Your VP Sales Has a Sales Quota. Your VP Marketing Has To Have a Quota, Too.


This post is by Jason Lemkin from SaaStr


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Screen Shot 2015-03-27 at 4.35.09 PMA ways back, we did an extremely popular post entitled, Hire the Right Type of VP Marketing or You’ll Just End Up With a Bunch of Blue Pens with Your Logo On Them.  The basic idea was to help folks who haven’t hired a VP or Director of Marketing hire the right one for a pre-Scale sales-driven SaaS company.  Someone that knows, lives and breathes leads, funnels and funnel management, drip marketing, and all the rest.  Someone who knows how Marketo and Hubspot actually work, how to deploy capital and measure CAC, who knows how the whole playbook from first touch to money works, as a science. And most importantly … someone who knows how to deliver leads.  A Lead Commit. Or if you want to go a stage further down the funnel, an Opportunity Commit.  An “Opportunity Commit” works well for bigger ACVs ($20k+) in my experience and less well Continue reading "Your VP Sales Has a Sales Quota. Your VP Marketing Has To Have a Quota, Too."

What Does It Take To Be “Venture-Fundable”?


This post is by Jason Lemkin from SaaStr


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What is the minimum projected annual revenue in the exit year and projected exit valuation for a startup to be investable from a VC?

For most “traditional” U.S. VCs doing early-stage investment, the goal is simple:

  • At least 1 investment out of every 20 or so per fund needs to be worth $1 Billion or more within 10–15 years.

If that happens, the math generally works out. If there is more than 1 “Unicorn” per fund (i.e., per every 15–30 investments), even better. If there is a “Decacorn” (i.e., worth $10 Billion+), then the fund makes a lot of money.

So VCs are thinking that when they meet you. Is there a 5-10% chance this investment might be worth $1B+? Or more subjectively, is there a real chance, given the team, the market, and the very early traction?

If so, it’s a good bet.

In Continue reading "What Does It Take To Be “Venture-Fundable”?"

How a Merger of Salesforce and Slack Would Change the SaaS Landscape


This post is by Tomasz Tunguz from Tomasz Tunguz


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    The rumor mill churns with whispers Salesforce will acquire Slack. This combination would be strategic for both involved for three reasons.
First, Salesforce and Slack share Microsoft as their most significant competitor. Microsoft Teams' rapid assault and consequent market power into the corporate instant messaging market transformed the market dynamics in less than 12 months. Microsoft has amassed the most extensive channel for SaaS companies, and each of these vendors pushes teams to current customers, many of whom are moving to the cloud and relying on Microsoft for guidance. Combining with Salesforce would enable Slack to sell through Salesforce account executives and the Salesforce channel in addition to their go-to-market efforts. The merger would establish a greater degree of parity in GTM muscle. Second, Slack + Salesforce enables superior integration of instant messaging workflows into this generation’s essential system of record. With Teams bundled into Microsoft cloud upgrades and often Continue reading "How a Merger of Salesforce and Slack Would Change the SaaS Landscape"

Why You Might Not Actually Enjoy Being a VC


This post is by Jason Lemkin from SaaStr


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There may be times, maybe even many times, in the earlier days when you look at VCs and Venture Capital and think — that’s the easy way.  They drop into a few board meetings, and take 10%, 15%, 20% or more of the start-up for seemingly relatively little work.  They get to make multiple bets each year, and in each fund.  And heli-ski and sleep soundly at night.

There is some truth to that, for sure.  But VC is brutally competitive and hard to do well.  A few thoughts on maybe why the grass isn’t quite as green on the other side as you might think:

How to Succeed as a First-Time VP of Sales. Or Just a First-Time VP in General.


This post is by Jason Lemkin from SaaStr


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rookierWe’ve talked a lot on SaaStr about how to hire a Great VP of Sales.  And we’ll keep talking about it — so long as 70% of first-time VPs of Sales don’t make it 1 year. I wanted to take a moment to explore the flip-side … a guide to why first-time VPs of Sales that finally get their shot — fail.  I’ve seen so many fail, and almost always, for avoidable reasons.  Reason #1 is jumping to Stretch VP of Sales one stage too early.  A great VP of Sales has to have recruited at least 2-3 quota-carrying sales reps before under her to succeed on her own.  So don’t come out of the hatchery too early. Beyond that, I see a series of other avoidable mistakes that lead to a train wreck as well. If you can avoid most things on this list — your odds of success go Continue reading "How to Succeed as a First-Time VP of Sales. Or Just a First-Time VP in General."

SaaStr Podcast #400 with Splash CEO Ben Hindman and SaaStr CEO Jason Lemkin: “The Future of Digital Events”


This post is by Amelia Ibarra from SaaStr


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Ep. 400: In today’s SaaStr Insider episode SaaStr CEO and Founder Jason Lemkin catches up with Ben Hindman, Co-Founder & CEO at Splash to talk about the future of digital events.

This interview was part of Splash’s Boom, a video series about the innovation explosion in events and the tech stack.

  This episode is sponsored by Outgrow.       This episode is sponsored by Secureframe.     If you would like to find out more about the show and the guests presented, you can follow us on Twitter here: Jason Lemkin
SaaStr
Ben Hindman Below we’ve shared the transcript of Jason’s conversation with Ben. Announcer: Welcome to the official SaaStr Podcast. What do Salesforce, Moz and HubSpot have in common? They use calculators, graders and quizzes to attract relevant users to their website and turn them into paying customers. Find out Continue reading "SaaStr Podcast #400 with Splash CEO Ben Hindman and SaaStr CEO Jason Lemkin: “The Future of Digital Events”"

When Should You Add a Second Product?


This post is by Jason Lemkin from SaaStr


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A few years back at SaaStr Annual, we put back-to-back a seemingly very different set of speakers, Jeff Lawson CEO of Twilio (transcript here) and Peter Gassner of Veeva (transcript here). Both are two of the most impressive and inspiring public SaaS CEOs — but their products and companies couldn’t be more different.  Veeva sells eight figure deals to a very small number of very sophisticated customers, while Twilio has a huge long tail and starts at $0.0085 a minute 🙂 But I wanted to pair them for several reasons.  One was to get a sense of what the bar was to pull off a successful SaaS IPO these days (answer = oh man, very high).  Another was to see examples of some relatively capital efficient companies (Veeva raised less than $10m in VC money on the way to $6 billion in value!). And a third key
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Continue reading "When Should You Add a Second Product?"

Celery, Sweat and Sleep—SaaS Execs on Maintaining the Energy to Lead


This post is by Casey Renner from Openview Labs


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Early mornings, late nights and back-to-back meetings—the amount of time an executive needs to be “on” every day is nothing short of exhausting. We’re firm believers that you can’t take care of others if you don’t take care of yourself, but we realize sometimes that’s much easier said than done. To help, we asked some of the top executives in our network to share their advice for maintaining enough energy to not just make it through busy day after busy day, but to be able to show up as strong leaders all day long. Here’s what they had to say:
“I’ve been experimenting with the Pomodoro Technique and short time intervals. It promotes a state of flow, and I get energy from checking items off my list. But when a long week calls for an extra boost, it’s hard to beat the rejuvenating properties of Haagen-Dazs chocolate-chocolate chip.”
Continue reading "Celery, Sweat and Sleep—SaaS Execs on Maintaining the Energy to Lead"

We are 14 days away from SaaStr Scale – meet our sponsors!


This post is by Kaitlyn Palatucci from SaaStr


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It is the last SaaStr event of 2020 and it sure has been a wild ride.  Thanks to our partners and sponsors we have been able to take our events digitally – bringing together SaaS industry experts from across the world.  Check out the low down on our sponsors for SaaStr Scale who are helping to make this event happen. Gainsight
Gainsight works to help businesses build deep and lasting relationships with their customers through their very own Customer Success platform. This platform allows customer-centric businesses to deliver exceptional experiences everyday. Don’t miss their session at 7 AM PST on December 9 – Mastering the Art and Science of Product-Led Growth with Gainsight. Conga
Conga eliminates the business bottlenecks through their Digital Document Transformation solutions. These solutions simplify processes, workflows and much more – making every part of the business flow more freely. Grab your
Continue reading "We are 14 days away from SaaStr Scale – meet our sponsors!"