Date post: | 26-Jan-2015 |
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Business |
Upload: | stormventures |
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When to Hire (and Fire) Your First VP of SalesWhen to Hire (and Fire) Your First VP of SalesOr Why Up to 70% of First VP Sales Don’t Make It 12 Months
Jason M. Lemkin, Managing Director, Storm Ventures; Founder/CEO – EchoSign/Adobe
@jasonlk
SUPER SNEAK P
REVIEW
Jason M. LemkinJason M. LemkinJason M. Lemkin,
Managing Director, Storm Ventures; Founder/CEO –
EchoSign/Adobe
@jasonlk
Jason M. Lemkin,
Managing Director, Storm Ventures; Founder/CEO –
EchoSign/Adobe
@jasonlk
The First “VP Sales” Probably Has to Be You
You Have to Sell It Yourself First. And Then Hire 2+ Reps.
You You + 2 Reps Hire VP Sales
Ideally, Have 2 Reps Doing Well Before Hire VPS
Otherwise, You Won’t Know Yourself
Don’t Want VPS Starting From Scratch• Too Expensive, Too Confusing
• You’ll Hire Wrong Type of VPS
A/B Test Will Also Help You Learn
Top 5 Things a SaaS VP of Sales Really Does
Note Which One Comes Last #1 Recruiting the Team
• Your going to need a team, and a good one. Quickly.
• Player-Coach sounds great but at best, will be quickly obsolete as a role.
#2 Backfilling and Helping His/Her Sales Team
#3 Sales Tactics
#4 Sales Strategy
#5 Creating and Selling Deals Him/Herself
The Toughest Hire of All in SaaS When
• Too Early: Manager, Not a Magician
• Too Late: Can Take 20 Months!
Who• Been There, Done That – Almost Impossible
• Too “Heavy” a Hire? Or One Without the
Full Experience?
Why• To Take Things To the Next Level; To Scale
• But Usually NOT to Get Sales Going
The Toughest Hire of All in SaaSHire Wrong, and You’re Set Back a Year
A Bad Hire Can Be Far Worse Than No Hire at All – It’s True
A Bad Hire Isn’t Just Hard Costs – It Involves Huge Soft Costs As Well• A B-level VP Sales Hires a B-/C+ Team Under Him/Her
• Revenue Per Lead can actually go down dramatically under a mediocre VPS
• Wastes Precious Leads, Wastes Time, Loss of Second-Order Revenue
A Bad Hire is Often Made Just as Things Are Taking Off• So Most Costly Time at All to Make a Mistake
For the Rest and the Discussion …Come See The SaaStr Presentation At Dreamforce!!