alonzotreeman

Strategic account executive

Being in sales when a tech company sells

Working at a tech co for about 6 years working from SDR up to AE. it’s been a great place to work and I’ve loved it. We’ve hit some rocky roads recently and laid off some people and got a new CEO. I’ve heard reliable rumblings he’s talking big time about selling the co fast being his goal.

The type of co we’d sell to wouldn’t have any use for a sales team. They’d keep the tech for internal use only.

Is it worth staying for the sale? Anyone ever been involved in this? I still like working here and I’m in a good spot. Just wondering if I should start looking around casually, aggressively, or stick.

edit: trying to see if anyone was in this same position to know if sales team are out of jobs, is it possible there would be any severance worth staying for?

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🦾 Hardware Tech

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Sunbunny31

Politicker

Sr Sales Executive 🐰

Do you have equity? If you do, then it's worth hanging around and building value in the company so it sells for a high price. If you dont' have equity, it doesn't hurt to start looking around to see if you find something else if you don't like the uncertainty. However, this may be just rumor at this point, and since you haven't yet been acquired, you don't really know what's going to happen with the various team members.

I've been through mergers and acquisitions, but never ones where the sales team wasn't an essential part of the go-forward strategy. That may not be the case for your company, but I don't have any experience with this situation.

alonzotreeman

Contributor

Strategic account executive

I have stock options. Not a ton but some. The best example I could come up with is Amazon buying kiva robotics. They used it for themselves, not to continue selling.

Sunbunny31

Politicker

Sr Sales Executive 🐰

Fair. It sounds like this is still rumor though, but has any timeline been communicated?

alonzotreeman

Contributor

Strategic account executive

Yes rumor. No timeline. Ceo made it clear the goal has always been to sell the company and I’ve known that. He made some comments to sales leadership that imply he was brought on to accelerate the exit.

I was really more trying to feel out of sales team are out of jobs, do they get any kind of severance that it would be worth staying for

Sunbunny31

Politicker

Sr Sales Executive 🐰

They might - all kinds of things can happen with a sale. Equity cash out is a big one, but you don't have that, and sounds like your stock options will be yours anyway (?).

If you enjoy what you are doing, there's no harm in staying for a while. The risk you run by waiting for the sale to happen is being in the position of having to look for work rather than have control over when. Personally, I'd be looking now, because a really great opportunity might be out there, but you have the luxury of being able to take your time right now.

JDialz

Politicker

Chief Operating Officer

**KEEP IN MIND** you only have 90 days after separation to exercise vested options. Be very mindful of tax implications with NQSOs. Depending on what state you’re in, you can really get hammered by the tax man.

Sunbunny31

Politicker

Sr Sales Executive 🐰

^^ is why it's good to be able to talk to an accountant who understands this.

Telehealth_2the_Moon

Notable Contributor

Director of Business Development

The first thing that comes to mind is if you'd like to stay within the company in a non-sales role. It sounds like there won't be a need for sales of your service if the sale goes though so if you'd like to stay is there are an area you could switch to? Most likely not since there likely isn't a need for other "sales adjacent" roles.

If the above isn't an option, either because of the roles or your preference, then it it makes sense to get your resume up to date and start working your professional network a bit. These rumors might not come to fruition but it never hurts to check in with others you know in the space to see what jobs/companies/industries they are hearing good things about.

Last point that comes to mind is if you are a high performer at the current company there is the possibility of staying in a sales role for the new company. That could be as an AE or maybe a subject matter expert for when your current company's tech is a key part of the sales process, not sure if your tech is something that would apply there or would just be on the backend.

Either way, its never fun to be in an uncertain situation but focus on what you can control: your performance, your resume, and your networking

alonzotreeman

Contributor

Strategic account executive

It is possible to maybe stay on in a different role but I’d think anyone who’d be required to continue to develop the tech and keep it running is way better suited to do that than I am as a salesperson.

antiASKHOLE

Tycoon

Bravado's Resident Asshole

If there is a vested interested for you to stay, then sure. If not, I would suggest putting your feelers out there

saaskicker

Celebrated Contributor

Enterprise AE

the market is getting crushed this year, multiples are down. if you're going to get acquired it won't be for a 10x+ exit that you'd hope for, my $0.02.

i'd start taking some calls and lining up the next gig. you're in a good spot, you like your job, so you can be a bit more picky on where you go or interview with next.

CuriousFox

WR Officer

🦊

I agree with this. It's easier to find something better when you aren't desperate.

alonzotreeman

Contributor

Strategic account executive

Good point. Thanks

SoccerandSales

Big Shot

Account Executive

I think this may be a good reference point: https://bravado.co/war-room/posts/company-being-acquired-impact-on-sales-folks

Your situation seems slightly different in the sense that you think the sales org may be nixed altogether. I would probably begin looking and interviewing, but it doesn't really seem like you should be leaving just yet. For all you know, any purchase could open a huge new door.

In short, prep for the worst but hope for the best.

alonzotreeman

Contributor

Strategic account executive

I’ll check that out. It’s possible it could open a new Door but I’m doubtful based on the types of companies we’d sell to.

Kosta_Konfucius

Politicker

Sales Rep

I have not been involved with anything like this, where did you hear there would be no use for a sales team, could it just be rumors?

No matter what, I would update the resume

alonzotreeman

Contributor

Strategic account executive

We make a hardware and a software that are paired together and the type of company that would buy us would be one of our customers. They’d keep the tech for themselves so their competitors couldn’t use. No need to sell anything at that point. Think Amazon with kiva

Kosta_Konfucius

Politicker

Sales Rep

Got it, hard spot to be in

jefe

Arsonist

🍁

There was a thread on this recently. I'd definitely put some feelers out, but you might get retained, and if not you should hopefully get a payout.

TennisandSales

Politicker

Head Of Sales

So i have sorta seen this first hand haha.

I was at a small org that got bought by a massive one. That massive one had NO NEED for our product (just did it for the money grab) The rumor was that we would be sold to a competitor of ours and we all had the same fears.

I worked pretty closely with the CEO at that time.
It would be super rare for you to be sold, and then fired with NO severance. idk if thats even legal haha.
IF you were to get sold shit will get wild for 9-12 months. focus will be lost, direction on clear, no one will know what the hell is going on.

I would wait it out until something ACTUALLY happens. I don think you would be screwing yourself over. Companies love to see loyalty as well, so saying that you stayed through and event like that will look good.

alonzotreeman

Contributor

Strategic account executive

Thanks, best reply so far. FWIW it wouldn’t be that the buyer would have no use for the product. They would have no use selling it. They’d likely use our tech for their business so no one else could use it ya know. But that’s good to know

TennisandSales

Politicker

Head Of Sales

right, that makes sense! keep us posted on how it goes

1001

Executive

Account Manager

Your first sentence has the answer you are looking for. It's been 6 years - time to move on. Find a new challenge and yes you are good and comfortable right now, but to really grow, you likely need this change.

Arzola

Valued Contributor

Business administration

Yes, I have been in similar situations.

In my personal experience, it is preferable to look for other options but not leave... why? Simple, when the new company buys them, there may be another "you" in the other company and some of the two will have to leave, normally because of respect the company keep the person who is with them and leaves you or maybe for a year they will need that u training him in some subject that he does not know, so it is better to simply look for new options. There is no better time to look for a job than having a job and what you do is wait for the new company to tell you that it no longer needs your services, to give you good money to leave without problems and from there you jump to the option that you previously got.

WholesomeGuy95

Good Citizen

Area Sales Manager

I've only been through 1 acquisition while being on a sales team, but I've spoken with enough people to know that it truly varies.

If your company does get sold (congrats!) then they might want to keep a few of you guys on to service current clients-after all, it might take 18-24 months to even merge CRM's. They also might heavy handedly let you guys all go and allow retention to spike (especially if they only bought you for your tech as you theorized).

Regardless, start putting together the collateral that shows the success you had there right now. You'll either need it to convince your acquirer to keep you or you'll need it to look for a new gig when the time comes. Be sure to grab as many written recs as you can, as your HR dept will probably get dismantled and a lot of records could be lost in the shuffle.

Once again, congrats on the career growth, long tenure and good luck with selling the dang thing!

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alonzotreeman

Being in sales when a tech company sells

25 comments

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