The org, 5 year old Digital Marketing shop with 3 SaaS products, all with proven PMF. Hired in Dec 23. Role: VP Sales - GTM responsibility over newest solution primarily, but also the other 2 that were launched but limping. Top level task? Convert company from marketing services to SaaS and fetch SaaS multiple for exit. "President of Sales" fired in Nov 23, shit performance, revenue flatline for 3 years. Founder sold the first bunch in first year of business. No growth since.
As of December 23:
- Newest solution MRR : $4k, 2 customers on 50% off beta type deals
- # of AEs: 0 # of SDRs 0
- Onboarding/training material: 0
- Sales collateral: 0
- Growth plan: 0
- Comp plans: 0
- Revenue plan: 0
- Org chart: 0
- Playbooks: 0
- CS Churn: Not sure <---
- Marketing: Unintelligible <---
- Total MRR: $1.2M <---
As of August 24:
- 46 Deals Closed/Won
- $248,700 New Logo MRR for $2,984,000 NN ARR
- New solution MRR : $145k, 34 NN Logos on 12-month contracts
- 12 New Marketing Services contracts
- $297,300 in current active pipeline
- # of AEs: 1 # of SDRs 1
- Onboarding/training material: Complete
- Sales collateral: Full library
- Growth plan: Complete
- Comp plans: Complete
- Revenue plan: Complete for 24
- Org chart: Complete for 24 and 25 with growth
- CS Churn: Not sure, but large AF <---
- Marketing: Unintelligible- I will post the website in next post <---
- Total MRR: $1.2M <--- See a problem here?
C-Suite conclusion: Growth not fast enough, revert to founder led sales model. Keep VP Sales, cut comp by 50%, he's tracking 400k, put him on call reports. Dump Hubspot for homegrown CRM. Throw daily meetings at 2PM in his time zone for training. Founder hires 1 rookie and 1 best friend. Takes any inbound. Blows the first 2 opps we've seen in 6 months.
This level of fucking incompetence is one I could not have imagined in my wildest. I told them I wasn't doing it, that I was going to take my accrued PTO and think through this. Fired while on vacation. No severance even though my agreement had $21k if terminated without cause.
Dan Goodman engaged. Will post follow-up. Stay thirsty.
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