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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. Executives : 0.3%-1%
06:33 Why Sales Nav was a $250M business with a “crappy product” — and how Doug turned it around. 09:56 Doug’s “awesome test” for hiring top talent (and the 90-day rule he swears by). 13:26 The speed dating hack that landed Coffee’s first sales leader. 17:36 What Doug learned running Sales Cloud at Salesforce — and why he left.
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. Upsell and retention is an art, science and craft. You can’t hack it forever.
In SaaS, once you have even a few million in ARR, the #1 challenge is recruiting top-tier VPs and building a truly top-tier 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.
Pick a few that work for you: Get That Key VPHire Done in Q1. Enough with the excuses for not having hired your real VP of Sales, or that VP of Engineering, or whatever. Hire a real recruiter. Drop other stuff to get this hire done. But anyhow — in January, find a way.
Building a company made up of distributed teams presents a plethora of complex challenges that can derail productivity and impact employee retention. But with it comes immense benefits and competitive advantages such as the diversification of ideas, speedier product development, and representation in important regions and time zones.
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