This week, the Bowery Capital team hosted Evan Bartlett, Head of Inside Sales at ZocDoc to discuss “Hiring Your First Sales Representative." ZocDoc is an online medical care scheduling service, for end users integrating information about medical practices and doctors' individual schedules in a central location. Each month, millions of patients use ZocDoc to find in-network neighborhood doctors, instantly book appointments online, see what other real patients have to say, get reminders for upcoming appointments and preventive checkups, fill out their paperwork online, and more. With a mission to give power to the patient, ZocDoc’s online marketplace delivers the accessible and simple experience patients expect and deserve. ZocDoc is free for patients and available across the United States via ZocDoc.com In today’s episode, Evan joins us to discuss hiring your first sales representative. The conversation started by discussing when to hire the first sales representative. This included the process of building a sales process and its link to the go-to-market strategy. Next Evan discussed when to identify the market and key factors in this process. Evan then summarized the details around the background and skillsets of a sales representative. Evan discussed his thoughts around the structure of the hiring process and the onboarding and ramp up process for new sales representatives. Next Evan discussed setting benchmarks for the first hire and tying those metrics to compensation. In this hiring process, Evan discussed how he made several mistakes and how he pushed ahead. We then transitioned to expanding the sales team from 1 to 100. Evan discussed how to maintain culture despite high growth. Next Evan described how the hiring process shifts with a larger team and how these sales representatives differ from the original team. Evan then discussed the importance of repeatable sales to the business and how he thinks about that skill in hiring new sales representatives. Evan closed out the session by providing his go-to tactics and tricks in the hiring process.
This week, the Bowery Capital team hosted Jason Dorfman, Inside Sales Manager at Rubrik, to discuss "Sales Recruiting 101 for Founders." Founded in 2014, Rubrik offers live data access for recovery and application development by fusing enterprise data management with web-scale IT, and eliminating backup software. This marks the end of a decade-long innovation drought in backup and recovery, the backbone of IT. Within minutes, businesses can manage the explosion of data across private and public clouds. Rubrik is trusted by some of the world's leading companies, including Driscoll's, JLL, the Tampa Bay Rays and Berkeley College. In today's episode, Jason joins us to discuss sales recruiting 101 for founders. He starts by touching on the importance of building your product and getting market validation before hiring your sales team. He discusses how to think about hiring your first salesperson and whether it should be a lead generating SDR or an inside sales rep with closing experience.He talks about how what he pitches candidates on has shifted as the company has grown from startup to 400+ employees and how his interview style has changed with that growth. Jason tells us his favorite question to ask during the interview process and recommends using recruiters as a resource to fill pipeline. He says he allocates about 30% of his time to recruiting and finds it to be seasonal - spending a lot of his time in interviews and on phone screens. For Jason, when it comes to hiring, the most important thing is finding the right people. He even urges managers to be willing to fall short of hiring goals if you haven't found the right people during an interview process. He says every time you hire a salesperson, you should believe there is a chance they can be the number 1 salesperson at your company. Finally, Jason advises anyone who is hiring to be patient, keep a cool head and think long term - even if you are under intense pressure to fill roles - and he leaves us with a great quote: "good people fix bad process, good process and bad people is not a good situation."
This week, the Bowery Capital team hosted Bobby Long, VP of Sales at Dedrone, to discuss "Insight Selling In The Modern Market." Dedrone is the first automated drone security platform; an extension of physical and cyber security into the airspace that protects a vulnerability gap exploited by the advances in consumer and commercial drone technology. Their most notable references include the Clinton-Trump presidential debates, the Suffolk County prison in New York, the Royal Family of Qatar, Citi Field (the New York Mets' stadium), and the World Economic Forum in Davos. In today's episode, Bobby joins us in the studio to discuss insight selling in the modern market and why he takes this approach. First, he talks about the differences between solution selling and insight selling. He defines solution selling as "Sales 101" where you get a deal by finding customer pain points and fitting your solution to those pain points within your prospect's budget. Bobby sees most companies using solution selling and sees an opportunity to differentiate by using insight selling, which he says allows you to position yourself as a subject matter expert and establish credibility and legitimacy. Bobby says that if you employ insight selling the right way, you form more of a partnership with your prospect or customer, leading to a higher rate of renewals. He discusses the challenges of insight selling and why it's not for every rep, along with some of the difficulties he's faced teaching reps how to insight sell and some solutions for getting around them. Finally, Bobby says not to be afraid of making visionary statements during the sales cycle versus just talking about what your product does, and he recommends reading this Harvard Business Review article.
This week, the Bowery Capital team hosted Grant Halloran, CMO at Anaplan, to discuss "Analyst Relation Strategies That Work." Anaplan is driving a new age of connected planning. Large and fast-growing organizations use Anaplan’s cloud platform in every business function to make better-informed plans and decisions and drive faster, more effective planning processes. Anaplan also provides support, training, and planning transformation advisory services. In our episode today, Grant joins the podcast to discuss analyst relation strategies that work. First, he talks about how the landscape over the last 10 years has shifted from working strictly with Gartner and Forrester to working with newer, independent analysts that produce their own research and blogs, as these smaller guys can be very important to companies serving niche type markets, while continuing to work with the two giants. He says to nail analyst relations, you must start by engaging analysts very early on. He stresses the importance of a CEO or founder working with analysts, as they want to hear why you've decided to enter the market you have, and not to think of analyst relations as a marketing function for a CMO or Head of Sales to figure out. He's helped companies become Gartner Magic Quadrant leaders and touches on ways to help your company get there, including the need to become a paying customer. He gives pointers if you get to a point where you feel you've invested in analyst relations and aren't seeing any traction in write-ups or reports. Grant says that your pitch to an analyst is a level above a normal sales pitch, and that running your sales pitch by an analyst for feedback and to see how you differentiate from competition is a good idea. He talks about quantifying and measuring success with the analyst community and explains how Anaplan does this. Grant wrapped up by urging CEO's to make analyst relations one of their top 3 or 4 priorities and saying that having a good attitude towards the community will resonate with analysts and help you in the long run.