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If you’re running a smaller digital business, you may find it challenging to hire great talent. In this episode of Growth Stage, we interview Lizzie Mintus Founder and CEO of Here’s Waldo Recruiting and host of The Heres Waldo Podcast about her thoughts on: The most effective recruiting strategies for SMBs.
These are all full-time jobs by $1m ARR. Fixing it yourself becomes the biggest time sink and excuse for not hiring there is. You end up spending all your time backfilling roles you should have hired. And even worse, you often sort of give up trying to make the hire. Field vs. mid-market vs SMB early.
Another top mistake SMB folks make trying to sell enterprise. As a founder, you’ll just run out of time to properly manage key customers and partners yourself. Hire that person, and make sure they are someone the top customers can really trust and count on. They just don’t map out all the stakeholders. Are we sure?
Startups come in all shapes and sizes on various stages of a timeline, yet it’s not surprising how many have the same questions and concerns about how to scale from x to y to z, the right time to hire and fire, and how to keep a team motivated during hard times. His answers didn’t disappoint. They wanted a one-call close.
Co-founder and CTO Dharmesh Shah shared with us how they got there — and the top mistakes they made — just 3 quarters after their IPO. You will fail if you: 1) try to build a suite of products out of the gate, 2) focus solely on SMBs, or 3) have an MBA. This is the revenue growth for HubSpot leading up to the IPO.
Which role should you hire for first? For starters, your first hire should be someone who can complement your skills, someone who is strong in areas where you’re weak, but it goes much deeper than that. I am guessing it’s probably the hardest problem to solve, hiring a job, let alone at this level. And for good reason.
Many people are doing great, even private companies like Netskope, which are growing over 30% at $500M in revenue. Canva is growing at 40% and has a revenue of $2.3B. Klaviyo is growing 42% at $750M, coming up on a billion in revenue, and number one in the Shopify ecosystem. Samsara is growing 39% at $1.1B. It’s a rocket ship.
Immediately told them to hire 50 reps in a different city, in a different city, and they did. The CEO was deferential because that was 10 times what he’d ever raised before, and did all of it. Jason Lemkin: 50 reps in a new city that you’ve never met, and hired in 60 days when you’re in the low millions ARR.
Gaetan Gachet : All right, so usually the way I start this session is I ask the crowd which revenue stage they’re in. So when I joined we’re pretty much pre-revenue. So up to 100-150K and SMB, we’re at 2K. So you were the first sales hire. So my first sales hire was beginning of 2015. One and 10?
SMB Sales & SDRs at (Smaller) Scale [18:20]. We were part of the office of the CTO. At that time, Marc Andreessen, the founder was the CTO of the company and there were only three of us in the group. It was pretty easy being an SDR for Marc Andreessen because he’d been on the cover of Time magazine.
More and more people are hiring leaders, not for past experience, but for capability and capacity. We hire a third-party firm. We had to say: what does SMB want? So, we combined our 20 products into one and said here’s a package for SMB, here’s a package for mid-market, and here’s a package for enterprise.
Obviously if you target enterprise customers, you usually have a very large ACV (Annual Contract Value) and the product usually is complex. We talk about using the product complexity, your target customer size, your contract value, and whether there's individual use case–those four things--to help you decide if PLG is a fit.
Co-founders Dharmesh Shah (CTO) and Brian Halligan (Chairperson) shared at SaaStr Annual the unfiltered truth on building an SMB powerhouse, pivoting to product-led growth, and why the “M” segment is SaaS gold. The SMB market offered a sweet spot between enterprise complexity and consumer scale.
Public valuations are still at a fraction of their 2021 peaks, but seed rounds are more expensive than ever. Investors should immediately engage with the CTO to assess their technical capabilities and potential, as great CTOs can demonstrate their exceptional skills quickly. Is it sustainable?
Loren, among other things, has spearheaded Shopify Plus, which is Shopify’s enterprise platform from the early days, to now announced today almost 30% of the revenue. And they had no choice because their revenue went to zero. From contract signature to launch. We are still heavily oriented to SMB and to entrepreneurs.
Erica Schultz is Chief Revenue Officer @ New Relic, the company that gives you the real time insights your software driven business needs to innovate faster. In Today’s Episode We Discuss: How Erica made her way into the world of SaaS and came to be Chief Revenue Officer @ New Relic. Welcome to Episode 214!
When is the right time to hire the first sales rep? Should you hire 2 at a time? What does one look for in their first sales hire? How does this change when selling to SMBs vs enterprise? * Does it have to be tied to a number related to revenue? Bret was formerly the CTO at Facebook.
And then the sale will commence as far as the people and this was, we were multiple millions of dollars of revenue until I took the first call. So look, again, we were, the product was out there, we were at revenue in our case. Vlad : Look, me personally, I was really conservative. Jonathan : Oh wow. Vlad : So yeah, from investors.
And I think part of it's because you've been in the game for a while and you're incredibly successful. Is your title CTO? Dharmesh: Yes, CTO. How do you have time to have your hands in all this different stuff? He was like, "You should probably hire someone outside of HubSpot for this role, for your growth.".
And I think part of it's because you've been in the game for a while and you're incredibly successful. Is your title CTO? Dharmesh: Yes, CTO. How do you have time to have your hands in all this different stuff? He was like, "You should probably hire someone outside of HubSpot for this role, for your growth.".
Highlights: (08:58) Building the first SaaS product and transitioning to recurring revenue. (14:58) 35:30) Optimal team structures for SMB sales organizations. (52:25) Highlights: (08:58) Building the first SaaS product and transitioning to recurring revenue. (14:58) 35:30) Optimal team structures for SMB sales organizations. (52:25)
Previously, Peter was also the CTO/CIO of CBS Interactive where he brought CBS into the cloud. At Sun, Peter was the CTO of the Liberty identity consortium that designed SAML 2. Why is it no longer to come into large enterprises with a small contract and expand? How has Peter found the transition from CTO to CEO this time?
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