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When to Hire (and Fire) Your First
VP of Sales
Or Why Up to 70% of First VP Sales Don’t Make
It 12 Months

I
V

W
E

Jason...
Jason M. Lemkin
Jason M. Lemkin,
Managing Director, Storm Ventures;
Founder/CEO – EchoSign/Adobe
@jasonlk
The First “VP Sales” Probably Has to Be You
You Have to Sell It Yourself First. And Then Hire 2+ Reps.

You

You + 2 Reps
...
Ideally, Have 2 Reps Doing Well Before Hire VPS
 Otherwise, You Won’t Know Yourself
 Don’t Want VPS Starting From Scratc...
Top 5 Things a SaaS VP of Sales Really Does
Note Which One Comes Last
 #1 Recruiting the Team
• Your going to need a team...
The Toughest Hire of All in SaaS
 When
• Too Early: Manager, Not a Magician
• Too Late: Can Take 20 Months!

 Who
• Been...
The Toughest Hire of All in SaaS
Hire Wrong, and You’re Set Back a Year

 A Bad Hire Can Be Far Worse Than No Hire at All...
For the Rest and the Discussion …
Come See The SaaStr Presentation At Dreamforce!!
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Sneak Preview: SaaStr at Dreamforce; When to Hire (and Fire) Your VP of Sales

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Come to Dreamforce for the SaaStr session -- Tuesday Nov. 19th at 4pm. Right before Marissa Mayer.

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Sneak Preview: SaaStr at Dreamforce; When to Hire (and Fire) Your VP of Sales

  1. 1. When to Hire (and Fire) Your First VP of Sales Or Why Up to 70% of First VP Sales Don’t Make It 12 Months I V W E Jason M. Lemkin, Managing Director, Storm Ventures; Founder/CEO – EchoSign/Adobe @jasonlk S P U R E S E N K A P E R
  2. 2. Jason M. Lemkin Jason M. Lemkin, Managing Director, Storm Ventures; Founder/CEO – EchoSign/Adobe @jasonlk
  3. 3. The First “VP Sales” Probably Has to Be You You Have to Sell It Yourself First. And Then Hire 2+ Reps. You You + 2 Reps Hire VP Sales
  4. 4. Ideally, Have 2 Reps Doing Well Before Hire VPS  Otherwise, You Won’t Know Yourself  Don’t Want VPS Starting From Scratch • Too Expensive, Too Confusing • You’ll Hire Wrong Type of VPS  A/B Test Will Also Help You Learn
  5. 5. Top 5 Things a SaaS VP of Sales Really Does Note Which One Comes Last  #1 Recruiting the Team • Your going to need a team, and a good one. Quickly. • Player-Coach sounds great but at best, will be quickly obsolete as a role.  #2 Backfilling and Helping His/Her Sales Team  #3 Sales Tactics  #4 Sales Strategy  #5 Creating and Selling Deals Him/Herself
  6. 6. The Toughest Hire of All in SaaS  When • Too Early: Manager, Not a Magician • Too Late: Can Take 20 Months!  Who • Been There, Done That – Almost Impossible • Too “Heavy” a Hire? Or One Without the Full Experience?  Why • To Take Things To the Next Level; To Scale • But Usually NOT to Get Sales Going
  7. 7. The Toughest Hire of All in SaaS Hire Wrong, and You’re Set Back a Year  A Bad Hire Can Be Far Worse Than No Hire at All – It’s True  A Bad Hire Isn’t Just Hard Costs – It Involves Huge Soft Costs As Well • A B-level VP Sales Hires a B-/C+ Team Under Him/Her • Revenue Per Lead can actually go down dramatically under a mediocre VPS • Wastes Precious Leads, Wastes Time, Loss of Second-Order Revenue  A Bad Hire is Often Made Just as Things Are Taking Off • So Most Costly Time at All to Make a Mistake
  8. 8. For the Rest and the Discussion … Come See The SaaStr Presentation At Dreamforce!!

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