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Recruiting is tough. But to be a great CEO, you need to find a way to force yourself to be a great recruiter. Let me share some learnings, and what I do now to force myself to be a better recruiter. First, you will budget a ton of time for recruiting. Hire external recruiters — and be very good to them.
In SaaS, #1 most common misfire, with a bullet, is the VP/head of sales. It goes something like “You’ve Got to Get Past the Carcass of Your First VP of Sales” or “It’s The Second VP of Sales When You Really Start Selling” or variants thereof. Because in SaaS start-ups, it seems like the majority of first VP Sales fail.
Key hires like a VP of Engineering or VP of Product might get 1%-2% each. Senior engineers or designers might get 0.5%-1%. Another way to think of this stage; the first 10 or so should probably get at least twice the equity of others for joining early, if they are mission-critical hires. Junior employees might get 0.1%-0.25%.
Perhaps the single most important thing you can ever do in SaaS, at least after $1m in ARR or so, is hire the best VPs you can. We’ve talked a lot over the years about how not to hire a wrong VP of Sales — 70%+ of the first VPs of Sales don’t make it even 10 months. You need to hire up-and-comers.
IME, rough order to make hires in: VPM: $0.2m He asked which to hire first. If you have a few nickels in the bank, and you somehow find a great VP a half stage or even full stage early, just hire her. Hiring is so hard as it is. Make the hire now. ARR VPS: $1-$1.5m More here: [link].
And how often is he recruiting? In fact, every single day he and his team go into their Recruiting War Room, and analyze every single possible recruit coming up the next four years. But in this phase — you need to be Head Recruiter yourself. At first everyone is sort of great at recruiting — by definition.
We’ve talked a lot on SaaStr about how to make that critical hire: the VP Sales. But when you make a mis-hire, it’s about the worst mis-hire you can make. You’ll end up with a crummy sales team under a mis-hire. We’ve posted a script to use when interviewing a VP Sales.
One of the classic original SaaStr posts was on the Top 10+ Questions to Ask a VP of Sales Candidate. It’s a different world today, AI-fueled, often distributed and hybrid, and with inflation both in titles (CRO or VP Sales) and compensation expectations. Use this updated script for hiring that first VP of Sales.
Whether it’s hiring a VP of Sales who’s scaled a team to $50M ARR or finding a product leader who’s built enterprise-grade solutions, the talent pool here is unparalleled. #2. From hiring to partnerships to fundraising, being here makes it easier to connect with the right people at the right time.
In our most recent episode of CRO Confidential , hosted by Sam Blond , Graham Moreno , VP of Worldwide Sales at Codium, shared invaluable insights on what drove this growth, the challenges they faced, and how other SaaS companies can replicate this success. Their strategy?
That you absolutely, positively, have to only hire “Rockstars” in your startups. A Rockstar engineer really is 10x better than the next tier. And yet … is it worth waiting 6-9 months to hire a VP that’s a true Rockstar, if you’ve struggled to make the hire? The very best of the best.
Whether you manage a team of engineers, a team of regional salesmanagers, or the company, your first responsibility is to hire and successfully manage the seven people who will form your leadership team. First, as a company grows, the most important thing is recruiting.
At SaaStr APAC 2023, Scott Pugh, VP of Sales at Figma, shared how to scale these two sales teams while building culture. Pugh’s strategy is simple, albeit not always easy: Recruitment — how to hire the best talent to scale your sales organization. Let’s look at five tips to consider for successful recruiting.
You need engineering, product in all start-ups — but in SaaS, even in the very early days, you also need sales, client success, true support, demand gen marketing, etc. Why didn’t we just hire another 3 guys in TechOps much, much. I was lucky to have a great hire who handled our first few large customers.
This requires effort from your entire organization, and Handshake VP, Employer Partnerships Jessica Peluso outlines some changes that you can make to your brand, and your application, interview, and offer process that will help find the talent you are trying to attract and hire. Below is the transcript of Jessica’s session. Hi everyone.
A VP of Sales and Success A VP of Sales and Marketing A VP of Sales and Anything Else. Is usually not really a VP of Sales. I don’t know about you, but I’ve had to recruit a lot of types of folks over the years where my domain knowledge was limited. I’ve had to recruit Ph.Ds.
Recently, a good friend of mine running a Hot SaaS Start-up asked me if he should hire a particular VP of Product candidate I knew well. The team he’d be managing was a big thumbs up on him. Just don’t hire her. This was for a VP Sales position for a fast-growing SaaS company at about $4m in ARR. Let her go.
We’ve talked a lot about hiring a VP, Sales. We’ve talked about the 48 Different Types of VP Sales , What a VP Sales Really Does , and a Script to Use When Interviewing a VP Sales. In those cases, no “big mistake” hire was made. But still, some hires didn’t work out.
Key Functions with High Impact Generative AI is revolutionizing sales by enabling dynamic pricing and personalized customer interactions, boosting conversion rates and customer satisfaction. Post-sale, AI analyzes customer data to improve service and loyalty, making it a cornerstone of modern sales methodologies.
379: From how many reps to hire, to compensation models, here are the top 10 mistakes founders make when hiring their first sales teams and how to avoid them. Announcer: In today’s SaaStr Insider, SaaStr CEO and founder, Jason Lemkin, shared the top 10 mistakes founders make when hiring their first sales team.
Having learned from thousands of customers and prospects, Sarah Lash, Envoy’s head of enterprise sales, will talk about what it takes to guide and scale enterprise sales programs during an uncertain future. In my first six months at Envoy , I grew the sales team from six to 17. Combine Strategies To Drive Sales.
Brendon Cassidy, my VP of Sales wrote a version of this piece a while back. I though an updated version of this would be good for founders thinking about hiring a VP of Sales … VPs of Sales themselves … and VPs-to-be to read — Jason, ed. … 10 Rules to Being a VP of Sales in a Startup.
If a sales exec makes it anything but effortless to schedule a job interview with them, Basically it won't work out — Jason ✨Be Kind✨ Lemkin ?? jasonlk) February 13, 2024 So I remember years ago I went to hire my first VP — ever. At least for sales execs, never hire them if they are slow in the recruiting process.
Dedicated Slack Channel For Every Metric From the early days at Secureframe, they have had a dedicated Slack channel for every metric: every net new sale, every expansion, every churn, and every expense. Work with Great Executive Recruiters ”The first time I saw an invoice for an executive search, I think I had a heart attack,” Shrav joked.
In this week’s episode of CRO Confidential, host Sam Blond, Partner at Founders Fund, continues a mini-series on founder-led sales with Colin Zima, founder and CEO of Omni. Leverage Your Network First When you’re ready to hire your first AE, don’t create a job posting and see who comes in. As a founder, always lean into your strengths.
Finding and recruiting top talent is consistently ranked as one of the biggest challenges for growing SaaS companies. SaaStr Annual attracts thousands of high-quality SaaS professionals across functions like engineering, product, marketing, sales, and customer success. Meet and Find Your Next VP / CXO!
We’ve written a lot on SaaStr on how to increase the odds your first management team is a success. How to hire a great VP of Sales (tons on that here ). What a great VP of sales really does. When to hire her (more here ). How to manage customer success. How to hire a great VP of product.
So one recent survey we did really brought out a healthy debate: does your VP of Sales really need to be a product expert? Many of the comments said it was more important a VP of Sales understand process and leadership more than the product itself. Then I say … you probably made a mis-hire. They often melt. Be present.
There’s a common thinking that sales teams should be relatively high churn. That the bottom 15-20% of the sales team almost has to churn each year, because it’s survival of the fittest. At Salesforce, at Box, the bottom end of the sales team churns out each year. First, do sales reps really compete with each other?
The other day, I met with a great founder who talked with me about how he was about to top his VP of Sales. in ARR in pretty short order, recruiting a great small team of reps under her, and had really nailed the formula. As founders, we often get obsessed with “right timing” hires. More on that here. A lot faster.
I hear again and again from SaaS founders growing to $5m, $10m ARR or even more that they don’t need a certain VP — with the exception of a VP of Sales. Basically, in SaaS, everyone “gets” that they need a VP of Sales. Hire not just 1-2 reps, but 10. I Need a VP of Sales. Manage a trade show?
I thought it would be worth drilling down deeper into each of them, and sharing the learnings and mistakes: 1/ Spending less time fixing things, more time recruiting senior folks to own them. No one spends enough time recruiting as it is, after $1m ARR or so. Yes, you can manage the sales team yourself. You can do this.
“Give the VP of Sales More Time” This is always terrible advice. If a VP of Sales can’t improve things in one sales cycle or less — she never will. In one sales cycle, or less. Don’t hire some junior marketing person that can’t really get you more leads. More on that here.
Someone great at something core you aren’t: Sales, Engineering, Marketing. Great at sales. Great at engineering. If you hire someone to do the first sales, you’ll never understand it yourself. When you go to hire your first sales rep, hire 2. Hire a great marketer early.
For part one of this Ask Me Anything session, Jason covers everything you need to know about hiring your first VP of Sales, what he really thinks about AI, what the future of lead generation in 2024 looks like, and much more. Lead generation tools do change, but the basic motions of sales and marketing haven’t changed much.
The role of a VP is to own everything required to hit the goals for a functional area – Sales, Marketing, Product, Engineering, Finance, or Customer Success. This includes: Recruiting the team. If not, you aren’t hiring a real VP. You’ll end up needing to hire someone else, probably much sooner than you planned.
In SaaS, it is recruiting your VPs and management team : SaaS products mostly don’t sell themselves. You can hack managing and finding 1–3 reps yourself, but after that, you really need a VP of Sales. You’ll need more than 5–6 core engineers to go big. Q: What’s the number one challenge for scale-up founders?
I see this all the time in marketing hires that come out of non-demand gen roles. A head of sales that doesn’t recruit at least one strong rep in the first 90 days. A head of product that doesn’t take over the roadmap, and redirect the engineering team to do something better, faster and bigger. ” Oh.
So an amazing founder CEO often can also be the VP of Sales, VP of Product, hack Marketing, fly across the globe as the VP of Customer Success, and sometimes, even continue to write some code. Engineering. A great VP of Engineering that can just ship the product from spec with no drama, etc. Go hire them.
Many will want to quit when you finally have revenues, just not enough to hire anyone else or pay anyone a decent salary. From $1m in ARR, and Then Forever After: Recruiting Great VPs. You need to learn to become great at recruiting. Why do I need 50 engineers to do what 3 engineers use to do? It never ends.
Startups are business machines engineered to grow quickly. This is one of the most important things to keep in mind when hiring. Every lead hired today, whether marketing , sales, engineering or product, will have a very different job nine months from now, much less two years from now. And ship code on time.
At the excellent SaaStr Annual 2016 conference about a year ago, a very experienced SaaS CEO said on stage that an internal recruiter can be a startup CEO’s secret superpower. I couldn’t agree more, and I think startups should make that hire sooner rather than later. Let’s say you want to hire 10 people in the next 12 months.
Your best sales reps can close so much more than your average rep. Move the bottom 10% out and give the best leads to your top performer, and watch sales go up 20%. The best VPs of Sales design comp plans so the team never wants to leave. You should be striving for zero voluntary attrition on your sales team.
A ways back, I asked Brendon Cassidy, VP of Sales at LinkedIn, Adobe Sign / EchoSign, and Talkdesk to put together his playbook for double sales. … How We Increased Sales Nearly 100% In One Quarter at HackerRank – Brendon Cassidy. I thought it was a great checklist for all of us to take a look at.
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