Yesterday’s discussion on Obama’s Economic Policy somehow got side-tracked to a discussion on venture capital compensation, which is not what I had intended.
I am frustrated with Obama for not addressing the questions about what he plans to do to turn around the economy. I am also frustrated with his anti-business, anti-globalization, and anti-free-trade rhetoric. It has led me to ponder the question, what should US economic policy focus on to get some vitality back into the system?
PayCycle provides online payroll services for small businesses and for the accounting professionals who serve them. Their mission is to make paper-based payroll obsolete. Using a unique Do-It-With-You model, they guide users through the entire payroll procedure online – from paychecks to W-2s. The company has highly experienced professionals who have previously developed products like
SM: What does it cost to buy a SuccessFactors solution? LD: It ranges. We have multi-million dollar deals. We just told Wall Street (because we want to ensure they know we have a good future so we did something we normally would not do) that in the first 5 weeks of 2008 we did a
SM: Very early on in this conversation, you mentioned you are really into metrics. Talk about metrics you track, metrics you manage your company by. LD: We can start out with late-stage pipeline coverage. That is how I know our business is healthy. Late –stage pipeline coverage of each area and each sector is probably
SM: You don’t face as much competition in small business either. LD: No, you don’t. There is no competition. That was Eric Dunn’s decision point on the Board. “That alone,” he said, “is an argument for me. We struggled so much in Intuit when we went up market to make the product scale.”
We discussed the rise of On-Demand Software-as-a-Service (SaaS) in the enterprise as a 2008 trend. However, SaaS will rise in the Small-Medium Enterprise (SME) markets as well.
SM: You may have to do some of that equity/liquidity swapping due to the structure of venture funds. JH: One of our funding sources may have to close out their fund, and in that case we will go find someone to help do that. In fact we just recently had a conversation about this amongst