Finn Maclean

I posted previously on when to hire your first AEs, and what to look for. So presuming you’ve done this and have a few AEs in the role, how do you assess whether these AEs are doing well? A few founders I’ve spoken with have mentioned this challenge - especially because, very early on, there is so much noise amidst the signal of what is working. In this context I think it’s critical to consider input and output metrics separately. ✅ Output metrics - These are the metrics you are ultimately trying to deliver as a business. This includes things like ARR, number of new logos, maybe even usage or number of DAUs, WAUs, MAUs, etc. While these metrics are influence-able via behaviors, they are the dependent variable. You can’t just tell your early AEs to triple ARR when you're learning all about your market and target buyers; that’s not an effective management strategy. ▶ Input metrics - The activities which (presumably) drive the output metrics. This includes things like number of email sequences sent, number of calls made, number of meetings held, even number of hours spent in the office (though I do not recommend tracking that one). A pattern I’ve observed is that many early-stage founders dramatically under-goal input metrics early on. This may be because they have not run sales teams before, or because they are “anchoring” to a very different phase of the company. When you have new salespeople for the first time, every incremental metric feels like gravy; the CEO has gone from no one caring about her product, to doing five pitch meetings a week, so it can feel like stratospheric growth - which in a way, it is, on a percentage basis. But your basis for comparison should not be the zero meetings per week that you held previously, but the twenty five meetings per week you need in order to close x deals per month, at z ACV. So when in doubt, triple your input metric goal. You held 20 discovery meetings last month? Let’s do 60 next month! That said, it’s important not to overly goal the very leading indicator input metrics - for instance, the number of emails sent. Since you have hired smart, scrappy, malleable early AEs, you want them to think creatively about how to drive the earlier part of the funnel - meetings held - and that may involve fewer, more thoughtful emails, calls, or LinkedIn messages. An AE who sends 10 emails to land 2 meetings is much more effective than one who sends 100 emails to land 2 meetings; the latter is polluting your lead pool with less relevant outbound content; the former is learning how exactly to break through to prospects, and these learnings should be replicated throughout the team. You’ll learn so quickly with audacious input metrics - about the messaging and channels which work best, and critically, which AEs have more grit, hustle, and creativity in securing those meetings.

23

1 Comment

💥 Are you an organisation looking for funding www.grantfinder.co.uk💥 Here are a few of the reasons, you should be using GrantFinder! ✔ Access to over 7,500 funding opportunities - the most expansive database in Europe ✔ Real time fund and news alerts - as soon as we know about a new funding opportunity or change, so do you ✔ Precise funding searches - use our user friendly and intuitive search functionality to quickly identify relevant funding opportunities ✔ Simple synopsis - Easy to read synopsis of each funding opportunity enables you to quickly check eligibility before selecting the full details, saving time when searching ✔ Email alerts – automatic updates on saved searches alerting you to new or updated funds relevant to your profile ✔ Bespoke reports – easily create tailored reports to share with colleagues and third parties •✔And so much more... Lets chat, simply message me to arrange your free demonstration with Michelle Chapman and explore #grantfinder for yourself it would be great to see how it can benefit you! #funding #localauthorities #housingassociations #colleges #charities #thirdsector

3

The UK is struggling to scale businesses beyond the start-up phase. Despite our strong start-up culture, the drop in funding to a six-year low is a clear signal that we’re not doing enough to support the next stage of growth. If we want to drive innovation and future-proof our economy, we urgently need to inject substantial new capital into scale-up companies or we’ll lose the next generation of UK-born success stories. Interested - how can we (mainly government) fix it? 🔊 https://lnkd.in/dfUcV8M6

54

3 Comments

Whilst working on GoPlugable we’ve often talked about our bootstrapping journey where we funded our first year of development almost exclusively through grants competitions and accelerator programs. And whilst we can’t win everything, with £150,000 of equity free funds raised in 10 months it’s fair to say we’ve had a pretty good run at it! I always recommend to startups to avail of the support out there and bootstrap for as long as you can, we’ve gotten support both locally and internationally and it definitely can be done. 💸 Part of what I love so much about being in the startup world is not only working on my own startup but also hearing what others are working on. I get quite a lot of messages from very early stage founders asking how we managed to build our platform and get it off the ground on bootstrapped funds - every founder I have the opportunity to help in some way has also taught me something. As always my inbox is open and I’m more than happy to answer any questions you have but I wanted to gauge interest for offering more in depth one hour calls to help you to be able to present your startup in the best way possible whether it be through an application programme, pitch deck, website or MVP. Things are always busy at GoPlugable so for a very small fee I can allocate more of my time to give this more in depth advice based on what you need help with most. So if interested please give me a dm 🙋🏻‍♀️ Things I can help with: 1. Writing application forms and how to speed this process up when applying for many things at a time (we have this down to a fine art at GoPlugable!). 2. Putting together pitch deck in 3 min, 5min and 10 min formats and what is needed for each. 3. Help with what is needed for an MVP/wireframe, advice around budgeting and can provide intros to developers/ web designers who can provide quality work at a startup friendly price. 4. Give you a heads up on what applications you should be applying for and update you on this via email. 5. Basics of financial projections modelling- particularly for B2C/marketplaces. 6. Go to market strategies, marketing and PR advice. Applications and programmes I have experience with: -QUB Dragons Den winner 2023 -QUest Programme participant and pitch winner -INVENT winner 2023 -Techstart 10K and 35K proof of concept grants -Invest NI from student to first sale grant -innovateUK -Catalyst Cofounders -Enterprise Ireland New Frontiers Programme -Student Entrepreneur Awards -Santander X semi finalist -FIA mobility startup winner -Impact shakers urban impact pitch winner - and a lot more!

74

7 Comments

I was introduced to the new Funds Sniper search engine whilst seeking funding for Show Me. Within seconds I had a highly targeted list of the 16 relevant funds in the UK with description, contact name, role and details, allowing me to focus on personalising an approach, rather than spending hours searching and speaking with contacts (which I had already done). I'm not quite at the "I liked it so much, I bought the company" level, but having spoken with the founders, I have become an ambassador for them to help spread the word. You can try it for free with top 3 results of any search to get a feel @ https://lnkd.in/eQ9tuEay. Then, if you want to use it you can use the DISCOUNT CODE "amb-AMPJw" to get €/$150 off the annual subscription price, which at $500-$900/year seems to be significantly more economical than anything else I've seen. The database is a continuously updated PE/VC funds search engine (>18,000 funds globally & >20k people). It's been put together by a former Rothschild fund manager in Asia as an easy, low cost way to find relevant funds by sector for early stage/growth companies, financial service professionals/advisors & the funds themselves (for co-funding). What do you think of this versus anything like this you may have already used? Could it be of use for you or any of your contacts? Is there anything like this at that price (I see financial services equivalents but they come at a much higher price)? Let me know what you think, and get in touch if you need any help or advice in early stage UK fundraising.

7

To founders, margins are more than just numbers on a P&L. They’re proof of success, the result of hard work, and the foundations for scaling what started as a dream a few years ago. But as you scale, every hire you make either protects—or destroys—those margins. Poor hiring decisions quietly shrink profitability and make growth harder. Take a $150K hire: with ramp lag (months to deliver value), onboarding (weeks of team training), and inefficiencies (misaligned priorities, duplicate efforts), the real cost can hit $250K in year one. And if your gross margin is 50%, that hire now demands $500K in revenue just to break even. The Key Isn’t Avoiding Hiring—It’s Hiring for Impact, here's how you can get there: 1. Use the 3x Rule: Every hire should deliver 3x their cost in revenue, efficiency, or savings within six to nine months. - A $150K operations lead who automates processes and saves $500K annually? Multiplier. - A vague “general manager” who just adds meetings? Liability. 2. Hire Multipliers, Not Gap-Fillers: Multipliers make your team more productive. Gap-fillers add headcount without driving outcomes. - Instead of hiring another marketer, invest in a marketing operations lead who improves ROI across campaigns. 3. Ask before you hire: - Will this role deliver 2-3x ROI? - Does this hire amplify productivity—or just add costs? - Can your margins absorb the ramp lag? If the answers aren’t clear, revisit your systems. Your margins are your foundation—prioritize them with every hire.

10

1 Comment

Techies, Founders, Leaders, lend me your ears You might just love what’s coming 👇 The next month of Pain in the SaaS is packed with value just for you. Here’s a teaser of what’s to come: - Tom Pennings turning a server off even when could fix it. - Richard Russell explaining why the Google way isn't always the best way. - Nadia Pace’s office that was literally falling down. - Nikos Kryvossidis trying to change the culture and building bridges across departments. I’m dedicated to bringing you the best advice and information from VCs, founders, and sales leaders about how to scale your startup, become a better leader, and hear the real stories of experience. 🚀 It all starts tomorrow at 9am Berlin Time. Be sure to follow #PainInTheSaaS so you’ll get notifications of all the episodes as they drop and won’t miss a thing. #podcast

21

6 Comments

There’s been a lot of talk lately about Innovate UK’s support (or lack thereof) for female founders. After public outcry, the innovation fund reversed its decision to award only half the number of grants it originally promised to female founders. Initially, just 25 out of a potential 50 grants—up to £75,000 each—were awarded under the Women in Innovation scheme, despite receiving 1,452 applications and having "up to £4m" available. I didn’t apply for this grant, but I wanted to share a different perspective. Earlier this summer, I considered whether I should apply for Sourcerie. At first glance, it seemed like a no-brainer—non-dilutive capital designed for startups founded by women. Alex Beyer and I are two female founders, we’ve successfully raised from top VC funds like Playfair and Vorwerk Ventures, and from angels at Accel, Atomico, and LocalGlobe. We’ve developed AI-powered software that helps companies better understand and engage their customers, and we’re growing. We’re a rare breed—over the last decade, all-female founder teams have consistently received just 2% of total equity investment by value. The key to receiving this grant? Being deemed a “role model” and committing time to serve publicly in that role. Grant consultants told me I’d likely score highly as an individual — not for founding and fundraising for Sourcerie, but for my volunteer work with Women for Women International and co-founding Alma Angels. But they didn’t think our company, or our extensive professional experience, fit the profile Innovate UK was after. After reviewing past winners, it was clear our chances were slim, and the effort was better spent elsewhere. Essentially, our business was too commercial. While I’m thrilled to see funding go to ANY female founders, there’s still a frustrating double standard here. Society often expects women in business to be "do-gooders"— holding us to higher moral or societal standards beyond just commercial success. Meanwhile, men are celebrated for their ability to build unicorns and drive profit. If this grant is meant to reward role models tackling major societal or environmental challenges, why not make it gender-neutral? And if it’s for women in innovation, shouldn’t the focus be on innovation? What do you think? Thanks to Emmie Faust and everyone else who raised this issue and helped reverse the decision. Looking forward to seeing another 25 female founders receive their grants!

117

39 Comments

Rumoured amendments to capital gains tax on the horizon, later this month. We're running a survey on how potential changes might affect your business — give the survey below a look and please do let us know your thoughts! #CapitalGains #UKTax #Startups #Founders

2

One of my big goals for H2 2024 has been to do more in-person networking. I find myself intrigued by people's aims when networking at startup events... Full disclosure - Verticode works directly with founders as well as partnering with accelerator programmes and investors, so the reasons for me wanting to attend these events is quite clear: I'm getting the Verticode name out there and hanging out in the space that our clients/partners do. The fact that I'm generally building name recognition means it's not a waste of time for me to walk away from these events having met some great people and engaged in some interesting conversations but without really stumbling across anything commercially useful. I often think though, for so many early stage founders who attend event after event - they must usually walk away without any real value to their business. Don't get me wrong, there is always a benefit of sorts in building your network and, yes, if you're a founder the chances are you'll have an enjoyable time speaking with other founders but also... aren't there potentially better places to be talking about your innovative AI-driven AdTech startup? Or even more beneficial places to spend your evening (like building up brownie points with your partner... you're going to need them!) Or am I just being a bit defeatist?

8

2 Comments

🚨 The Skills Funnel is Broken 🚨 🗣️ Did you know that almost 9 out of 10 UK businesses grapple with skills shortages? (McKinsey & Company)🌟 😟 This means not just low returns for investors, it also translates to 👉 😥 Poor service for all of us customers 😥 Possible harm to stakeholders and the environment [look at Thames Water] 😥 Tepid growth for our economy. 💔 😲 Equally startling, 9 out of 10 employees in these very businesses are not actively engaged at work (Gallup)! 🙀 👨‍🏫👩‍🏫 Let me break this down for you: ☝️ Almost 90% of businesses don't have enough skilled workers ✌️ 90% of workers they do have are not actively engaged at work 🤔 We can take this as a sign for terminal decline, or choose to change things, together! 💪 📬 To learn about how my Project Brains community is helping us break out of this deadlock, DM me or follow the link below. 💪 🚀 A better Future of Work is necessary, and possible. 🌈 #FutureOfWork #SkillsShortage #EmployeeEngagement #BusinessGrowth #ProjectBrains

13

3 Comments

For SME businesses and startups across all sectors - Don’t miss out on the latest funding and investment news plus get insider tips on getting your business funding ready. Reserve your seat now https://lnkd.in/ea3efV9d #businessgrowth #Funding #innovation #investment

32

7 Comments

SEIS Season is Coming – Don’t Miss Out on the Best Tax Incentives for Investors 🚀 As we approach SEIS season, it’s time to explore how the Seed Enterprise Investment Scheme (SEIS) can unlock incredible benefits for investors in early-stage startups. 🌟 Here’s what SEIS offers: > 50% Income Tax Relief 💸 > Capital Gains Tax-Free Investment 💰 > 25% Loss Relief for added peace of mind 💵 With recent government changes increasing capital gains tax and inheritance tax, SEIS remains one of the most effective ways to support innovative startups while optimizing your financial strategy. To sweeten the deal, all investors who join Hyper will receive 5 free Apollo Pro memberships—a game-changer for your portfolio companies. Apollo Pro gives startups access to $100,000+ in credits and savings with top platforms like Amazon, Microsoft, ChatGPT, HubSpot, Typeform, and more. 👉 Ready to take advantage of SEIS and build the next generation of unicorns? Start here: https://lnkd.in/edxFkxer Let’s make this SEIS season your most impactful yet! 💼✨ Important Note: Hyper is not a financial advisor, and this does not constitute financial or tax advice. Please consult a licensed professional to explore how SEIS can work for your personal circumstances.

25

1 Comment

It amazes me how little our Start Up eco-system focuses on the basics when it comes to raising capital. Below Sam Simpson touches on the 'super power' all Start Up Founders have when building Tech or Support Services that help ANY business launch a solution for ANYONE. The narrative that needs to change in Society is about RISK. I have recently debated with UK Pension Lawyer Jade Murray about HIGH RISK Assets being held across various DC Pension products. Back in May 2010 I watched the faces of two FSA Associate Directors change, as I explained my vision for the 3PPS Framework is to provide access to the upside potential of 'HIGH RISK' Illiquid Assets, without adding a single penny of extra risk to mass retail savers. It is fascinating to hear all the pathetic excuses of 'experts' why they don't advertise the success rate of their advisory services at meeting the unmet needs of 9 in 10 workers in the UK, across 2m+ SMEs. Jeremy Hunt said recently that SMEs employ 27m workers out of 32m. Every single one of them have been blocked from accessing the potential upside from 'HIGH RISK' Assets, despite Statutory & Regulatory Laws being quite clear that ANYONE is eligible to participate. Sam has highlighted the basic tax relief advantages, which are 50% (SEIS), 40% (HRT & IHT), 30% (EIS), 25% (BRT), 22% (Loss Relief) or 20% (CGT) tax relief benefits are available depending on an individual's own tax circumstances. The biggest supporters of Start Ups (40%) in the UK are Friends and Family. The second biggest (30%) is the Taxpayer (everyone), via various initiatives. The remaining 30% are professional investors e.g. Angels, VC, PE. Until the Mansion House Reform, which I have been arguing for since 2004, UK DC Workplace Pension Providers have given virtually ZERO F*CKS about supporting innovation and homegrown SME talent. Pension La La Land has been happy selling 5 ⭐️ 'low cost' products, which I predicted in 2010 to the FSA, would continue to fail 9 in 10 workers. The AE chickens have come home to roost, despite all the 5 ⭐️ awards being handed out like confetti, the average shortfall has grown from £200k to £250k (25% worse). The consumer cost to repair Pension La La Land's non-compliance with COBS19.1 over the last decade is an eyewatering £600bn 😱 What does this mean for 45m DC Workplace Pension pot owners? It means that to catch up after 10yrs of #Pensionwashing you will need to pay between 4x to 10x more contributions every payday, than those who secured additional risk free funding. Restitution Funding is the only affordable option for 45m DC Workplace Pension pot owners. If you are reading this, you will have been impacted one way or another. I passionately believe the Start Up eco-system can help millions of affected workers get back on track. If you would like to know more about recovering £60,000+ of lost retirement benefits, please don't hesitate to reach out. #RestitutionFunding #BUOM #TheCherubsAreComing 👼

This is for all women investing in and building startups across the UK. Barclays and The Entrepreneurs Network are currently undertaking research for the next Female Founders Forum report. - Repost and share to reach all voices. In this year’s report, they are exploring the opportunities and challenges for female angel investors in the UK. Throughout October, They are hosting a series of roundtables across the UK to feed into this research. This will cover: Regional challenges in angel investing The impact of angel syndicates, groups, and co-investment funds in supporting female entrepreneurs and investors across different regions. Strategies to increase women's participation in angel investing through improved support programs and policy changes Bridging the gap between entrepreneurs and investors   The roundtables are open to both male and female angel investors, female entrepreneurs who have been backed by angels, and those actively interested in becoming angel investors. The insights from the regional roundtable discussions will help inform the research and policy recommendations for the Government’s work on supporting angel investing among women.   If you want to have a seat at the table sign up below:   Newcastle: Monday, 7 October 2024, 1.30pm to 3.30pm, Maybrook House, Newcastle upon Tyne - https://lnkd.in/ehtUFVxe Edinburgh: Tuesday, 8 October 2024, 1.30pm to 3.30pm, CodeBase, Edinburgh - https://lnkd.in/e9cwZs-x Birmingham: Tuesday, 15 October 2024, 1.30pm to 3.30pm, 6 Brindley Pl, Birmingham - https://lnkd.in/erqTQnd4 London: Tuesday, 22 October 2024, 1.30pm to 3.30pm, 1 Churchill Place, London - https://lnkd.in/eMmRftKS Belfast: Tuesday, 29 October 2024, 1.30pm to 3.30pm, Ormeau Baths, Belfast - https://lnkd.in/e--xj54k investHER-UK, Roxane Sanguinetti, Hannah Bernard OBE, Juliet Gouldman,Natalie Ojevah MBE, Emmie Faust, Alma Angels, HERMESA, Angel Academe - increasing female investment, UK Business Angels Association, Deepali Nangia, Jenny Tooth OBE, Emma Sinclair MBE, Emma Wright, Marla Shapiro, Ella Goldner (Levy),

34

4 Comments

This week has been a game-changer for UK tech startups, with a total of £139.2m raised across 11 funding rounds - a staggering 379% increase from last week! Amber Therapeutics - £80m Echion Technologies - £29m Sidekick - £8.5m Rendesco - £6m Visibly - £5.9m OnSecurity - £5.5m Workl - £2m (Recruitment) Gener8 - £2m (Privacy software) Real World Health - £1.37m (Health tech/data) VoltShare - £500k (EV charging) Bluedot - £473k (AI) #UKTech #StartupFunding #Innovation #TechNews #HealthTech #Fintech #ClimateTech #Cybersecurity #EdTech #EnergyTech #Startup #fundraising

17

2 Comments

techUK recently asked me to share views on #scaleup #investment challenges, which are condensed into a 3 minute blog post below. Hopefully an interesting read for UK tech entrepreneurs, VCs and policy makers... The opportunity to improve the landscape is clear. 🇬🇧

3

🦸 The most successful founders I work with have made hiring their Super Power Why? Because they know it's the quality of their team that will ultimately lead to success or failure. ✅ They are constantly on the lookout for great people, and maintain relationships and networks that will be useful down the line. ✅ They are creative at matching people's skills and experiences to jobs that need to be done. Always thinking outside of standard job titles. ✅ They implement strong hiring processes and hygiene levels in their orgs so the team can consistently hire at the right level. ✅ When things go wrong they act decisively to manage the situation and either support the employee to step up, or help them find the right position elsewhere.

1

As a founder, it’s useful to understand the options available to you when raising equity investment in the UK. Two popular schemes for UK startups are EIS (Enterprise Investment Scheme) and SEIS (Seed Enterprise Investment Scheme). So here’s a breakdown of the key differences to help you choose the right fit for your business: 1️⃣ Company Stage SEIS: Designed for very early-stage startups (under 3 years of trading). EIS: For more established businesses, up to 7 years of trading. 2️⃣ Investment Limits SEIS: You can raise up to £250,000 total. EIS: You can raise up to £5 million per year, with a total of £12 million (£20 million for knowledge-intensive companies). 3️⃣ Company Size SEIS: Maximum of 25 employees and gross assets under £350,000. EIS: Maximum of 250 employees (500 for knowledge-intensive companies) and gross assets under £15 million. 4️⃣ Tax Relief for Investors SEIS: 50% income tax relief on investments up to £200,000 per tax year. EIS: 30% income tax relief on investments up to £1 million per tax year (£2 million for knowledge-intensive companies). 5️⃣ Investor Types SEIS: Individual investors only. EIS: Accepts both individual and corporate investors (corporate investors do not receive tax relief). 6️⃣ Fund Usage Timeframe SEIS: Funds must be spent within 3 years. EIS: Funds must be spent within 2 years. 7️⃣ Capital Gains Tax Relief SEIS: Up to 50% CGT reinvestment relief. EIS: CGT deferral relief. If your startup is in its early stages, SEIS is a good fit. If you're further along and scaling, EIS will allow you to access larger funding amounts and more flexibility. #Startups #Investment #EIS #SEIS #VentureCapital #Funding #BusinessGrowth #TaxRelief #Entrepreneurship #BusinessFunding

4

2 Comments