The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw
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Jun 7, 2023 Rich Liu, CRO at Everlaw and a proven GTM executive, shares his insights on navigating today's evolving sales landscape. He discusses the challenges of price sensitivity and changing deal cycles while equipping startups to better engage with enterprise clients. Rich weighs the pros and cons of Product-Led Growth versus enterprise sales, highlighting when to pivot strategies. He emphasizes the shifting focus on customer renewals and effective sales playbooks, offering critical strategies for hiring and scaling sales teams in a competitive environment.
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First Sales Job
- Rich Liu's first sales job involved cold-calling wealthy people who responded to junk mail.
- The company, Fisher Investments, aimed to revolutionize money management by going direct-to-consumer.
Move Fast
- Rich Liu learned the value of speed and experimentation at Meta, even if it meant breaking things.
- This "move fast" mentality taught him to prioritize multiple attempts rather than seeking perfection.
Selling in Tight Markets
- In a tight market, focus on quantifying how your product solves the CFO's biggest fears, like cost reduction or sales productivity.
- Directly address these concerns to break through procurement barriers and close deals.