Baited & Switched @startup?

Left big corporate in July for my first taste of the startup world (SaaS, Series A). 

I'm one of the initial sales guys (first "AE"). First comp plan I signed was 14% commission rate. I agreed to begin in an SDR capacity to build our funnel but to start doing the AE role by November. 

Fast forward to now. Still primarily doing the SDR function. Sales manager is doing the closing. We closed an okay amount of business in Q4 as we had just launched but I only got paid on opportunities I created  (which is slim at this point). I expected to be thrown some bones but that won't happen. Oh, and I still haven't received the details of my stock options plan (HR giving me run around).

This year's plan is doubled quota with a two tiered commission rate (both lower than the initial plan). I get paid higher on net new opportunities I single-handedly create which close (with or without me doing the closing). Anything inbound, from an SDR, or any other channel I'll be paid regardless if I work it or not but it will be a lower rate. 

FWIW: 50/50 OTE, my base is just south of $100K. I was making $150K OTE easy in my previous SaaS gig.

I've a team first attitude but I feel 1) we have no strategy (or pipeline) to hit our sales target 2) the current plan incentivizes me to work without SDR or marketing. I'll be primarily building pipe for a long time but not being paid enough as we are struggling to close biz. And I don't think we have product market fit.

Any thoughts or perspective would be appreciated!



Not even sure we have product-market-fit.


🧠 Advice
📳 SaaS
☁️ Software Tech
15
poweredbycaffeine
WR Lieutenant
13
☕️
Did you get bait and switched, or did you not do enough due-diligence when vetting the company for yourself?

Two options for you:
1) Bust your ass, embrace the startup lifestyle of not knowing what the fuck is going on, and see yourself grow over the next 2 years.
2) Quit and go back to being a number on a stack rank.
braintank
Politicker
7
Enterprise Account Executive
Or 3) - Quit and find a better startup
poweredbycaffeine
WR Lieutenant
8
☕️
Hush. We only show them two doors at first...it ruins "SURPRISE DOOR NUMBER THREE".
CRAG112
Valued Contributor
0
Account Executive
Lol. Build value first. Don't just throw all options at em.
EvenOdds
Contributor
0
capt america
I was misled on a few things but it’s my fault for not uncovering them. Although sometimes you’ve got to take a bit of a flyer.
UrAssIsSaaS
Arsonist
5
SaaS Eater
Not to be a dick here but it sounds to me like you took a flyer on a small company and didn't do a ton of HW and/or decided that the red flags you did uncover didn't matter. 

If you knew going in that they hadn't sold much and lacked product market fit, why did you still take the role? 

This sounds like a lot of startups, especially in the series A world. I dont think you got bait and switched but rather joined a company that does not have a fully fleshed out plan yet. You have the opportunity to really make an impact here if you think this company has legs.

You aren't at a big F500 company anymore so no one is going to hold your hand and tell you how to be successful so if you want to win you're going to have to figure shit out on your own. Go test stuff, be ready to fail a ton and learn from each step. You can win here but no one is going to tell you how, you need to figure it out on your own. 
EvenOdds
Contributor
1
capt america
I was misled on few things but in the end you’re right it’s on me to do proper DD. Thanks for the perspective!
braintank
Politicker
3
Enterprise Account Executive
No amount of hustle fixes lack of product market fit.
UrAssIsSaaS
Arsonist
1
SaaS Eater
Yup agreed, IF there is product market fit you can make this work is all I am trying to point out. If not then hes probably fucked. Hard to say from info here though if there is fit or not or if its just shitty GTM strategy. 

braintank
Politicker
2
Enterprise Account Executive
So... Why'd you leave?
EvenOdds
Contributor
1
capt america
I want to make more and not be a corporate drone?
Sunbunny31
Politicker
1
Sr Sales Executive 🐰
Do you think there’s any chance you make more at this gig, or are you thinking it may be time to start looking for something else?
braintank
Politicker
11
Enterprise Account Executive
First, drop the "drone" language. Working at a large company doesn't define who you are. 

Second, it sounds like you're working at a doomed company:
• No product market fit
• Shady leadership (e.g. 6 months with no equity update)
• No strategy (e.g. convoluted comp plan)

You made a mistake. You were eager to leave you went to a shop that is unlikely to make it. You're now getting paid less with no path to making the money you want.

Polish your resume, figure out the narrative you want to employ about why you're leaving after 6 months, and go find another job.

Shameless plug:  https://bravado.co/war-room/posts/somewhat-comprehensive-guide-to-avoiding-a-toxic-startup
UrAssIsSaaS
Arsonist
1
SaaS Eater
Really good advice here, summed it up better than I could. 
Diablo
Politicker
1
Sr. AE
Your last statement got me worried. How have you estimated that there is no Product-Market fit? Who were buying your products? What's their use cases? Are they disconnecting soon after subscribing? What actions are taken to make it a Market fit.

If you are not really happy with the money and that's the top goal, you might want to look at switching.
EvenOdds
Contributor
1
capt america
Before I arrived no one had really bought anything. Small pilots here and there. Our average deal size is $15K right now. Target this year is $1.5Mil. However, the biggest scare is current customers aren’t using the product.
braintank
Politicker
2
Enterprise Account Executive
Yikes
FinanceEngineer
Politicker
0
Sr Director, sales and partnerships
Yeah, you were brought in to get people to buy it. It might need a better value prop, or target someone else in the org. A better question - how are the pilots going and why aren’t customers using it (competitor or just timing)?
FormerStartupJobHopper
Tycoon
1
AE
It's never good to work somewhere without product market fit. And it sounds like the longer you stay, the rustier you are getting on closing, which will almost certainly come up when you are inevitably trying to leave at some point. Your base is pretty nice, otherwise, idk why you'd stay
Corpslovechild
Politicker
1
Inbound Sales Manager
In this job market, BYYYYEEE.
CRAG112
Valued Contributor
1
Account Executive
This is common for startups at this level. Honestly, without vast experience, a high level role, and not needing the money, joining anything less than a series C without at least 50M in funding for that round, and multi millions in funding overall is a poor reality to find yourself in. 

At this point, at least they are paying you a lot for what you are actually doing. If you stick with it and have good relations with everyone, you could easily be running things or have a great role in a few years assuming the company actually does well and moves forward.

Otherwise, now you know.

Best advice. Start looking, be very specific in what you are seeking, and don't leave until you have it. Also, don't ever go to a Series A, or a Series B anything. Maybe even avoid Series C altogether as well.

The reason I say start looking is because they still have not discussed an equity plan with you. This is just like working at a company where you don't get your comp plan until months after you have started. 

I think they are doomed to fail. Try not to be there when they do.
Upper_Class_SaaS
Politicker
1
Account Executive
Start looking for another job now. You can easily explain during the process who you were misled during the process. Been through this and it sucks 
pceccarelli1
Personal Narrative
1
VP of Sale
Leave - the market is hot and if you’re a top performer you can get in anywhere and make money. Best decisions of my career come from leaving when the writing is on the wall - a la Faraday Future.
CuriousFox
WR Officer
0
🦊
Do more thorough research before you make another jump boo.
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