6 Tactics We Used From Bootstrapped to Unicorn
March 2022
March 2022 | Mikita Mikado, CEO of PandaDoc
… and still no gray hair
Mikita Mikado
CEO of PandaDoc
Only $1m Raised First $5m ARR
2007 | 2010 | 2013 | 2015 | 2016 | 2017 | 2018 | 2019 |
Org Charts | Technology Intelligence | Added to App Exchange | Intent by Category | Ideal Customer Profile, ReachOut Extension | Enrich Launch, RainKing Integrated | Corporate Hierarchy, Intent by Topic | Combined Platform, Form Complete, Workflows |
Only $1m Raised
Investment
Panda Operating Framework
Smart goal setting
How the engine works…
Communication hacks for 0-750 FTE’s
Inclusion and belonging on team
Talent acquisition and growth
25x ARR multiple wasn’t “accident”
KPI’s we used to hit $1b valuation
Our systems for: Learn, grow repeat
TEAM CONTEXT
GROWTH
RHYTHM
The Right Context:
Effective Communication
Content and Transparency
Sharing the Company Mission
Help innovative organizations scale and win by eliminating workflow inefficiencies and bureaucracy.
Sharing the Company Vision
Build the most intuitive platform that automates agreements, transactions and other document-driven workflows.
Sharing the Company Culture Code
Sharing the Company’s Annual and Long-Term Strategy
A document that talks about our strategy for the year at length (20+ pages long).
The Right Context:
A Data-Driven Approach
Building a Comprehensive Operating Plan
Board-approved operating plans is how we plan and track progress internally.
Most directors have access to company-wide board-approved operating plan. Most managers have access to their teams operating plans.
Detailed and Accessible Metrics
Metrics site, tools and teams
We invest heavily in the data, processes and tools needed for every Panda to be successful
The Right Context:
Transparency, Inclusion and Belonging
Building an Award Winning Workplace Culture
Transparency, Inclusion and Belonging
Investing in Each Panda
From onboarding to learning to feedback and bonding, we make sure each Panda has access to key information and feels she/he belongs at PandaDoc
Onboarding
Learning
Feedback
Bonding
Rhythm and Rigor:
Accountability & Smart Goal Setting
KPIs
Well defined roles and teams with decent benchmarks primarily focus on KPIs (e.g. sales)
In such cases KPIs are tied to compensation and help informing our operating plans.
OKR Progress
Teams and individuals that work on projects with less tangible outcomes track performance through the progress on OKRs.
Compensation is not tied to OKR progress at PandaDoc.
Meeting Cadence
Rhythm and Rigor:
Learn, Grow, Repeat
360° Performance Reviews
Holistic reviews and feedback from:
Opportunities for career growth, mentoring and mobility
March 2022 | Mikita Mikado, CEO of PandaDoc
Mikita Mikado
CEO of PandaDoc
Thank you!