GTM 58: How Stripe SuperCharged their SMB Team with Meka Asonye
Aug 29, 2023
auto_awesome
Meka Asonye, Partner at First Round Capital, discusses his experience scaling Stripe's sales organization. Topics include long-term orientation for lead distribution, angel investing tips, and compensation structures for early-stage companies.
Having a long-term orientation and strong values is crucial for success in a company.
Insane growth can be achieved by effectively and strategically working with a small group of people.
Deep dives
Importance of Long-Term Orientation and Values
Having a long-term orientation and living by strong values is crucial for success in a company. This applies to both the overall organization and individual teams.
Importance of Strategic Thinking and Small Teams
Insane growth in a company can be achieved by having a small group of people who work together effectively and strategically. The key is to make moves that are slow but smooth.
Considerations for Success Beyond the Public Eye
To achieve success, it is important to focus on doing what's best for the company even when no one is watching. This can involve consistently showing up, doing the necessary work, and making wise decisions.
Lessons from Personal Journey to Angel Investing
Starting in angel investing requires a clear understanding of one's own value proposition and what they can offer to founders. It is important to focus on areas of interest and gain expertise in those areas. Additionally, having a proactive or reactive investment approach and establishing a clear criteria for evaluating startups can enhance investment decision-making.
Meka Asonye is a Partner at First Round Capital based in San Francisco. Before moving into venture, Meka was an active angel investor backing companies such as Coda, Alchemy, Rimeto (acq. by Slack), Snackpass and Stytch.
Previously, he served as the VP of Sales & Services at Mixpanel, where he ran the more than 100-person global revenue team. Before Mixpanel, Meka spent four years at Stripe and scaled and matured its sales organization during the company's rapid growth from 250 to 2000 people. Prior to joining Stripe, Meka served as Case Team Leader at Bain in San Francisco, partnering with the C-Suites of Fortune 50 companies across different verticals.
Meka started his career working in Player Development & Baseball Operations for the Cleveland Indians. Meka earned a Bachelor of Arts degree cum laude in Economics and Finance from Princeton and his MBA from Harvard Business School
What You Will Learn:
Long-term orientation for lead distribution at Stripe.
Investing in the person, and then the product, is most important in angel investing.
Best tips to start out in angel investing.
Compensation structures that early-stage companies should implement.
Highlights: (3:44) How Meka started his career in player development and baseball ops for the Cleveland Indians.
(8:50) Meka’s biggest challenges during his time at Stripe as the Head of Sales.
(10:15) How the SMB team measured success at Stripe and how it evolved over the years.
(13:14) Balancing lead distribution at Stripe.
(16:28) Practicing “Dumpster Diving” at Stripe.
(18:00) Setting up long-term incentive structures at Stripe.
(22:48) How Meka began angel investing.
(28:10) What Meka learned from his first angel investing experience.
(36:22) The best way to start out in angel investing.
(39:42) Why traditional sales compensation models at early-stage companies are flawed.
(42:00) The importance of educating your customers effectively through each touch.
The GTM Podcast The GTM Podcast is a weekly podcast hosted by Scott Barker, GTMfund Partner, featuring interviews with the top 1% GTM executives, VCs, and founders. Conversations reveal the unshared details behind how they have grown companies, and the go-to-market strategies responsible for shaping that growth.
Visit gtmnow.com for more episodes and other interesting content.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode