In this episode of The Revenue Builders Podcast hosted by John McMahon and John Kaplan, Snowflake's CRO Chris Degnan delves into the pivotal decisions and strategies that led Snowflake to its incredible growth. Chris shares insights into recognizing key moments and adapting to changing market dynamics. From selling to large enterprises to navigating the shift to the cloud, Chris provides valuable lessons on scaling a successful business.
KEY TAKEAWAYS
[00:00:53] The pivotal moment when Capital One became a game-changer for Snowflake's growth.
[00:02:21] Identifying an ideal customer profile and how it reshaped Snowflake's strategy.
[00:03:06] Mechanically expanding the addressable market and pursuing a larger customer base.
[00:06:40] Balancing the rapid expansion of the addressable market while maintaining focus and not overextending.
[00:08:40] Adapting to changes and reorganizing the sales team to effectively target large enterprises.
[00:10:32] The importance of adaptability, coachability, and a willingness to try new strategies.
[00:12:40] The significance of understanding your company's culture and capabilities before making major changes.
HIGHLIGHT QUOTES
[00:01:19] "We got something, and it was a lot of work because they wanted us to do more engineering work than we originally planned."
[00:04:43] "You can't build a business on just the large enterprise. Getting new logos matters."
[00:05:53] "The competition can't help them vacate the data center; Snowflake can."
[00:07:28] "You can't sell to the large enterprise the same way you're selling to small and medium businesses."
[00:09:24] "What worked before doesn't mean it's going to work forever."
[00:10:50] "You gotta figure out, is this game-changing? How do you balance it and understand what you have in the kitchen before bringing something new?"
[00:12:40] "Before you decide to remodel, figure out what's in the kitchen first."
Listen to the full episode with Chris Degnan in this link:
https://revenue-builders.simplecast.com/episodes/scaling-and-growth-with-chris-degnan
Check out John McMahon’s book here:
Amazon Link: https://a.co/d/1K7DDC4
Check out Force Management’s Ascender platform here:
https://my.ascender.co/Ascender/
