The startup I work for is going under - should I jump 🚢?

Question

Well, after working in a retail setting selling cell phones for 5 years (not a lot of opportunity in Vermont), I nabbed an Account Manager position at a startup.

I was making over $100K yearly in my previous position, and the offer at the startup was $115K OTE, with a book of running business supplied by the company (just a handful of small accounts). I was able to achieve the yearly quota set for me in about 8 months. Life is good, right? Wrong.

Throughout those 8 months, the other 2 Account Managers left the company due to changes in management. Then, the VP of sales (my only mentor/touchpoint at the company) also resigned.

The big ticket contacts who had rapport with the previous sales team of 10+ years obviously noticed the mass exodus and ghosted.

I'm now one of only 3 account managers left, and slowly bleeding revenue.

Do I jump ship? Should I stick it out?

Accepted Answer

I'm in a very similar predicament to you. Down to the title as well. I'm sticking it out till they fire me while applying for jobs.

Answer

Go to leadership with a list of questions revolving around the financial health of the company.

Answer

@Pachacuti the key accounts were allocated to a “house” account, which I assume is because the previous AMs are still getting paid on the closed business.

Answer

damn classic case of start up going down hill!

Answer

start applying and find something. it is easier to find a job when you have a job.

Answer

Phew, maybe! Why did the other AMs and the VP leave? Do you close net new/is there a team of AEs? At this point, you need to have an open conversation with your founder about your role and expectations if you’re bleeding revenue just bc some team
members left.

Answer

Can you inherit those key accounts?  That would be reason to stick around.

Answer

If you have to come here to ask this question I would say the answer is pretty clearly a yes. You are also well within your right to go and speak with leadership to express your concerns. You aren't saying anything to them they don't already know or are thinking.

Answer

So, the reason I’m not seeing renewals is because the previous VP and the 2 other AMs were managing the accounts for years that I was given. In the beginning, they were there for support and to help me during my ramp up period. In the course of 2-3 months, those clients received 3 different “I’m moving on emails.”

Answer

this is also an opportunity if they survive. :)

Answer

You can always start applying while you remain, and see if you find something better.

Answer

Thanks, everyone! I’m new to the Bravado community, and all the advice has re-assured me that I’m doing the right thing.

Answer

You need to start interviewing. Might now need to leave right away, but good to get it started for some peace of mind.

bebop

The startup I work for is going under - should I jump 🚢?

17 comments

bebop

The startup I work for is going under - should I jump 🚢?

17 comments

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