The Go to Market Handbook for B2B SaaS Leaders π―
A Deep Dive with Chris Tottman and Richard Blundell
I recently had the opportunity to sit down with Richard Blundell and Chris Tottman, two of the co-authors of βThe Go to Market Handbook for B2B SaaS Leaders.β The book, published in September 2023 has gone on to sell thousands of copies worldwide and has featured in Amazonβs best-selling lists for Sales and Product Marketing.
Over the last 25 years Richard has founded, scaled and exited many B2B SaaS businesses either as the CRO or CEO. Today he is a co-founder of Vencha who along with Chris Tottman and Paul Watson help dozens of B2B SaaS businesses ignite their Sales and Marketing growth.
Chris is the Founding GP of Notion Capital, the leading business software investor in Europe with more than $1Billion AUM acrossΒ 7 Funds and with a portfolio of over 200 Companies incl companies like Paddle, Mews, GoCardless & Unbabel. He also Co-Founded Included.vc; the VC-backed not for profit, & Alphagraph.club, the B2B Angel Syndicate, where he invests in a company most weeks.Β
Below I am sharing a transcript of our conversation. I hope you all find it helpful!
Let's kick off by talking about the title. Why did you choose it?
Richard: We wanted something that would be immediately useful for SaaS Founders and their executive teams navigating their go-to-market strategies. When we looked around in the software book market, there wasnβt anything out there written by people who had actually been in the trenches. Founders like us who could share real-life experiences and practical strategies that had been proven to work. So, "The Go to Market Handbook for B2B SaaS Leaders" felt like the perfect fit as a title.
Chris: The audience are Founders and their teams who are fully invested in getting their SaaS product to market and maximize its full potential β we call this the βdeath zoneβ for Founders particularly if they are early stage. So the title really talks directly to them.Β
Some never get the product built but have loads of Lean Canvases. Some have a thesis and have created a bunch of Lean Canvases, and some have gone further and built a product and are trying to iterate into something commercially viable and readily bought by customers. Some are even further along - weβve had several Series B Founders who have found it invaluable!
What category or genre do you think the book fits into?Β
Richard: Itβs a workbook specifically for Founders and senior management teams of B2B software companies. Itβs designed to provide fresh perspectives and inspiration on Go to Market planning.Β
Chris: It really sits at the intersection of Sales, Marketing, and Business Strategy, but with a laser focus on the SaaS and B2B software audience.
Interesting β thereβs certainly a lack of content out there in this space. Tell me, what was the purpose behind writing the book?Β
Richard: Honestly, it was about paying it forward. The industry has treated us so well and we wanted to share the hard-earned strategies we've learned to help other Founders increase their chances of hitting sales targets. Our main motivation was to help others and give back.
Chris: Our aim was to give Founders and Execs who are noodling on an ideaβor battling to find Product-Market Fitβa practical framework for success. We broke it down into 10 sequential chapters, or "workbooks," as we like to call them. These workbooks are packed with lessons from 30 years of building companies, with nearly 90 years of combined experience. Weβve experienced stunning successes, like growing a $150 million SaaS business from a free product in under eight years, which is pretty rare. But we've also had some spectacular failures, which is often when you learn the most and refine your strategy for the next go!
We also drew from 15 years of investing in over 200 SaaS companiesβfrom zero to one, pre-seed, seed, every series you can think of, and bridge roundsβsome of which are now pulling in over $100 million in revenue. Theyβre what we call βcentaurs.β But we also have a soft spot for those rare unicorns that never raise VC moneyβthe "superniche" startups that find a way to generate cash early on and finance their growth through happy customers rather than investors.
Sounds like a great reason to do it! Was there something you personally found valuable about creating the book?
Richard: Actually, writing the book helped us clarify our own methodology at Vencha! We knew all the component parts but putting them in a logical and relatable order was a challenge. The process turned it into an invaluable resource for us and the Founders we work with at Vencha (www.vencha.team). Plus, the feedback has been fantasticβitβs rewarding to know it has resonated with so many people and helped add value to their businesses.
Chris: Oh, definitely. A lot of the feedback we've received praises the book's refreshingly honest and unvarnished style. Richard, whoβs the main writer among us, is brilliant at capturing those raw, in-the-moment feelings, like when it feels like the bank has a metaphorical gun in your mouth. We've got a lot of stories from our combined years in the startup trenches, and Richard is great at bringing those to life.
And what did you dislike about it?
Richard: The final stages before printing were a nightmare. Amazonβs KDP interface was excruciatingly detailed, and we often wished we had just hired a publisher to handle the grunt work. Editing was a chore too, and there are still typos in the book!
Chris: Actually, I found myself a bit frustrated with the workbook on Investor Readiness. This is my day jobβI spend a lot of pro bono time helping Founders raise money, from developing their investment proposition to crafting the story arc, which I love. But the truth is, itβs a topic that could easily fill an entire book on its own. We did a solid job with it, like we did with the other nine workbooks, but honestly, it felt like it deserved its own dedicated space.
Which Workbook is your favourite?
Richard: Workbook 1βBuilding the Pain Statement. We have a unique approach to creating a visual Pain Statement that quickly communicates the challenge a prospective customer is facing. Itβs been a game changer for so many clients and forms the foundation of a companyβs entire value proposition. Itβs 100% our own IP so we really enjoyed writing this one.
Chris: I mean there are loads to like but the Pricing, Packaging and Monetisation workbook stands out. We had the great fortune of working with one of the best people in the world as a subject matter expert Andreas Panayiotou, who works with us at Notion.Β
The thing about Pricing, Packaging and Monetisation is that we often find a team has done all the hard work of building a product and getting some customers. This workbook is all about strategic and practical models to extract the right reward for the value you're delivering - and with Andreas there is always money all over the place to tap into. Right there in front of you, if you can just understand how to reach out and grab it.Β
Can you describe one of the main lessons from the book?
Richard: For me the main lesson from the book is to always, ALWAYS test your Go to Market thesis on customers and prospects who are right in the centre of your ICP dartboard. You need to look them in the eye, ask them not to lie to you, and pose a whole host of well thought out questions to find out whether your solution is something that they would invest in because it solves a mission critical pain for their organisation. We are always staggered by the number of Founders who've never tested their products on the marketplace - if they did this in the pharmaceutical space they might end up in prison! We cover off how to do this in Workbook 2.
Chris: My biggest lesson has been βGo slow to go fastβ and I struggled with this 20 years ago and it's a profoundly universal problem.Β
Paul Watson, our co-author, was originally a geologist straight out of university before pivoting in to financial services and then software and he captures it best when he explains how expensive it is to dig for gold without knowing enough. Not knowing enough means you'll almost never find a seam of gold - but with the right questions, answers and data you can narrow the chances of success right down to something totally worth prospecting. Why is it Founders, and product managers, have an idea, rush into market, hire an expensive Marketing and Sales team having completely under invested in validating the thesis?
So if you have a lean canvas and you want to know what to do next, this is the book β read it, rinse and repeat. This will teach you how to understand markets, buyers and users and how to go to market informed & unified as a team.Β
Whatβs one significant thing Founders and Execs do after reading it?
Richard: They often get their teams to read it, then start working through the workbooks together. Itβs been great to see companies weβve never even spoken to applying our methodology and creating their Pain and Solution Statements.
Chris: Founders often go back to customer development calls to genuinely understand the pain they're solving, not the product they're selling.Β
Pain product fit is the simplest way to know you're at zero and that you're heading to one - and one is the first direct movement towards that seam of gold versus digging in the darkΒ
How do you convey the learnings in the book?
Richard: We keep the language simple and relatable and use pictures whenever possible. Visuals are incredibly effective, and we also use real-life case studies to drive the points home.
Chris: Iβd add one word β storytelling. We also used an extensive list of subject matter experts and use real life examples that the reader can relate to.Β
How did writing the book change you both?
Richard: Β It made me want to do it again and do it even better next time. And next time, Iβd definitely hire a publisher to avoid all the headaches!
Chris: I'm not sure it changed me - but it changed our business and the relationship with the market. A s people read the book, they knew how we can help them and reach out for more, whether that's coaching or support.Β
How would you persuade a friend to read it?
Richard: If theyβre in SaaS and struggling with sales, Iβd tell them itβs like a roadmap out of the woods. Itβs written for software businesses, but the principles apply to any business, so thereβs value there for everyone.
Chris: The average person will spend 3 years getting nowhere near Product Market Fit or they'll have spent 3 years and burnt a couple of million dollars not getting to PMF.
Buy the book. Get there quicker or burn less money to get there and raise more money at much higher prices with a much easier funding experience.Β What I call the 80% Yes Ratio from investors!Β
Can you sum it up in one sentence or a one-minute speech?
Richard: The Go to Market methodology that significantly boosts your chances of selling lots of software and making it stick.
Chris: If youβre a Founder or an Exec of a SaaS business and you are pre highly repeatable sales, then you probably don't have Pain Product Fit. That means you're selling very little or youβre selling tomorrowβs churn - or your CAC is too high, and your LTV is too slow. In other words youβre living a Slow Death. This book helps find which customer profiles love you and why. It is jam packed with the βHow To Tipsβ to unlock growth - low CAC, efficient growth with customers who stick around and tell all their peers about you.Β
What feedback would you give to your younger self, the author?
Richard: Genuinely believe and convince yourself that people will be interested in your thoughts and ideas. And hey, youβll enjoy being called an author one dayβeven at your funeral!
Chris: Believe in Richard. Share your experiences more widely, as people love it.Β
And is there another book in the pipeline?
Both: Watch this space!Β