BitcoinAddict

AE

Valued Contributor

Facing another lay off soon, how to end this nasty cycle and get into healthy companies?

So I got news from my VP today that come January 2024, I am going to get laid off. I am 5 years into my SaaS career and my longest tenure to date has been 2.5 years in a role where I went from SDR to AE.

Since then, I had 4 months at a startup that hired and fired me. Now I have had 8 months in my current role where I am getting told I am going to be laid off.

I feel like I keep falling into this cycle and do not know how to break out of it.

I want a healthy company that is well-established but in the final round, I cannot get the offer. Then I need a job at some point and I end up at a startup that pays me a nice base ($80k plus) but now I am left facing this stuff.

It's a nasty cycle I do not know how to break out of. The companies I want to work at I can get reference calls and even into the final stages with but ultimately, do not get the offer. If I do, it is abysmal like a 50k base and 100k OTE.

I am having a minor crisis...

☁️ Software Tech

39

48 comments

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medhardwaredr

Opinionated

16

Director of Sales NA

Try smaller private or family owned saas companies if you feel you must stay in that lane. My professional and personal recommendation however would be to switch industries to dodge the turn and burn culture which is only going to keep getting worse.

Manufacturing, medical hardware or device, weapons/defense, raw materials are some incredible industries with great pay and far more security.

If you’re wondering about barriers to entry you won’t have many if you were a good/great SaaS rep. Your skills are above what they require.

Hope this helps good luck

unclespacejam

Politicker

8

ur dad’s brother

Another reco here if you’re wanting to stay in SaaS is to look at companies that vertically focus on specific profession based markets. I’ve had good success with it. ie: selling to FI’s, financial advisors, lawyers, dentists, etc

Rosie

Catalyst

4

Sales Director

I love the advice here.

HVACexpert

Politicker

4

sales engineer

Energy, construction , commodities , etc. also all great.

Going to have to try and cast a wider net.

jefe

Arsonist

2

🍁

Real solid advice.
Sorry to hear you're caught in this cycle, @BitcoinAddict

BigShrimpin

Catalyst

1

Account executive

sales in defense always seemed like it would be super cool cant imagine how fat the commission on providing a few hundred mil of only the finest raytheon missile platforms

medhardwaredr

Opinionated

1

Director of Sales NA

The checks are great (Friend at general dynamics). It’s completely different however. Cold calling is virtually non existent. It’s managing materials, timelines and needs vs ability to deliver from thousands of specialized vendors. Search value stream lead and you’ll get an idea of what it’s like

BigShrimpin

Catalyst

0

Account executive

Do you know how they got into it? I've heard its basically impossible if you dont have an existing security clearance and I imagine its not the kind of job they advertise on linkedin

medhardwaredr

Opinionated

2

Director of Sales NA

Start with the company itself not LinkedIn or typical job boards. Go for channel or sales jobs on the drop downs or keywords. Once you’re in they all train and grow you quickly. My friend applied for a low mid tier position and once he got a recruiter on the line he explained what he was actually looking for

poweredbycaffeine

WR Lieutenant

10

☕️

Find services businesses that serve as implementation or integration players for larger platforms like SFDC, Workday, ServiceNow. They are always in demand so long as companies keep buying expensive and hard to work on platforms. And they all are.

gaurav

Valued Contributor

6

Director Digital Experience

I was going to come and comment this exact thing!! Finding enterprise sellers in services is hard to find, and 150k base, 250k OTE is fairly easy to crack once you know how to navigate here.
Look at orgs doing 300-400k deals, with ARR of $1m+. 5-6 deals a year set you in top 10% easily.

bja009

Politicker

1

Enterprise AE

I'm in this industry (services for The Big Blue Cloud) and the turn-and-burn is happening here too. Took longer to hit us, but the incest between SaaS and services firms has led to a mingling of the cultures, and anymore it seems like the average tenure for an AE at a services firm is less than 2 years.
The SaaS market without all that sweet, cheap VC money is way less fun.

HVACexpert

Politicker

2

sales engineer

My buddy works at Accenture and they do stuff like this. Pay is good there.

jefe

Arsonist

2

🍁

I know Accenture does a lot of work with Microsoft.

HVACexpert

Politicker

1

sales engineer

Salesforce too

SPT

Valued Contributor

3

Director, Channel Sales & Partner Alliances

Accenture just laid off a ton of people.

jefe

Arsonist

1

🍁

Great timing for all those folks

braintank

Politicker

10

Enterprise Account Executive

Avoid startups

Rosie

Catalyst

3

Sales Director

Like the plague.

SPT

Valued Contributor

2

Director, Channel Sales & Partner Alliances

I'm a glutton for punishment, LOL. They call me a Startup Junkie 😆

fidelcashflow

Catalyst

6

Account Executive

It's going to suck to hear this but the healthy companies that are crushing only hire the cream of the crop. Although you are falling short, it's falling short of the best. Companies like Ramp, Rippling, Notion, etc. Those companies have no $ issues but it is very hard to get an offer from companies like that.

Space_Ghost20

Valued Contributor

-1

Account Executive

This has been my experience. Even if you're willing to take a step or two backwards in your career, they'd strongly prefer new grads for their entry level positions as to not deal with the "baggage" experienced sales reps have from that prior experience.

fidelcashflow

Catalyst

2

Account Executive

It would be odd to apply for an SDR position after being an AE. But companies will always hire SDRs with some experience over new grads. As long as they are not trash.

SPT

Valued Contributor

1

Director, Channel Sales & Partner Alliances

Sad, but so, so true. Ageism is real.

HiredGun

6

Enterprise Sales Exec

Along with advice others have posted. Contact recruiters now will you are still employed. Many head hunters are not interested in candidates that have short job tenure. Others look primarily for employed candidates.
Look for companies that have real revenue and are profitable.
Try to avoid companies that have Private Equity investments.
Companies with PE investments often expect rapid growth. They churn sales teams, as management believes they have individuals that don't sell enough. Then they hire new sales management and sales teams. Repeating the cycle of sales below expectations. All without looking at current market demand and competition.

Sabrinathsaleswitch

Good Citizen

1

AE

I joined a PE company that was cashflow positive, non-B2B saas thinking it would be better...now I realize they do EXACTLY what you describe here

Sunbunny31

Politicker

3

Sr Sales Executive 🐰

I'm sorry to hear it.
It is very hard to get picked up by a larger org, but have you tried going back in again? They got you to the final round last time - try again.

3

Founding BDR

What I learned dealing with startups - ask a bucket load of questions. Even then, it’s still a coin toss how it’s going to workout. Depends how much risk you like to take on as the upside is there, but the downside is just as present.

Diablo

Politicker

2

Sr. AE

Sorry to hear that. Are you getting any feedback? I agree with brain, avoid early startups.

Kosta_Konfucius

Politicker

2

Sales Rep

Sorry to hear this, good luck in the search. What series are these companies? I would try to focus on more established companies and use repvue to target ones that meet your OTE expectations'
its a lot easier said than done, but good luck

wolfofmiami

Opinionated

2

🐺

If you keep going startup ask how profitable they are

pirate

Big Shot

2

🦜☠️ Account Executive

Can you look into reducing your expenses for now? It has been a tough few years with layoffs and I am sure it will change.

SaasSlingin

Politicker

2

Sr AE

Go all in reaching out to hiring managers and up for 3-5 stable companies hiring. Nothing to to lose. Go the extra mile: prepping messaging, sequences, territory plans etc for them and insist they check it out and give you a shot.

Haven’t read all the comments, would you consider going back to your first employer?

It’s hard out there. I wish you the best. The uncertainty can be killer in this game

Justatitle

Big Shot

2

Account Executive

This one hit home, it’s a rough cycle and ultimately why many people leave sales. Here’s the thing. You are not alone and many feel the exact same way. It’s very much a fake it til you make it type mindset. Keep grinding you will be mentally tougher for it

SPT

Valued Contributor

2

Director, Channel Sales & Partner Alliances

Ya, try this since 1994 for startups, like I have. I've literally been laid off 12 times.

wwwb2b

Personal Narrative

2

AI Advisor

There are lots of great suggestions in the comments, but I do feel the pain of this nasty cycle within the SaaS and tech sector in general

vet

Catalyst

2

Senior SDR

Multiple streams of income help this. When you have some money on the side (commissions also could help) then you can breathe easy.

At the end of the day, theres unemployment to support the process. These events build character and “grit” you’ll find the one!

BitcoinAddict

Opinionated

1

AE

Any idea of what to do? I keep hearing all this Solopreneur stuff but I was hoping some here could chime in.

1

Retired Sales Professional

I'm a little confused, you stated that you have recieved offers from companies you like but they weren't offering much in pay.
"If I do, it is abysmal like a 50K base and 100k OTE"
I'm taking this to mean that you have been given offers from company's you found to be stable but didn't find suitable because pay.

If I'm wrong please let me know.

In My opinion and this only my opinion take or leave it.
1. Maybe you should have taken the 50k and perhaps work you way up. Once you have your foot in the door then you know how the company works. Allowing you to setup a plan to get you to the point you would like to be at.

2. Review all your interview to see what went wrong in the interviews. You stated you made to the finals, yet there was something they didn't see in you which led to hire someone else.

3. Review the top companies, and I mean Review not just one page on their website. Look for testomies from past employee, learn their rhetoric, learn their culture, learn as much as you can learn about the company and use the words they use in your interviews.

4. Show your interviewers how you are going to achieve the results they are looking for, by coming up with your own scenarios. Show them how you will overcome the objections in order to make sure that you are successful at not only making your quotas, but how you will assist the company in making their revenue as well.

For ex final round: Good morning Mr. Cooper today I would like to show you my plan as to how I will achieve the quotas that this company will present to me. A quota of 85K YTD will first be broken down into 4 quarters. Which will break it down to $21,250 per quarter, given a three week turn around time, I will need to close 4 sales averaging $5,313 each quarter.

I will take the best services we have to provided and create a package that will not only give me the initial sales but will have a yearly subscription which I will make sure that I follow up with the company on a bi-quarterly bases to make sure that they are satisfied with our service and will subscribe the following year. If any hiccups I would be able to trouble shoot the problem before the end of the year arrives.
This is just a scenario, numbers may very! Truly i say, all best.

LB23Art

Member

0

Founder

Solid advice!

CalTechGuy

Good Citizen

1

Account Executive

Every PE backed or investor backed business is feeling their investors breathing down their neck demanding they reduce cost and maximize profitability. Especially with everything going on with rates and the economy.
All my colleagues at these bigger companies are feeling the grind (unattainable quota increases)and worry of looming layoffs.
My colleagues at smaller, private organizations seem comfortable and safe so long as the private company is running a healthy operation, with a good product, low debt and good cashflow runway.
I have another buddy at an early stage startup and it’s been hell lol.

dangb

Executive

1

VP of Sales

Just know that this is not unusual. It doesn't make it any easier, but it's not you.

emerge.life

Valued Contributor

1

Field Sales Development Executive

I would avoid any startups or "scale-ups" or whatever they're called nowadays. If you see buzzwords and emoji in the job advert, run

1

COO & Co-founder

My advice is to build a larger network of key leaders via LinkedIn. Increase your networking efforts by threefold once you are back on your feet. Focus on mid-sized and established companies with large teams; this will allow you to be mentored. Mentorship sounds like what you need at this point in your career, preferably from a more senior sales executive. Unfortunately, we are currently in an economic cycle where most companies will make cuts.

growthcatalyst

Executive

1

Senior AE

Start-ups can be volatile. If you are looking for tenure, move on to an established business.

Armageddon

Opinionated

1

Enterprise Account Executive

Good luck man, that sounds rough

LeadMachine

Opinionated

0

Sr. BDR

This next time, use a 3 headed coin when you flip! Look for companies with good growth, having a good end user logo billboard and good partner network as well both channel and techical.. ifcsign mda in interview process. Ask to see roadmap, and see how forward thinking, for future products, and product stages also relevant features. Pull a DnB on them!

LB23Art

Member

0

Founder

hallenging, but perseverance is key. Keep sharpening your skills and persist with your job search. If you’re looking for additional resources or someone to strategize with, I recommend checking out www.phyl.org. I’m open to discussing this further if you need guidance.

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