5 Simple Tips to Improve Sales Rep Performance in the early-ish days

These always work: 🔽🔽🔽🔽🔽
#1. Concentrate leads in those who can close

If you have a rep or two that just can’t close, that doesn’t work in early days. Leads are too precious. Let them go. Not to save money, but to concentrate leads you do have in those that can close them

The best reps close 2x-9x more
#2. Be more involved as the CEO with sales. Prospects and customers love to talk to CEO. They love it

If you get more involved, at least in bigger deals, you will close more

Top mistake I see CEOs make is to scale back time they spend in sales once they hire few reps.
#3. Build them better collateral and get them more air cover.

Most reps are pretty bad at building sales decks, etc. They can do it, but it’s pretty awful. Most sales reps don’t know how to put on a webinar for prospects and customers. Do more marketing for them.
#4. Put an SLA in place.

Make sure every lead is called back — fast. Always. And if not, the lead goes to someone else.

Prospects inbound when they have a need. Get back to them right now, ideally. Time kills deals, on all levels.
#5. Pay more — per deal closed.

Are you paying enough per deal? It’s OK to overpay per deal in early days, when sales is harder. Everyone needs to build up confidence, and earn a living wage. Later, reps need to bring in 3x-5x what take home. But not necessarily in early days
A bit more here:

saastr.com/5-simple-tips-…

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More from @jasonlk

15 Nov
The key to a good financial plan for 2022 IMHO:

1/ Start with a base plan, one you have about 60% confidence in.

This literally can just be based on your average growth and burn for the past 4 months

Just roll that forward. It's usually pretty predictive.
2/ Then build your stretch plan. One you have 10%-20% confidence in. That will be hard, but can be done. I call this a C-10 plan.

Usually it about 20% higher in revenue than the C-60 / Base plan
3/ Finally, build your It's Harder Than We Thought Plan -- the one you are 90% sure you'll hit.

This is 20% less revenue than the base plan -- but with the same burn.

Your zero cash date will shrink. This is just for worser case planning.
Read 5 tweets
15 Nov
Usually if you have > 2 and < 10 sales reps,

Just moving on from the lowest performer (or two) gives you a 10%+ boost right then and there

Leads are precious for quite a while
Once you hire a strong VP of Sales, this problem will solve itself. She’ll make the calls, and backfill her team, and cover all the leads one way or another.
But if you’re still running sales yourself after 2 reps or so, you’ll usually hire a few reps that simply can’t repeat the quirky playbook of the 2 you hired that can close

That’s your fault, not theirs. But it happens in almost every startup I’ve worked with.
Read 4 tweets
13 Nov
Datadog is the latest Cloud leader to grow faster than ever

It's now growing 75% at $1.2 Billion in ARR!!

The key? Getting customers to buy 4+ products

5 Interesting Learnings: 🔽🔽🔽🔽🔽
#1. 1,800 customers with ARR of $100,000 or more, a year-over-year increase of 66% from 1,082.

Datadog isn’t leaving smaller customers behind, but they are increasingly a smaller % of revenue. $100k+ customers have gone from 50% of revenue in 2016 to almost 80% today:
#2. More product, more products, more products.

10 new products this year. Almost all the Cloud leaders accelerating after $100m ARR, let alone $1B ARR, are multi-product.
Read 10 tweets
6 Nov
6 Insights for SaaS Sales in 2022:

#1. The classic high volume cadence-based outbound playbook is declining in effectiveness — but you still need to run it.

It still works. Just not nearly as well as a few years back.
#2. Your VP of Sales needs to own outbound themselves.

The toughest hire is a “Director of Outbound” today. You can’t outsource great outbound, & a VP of Sales that’s not good at it or has never done it can’t just go find a unicorn Director of Outbound.
#3. Top CROs and late-stage SVPs of Sales are getting better and better at retaining that first VP of Sales that got the company to scale.

The best CROs and such don’t replace a winning leader when they join — they augment them and help them scale further.
Read 7 tweets
31 Oct
Top 5 SaaStr Posts of the Week:

#5: "Is It Now “Triple, Triple, Triple, Double, Double, Double” — T3D3 — For Top Tier SaaS Startups? Probably."

saastr.com/is-it-now-trip…
#4: "The Benefits of Hiring a Stretch VP of Sales (and The Risks)" with @BrendonCassidy

saastr.com/the-benefits-o…
@BrendonCassidy #3: "5 Interesting Learnings from Expensify at $140,000,000 in ARR"

saastr.com/5-interesting-…
Read 4 tweets
30 Oct
Amplitude is the first pure-play analytics SaaS company to IPO in quite a while

It's growing a stunning 57% at $150m+ ARR ... and that's up from 50% just a year ago

It's a $7B leader so many of us rely on in our products

5 Interesting Learnings: 🔽🔽🔽🔽🔽
#1. 1,200 total paying customers, with 300 of them at $100k ARR and 22 at $1m+ ARR

Amplitude has consistently gone upmarket, but not radically. This is the sort of organic upmarket path a lot of us see, growing more enterprise each year:
#2. Customer count growing as fast as revenue — rare, & a great sign for future

New customers grew from +41% in 2020 to +51% in 2021! Most leaders at scale with high NRR get more & more revenue from existing base. Having that high a ratio is a strong sign of future growth.
Read 8 tweets

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