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Blog Posts, Compensation, Growth, SalesIt’s Time To Start Getting an Uber/Lyft Rating for Sales Reps. And Paying Them Based On It.
This year we’ve had a string of fairly terrible experiences buying software at little ol’ SaaStr: With one well-known SaaS vendor, an employee e-signed a 2-year contract without permission. We…
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Blog Posts, SaaStr NewsLinkedIn Names SaaStr #1 Voice in Startups & Entrepreneurship!
About 18 months ago, we started to invest more in LinkedIn, both in publishing and our feed. We went from a handful of followers 2 years ago to almost 160,000…
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Q&AOnce your equity vests in a startup, what are the advantages of staying around?
It’s an interesting and subtle question, especially these days in the Bay Area, where many barely stay 1 year to their cliff, let alone the full 4–5 years to vest….
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Career Growth & Advice, Early, Leadership, Marketing, Marketing Strategy, Other, SaaStr Events, VideosVisual Stories that Sell With Pixar and Prezi (Video + Transcript)
Well-known storytellers, Jason Katz – Chief Storyteller @ Pixar, and Peter Arvai – Co-Founder & CEO @ Prezi, held a powerful session on all things storytelling at SaaStr Annual 2018….
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Blog PostsMeet VCs from Bessemer, Sapphire, August, Emergence, Creandum, Bain, Scale, Iconiq and Many More at SaaStr Big Holiday Party THIS Thursday
It’s almost here! The once-a-year SaaStr Huge Holiday Party! This Thursday November 15th from 3pm-10pm. We’ll start off with mentoring and networking at 3pm, and amazing sessions on scaling your business…
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The Top 3 Critera for Hiring Your First Head of Sales
We’ve talked a lot on SaaStr about hiring that first VP of Sales. But what if you can’t find the right person, and you’ve spend months looking. What risks should…
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Q&AWhat are the most important qualities to look for when hiring a sales manager for SaaS?
The top 3: #1: Have they hired 2+ quota-meeting/exceeding reps before. This is #1 by far. If they’ve never hired 2+ great reps before, you are taking on a lot…
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Q&AWhat are the 5 main differences about how sales is scaled in Europe vs the US?
Having invested in 22 Europe->U.S. companies, I am not sure the differences are all that huge, absent cases where there are regulatory differences. But in SaaS, there are fewer veterans…
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Company Culture, Early, Fundraising, Hiring, Human Resources, Leadership, PodcastsSaaStr Podcast #199: Jon Stein, Founder & CEO @ Betterment on The 3 Key Roles For A SaaS CEO
Welcome to Episode 199! on Stein is the Founder & CEO @ Betterment, the online financial adviser built for people who refuse to settle for average investing. To date, Jon has…
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Blog Posts, Growth, SalesWhat’s Your Loss Rate? You Really Should Know.
A ways back on SaaStr, we wrote a classic post, Beware of the Confidence of High Win Rates. It’s something I see again and again, especially below $2m in ARR…
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Blog Posts, SaaStr EventsTop 5 Reasons to Come to the SaaStr Annual 2019
There’s something really magical that happens when you gather with your peers. People with the same interests, the same challenges, the same unknowns. Folks who not only understand you, but…
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Blog Posts, Early, Sales, Sales Strategy7 Of The Most Common Mistakes Made Building Your First Sales Team
Building your first sales team will be an endless series of mistakes. It’s OK. Plan for me. But there are a few avoidable, key mistakes I see start-ups making >…
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Q&AHow can you land a big client as a SaaS that no one has heard of?
Solve one of their top pain points, for real — that no other vendor is solving. If you haven’t sold to the F500 / Global 2000 before, you’ll be somewhat…
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Q&AHow would you go about implementing a sales process for a low ARPU product (less than $200)?
It’s very tough, but it can be done. Just not in San Francisco using traditional SaaS employees and processes. Assume in the end, sales takes home 20% of a deal…
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Q&AHow should your approach to segmenting customers change as your sales team scales up?
I’m not sure I have any magic insights. After maybe $8m-$10m ARR, you probably should segment into 3–4 categories, assuming you have customers in all segments: “Commercial”. This often means…
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The Top 100+ SaaStr Posts to Help You Scale
"SaaStr is the largest community of people who like enterprise software on the planet. It’s a great community of people trying to build companies and learn from one another. It’s pretty amazing to see."
Aaron Levie, CEO and Co-Founder of Box
"SaaStr is the undisputed thought leader in how to build SaaS businesses. Jason is legendary."
Lew Cirne, CEO of NewRelic
"SaaStr has pulled the entire SaaS community together in a powerful way."
Scott Dorsey, CEO of ExactTarget
"SaaStr is my peeps."
Dharmesh Shah, CTO of Hubspot
"SaaStr is definitely the largest collection of people who like enterprise software — on the planet."
Aaron Levie, CEO and Co-Founder of Box
"SaaStr’s all about helping the younger founders be successful."
Phil Fernandez, CEO & Co-Founder of Marketo
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What is the best piece of advice on closing deals for a new, inexperienced salesman?
Add value. Most new salespeople focus a lot on the transaction. What’s your budget? Do you need a discount? How big a discount? Can I give you a bigger discount? What questions do you have? If I give you an even bigger discount, can you sign right now? Your discount...
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The biggest structural difference is you have to hire all the VPs by employee 50–100. You won’t be able to scale this far without a full management team — VPs of Sales, Marketing, Product, Engineering, Customer Success at least. But the toughest personal challenge for...
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The part I didn’t originally get was how relatively easy is it to grow exising accounts and account size if your customers are happy. We segmented customer retention by Small, Medium and Large accounts after about 24 months and saw a pattern that I now know is fairly...
What should B2B SaaS companies do to ensure the success of their customers and reduce churn?
I know this sounds overly simple, but the answer is: Measure it. Set goals to improve it. Pay people to improve it. Too many start-ups don’t even know their CSAT and NPS. Too many start-ups don’t even visit their customers in person. Too many start-ups don’t know why...
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A few that are easy to fix: Not standing (when you present to > 2–3 folks). When you stand, you present better. Period. Standing turns you into the center of the audience, into the owner, the presenter. Sitting is great for a small convo, but sucks all the energy out...
How should I design sales reps compensation plans at $10k MRR?
Figuring out your very first sales comp plan when you don’t have a repeatable process or much revenue is confusing. I was exactly in the place you were (first rep at $10k MRR) and everyone faces some similar challenges: There’s no way this early you can expect a rep...
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