Helping startups spend wisely with Noah Wittman, Founder of Priviom
In this episode of our Venture Scale SaaS Operator podcast, listeners are treated to an engaging conversation with Noah Wittman, founder of Priviom. This episode dives into the world of smart business solutions, revealing how companies can rethink their approach to software and vendor management.
Wittman, with his unique blend of expertise and experience, discusses how Priviom is tackling some of the most pressing issues faced by startups and established businesses alike. “It’s about making data-driven decisions, not just following the crowd,” Wittman says, setting the stage for a podcast filled with valuable insights for any business founder.
Who is Noah Wittman?
Noah Wittman, founder of Priviom, has had a journey from a successful career in enterprise sales to the world of tech entrepreneurship. Priviom, Wittman’s brainchild, is offering innovative solutions to the commonly overlooked problem of inefficient software spending.
In an age where businesses are bound to use a bunch of software tools, Priviom is guiding companies to make smarter, more informed decisions about their software investments. Wittman’s approach is not just about saving money; it’s about optimizing operational efficiency and ensuring that every dollar spent truly adds value to the organization.
Follow Noah on LinkedIn to learn more about his entrepreneurial journey.
Summary of the Podcast
Helping Startups Spend Wisely with Noah Wittman, Founder of Priviom
Timestamp: [00:00:00 – 00:40]
Noah Wittman, the founder of Priviom, joins the podcast to discuss the critical issue of efficient spending in the software tools sector. He explains how companies, especially startups, often struggle with understanding the utility and effectiveness of their software investments. Noah highlights the common scenario where businesses continuously pay for software tools without really assessing their actual usage or effectiveness, leading to financial inefficiencies.
Priviom’s Solution to Vendor Management
Timestamp: [00:41 – 01:43]
Priviom addresses a significant gap in B2B software and vendor management by promoting data-driven decision-making. Wittman emphasizes the importance of moving away from anecdotal approaches to software renewal decisions, which often result in unnecessary expenditures. He points out the need for a more nuanced and informed approach to assess the real value software tools bring to a company.
Identifying the Target Market for Priviom
Timestamp: [01:44 – 03:56]
Wittman describes Priviom’s target market, focusing on mid-market and enterprise companies. He clarifies that while Priviom’s solutions apply to almost all companies, the pain point becomes more acute for businesses with over 100 employees. Wittman further explains the need to focus on specific market segments, especially at Priviom’s early stage, to ensure effective client onboarding and support.
Defining ‘Mid-Market’ for Priviom
Timestamp: [03:57 – 04:57]
In defining the mid-market segment for Priviom, Wittman critiques the broad categorization of companies into small business, mid-market, and enterprise. He proposes a more nuanced classification, suggesting that mid-market companies range from 100 to 1,000 employees, while enterprise companies have 1,000 to 5,000 employees.
Challenges and Strategies in Enterprise Sales
Timestamp: [04:58 – 06:01]
Discussing his background in enterprise sales, Wittman shares insights into the challenges and strategies involved in selling to different company sizes. He emphasizes the importance of understanding the unique needs, structures, and decision-making processes of various company sizes for successful sales and customer support.
The Genesis of Priviom: From Sales to Foundership
Timestamp: [06:02 – 08:26]
Wittman recounts his journey from an enterprise sales role to founding Priviom. He noticed a common pattern in the SAS industry where initial scrutiny in software tool acquisition fades over time, leading to a lack of follow-up on the effectiveness and utility of these tools. This observation sparked the idea for Priviom, aiming to bring transparency and accountability to the software renewal process.
Priviom’s Focus on SAS Sprawl and Software Efficiency
Timestamp: [08:27 – 10:27]
Priviom’s mission centers around addressing the ‘SAS sprawl’ – the uncontrolled proliferation of software tools within companies. Wittman points out the need for better processes and insights into software usage, advocating for a platform that helps companies evaluate the true value of their software investments and make informed renewal decisions.
Transitioning from Sales to Tech Entrepreneurship
Timestamp: [10:28 – 13:52]
Wittman discusses his transition from a successful sales career to becoming a tech entrepreneur. He describes the entrepreneurial urge to solve problems and the challenges faced in this transition, such as building the right team, finding a co-founder, and balancing risk. Wittman’s previous experience as a founder provided him with valuable insights for his venture with Priviom.
Choosing the Right Co-Founder
Timestamp: [13:53 – 17:46]
The choice of co-founder is critical for startup success, as Wittman illustrates through his partnership with Seth Barkley. He emphasizes the importance of having a co-founder with complementary skills and a shared vision for the company. Wittman and Barkley’s unique partnership, despite the absence of a technical co-founder, showcases their commitment to mutual trust and effective collaboration.
Overcoming Challenges Without a Technical Co-Founder
Timestamp: [17:47 – 20:11]
Wittman acknowledges the challenges faced by Priviom due to the lack of a technical co-founder. He explains how they navigated these hurdles by relying on external technical resources and eventually hiring a lead engineer. Wittman emphasizes the importance of finding someone with the right combination of skills, experience, and commitment to the startup’s vision.
Advice for Non-Technical Founders Seeking Technical Talent
Timestamp: [20:12 – 27:55]
For non-technical founders, Wittman advises focusing on the person’s character and compatibility over specific technical skills when looking for a co-founder or lead engineer. He shares his experience using various platforms and methods to find the right technical talent, emphasizing the importance of patience, perseverance, and being open to learning from the process.
Reflections on Founding Journey and Future Plans
Timestamp: [27:56 – 35:34]
Reflecting on his journey as a founder, Wittman shares valuable insights and lessons learned. He talks about the importance of having a clear solution to the problems identified and the challenges of fundraising in a difficult macroeconomic environment. Wittman concludes with his plans for Priviom, highlighting the importance of customer retention and sustainable growth.
Conclusion
The insights shared by Noah Wittman in this podcast are game-changers for any tech business looking to thrive in today’s competitive landscape. From understanding the nuances of vendor management to the significance of data-driven decision-making, Wittman sheds light on crucial aspects that can make or break a company’s software investment strategy.
His unique perspective, rooted in extensive experience and a deep understanding of the market, offers listeners actionable advice and innovative approaches to common challenges.
We highly recommend tuning into the full episode to delve deeper into Wittman’s wisdom and learn more about how Priviom is reshaping the way businesses approach their software and vendor relationships.
