May 26, 2023: Show me the money
This founder shares his thoughts on asking for money, learn about the raises making news this week, more job opps and event news
Profile: Ryan Frampton and SalesQ
What is SalesQ?
SalesQ is a real-time sales coaching platform that helps sales leaders get their feedback implemented.
learn more about SalesQ at www.salesq.ai
What was the insight/inspiration that led you to launch it?
Through my previous roles leading the SMB sales department at Vidyard and as the Head of Sales at HyperComply I always felt call recording platforms like Gong & Chorus were great at helping me identify coaching opportunities with my team, but I didn't have enough time in my day to actually ensure my team was implementing coaching.
How has it been received by the market? Why do you think it has been so well received?
When sales leaders first see a demo of SalesQ the immediate reaction is typically "This will save me so much time."
I believe the reason why it's resonating so much is that 50% of sales leaders are watching 5+ hours of call recordings per week just to find out if their team is implementing the sales process. The other half of sales leaders are so time constrained that they wish they had the time to watch calls.
CEO and Co-Founder, Ryan Frampton
How did you know you were ready to found a company?
Jordan (Co-Founder & CTO) and I had previously co-founded startups together, however, our previous ideas were never routed in a problem we had ourselves. When we started working on SalesQ it was to solve a problem that I experienced every single day of my sales leadership career. Having first-hand experience with the problem made the process of building an MVP that someone would actually pay for a lot more straightforward.
How did you meet your founders/know they were the right people to start a company with?
I met my Co-Founder Jordan met through a mutual friend 5 years ago at the University of Guelph where we founded a startup called Lendr. It was a peer-to-peer rental app for students to rent out their everyday items. The startup dissolved, however, even through that failure we remained friends.
Startups have a lot of highs and lows so it's great to have a Co-Founder that you've been through hard times with.
What has been the hardest thing on your journey so far?
Startups aren't easy and SalesQ hasn't been an exception to that rule. During the first few months of launching we practically had to beg people to adopt the tool. User retention wasn't good and we had to keep convincing our early users to give the product another chance. After several iterations user retention started to climb significantly, but it took longer to figure out than we originally anticipated.
What has been the most pleasant surprise?
We've had a lot of support from the Canadian tech ecosystem. Everyone we talk to has been willing to help!
What is your super strength?
My super strength is definitely sales.
Growing up I was never great at school and I really didn't know what I could do in my career because of that. The first thing I ever sold was cat food door-to-door when I was in grade 8. It wasn't for a job either... I was at Walmart one day with my friend and we wanted more McDonalds than we had money for. We noticed cat food that was in a clearance cart on sale for $1 when the regular price was $9. We bought 5 and went door to door... we ended up selling all 5 to someone for $20.
Who is the unsung hero on the team? Why?
My Co-Founder Jordan Malfara is the most important person on our team. He's our CTO and I'm not technical so I barely understand what he's saying sometimes, but his ability to resolve complex problems amazes me. Our customers will reach out to us with a problem on a Tuesday morning and then Jordan is able to ship a new feature addressing the issue that afternoon. His ability to consistently do this has really helped us get customers bought into working with us.
What are you trying to achieve over the next 12 months?
We now have a solid foundation of customers so our goal is to become the standard way sales leaders get their coaching implemented by their sales teams. In order to do that, we need to get our name out there, so that's our biggest focus!
What advice do you wish you had been given prior to launching?
I wish someone pushed me to start charging for the product sooner. We only really started to learn what our product gaps were when we asked people to pay for the product. It makes everything harder in the short term, but we wouldn't be seeing the success we are now if we didn't start charging for our software when we did. The faster you start asking for money, the faster you learn.
What is your proudest accomplishment outside of your startup?
My proudest accomplishment is the impact I've made so far in the Canadian tech ecosystem. Several folks I have hired into tech from other industries are now leaders at the biggest tech companies in Canada. They are incredible role models for many people just starting their careers and I'm glad I got to be apart of their journeys.
Who are the 5 Canadian startups you like in your market?
Vidyard - video tools for virtual sales and marketing teams
HyperComply - making it easier to complete security questionnaires
PartnerStack - powering up your companies ecosystem
Proposify - untangle your sales document process
StackAdapt - helping agencies thrive through programmatic advertising
Learn more about Ryan and SalesQ here
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Tips for Founding a tech startup in 2023
This video-based platform out of Vancouver just raised $1.1m
Spellbook, a Canadian “AI copilot for lawyers,” raised US$10.9m
This company raised nearly $100m in Series D
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Check out the interesting content, events, and happenings for the community here:
TechTO Social | Vancouver | May 29, 2023: Get ready to connect and meet new people in Vancouver! We're excited to be back! You’ll hear about a recent exit from the Founder of buddybuild Dennis Pilarinos , learn from the CEO of Getware Grant Munro, and more! **LIMITED TIME OFFER - TICKETS ARE JUST $15!
TechTO: Together | June 5, 2023: Learn from the top Founders and creators in Canadian Tech. Whatever your goals are, this event can connect you with like-minded individuals that will help you level up and reach your goals.
TechTO x OneEleven present: The Summer Social Series | June 26, 2023: A chance to kick off summer with hundreds of founders, technologists, and like-minded individuals (over yummy food and drinks!) More activations and announcements coming soon!
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