes The first step is to focus solely on whether the prospect really prefers our product: if all prices were equal, would they choose us over alternatives? If they ask about commercials, I'd try to comfort them that we would be in the correct ballpark and similar to alternatives, and before we invested time in all the details, to first decide whether we were even the right solution. By separating the product from the commercial terms, the focus shifts to creating real clarity and focus for the buyer and the evaluation. If we heard a definitive: "yes Chameleon is the product of choice" only then would we engage in the second phase: 2️⃣ Commercial Yes Now it wasn't a yes/no decision on buying, but figuring out "how" the commercials needed to be to give them their preferred product. I'd often ask for their "no brainer price" or pitch them the latest price and get their feedback (live on a call!) Alongside pricing, we'd ensure we'd cover infosec and legal requirements and bundle all of this together as part of "Commercial Yes". --- For any founders or early-stage sales teams out there, I can’t recommend this approach enough. Separate the product fit from the commercial terms. You’ll help prospects gain clarity and focus on value first. And for you? It’s an invaluable way to run a clean, effective process and close deals with confidence. Thank you again to Mitch for the wisdom, and sorry for sharing some of your "secret sauce" so openly 🫣 To every early-stage founder trying to sell, hats off: it's hard work and I know the hustle it takes, so keep going! #founders #salestips #productmarketfit #salesframework

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In my best meetings with founders, we have a back-and-forth discussion. In the worst, only the founder talks. Here’s how to avoid those bad meetings… *Take a Breath!* Some founders talk very fast and never pause. Instead, pause after an important point. Let it sink in, and leave a space for a question. Founders often talk fast out of nervousness. And that’s okay! A great way to handle that is to be well prepared. The more you’ve rehearsed your presentation, the more calm you’ll be. Try a 5 minute meditation right before a meeting. Everyone has 5 minutes, and it can really help. *The 1/3rd, 2/3rds Rule* You can ensure a dialogue by following the 1/3rd, 2/3rds rule. The first 1/3 of the meeting is for your presentation. Take the investor through the deck and a quick demo. The remaining 2/3rds should be for Q&A. Some investors, like me, tend to skip straight to the Q&A, which is fine too! It’s very simple: when you leave time for a dialogue, you wind up having a dialogue! *Track Your Talk Time* You could take a guess at how much you’re talking. But in today’s world, you don’t have to. I use an incredible tool called Fathom that records and summarizes all my meetings. It also tells me what percent of the time I spoke and whether I went on any monologues. In my best meetings, I’m speaking around 40% of the time and the founder takes up the remaining 60%. In the worst, least productive meetings, I have a very hard time getting my questions in. By the end, I’ve only spoken maybe 10-15% of the time. I highly recommend you use this tool. It also has a free tier. I’m not an investor in this one — I just love it! *Wrap-Up* To get a check from an investor, you have to defeat a dozen objections. But if you don’t hear from the investor, you won’t know what those objections are! You need to pull the objections out of them. Then, you need to neutralize them. The only way to do that is to have a true dialogue, not a monologue. Practice this, and you’ll find yourself raising a lot more money!

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Yes, early stage startups must go super narrow and deep, and solve one problem only. Absolutely true. But sometimes I see founders misunderstanding this as skimping on critical features, without which the product cannot deliver its proper value. Consider Uber v1. It was a narrow service - all it did was hailing limousines in SF. But in order to make that one thing work, the app had to have all stacks ready. If one stack was missing, the whole thing wasn't going to work. Imagine every stack of Uber working except for the payment stack or the driver dispatching stack. Startups are not just solving one problem, they need to solve one problem really, really well. Think about the minimum stacks and components required to deliver a magical, 10x experience to your users, when it comes to that one problem you're tackling. You should focus, which means defining what not to do - but at the same time you don't want to skimp on the minimum stacks and components needed to deliver a 10x experience.

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🚀 Navigating International Expansion for Tech Startups! At Bobble, expanding into international markets has been both exciting and challenging. Here are a few key lessons we've learned along the way - 1. Understand Local Nuances: Every market has its own culture. Localising not just the product, but marketing and customer support, has been crucial for success. 2. Compliance is Key: Navigating regional regulations (like GDPR) is non-negotiable. Building trust through compliance is vital. 3. Leverage Local Partnerships: Collaborating with regional players has accelerated our market entry and provided valuable insights. 4. Tailor Communication: It’s not just about translation—it’s about cultural relevance. What works in one country may not in another. 5. Think Long-Term: Global expansion is a marathon, not a sprint. Sustainable growth is more important than quick wins. 6. Customer Feedback Matters: Listening to users across regions helps us refine our products and ensure they meet local needs. As we continue to expand globally, we're excited by the opportunities ahead and committed to learning from each market. 💡 What challenges have you faced in international expansion? Let’s discuss! #GlobalGrowth #TechStartups #ProductLocalization #BusinessStrategy #Leadership

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Which North Star metric should founders/CEOs pick to maximize valuations? 🎯 While a North Star Metric (NSM) is great at driving teams to achieve targets, it can prove disastrous—if it’s the only metric you track and optimize for. Because, 1. it can and will be gamed (Goodhart’s Law!), and  2. you can get blindsided easily since many KPIs of interest to the board are compound metrics, and thus affect each other in different directions Thus, maximizing valuations is a balancing activity between multiple metrics. Investors stress on metrics like the Rule of 40 given its R2 correlation to EV. These are great—since “growth at a sustainable cost” matters a lot for later-stage investors, but, again you can’t just have two metrics (R40 & ARR growth rate) for the 2 reasons mentioned earlier. Since SaaS companies are annuity businesses, any growth in the short term needs to be supported by a corresponding growth in the long run. So, you need a few more metrics to evaluate if your growth is sustainable are not. That’s where GRR and NRR come in. These 4 metrics (R40, ARR Growth Rate, GRR, NRR) put together give a good picture of future free cash flow (FCF) potential. Now the question left is, what is the breakeven cost of capital for generating this cash flow? For that, it is important to know: a) how much you need to spend today to earn a dollar in future, and  b) what would you need to spend in future to earn that same dollar You get perspective on the above questions by way of S&M efficiency as measured by the CAC Ratio and the cost of serving customers by way of Gross Margin. At Drivetrain, we term this top-down methodology as SaaS Metrics Based Planning and to summarize the metrics: 1️⃣ Rule of 40 2️⃣ GRR 3️⃣ NRR 4️⃣ Gross Margin 5️⃣ ARR Growth Rate % 6️⃣ CAC Ratio ⬇️ Below, in a post linked in the comments, there’s more on how to use these board-level metrics to define the upper bounds of downstream operator metrics like New ARR, Churn ARR and Expansion ARR targets as well as the budget constraint on OpEx and S&M spends to achieve these targets sustainably. With this model, alongside helpful benchmarks, you can build your plans, budgets and projections that are aligned with investor expectations.

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