PIPEDRIVE FOR THE SEARCHFUNDER COMMUNITY
September 21, 2021
by an admin from Stanford University - Graduate School of Business in Honolulu, HI, USA
Hi, Searchfunder community -
We're now an affiliate for PipeDrive. Longer term, we’re looking to build a more meaningful relationship with PipeDrive so that we can bring you new tools, features and/or discounts like we've done with IBISWorld, HubSpot, Data Axle, BVR DealStats and Interexo. As a first step, we're looking to demonstrate that our Searchfunder members have a substantial interest in the PipeDrive system . So, if you are considering using PipeDrive for your search, please use this referral link: https://pipedrive.grsm.io/searchfunder1
Warmly,
Karen
P.S.
July 2022 update. You'll find a list of perks here: https://www.searchfunder.com/post/beta-test-discounts-perks-page.
from IMD in Lausanne, Switzerland
PLAN BEFORE YOU EXECUTE: This applies mainly to three areas: Pipeline stages, Data captured and Deal and Organisation labels. Pipedrive let's you change anything you want and it's super easy to do that BUT... the statistics and reports will be polluted if you start with, let's say 4 stages and then add a 5th one. This was my biggest problem, we changed several things as we calibrated our business understanding and at the end it was very difficult to get good reports. So my recommendation is, sketch your stages, segmentation and do things manually in excel for a couple of weeks until you really feel comfortable with it, then define them in Pipedrive. I'm sure the wisdom of the searchfunder.com crowd has already enough experience to put together some good deal flow process.
GREAT PHONE BOOK: Pipedrive lets you connect your phone via the mobile app and then you can start a call from your desktop or your mobile. Super convenient and the event (call) is registered in your log with the respective "Deal", in that event you can record notes, write them, etc.
SPEND TIME BUILDING YOUR DASHBOARDS: dashboards are super helpful but it takes time to build them properly. You have to define the algorithm and way of visualising. There is a learning curve but it will pay back many multiples (hehe- already using SF lingo)
INVEST TIME DEFINING WHAT DATA YOU WANT TO COLLECT: same as with the deal stages, you don't want to be adding new fields 6 months down the road. You can... and maybe in Search funds is not THAT critical but again, think about what information is helpful and define the fields you want to capture by default. And obviously, have the discipline to capture all that data every time you add a new deal.
USE AUTOMATION: you can't imagine how much of the process can be automated, Again, there is a learning curve but again, it will payoff handsomely. For instance, every time x happens, send an automated email to thank for this, ask for that, send a calendar invite, etc. That saves so much time but you need to invest some time understanding what experience you want people to have. Start there: think about the stakeholders involved in the search and imagine an amazing experience, what does it include? Pipedrive will help you execute a significant part of that experience. You will need to build templates and learn how to automate them.
DOWNSIDE: there were some bugs in the system that a couple of times someone's email just stopped syncing or the calendars were only syncing one-way where they were supposed to do it both ways. So the system is not perfect but in my experience the huge benefits outweigh the marginal issues.
Hope this helps, I'm more than happy to continue the conversation.
from Stanford University in Honolulu, HI, USA