AppDynamics Founder Jyoti Bansal, shares his journey with the HBSA/NC
Recently, the HBSA/NC featured a fireside chat with Jyoti Bansal, AppDynamics Founder. Event Chair, JP Marcos (MBA 2001) sat down with Bansal in front of an audience of Harvard Business School Alumni as part of the Technology Roundtables series. The conversation touched on Bansal’s story and lessons learned while leading AppDynamics from its inception to its sale to Cisco this year for $3.7B. Some highlights from JP, with vimeo clips included: On pivoting
AppDynamics was initially focused on the “on premise” market, while a company like New Relic focused on the “cloud”. In reality, AppDynamics was SaaS first, but Jyoti was intent on going after the Enterprise. That market was largely on-premise at the time, so the company adapted and that first pivot that App Dynamics up for a massive growth ramp. Bansal and his team architected the service to be able to work in both environments giving customers a choice, which is technically very challenging. The lesson: be ready to challenge your initial assumptions, pay objective attention to customer feedback, adapt quickly if you need. A key success factor was having a technical team in place that was able to execute.
Private Link: https://vimeo.com/217113789/e032fc212d On how he found his market and setting expectations in the sales message
Bansal has a conventional definition of product-market fit (“a product that people are willing to pay for”) and when one knows whether he/she has reached that stage (“five non friends and family accounts buying at the price you intend to sell to everyone, assuming you intend to have an annual contract value between $50,000 and $100,000”). His advice: sell what you have today not your roadmap. If your customers are more interested in other or future functionalities, then go back and work on your product before you pitch to them.
Private Link: https://vimeo.com/217094214/925258528f