Jeffrey Tiong started PatSnap with a $40,000 university grant, spent a third on servers, and took two years to ship a product full of bugs. His path to early traction started when he pleaded with a university librarian to become his first customer. Founder-led sales was the only option.
Jeffrey reveals how he accidentally discovered that R&D departments were easier to sell to than IP lawyers, built inside sales from London to reach US and European customers, and grew PatSnap to 800 employees and 8,000 customers including Walt Disney, Tesla, and NASA. Founder-led sales through curated demos hid product instability while still impressing buyers.
He shares why startup sales requires finding the segment with the lowest requirements first, how his leadership evolved across 800 employees, and what his angel investor meant when he said Jeffrey was not fit to be CEO.
Key Lessons
- 🎯 Find the segment with lower requirements for founder-led sales: PatSnap failed with IP lawyers who demanded perfect data, but R&D teams valued ease of use and became the growth engine for 8,000 customers.
- 🤝 Inside sales can drive founder-led sales growth for years: PatSnap's London-based team calling US and European prospects was the primary growth channel for 4-5 years before marketing was established.
- 📉 Curate demos when your product is not ready: Jeffrey ran pre-tested demo paths using specific keywords and visualizations that reliably worked, hiding instability while still impressing buyers.
- 🧠 First-time founders must build confidence through startup sales experience: Jeffrey's angel investor said he lacked conviction. Over time, he developed an authentic leadership style through founder-led sales practice.
- 🚀 Target early adopters within your market: Visionary R&D thought leaders tolerated an immature product, while laggards in the same segment would not. Not all buyers are equal in early traction.
Chapters
- Introduction
- Jeffrey's favorite quote from Henry Ford
- What PatSnap does and who it serves
- PatSnap today: 8,000 customers, 800 employees, $51M raised
- How Jeffrey came up with the idea during his internship
- Accidentally finding the R&D market
- Starting with $40K from a university grant
- Two years to build the first version
- Getting the first sale: pleading with a university librarian
- Building to 10 customers through founder-led sales
- Curated demos to hide product instability
- Customer onboarding challenges and complaints
- Inside sales as the growth engine for 4-5 years
- Lacking confidence and conviction as a young CEO
- Evolving leadership across 800 employees
- Advice for solo founders
- Lightning round
- Wrap up
Resources
