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Activity Forums Q & A Startups How does a company like Square manage 2M business relationships?

  • How does a company like Square manage 2M business relationships?

    updated 1 week, 5 days ago 0 Member · 1 Post
  • David

    Member
    October 30, 2019 at 7:17 pm

    I’m doing some math on my startup idea trying to figure out how many businesses I need to capture in order to generate $100M revenue but most importantly what my expenses would look like. Since my business idea is a “loose” B2B (aka selling to restaurant owners which are technically 1-2 people that own a really small business), I would obviously need to hire account/sales people to manage these business relationships. For a company like Yelp, they have about 100K restaurants on their platform PAYING for ads. They have 5.5K employees, a majority of which I assume are on the account/sales team. 100K businesses / 3K account managers = About 30 businesses per employee to manage. ***I assume Yelp’s employees are also simultaneously trying to get MORE restaurants to pay for Yelp which technically opens up the total market to 600K restaurants so I guess you can say each employee is managing or doing sales for maybe 100 restaurants*** On the other hand, Square has about 2M businesses that PAY for their service(s) and only 2.5K employees (let’s assume 2K are sales people), so each sales/account employee is handling about 1000 businesses. ___________________________________________________________________________________________ How does a company like Square manage their merchants compared to a company like Yelp? I imagine Square has a more streamlined self-service portal for businesses to manage their own account. Alternatively, I imagine Yelp is just old-fashioned and their sales team waste a lot of time calling and bugging restaurants. How would you “manage” 1M relationships for a B2B company? – by hq overview nicebrah – –

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