Setting Up My Own Buisness – Today is my last day at Gong and if my work life is a book I think the 3rd ward is over (I think). Division 1 was various pre-sales technical roles, Division 2 was Direct Sales and Division 3 was Post-Sales/Customer Success/Customer Experience. Section 4 is my attempt to become an entrepreneur and combine all my GTM experience to tackle this next wave of disruptive innovations for GTM teams.
Customer success needs to be taken seriously. For those of you not familiar with the CS resource, here is the first article I found on the subject. CS was created to handle churn and turned out to be unsatisfactory and this is not CSM. These are amazing people doing amazing things, but structure/organization/leadership needs to be explored with CS2.0. B2B SaaS pricing needs to be reconsidered. The cost model is based on consumption and the revenue model is based on users. Cloud has highlighted this challenge and now GenAI will make it worse. As users use your product more, your cost increases, but your revenue does not. Something has to give. Selling needs to change in a world geared towards sacrifice and consumption. If the sale is difficult, it is difficult for customers to adopt the software and derive value from it. The technology that users have to use is too much and change management is too difficult. GenAI will be a huge disruptive force. We don’t know what and how the next few years will be. However, we are at the bottom and have an opportunity to reimagine all aspects of GTM.
Setting Up My Own Buisness
With all of this going on, I didn’t feel like going back to my usual job of managing the CS team or going back to sales. Those were the two most obvious choices. Organizations have built expertise in their CS and sales functions, retrained salespeople to be results-driven, sales leadership to handle the post-sales journey, created a CS function that is disruptive in scope, built a results-based product, etc. . It will take time.
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Instead, my plan (and hopefully the courage to stick with it) is to start and run a business using GenAI, work part-time with organizations, and use GenAI in my responsibilities as a first-class citizen. . Through education and work I know how to learn and my goal is to create best practices on how to start a business and manage GTM teams using GenAI. I will document what worked and what didn’t on this trip. There is a lot of hype around GenAI and my goal is to find out where the technology is not ready and what the best practices are. When I opened my law firm in 2004, I had no idea how to run a business in my own law firm. So I did what I do when I want to learn something – I found a book to read. Defining and Managing a Legal Practice was and remains the recommended textbook of the Martin Smith Law Firm.
Had I known then what I know now, I would not have followed the central advice of this book – take the job you can get. However, at that time I didn’t know much about marketing, positioning and the importance of niches.
So I did my first year in business as the book suggested and became a general practitioner and took every job that came my way. I’m not sure if later editions of the book have updated this advice. I certainly hope so, but if you are a solicitor looking to set up your own firm (as the Solicitors Regulation Authority will allow a new breed of independent solicitor from 25 November 2019) then I strongly recommend that you do not follow this. Advice I quickly realized that being a jack of all trades is a bad idea. It took a long time because I had to deal with issues like conveyancing, probate, landlords and tenants that I hadn’t touched in years. People needed this work when I opened the shop! Many of my customers were looking for friends and family or local businesses.
I have always invested time and resources in learning how to do different types of work. Even though I had covered the subjects I was doing a few years ago in the training agreement, the law had moved on. I have high standards and wanted a good job – so I have a lot to learn. I didn’t want to be careless either! Not surprisingly, this take-no-job attitude was not very profitable.
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While many companies like digital marketing agencies operate under this model these days, offering a wealth of skills under one roof, I doubt it’s worth it – you need to be an expert. Certainly not doing the right thing as a lawyer in the legal industry comes with serious consequences. Nowadays, it is important to avoid being a generalist. Within a year I completely changed the profession.
The reason I started my practice was the lack of flexible working options when I wanted to return to work after more than 10 years without a full-time job. During those 10 years I worked and studied part-time. , but it only worked intermittently.
There may be more flexibility in the workplace today, but there will be other factors today that encourage people to become self-starters. First, the trend in the company is independence and entrepreneurship. For many people, generating their own income and not being tied to an employer is the ultimate dream.
Lawyers and other professionals likewise decide to establish themselves. Many people do not want the corporate lifestyle and all that it entails. Currently, lawyers who choose to work independently work as consultants to dispersed law firms such as Keystone or Seddons. These companies provide professional indemnity insurance and regulatory compliance in exchange for low fees. The new rules are likely to encourage some of these lawyers to cut out so-called middlemen and work directly for their clients so they can keep all the fees they receive.
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Hence, there is a possibility of a huge increase in freelance work in the legal profession soon.
In future posts, I will look at the regulations affecting the legal industry and assess how they differentiate lawyers from setting up a law firm, or setting up an unregulated legal services business, or setting up an independent solicitor. These forms of practice are conceptually quite different.
When I wanted to go back to work in the mid-1990s, options were much more limited than they are today, both in terms of the working arrangements offered by law firms and the ways in which legal services were provided.
One of the reasons I took time off work was because I didn’t have family close by, and when I originally returned to work part-time at Reuters, I couldn’t find a childcare solution that worked for me. My first daughter. So I decided not to work. Reuters was a fantastic employer and if I had stayed there I would have been able to have as much flexibility as I wanted. But at that time, I didn’t want to spend time away from my daughter, who was still less than a year old. I volunteered to be laid off from Reuters and got such a great severance package, including stock options and keeping a company car, that I didn’t have to work when my daughters were young.
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When I was ready to return to full-time work 10 years later, little did I know how difficult it would be to return to a job similar to the one I had at Reuters.
When I first returned to work in the mid-1990s, law firm owners did not give me the flexibility I needed. Ideally, I want to work until 3pm, pick up the kids from school (I won’t bore you with the reasons, it’s very difficult to outsource running a school) and then, if necessary, continue. Her husband used to work at home in the evening after returning from work but that was not an option. At that time my youngest daughter was only 3 years old.
So instead of getting a job, I ended up doing consulting projects knowing I wanted a long-term career, mostly to support myself. I worked briefly in a business support role at the international law firm Eversheds. The job was part-time, but not very flexible. Anyway, after a while I didn’t want to be a paralegal
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