The best people on your product team have left to go to a competitor. What do you do?
millennial_entrepreneur
Software Peeps
What do you do?
Attached poll
*Voting in this poll no longer yields commission.
4
I would try to find out why the product team left. If there is a really compelling reason the competitor could be on a trajectory to crush your current company or they could've just received more money.
From my understanding it was all money motivated.
If it was all money motivated and you are still closing deals stay where you are
Sometimes it’s as simple as the product leader built such a relationship with the team that they’d follow her/him anyway.
Other times, it’s as simple as the competition getting ready to light you up. If this is the case, you gotta think hard about whether staying is worth it.
However...if this means sales turnover is higher...that could position you to get a better patch/negotiate higher pay/inherit key accounts with upcoming expand business. If this is remotely the case, consider sticking it out for at least a quarter.
Lastly, never be further than one phone call to a sales leader from getting a new job at a good company.
Other times, it’s as simple as the competition getting ready to light you up. If this is the case, you gotta think hard about whether staying is worth it.
However...if this means sales turnover is higher...that could position you to get a better patch/negotiate higher pay/inherit key accounts with upcoming expand business. If this is remotely the case, consider sticking it out for at least a quarter.
Lastly, never be further than one phone call to a sales leader from getting a new job at a good company.
That's great advice. Thank you.
I'd say it depends. Do you believe in the product you sell? Or do you actually believe the competition is better?
For me personally, I need to sell a product I believe in. If you believe you're better than the competition, who cares about the product team! Help rebuild and you'll be better for it. If you don't genuinely believe your product can help your target market- jump ship.
If you can find out why they left, that might also help you know which direction you'd like to go. Was it a higher salary? Was it the direction of the product / company?
Hope that helps!
For me personally, I need to sell a product I believe in. If you believe you're better than the competition, who cares about the product team! Help rebuild and you'll be better for it. If you don't genuinely believe your product can help your target market- jump ship.
If you can find out why they left, that might also help you know which direction you'd like to go. Was it a higher salary? Was it the direction of the product / company?
Hope that helps!
It depends if you like the company/product/people. It's your life and career, so who cares if the product team left the company
Very true
Generally a huge warning sign.... Are you the number 1 product in the industry? If not, it's hard to sell something you know isn't the best and probably won't be anytime soon, I personally would be looking around., but be picky.
Yeah that's what I'm concerned about. Right now we're one of if not the best products in our industry but in software that can change on a dime if the company is no longer innovating.
100%- just happened to a competitor of ours, which is good for us, but we'll see what actually happens in the next couple of months.
It is always good to find out why they left and then target that. If it is a main competitor that you find is common then find a new angel to target your product. Once you discover the need of why they left then I would go after it and rebuild.
Some of my best cold calls started off on a really weird foot... like my headset got unplugged or my dog was barking. I try to replicate that, but it rarely feels genuine.
13 comments