BitcoinAddict

AE

Valued Contributor

Sahil's take on the future of SaaS and what can we do?

At this point, I cannot doubt Sahil. Last year, when this man said how bad things were going to get in SaaS, everyone mocked him for it but he was right. Now, it seems like the bubble for SaaS salespeople is kind of busting. It makes sense because I feel like SaaS sales was a god send for those of us who messed up in college, didn't get into IB or the high-paying roles fresh out of it, but wanted a path to six figures.

In late 2022, I went from 2 grinding years as an SDR to becoming an AE.

Unfortunately, my work environment got so toxic that it was starting to seriously impact my mental health so I quit without another job lined up.

Late last year (December), I got a job for a startup that sells a need-to-have product (as in companies legitimately need to get it under control or they get into a lot of trouble). A month in, my VP gets let go.

I feel like just being an AE is not enough anymore, but I lack the brand, brain, or whatever is needed to do entrepreneurship right now. I legitimately love sales but feel like it is a bubble willing to burst soon. I love net new logo sales over upsells and cross-sells but it does feel like things are gonna get bad out there.

TBH, I cannot see myself working any other job and hate having to go back to school for a masters or something.

What can we do to prepare?

☁️ Software Tech

21

19 comments

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braintank

Politicker

9

Enterprise Account Executive

You can always doubt Sahil ;)
As other said, it's cyclical, and we happen to be in a trough now.
Things will be rough for a bit as companies tighten their belt, but they won't stay down forever.
For now just have to keep your head down, focus on controllables, and make sure your pitch and process are airtight.
I'd advise against going to get a masters. They don't help in sales and will just give you debt.

CuriousFox

WR Officer

7

🦊

The words "keep your head down" are key. Do your job well and stay out of drama. Helps with the mentals too. ❤🦊

BitcoinAddict

Opinionated

2

AE

Let's get it, this is good stuff.

Sunbunny31

Politicker

2

Sr Sales Executive 🐰

Absolutely true. We’ve been through this before. Bust follows boom. The market corrects. Over saturated sales teams get leaned out. People move on to other roles.

If you enjoy being an AE, keep doing it. VPs and managers come and go, but if you’re in a decent spot, do your job and keep doing it until someone tells you to stop. :)

ARW

5

VP of Sales

Hey @BitcoinAddict - firstly, I think you are right, times are going to be tough for a few months, maybe a few quarters. But like everything in life, it’s a cycle and things will bounce back soon enough, so don’t be too alarmed and definitely don’t give up on a career in SaaS, it’s the best. Secondly, so what can you do to be prepared? As they say, you can only control your “controllable’s”. You can be extra diligent, make more calls, do more customer meetings, build more pipeline, build better business cases, close more deals (you can’t always control that pet). You can stay fit and healthy, stay positive and you can find ways to add value to your customers and employer. And you can also put a little money aside each month, you can build up a nest egg so that IF you do find yourself out of work then you can survive happily enough until you find the next exciting SaaS opportunity. Best of luck. Let us know how you go.

BitcoinAddict

Opinionated

2

AE

Thank you friend! This was practical but amazing advice!!!!

Maximas

Tycoon

-6

Senior Sales Executive

I second this!

LightingLeader

Politicker

4

Specification Sales

I still haven’t apologized to @sahil I think I said I’d eat my shoe or something.

Justatitle

Big Shot

4

Account Executive

This isn't the first time the sky has fallen in my career and it won't be the last. salespeople will always be needed.

BitcoinAddict

Opinionated

1

AE

I love that take!

PhlipOut

Politicker

4

Account Executive

dude, chin up.
you're looking at this thorugh a very limited timeframe of just over 2 years.
be thankful you made it to AE and upwards form here.
change is constant. managers change, product roadmaps change, go to market, territory, the economy etc change all the time.
get used to it and grind it out and find your balance

BitcoinAddict

Opinionated

0

AE

That is the fairest take

TennisandSales

Politicker

3

Head Of Sales

I think about this a lot about how sahil told us there would be this massive Kay offs and we all thought he was crazy.

sahil

Notable Contributor

3

Deepak Chopra of Sales

If I were in your shoes, here's 3 things I'd do (in order):

1. Be proud of what you've achieved, and remember how you got here. Being scrappy, busting your ass, and riding the wave in front of you. That formula will lead you to success for the rest of your life.

2. While sales jobs may be tough to find atm, they are the first to come back when economy picks up. Gotta find a way to make it through next 6-24 months (wide variance I know, but economy is so confusing atm) and it's not like tech is going anywhere. In fact might be worth getting more technically proficient in things like chatgpt and AI, so you can have the skills that will be in demand sooner.

3. SaaS in meh right now. So what? Many other industries booming. Beauty. Oil and gas. Hospitality. Use your skill in another sector for a min. Get those bills paid and keep eyes open for an opportunity to jump back asap.

sahil

Notable Contributor

2

Deepak Chopra of Sales

Either way @BitcoinAddict - rooting for you

BitcoinAddict

Opinionated

1

AE

I got mentioned by Sahil, my weekend is made, especially since I got let go yesterday :'(
I know you are not a UFC fan brother but great fight on tonight. Really appreciated meeting you in NYC many years ago, I believe it was around 2019 or so at a WeWork when you threw an event.

MiceTrap

Opinionated

0

Sales Development Representative

I’m new to sales so I can’t comment on that but whenever there is a downturn in the economy everyone says “ it’s over”. I think just staying level headed & rational we’ll help here.

countingmyinterest

Politicker

0

Account Executive

I think sales is here to stay, it's just gonna be rough for the next few years.
I'm selling a "nice to have" and I'm living on base. Shit sucks and it's not why I entered sales.

Baylor24

Executive

0

Senior Account Executive

Getting additional streams of revenue started early is extremely important imo. That can vary widely from starting a business that you are active in to a more passive strategy. Combine this with maxing out your 401k or Roth if you can to prepare for the future. It ain’t sexy and will take a long time to mature but similar to real estate, time will be your friend and will create more wealth.

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