Perhaps the #1 mistake I see startups make after $1m ARR is hiring a VP of Sales that is good ...
But not good for >their< startup. A mismatch.
And revenue then goes down, not up.
Here’s a 5 part test to make sure that doesn’t happen: 👇🏼
But not good for >their< startup. A mismatch.
And revenue then goes down, not up.
Here’s a 5 part test to make sure that doesn’t happen: 👇🏼
#1. Your VP of Sales should have lots of experience selling at your average ACV.
A great VP of Sales that has mainly sold $100k deals just isn’t going to make it at a $5k ACV start-up … no matter how strong they otherwise are.
A great VP of Sales that has mainly sold $100k deals just isn’t going to make it at a $5k ACV start-up … no matter how strong they otherwise are.
Whatever your target ACV is for next year, that should be the #1 area your VP of Sales hire is good at.
Being good at a certain deal size also means you know how to manage the velocity, the pipeline, the opportunities needs, the hiring needs, etc. for that type of sale.
Being good at a certain deal size also means you know how to manage the velocity, the pipeline, the opportunities needs, the hiring needs, etc. for that type of sale.
#2. Your VP Sales should have hired at least 2-3 quota-hitting reps before. Make sure they really have. Go talk to at least 2 of the reps. See if it’s all really as it seems
If your VPS candidate knows how to source and hire 2+ AEs & make them successful, they can do it again
If your VPS candidate knows how to source and hire 2+ AEs & make them successful, they can do it again
#3. Your VP Sales should have 1-2 reps they’ve worked with that want come with them to your startup
Being a VPS is about managing, recruiting & building great teams. A good VPS candidate should have at least 1-2 of top reps from last role that want to join them at next one
Being a VPS is about managing, recruiting & building great teams. A good VPS candidate should have at least 1-2 of top reps from last role that want to join them at next one
#4. Your VP of Sales should have experience at least at the stage you’ll be at next year.
Not every VP has to have true “start-up experience”, but it’s super risky if they didn’t at least work for a while at the stage you’ll be at >next< year.
Not every VP has to have true “start-up experience”, but it’s super risky if they didn’t at least work for a while at the stage you’ll be at >next< year.
#5. You have to believe. Do not hire a VP Sales you don’t 100% believe in
This sounds silly, but I see this mistake so often. Especially w/ VPS with great-seeming resumes & domain expertise. Hooray, they worked at Slack. But if deep down you don’t 100% believe .. don’t make hire
This sounds silly, but I see this mistake so often. Especially w/ VPS with great-seeming resumes & domain expertise. Hooray, they worked at Slack. But if deep down you don’t 100% believe .. don’t make hire
Bonus criteria #6:
It helps a ton if the last product they sold … was harder to sell. Sales is always hard. But coming from say, a product with huge brand lift to one that’s harder to sell … those VPs of Sales almost always struggle.
It helps a ton if the last product they sold … was harder to sell. Sales is always hard. But coming from say, a product with huge brand lift to one that’s harder to sell … those VPs of Sales almost always struggle.
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