iamtheone

Enterprise SDR

How to find a Unicorn SaaS product

Since being laid-off from my mid-market AE position, I've been digging into some of the SaaS titans. Most notably, Chris Orlob, who grew gong from $0 to $200M ARR.

He talks a lot about building and creating a SaaS unicorn company...

3:1 pipeline coverage
80% of reps hitting 80% of their number
3:1 LTV to CAC ratio

Of course most importantly, having a must have product like Gong.

Curious, I really want to find a product that has potential unicorn status (Who doesn't right?)

What steps can I take to start narrowing down companies like this, or at least best way to do my due diligence on some of these metrics?

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19 comments

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GDO

Politicker

BDM

To be honest, I think too many people focus on finding the Unicorns. You can perfectly work at a not-unicorn and earn a lot and be happy.

Phillip_J_Fry

Opinionated

Director of Revenue

We've got 2 guys on our team in a consulting firm that are on track to W2 a milly this year. It's very unsexy, very un-unicorn, but it can payyyyy.

GDO

Politicker

BDM

Yeah I get that. I just don't think it's wise to really hunt for a unicorn.

iamtheone

Executive

Enterprise SDR

That's fair...I'm looking for high reward/high risk with equity.

HVACexpert

Politicker

sales engineer

I mean, by definition, aren’t unicorns sort of few and far between and the exception to the rule?

GDO

Politicker

BDM

They are getting more prevalent. That’s why now they are talking about decacorns 😅

londoniscoldandwet

Opinionated

SDR

If you want one more established, try a Gartner MQ in the field and look at notable mentions or “cool” vendors. You could also try looking for companies who secured funding this year, since it’s hard af to raise capital.

It depends what stage of the company you’re looking to get into it at, I suppose, but worth a shot?

butwhy

Politicker

Solutions Engineer

This is a good suggestion.

I would also advise checking out the last valuation and series raise, OP - a lot of unicorns haven't raised in two years because they literally cannot and half of them cannot exit via IPO - so valuations are about 3x what they should be and will be if you are chasing equity.

iamtheone

Executive

Enterprise SDR

Great tip I was checking a list earlier actually

londoniscoldandwet

Opinionated

SDR

To add another suggestion - once you have a list, check out the sales leaders, and reach out to them. Having a good leader who coaches and mentors you, who has a high EQ, is fucking invaluable. I was lucky enough to have one and it helps your career so much to have someone you can talk to.

You can find these people at potential unicorns - they make it so, but be aware you can also find lifers or true believers without a single people management skill in their arsenal, so be careful and trust your gut.

jefe

Arsonist

🍁

Is anyone else sick of the 'unicorn' talk?
So many seem to crash and burn. Revenue =/= profitability and longevity

Sunbunny31

Politicker

Sr Sales Executive 🐰

It's all the same cycle - dotcom boom & bust, correction in 2008-2010, and here we are coming down off the latest sugar high.
Recommend focusing on a solution that interests you with solid or rising PMF, and take it from there.

jefe

Arsonist

🍁

100%.
Same old story repeats itself

Kosta_Konfucius

Politicker

Sales Rep

LinkedIn has a list of top start ups

waterjugsales

Politicker

Account Executive @ Funemployed

Another good avenue that I didn’t realize initially is an established org offering a new product line or functionality that they can sell at an enterprise level.

Not sure how you can specifically search for that but if you see job descriptions with that - it could be pretty decent.

wolfofmiami

Opinionated

🐺

just sell cocaine

Justatitle

Big Shot

Account Executive

Chasing unicorns is a pipe dream, anyone who got into one early got really lucky, no bs

ChumpChange

Politicker

Channel Manager

IMO you would have to have a sound understanding of the market/vertical you're planning on working in. Typically, you'll have multiple years of experience and know who does what and most importantly... what they don't do. I don't believe there's an easy way of doing this without some form of due diligence coupled with direct exposure.

Beans

Big Shot

Enterprise Account Executive

What skillset do you bring to a company on that path? A short tenure as an MM AE that got cut?
I don't mean to be super harsh, but imagine the competition for those roles where OTE is traditionally much higher and inclusive of stock options. On TOP of that, orgs like that are very much in the building and refining of a sales process - and they'll require reps who can either manage or assist with that. Can you?

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iamtheone

How to find a Unicorn SaaS product

19 comments

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