Quite long but plenty of amazing advice in here from the founders of Looker (acquired by Google)
“My biggest piece of advice to early-stage founders on fundraising is don't try to raise money too early,” says Tabb. “I see so many founders out there trying to raise with just an idea on a slide. We waited almost a year to raise money, until we knew it was a venture business — not every startup is, and you don’t want to get locked in. We were cranking along with customers and revenue. And it wasn’t all nailed down, but we had figured out enough of how go-to-market might work to know that it was workable. That made our seed raise in the summer of 2012 so much easier. If you build value, it takes the fundraising process from how good you are at pitching yourself to a place where you can simply say ‘Ask the people who are using us for their opinion about it.’”
As the investor on the receiving end of that fundraising tactic, Trenchard agrees that it was effective. “When we were deciding whether or not to invest in their seed round, Lloyd sent me a list of 10 customer references — many of them were First Round-backed companies. I talked to each and every one during diligence, and I was blown away. The love they had for the products was off the charts, they would have been very disappointed without it,” says Trenchard.
Learning a new language. “I created LookML to serve as the basis of our platform. It’s an abstraction layer, the sequel to SQL. My thought was that if we could simplify the problems with SQL and evolve the data language, it would be easier to use,” says Tabb. But banking on data analysts learning a new language was anything but a surefire move. “This was a scary one,” says Porterfield. “I remember those early existential questions: ‘Can analysts learn this language? Will they want to?’ Looking back now, it seems more obvious that developer-style tooling and workflows would be embraced. These days, there’s a lot of discussion that any time you can provide tools that increase someone’s leverage, they will adopt them. But that wasn’t clear at the time.”
“For most companies in the data space, pre-sales folks are like plumbers, they're just hooking stuff together. We tried to take a different approach at Looker by asking prospects for a dataset and then putting economics or math majors to work. In the early days, they wore all the hats: They were pre-sales, post-sales, customer support. Eventually, those became separate roles as we scaled,” says Bien.
“In the early days, Margaret had a habit of saying ‘We'll be successful when we have 1,000 true fans.’ That was our driving force — figuring out how to build a fanbase in enterprise software,” says Tabb. “If you make a product that customers love, your customers will love you back. It may seem cheesy, but it was really about love — that’s the emotion we wanted to evoke in our customers. We call customer success our ‘Department of Customer Love.’ We made ‘Love Looker Love’ one of our values. I had early customers tell me that life at their company was now divided into two eras: ‘Before Looker’ and ‘After Looker.’ That’s the reaction we were always chasing,” he says.
“Back in my college days, I was really into the ideas of Robert Greenleaf, who kicked off the concept of servant leadership. Today, as a CEO, that philosophy carries forward — I view myself as a steward,” says Bien. “My role is to remove obstacles for other people and remove ownership for myself.”