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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?
Should a startup CTO spend their time programming? Here’s a graphic from Socal CTO that illustrates the roles as they change over time: In its earliest days, a startup’s top need is often to produce a product. Hiring a hands-on lead developer might seem like the right move for an early stage startup. What does the role demand?
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. She can be your CTO forever.
As you try to hire up for your SaaS company, you’re going to be faced with a lot of choices and trade-offs. No hire is the perfect package. But there’s one thing I can tell you in SaaS, at least: Almost Everything Except the Product Itself is Sort of the Same at a Given ACV (Annual Contract Value) Level.
As part of that, we wanted to look back at some of our most iconic content and sessions. One of the first what How to Hire a Great VP of Sales at the New York Enterprise Tech Meet-Up (thank you to John Lehr and Work-Bench for setting this up). I’m doing this thing for the first time. SaaStr is Turning 10!
We then had our own mini rocketship, hitting challenges and being acquired, and then being part of an IPO. But I got to part of the management team and make mistakes, and work cross-functionally with the other leaders and managers. But I started to learn what it took to recruit, inspire, and yes fail a team. I’m still learning.
1: Don’t hire a VP (or anyone in the early days) that you aren’t 95% sure is great. Founders between a million and $250M are talking about lowering the bar for hiring because they aren’t sure if the person is great or they’re trying to fill a gap. If you aren’t meeting that many, you aren’t taking hiring seriously.
Founder CEO Todd McKinnon was VP of Engineering at Salesforce and left to start Okta in the depths of the last downturn. Seat Contractions Have Brought NRR Down From 120% to 111% While 111% NRR is still quite an engine at this scale, the drop in NRR from seat contractions explains a good chunk of the headwinds Okta has seen. #2.
Anyone who says the developer market is not strong is behind the times. They’re able to actually swipe a credit card, and what starts off similar to a freemium self-serve product can turn into a six-figure contract in just a few months. The contract size grows. What’s Different About Selling to Developers.
Scott Beechuk, Partner at Norwest Venture Partners, brings together world-class SaaS engineering leaders Claire Hough, Vijay Gill and Weiping Peng for a dynamic conversation on where SaaS technology is headed, how to build top performing engineering teams and what it takes to lead in today’s high-velocity engineering environment.
As part of the run up to 2021 SaaStr Annual in the SF Bay Area Sep 27-29 , we’re taking a look back at some of our favorite classic sessions. (And You’ll find out tomorrow. Another piece of very, very good startup advice that I’ve given myself a hundred times is the “Do one thing exceptionally well.”
Earlier this week, I wrote about the increase in cash compensation and decline in equity grants to VPs of Engineering and Product in startups. I dug a bit deeper into the data set to find an explanation. I received a lot of comments about the analysis, and in particular hypotheses to explain the data. Venture capitalists.
I actually think I never met any company that have not made a few mistakes about build versus buy and most of the time it’s linked to the long term cost. First of all, I think any good engineer can easily give you 10 good reason to build instead of buy. It’s super easy, like we never find enough arguments to buy.
I find that refreshing. Beyond just being smart, I’ve routinely come across people in tech that are tenacious, objective, and have high emotional intelligence—so much so that I often find myself thinking, “It’s too bad so many of these smart people are building email marketing software!”
This time last year, 24 SaaS experts predicted big things for 2024. Next we’ll be hiring it. However this will take time, so until then, companies will experiment with usage based pricing, and continue the debate whether usage based or licensing is the better pricing model in the long run. What will 2025 bring?
Finding Opportunity Through Humility and Curiosity [07:50]. With Conga, you can simplify documents, automate contracts, and execute e-signatures so you can focus on accelerating sales cycles and closing business faster. Finding Opportunity Through Humility and Curiosity. I came in as a QA engineer. We’re on iTunes.
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. We got a chance to celebrate our initial public offering on the New York stock exchange back in September, which was a really exciting time for me.
When is the right time to hire their first sales reps? What are the most common mistakes founders make when hiring their first reps? What can be done to minimize ramp time of new reps? If you would like to find out more about the show and the guests presented, you can follow us on Twitter here: Jason Lemkin.
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