We plan to bring eChai across 100 cities in India. It starts with eChai Startup Demo Day on 26 September, all in person. 11 cities confirmed, 318 founders registered. Any city that reaches 20 interested founders is on too. See your city
Everything from

Lenny's Newsletter

18 resources from Lenny's Newsletter we point people to, and the questions each answers.

📰 Newsletter
✓ Link checked Freemium Beginner

It orders the seven ways early customers actually arrive (network, cold outbound, investors, community, content, press, launch) by how much trust each one starts with, which is the missing map for a first-time seller. Built from interviews with founders at Figma, Notion, Databricks and Slack rather than theory.

How to find and win your first 10 B2B customers

From Lenny's Newsletter by Lenny Rachitsky long read

  • Work outward in concentric circles from the founder, each ring one step further from personal trust.
  • Retool filtered Crunchbase by recent fundraise and pitched CTOs and VPs of ops, landing DoorDash and Brex.
  • Amplitude's Spenser Skates: other YC companies are not real customers, they have no money to spend.
  • Canva took two years to build a 10,000 person waitlist, and a TechCrunch feature brought only a couple thousand signups.
Open lennysnewsletter.com
📰 Newsletter
✓ Link checked Freemium Intermediate

Sorts content strategy into five distinct models (who makes it, what it optimises for) so you can choose one deliberately instead of drifting. Includes how HubSpot, Ahrefs, Intercom and Webflow staffed and funded theirs.

Content-driven growth

From Lenny's Newsletter by Lenny Rachitsky long read

  • Expect at least five dedicated people for a real content engine, more if you are doing video.
  • Slidebean spent about 125K dollars on YouTube production in 2020 after finding paid search covered only 5 percent of its keyword demand.
  • Blog posts drove 30 percent or more of HubSpot's customers in its early days.
  • Ahrefs got to 1.5M visits a month on 300+ posts; Intercom runs 870 posts and 262 podcast episodes.
Open lennysnewsletter.com
📰 Newsletter
✓ Link checked Freemium Beginner

Campbell ran pricing research at ProfitWell across thousands of companies, and his sequence (value metric, then segments, then experiments) is the one to follow. The line worth memorising: get the value metric right and you can get a lot of the rest wrong.

Pricing your SaaS product

From Lenny's Newsletter by Patrick Campbell with Lenny Rachitsky long read

  • Companies priced on a value metric grow at double the rate with half the churn and 2x expansion revenue.
  • Do not discount past 20 percent: bigger discounts convert but correlate strongly with churn.
  • Revenue per customer is about 30 percent higher just from showing the buyer's own currency symbol.
  • Case studies lift willingness to pay 10 to 15 percent; freemium usually works best 2 to 3 years in, not at launch.
Open lennysnewsletter.com
📄 Article
✓ Link checked Free Beginner

Hila Qu built PLG at GitLab and scaled Acorns, and this is the rare free piece that maps the sales-led funnel against the product-led one side by side so you can see exactly which stage you are actually changing.

Five steps to starting your product-led growth motion

From Lenny's Newsletter by Hila Qu 20 min read

  • Splits activation into four aha moments: user, team, buyer, and paid customer.
  • GitLab defined team activation as 2 or more users using 2 or more features within 14 days.
  • GitLab's hand-raiser PQLs converted 3x better than typical marketing qualified leads.
  • Sequence growth talent: an advisor first, then internal talent, then an external growth leader.
Open lennysnewsletter.com
📄 Article
✓ Link checked Free Advanced

Kazanjy is blunt that almost every bottom-up company eventually adds sales, so the only questions are when and how. He covers the sequencing, the data plumbing, and the mistakes, including delegating the first sales conversations too early.

The Transition: Layering sales onto a bottom-up self-serve product

From Lenny's Newsletter by Pete Kazanjy 25 min read

  • Every bottom-up B2B company studied eventually layered a sales team on top.
  • A salesperson should return about 4x their fully loaded cost in incremental revenue.
  • One or two commercial inquiries a week is the signal to hire your first seller.
  • Do not chase top-down enterprise early, expand the self-serve users already inside accounts.
Open lennysnewsletter.com
📄 Article
✓ Link checked Free Beginner

Benchmarks from 500 plus products: 34 percent average, 36 percent for SaaS. If you have ever wondered whether your number is bad or normal, this is the answer, and it is free.

What is a good activation rate

From Lenny's Newsletter by Lenny Rachitsky and Yuriy Timen 12 min read

  • Across 500+ products the average activation rate is 34 percent, the median 25 percent.
  • For SaaS specifically the average is 36 percent and the median 30 percent.
  • 60th percentile counts as a good activation rate, 80th percentile as great.
  • A real activation metric shows at least 2x better retention for users who hit it.
Open lennysnewsletter.com
📄 Article
✓ Link checked Freemium Advanced

Built from interviews with 12 growth leaders, and it argues hard against the thing most founders want to do, which is hire a Head of Growth as a shortcut. Hire the builder, match them to your bottleneck.

How to hire your first growth team

From Lenny's Newsletter by Elena Verna and Andrea Wang 20 min read

  • Product-market fit comes first; hiring growth before it burns capital.
  • Make the first growth hire a builder (acquisition or activation PM), not a growth leader.
  • A growth leader needs 6 to 12 months just to learn your specific problems.
  • 90 percent of the time acquisition is the first goal a new growth team takes on.
Open lennysnewsletter.com
📰 Newsletter
✓ Link checked Free Intermediate

This is the bit most positioning writing skips: how weak positioning shows up as sales pain, including the 40 percent of B2B deals lost to no decision. If you need to convince a founder or a sales leader that PMM is not a nice to have, the loss to status quo number is the argument.

Summary: April Dunford on product positioning, segmentation, and optimizing your sales process

From Lenny's Newsletter by Gaurav Chandrashekar 12 min read

  • About 40 percent of B2B deals are lost to no decision: to the spreadsheet, to pen and paper, to interns.
  • Five steps: competitive alternatives, status quo options, unique attributes, value themes, target customers.
  • Positioning precedes messaging; you cannot write homepage copy before you know the value for whom.
  • Early on let the market pull you rather than locking positioning down too tightly.
Open lennysnewsletter.com
🎧 Podcast
✓ Link checked Freemium Beginner

Graphite's Ethan Smith has run this for real clients, so the advice is specific: landing pages, YouTube and genuine Reddit participation move the needle, help-center content is the underused asset, and AI-written pages underperform. Also the source of the claim that ChatGPT traffic converts around six times better than Google.

The ultimate guide to AEO: How to get ChatGPT to recommend your product

On Lenny's Newsletter by Ethan Smith with Lenny Rachitsky 80 min listen

Open lennysnewsletter.com
📰 Newsletter
✓ Link checked Freemium Intermediate

The structured counterweight to the two case studies: when community is worth investing in at all, the SPACES framework for tying it to a business goal, who to hire, and the advice to start with 10 to 50 founding members instead of launching to everyone.

A founder's guide to community

From Lenny's Newsletter by David Spinks 25 min read

  • Use SPACES to name why the community exists: support, product, acquisition, contribution, engagement, or success.
  • Start with 10 to 50 founding members who have a clear need and time to participate, then double every two weeks (10, 20, 40, 80, 160).
  • Aim for at least 50 percent monthly active in a founding group; mature ones run far lower (CMX Slack 14 percent, its Facebook group 18 percent).
  • Measure activity, value and belonging, not headcount. Salesforce has 83 percent of questions answered by other customers.
Open lennysnewsletter.com
📰 Newsletter
✓ Link checked Freemium Advanced

Four actual research methods (Van Westendorp, Becker-DeGroot-Marschak, Gabor-Granger, discrete choice) explained well enough to run one yourself, with templates. This is the answer to "how do I find willingness to pay without asking people what they would pay".

The ultimate guide to willingness-to-pay

From Lenny's Newsletter by Kristen Berman long read

  • McKinsey's number: a 1 percent improvement in pricing can raise profits by up to 11 percent.
  • Of 60 software companies surveyed, half had never run a pricing study and only a quarter had A/B tested price.
  • Van Westendorp is everywhere in blog posts but used by only 8 of those 60 companies.
  • Hypothetical answers inflate: a donation study drew 310 dollars real versus 780 dollars pledged.
Open lennysnewsletter.com
📄 Article
✓ Link checked Free Intermediate

Concrete plays with named examples: Zapier's 70,000 programmatic pages, Airtable's template library, Figma's free editor. This is what marketing looks like when the product is the channel.

Product-Led Marketing: How to get traffic and users for your product at a near-$0 CAC

From Lenny's Newsletter by Kyle Poyar 20 min read

  • CAC needs to stay under about $1 per unique visitor for the PLG math to work.
  • Organic search drives roughly 40 percent of new users, product virality another 16 percent.
  • Zapier built more than 70,000 programmatic 'connect x + y' landing pages.
  • Make activated signups your north star metric, not traffic or raw signups.
Open lennysnewsletter.com
📰 Newsletter
✓ Link checked Free Intermediate

The benchmark study everyone quotes: good and great net revenue retention by business type, built from 20 growth experts plus real public company numbers. It stops the 'is 105 percent good' argument in one page.

What is good retention?

From Lenny's Newsletter by Lenny Rachitsky 15 min read

  • Benchmarks differ by business type, so compare yourself only to your own category.
  • Enterprise SaaS net revenue retention: about 110 percent is good, about 130 percent is great.
  • Bottom-up SaaS: 100 percent revenue retention is good and 120 percent great, with Slack at 135 to 155 percent.
  • Warns startups rarely move retention much after launch, so weak early numbers are a hard signal.
Open lennysnewsletter.com
📰 Newsletter
✓ Link checked Freemium Advanced

Deals with the four places positioning work actually stalls, including teams that cannot agree on their competitive alternatives. Useful once you have tried positioning and it went nowhere.

A guide to advanced B2B positioning

From Lenny's Newsletter by April Dunford 18 min read

  • B2B vendors typically lose about half of all opportunities to whatever the prospect uses today, sometimes over 80 percent.
  • There are only two pure points of value in B2B: help a business make money or save money.
  • Watch for whale bias, where the team positions against one big lost deal to a competitor they rarely meet.
  • About half of status quo losses are customer indecision, not a real vote for the incumbent.
Open lennysnewsletter.com
📰 Newsletter
✓ Link checked Freemium Intermediate

Names the six channels B2B companies actually grow on and shows how top companies weight them, which is the frame you need when one channel stalls. Also the useful reminder that organic inbound dominating usually means product-market fit, not clever marketing.

Scaling your B2B growth engine

From Lenny's Newsletter by Lenny Rachitsky 20 min read

  • Top B2B startups take about 2 years from founding to $1M ARR, and roughly 1.5 years from their first customer.
  • Six channels ranked by prevalence: organic self-serve, organic sales-assist, outbound, content and SEO, paid, then partnerships.
  • Databricks' Ali Ghodsi on trying zero-touch PLG in 2015: revenue flatlined, and for practical purposes PLG did not work in enterprise.
  • Loom took 4 years to reach $1M ARR by design, choosing ubiquity inside organizations over early monetization.
Open lennysnewsletter.com
eChai Partner Brands