In this episode, we discuss: Is it possible to pivot to profitability? We are joined by Libby Penn, she is the COO of Improbable.

We chat about the following:

• What's the COO's role in the pivot to profitability
• What are the right bets to make in a business?
• How should we balance profitability and growth?
• What is the importance of well-documented data?
• What is realistic in terms of profitability?
• Who is responsible for capturing data?

References:

LinkedIn

Thinking in Bets by Annie Duke

Biography:

Libby Penn has experience in various business development and operations roles across a number of high-growth technology businesses on SaaS and enterprise models, B2B and B2C, in both the UK and the US. This has given her an in-depth insight into the complexities that come with the role as COO.

Summary:

• Gender roles and microaggressions in the workplace. 0:05
• Bethany Ayres discusses the challenges of being a woman in leadership positions, including societal expectations and performative ally ship.
• Bethany launches a series of free webinars to support first-time female executives and aspiring executives, focusing on topics such as taking a seat at the table and choosing the right life partner.
• Brandon and Bethany discuss the challenges of navigating gender roles and microaggressions in their personal and professional lives.
• Bethany shares an example of a leadership team meeting where a male colleague's swearing and apologies towards her created an uncomfortable work environment.
• Pivoting to profitability for a B2B SaaS company. 4:55
• Bethany: Analyzes company's strategy, identifies unprofitable areas for cuts.
• Bethany: Looks at lease and office expirations, considers cost-cutting measures.
• Bethany and Brandon discuss strategies for improving profitability, including renegotiating cloud contracts, focusing on profitable channels, and optimizing GTM motions.
• They also discuss the importance of tracking data properly to make informed decisions about spend and identify areas for improvement.
• Brandon and Bethany discuss partner strategy, testing, and doubling down on successful partnerships.
• They emphasize the importance of hiring quality people who are well-respected within the partner company.
• Pivoting to profitability, focusing on market strategy, operations efficiency, and automation. 12:42
• Brandon and Bethany discuss the importance of qualitative analysis to validate data-driven insights for profitability.
• Brandon and Bethany discuss the importance of operational efficiency and automation in a company's shift to profitability.
• Balancing growth and profitability for startups. 15:55
• Libby highlights the importance of balancing risk and innovation in investments.
• Libby emphasizes product development as key to profitability, while Bethany focuses on balancing growth and profitability.
• Data analysis, product development, and customer focus in tech companies.