We just had 6 reps leave this past month. Is it time to jump ship?

As the title says, I've just been hearing about reps leaving our org and frankly, as a newly promoted AE who's kind of struggling within an industry that had it's golden year last year(Virtual events), I don't know if I should stick around?


I'm in a full sales cycle role from outbound prospecting, discovery calls, demoing, and sending RFPs, but this past quarter has been brutal af. We've got VC money, but that only goes so far and I don't know if I want to stick around only to be let go(would that be a better alternative with my stocks, severance).


Essentially, I'm doing all I can, but when do I know it's time to leave? Commission hasn't been very great lately and frankly, I'm just shocked at how rapidly my role and the market changed in the past quarter. About 6 months ago, it was all gravy, and out bounding wasn't an issue at all. Now it's just a grind with little to no return.


I've been a top performer since I've been at my company, but I can't change the return to in-person and the need to step away from zoom. Any advice on the best course of action? Is this just a summer slump or something I need to be more proactive about?


Gracias

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21
Pachacuti
Politicker
19
They call me Daddy, Sales Daddy
You sell virtual events? Yah, it’s time to jump ship. No one is going to attend a virtual event.
SaaSam
Politicker
6
Account Executive
Nail on the head man. You might as well be trying to sell masks on an airplane right now.
Gyro25
Notorious Answer
1
Account Manager
Virtual, Hybrid, and In-person. It's a full solution. However, finding p/m fit currently has been quite difficult. Wouldn't say it's only virtual, but conveying that to buyers has been an industry-wide struggle.
Pachacuti
Politicker
1
They call me Daddy, Sales Daddy
There’s probably good reason why all the other rats are jumping ship. I’d at least sharpen the resume and get it out there.
Gyro25
Notorious Answer
3
Account Manager
Absolutely! I interviewed at another company with the VP sales the other day and it went well and they wanted to make me an offer, my only thought was this is an industry-wide issue, not a company-wide issue, so I don't see how remaining in the said industry makes sense despite my experience.

I'd want to move into an in demand vertical obviously, which is what I'll have to spend my time researching now. 
TheDragon
Good Citizen
2
CVO
Talk with that company about their future plans and it’s difficult for me to say without smirking a bit…. Ask if they have plans to host/set up/sell events in the metaverse. If anything you might be able to get them poised to be one of the leaders in the space. I’m not extremely well versed on the subject, but looking around the corner that space is going to be massive.
Kosta_Konfucius
Politicker
0
Sales Rep
Can def see that being difficult
Justatitle
Politicker
4
Mid Market AE
My guess is that you are at Hopin or Cvent. Both of those have scary outlooks for their future. Times like these DMs would be really awesome 
Gyro25
Notorious Answer
1
Account Manager
I can neither confirm nor deny, but yeah, DMs would be great since I've started actively looking for other roles, but I'm a newly minted AE and Idk if I can find a role for an AE with little closing experience.
SADNESSLieutenant
Politicker
3
Officer of ♥️
I know this may come a shocker to most, but every year covid restrictions loosen for summer spring just long enough for a whole new ass more dangerous variant to spread and then we are back to an even tighter lockdown later. So. I guess you can expect business to be slow for the time being, whether or not thats something you want to deal with until 2030 (anticipated end date of covid) is up to you
Gyro25
Notorious Answer
2
Account Manager
That's fair, which is why I figured it could be a "slump", but it's pretty jarring to have 6 reps leave, 2 of which are on your team, it makes you think. 

It wouldn't surprise me if there was some new delta theta ominomlette variant that happens to be discovered around fall and demand picks up, it's just a matter of do I want to be badgered about my pipeline when there's industry-wide low demand and I can jump ship and get a 15-20% raise? Summer tends to be slow regardless, so in the meantime, I'm polishing my resume, putting status as 'open to work', and sending connection requests to c-suites of companies I'd potentially be interested in.
SADNESSLieutenant
Politicker
2
Officer of ♥️
Exactly. Sounds like the right move. be in an industry that has 100% demand and get a raise while doing so. Just remember to interview them as much as they interview you. make sure you dont jump to a burning ship you cant get off
jefe
Arsonist
1
Head of Sales
@SADNESSLieutenant is unfortunately about the cyclical nature of this shit and what's likely to happen, but I'd still look elsewhere for all the reasons you've mentioned. 
I_LOVE_WINE
Executive
2
Enterprise AE
Candidly, I would start looking.  Since you created this post, it seems like your gut is telling you something and I have learned over time that you should listen to your gut feeling. 
E_Money
Big Shot
1
💰
Yup time to bail. 
Justatitle
Politicker
1
Mid Market AE
I sold in person and virtual event software in my last role. 10 months prior to leaving we raised a 138 million round and I was seeing a decline in the market after 2 great years and peaced out. It’s a tough tough market with 3 dominant players. 
Gyro25
Notorious Answer
1
Account Manager
Damn, It's likely we've crossed paths before if you were at any of the conferences over the past year or so. There are two reasons I'm staying at my current role: Health insurance and getting closing experience since I'm a pretty new AE. Idk if changing roles will mean I have to start over as a BDR, which I really don't want to do. I'd like to move away from events as well given I'm seeing the same decline you saw before. Any suggestions on companies or what would a good transition? Wish we had DMs open..
Justatitle
Politicker
2
Mid Market AE
Literally any company, talk to @sahil as I’m sure he’s got some connects through bravado jobs 
Gyro25
Notorious Answer
0
Account Manager
Will do. Just worried about my lack of closing experience. I pretty much crushed it as a BDR, but it's been rough my first quarter as an AE due to event decline, constant churn, and lack of opps.
Justatitle
Politicker
1
Mid Market AE
Junior AE roles are out there and some companies like less experience, shows you don’t have an ego and won’t be taught bad behavior that you will have brought with you to them 
Justatitle
Politicker
0
Mid Market AE
@Gyro25 if you’d like give me a few clues as to who you are and I’ll connect with you on LI. I just spoke with a recruiter yesterday and he’s hiring like crazy for a company I would join if I wasn’t going to make stupid money where I am. If you would rather not it’s also all good but I’m always happy to help where I can
Gyro25
Notorious Answer
0
Account Manager
Yeah, that'd be great. What works best, #, LinkedIn, email?
Justatitle
Politicker
0
Mid Market AE
Being that I’d fear giving my cell out on here what’s you LI and then you can delete the comment 
Justatitle
Politicker
0
Mid Market AE
Sent you a connect. Go ahead and delete
Jackywaky
Arsonist
1
Sr. Customer Success Manager
Typically we've seen that some businesses transform the SDRs and BDRs into mercenaries. And what I mean to convey is that not only they would take the best deal but also they learn when is a good moment to leave the ranks and join another band.

I saw in another post earlier today that:  It’s never too soon to leave if you’re in a bad situation - and I couldn't agree more.

Being the top performer it's great for your profile, however, if you're in a sinking ship having a percent of something is better than 100% of nothing - IMO
Gyro25
Notorious Answer
1
Account Manager
We've had reps leave for better money, other opps etc, but my main concern is the opportunity cost. If I can get a junior AE role that'll help me start closing deals without the expectations of a seasoned closer, I'm totally down. 

However, my current company is letting me close, but things right now are atrocious with the market. I'm doing renewals and it's cancellations of annual subscriptions after cancellation of annual subscriptions. I'm currently scraping the bottom of the barrel when it comes to leads and barely made any commission on top of my base last month. 

I totally agree with the mercenary sentiment and the reason I'm even still here is closing experience is super valuable and I need it, so I'm hoping I'll stick around for a few months, close some real $ and jump ship when I've got some tenure under my belt.
Jackywaky
Arsonist
1
Sr. Customer Success Manager
That sounds like a good action plan. Hope you can build the desired skillset very soon - wishing you nothing but success.
shoesalesman
Opinionated
2
Account Executive
I am right there with you, Gyro.

I have been moved up twice since starting as an SDR a year ago. The problem being that the constant switch has made it difficult to develop metrics that another organization would find "sexy."

On top of that, it is a startup that (like yours) may not make it if I decide to stay to get more experience.

Not sure if I should take a step down at a larger company, or try sticking it our here for the "experience" although that experience may not provide better metrics for a future prospective employer if it is indeed a sinking ship.



Lioness
Good Citizen
2
Sr Field Enterprise Account Executive
If (and only if) you feel confident that you will definitely have some deals closed within the next several months, hang around and prove yourself.

Just know that you don't want to stay too long as there would be more of an expectation that you should have closed deals under your belt (even though the market is doing a reversal); From an outsider's perspective, it will be unclear if the lack of sales is really due to the market or due to your skillset. 
Hoopnip
Opinionated
1
Commercial AE
Sounds like a great gig when COVID comes back or whatever Cron it’s attached to. How many virtual events did you join in the last year and that you actually enjoyed? Probably just the Zoom happy hours with your friends blacked out at 1am. Every company cannot wait until in person events are in full swing. Virtual events was a immediate need but not a long term solution ….
MrAnderson
Executive
1
Sr. SDR
You don't want to be the person always looking for the shiny object, unable to go past tough times... you also don't want to be the one that sticks too long on opportunities going nowhere.

This is why principles to navigate the world are important. For switching jobs, I adhere to these 3 strikes rule. (In no particular order).

1. Has the company disrespected me?
2. Have I maxed out my earning potential (maxed out comp plan or no opportunity to get promoted)?
3. Have I learned everything there is to learn here?


1 Strike means I'll start passively looking, dropping my resume here and there. Updating, checking opportunities every now and then

2 Strikes means I actively look, hit the network up. Hit recruiters, outbound to some companies

3 Strikes means quit 

Got these from a very cool sales leader that prefers to be unnamed, but you can either use them or create your own rules.

Truthteller
Personal Narrative
1
Principal/Owner/Consultant/Podcaster
Unless you have a USP that is undeniably a differentiator in the market, why would anyone want your service?  You already know the answer, that's why you posted the question...you can do it!!!
Blackwargreymon
Politicker
1
MDR
My guess is that you are at Hopin or Cvent. Both of those have scary outlooks for their future. Times like these DMs would be really awesome 
JohnnyDamone
Opinionated
0
AE Inside Sales
Sounds like it’s time to step away for a new job amigo. I was in the events space, my company did virtual and hybrid events. Easy fucking job I was an order taker. Time to move on though
Riffiki
Personal Narrative
0
Founder
At least do some interviews and see what happens
Gyro25
Notorious Answer
0
Account Manager
Yeah, actively interviewing at a few other companies and they've gone well, but I didn't particularly like the product, rather stay out of fintech and stick to marketing automation, analytics, and event SaaS.
kps
0
AVP Sales
Yup jump jump
MR.StretchISR
Politicker
-1
ISR
Well? You going to speak with the recruiter?