The Official SaaStr Podcast: SaaS | Founders | Investors SaaStr 698: How to Navigate Strategic Change for Growth with SaaStr CEO and Founder Jason Lemkin
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Nov 7, 2023 In this podcast, Jason Lemkin answers questions about investing in a new product line, building vertical vs. horizontal, multiples in 2024, and more. He discusses strategic hiring and the challenges of securing pre-seed funding. The chapter also covers transitioning from founder-led sales to hiring AEs and the implications of the reopening IPO market. Additionally, there is a discussion on valuing early-stage startups in the SaaS industry.
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Shortening Sales Cycles
- Hire a great VP of Sales to shorten sales cycles by creating urgency and identifying key stakeholders.
- A great VP of sales should improve sales processes by at least 20%.
Hiring First VP of Sales
- When hiring your first VP of Sales, have them carry a quota initially.
- They should close deals for a quarter or two before bringing in additional AEs.
Technical Sales Expertise
- Include a solutions architect or engineer, even without the formal title, in technical sales.
- Ensure the sales team has technical expertise to avoid losing credibility with technical buyers.