20Sales: How Snowflake Built a Sales Machine | Why You Have to Hire a CRO Pre-Product | Why Most Sales Reps Do Not Perform | Why Hiring Panels are BS in Interviews | Why Remote Sales Reps Do Not Care About Their Development with Chad Peets

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Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 23 August 2024

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chad Peets is one of the greatest sales leaders and recruiters of the last 25 years. From 2018 to 2023, Chad was a Managing Director at Sutter Hill Ventures. Chad has worked with the world's best CEOs and CROs to build world-class go-to-market organizations. Chad is currently a member of the Board of Directors for Lacework and Luminary Cloud and on the boards of Clumio and Sigma Computing. He previously served as a board member for Astronomer, Transposit, and others. He was an early-stage investor at Snowflake, Sigma, Observe, Lacework, and Clumio.

In Today's Discussion with Chad Peet's We Discuss:

1. You Need a CRO Pre-Product:

Why does Chad believe that SaaS companies need a CRO pre-product?
Should the founder not be the right person to create the sales playbook?
What should the founder look for in their first CRO hire?
Does any great CRO really want to go back to an early startup and do it again?

2. What Everyone Gets Wrong in Building Sales Teams:

Why are most sales reps not performing?
How long does it take for sales teams to ramp? How does this change with PLG and enterprise?
What are the benchmarks of good vs great for average sales reps?
How do founders and VCs most often hurt their sales teams and performance?

3. How to Build a Hiring Machine:

What are the single biggest mistakes people make when hiring sales reps and teams?
Are sales people money motivated? How to create comp plans that incentivise and align?
Why does Chad believe that any sales rep that does not want to be in the office, is not putting their career and development first?
Why is it harder than ever to recruit great sales leaders today?

4. Lessons from Scaling Sales at Snowflake:

What are the single biggest lessons of what worked from scaling Snowflake's sales team?
What did not work? What would he do differently with the team again?
What did Snowflake teach Chad about success and culture and how they interplay together?

Transcript

Click on a timestamp to play from that location

0:00.0	We bring in a CRO pre-product. You need a salesperson to create the sales playbook. What does a VP of
0:05.4	engineering know about creating a sales playbook? Any inside salesperson should recognize that by being
0:10.1	in the office, they are going to get better, faster. If a sales inside salesperson is not willing to make
0:15.9	the sacrifice of a 30-minute commute every day to further his own career. I don't want that person. You have to
0:23.1	care and be willing to sacrifice to do exceptional things to be exceptional. And what I find today is
0:28.1	people are not willing to do that. This is 20 sales with me, Harry Stebbings, the show where we sit down
0:32.6	with the best sales leaders in the world and unveil their tips and tactics. Today, this is the best 20 sales I have ever done.
0:40.0	The guest is an absolute OG and one of the greatest sales leaders and recruiters of the last 25 years.
0:46.2	Chad Piz, Chad is the man who was instrumental in the hiring process of Snowflake Sales Team for the first five years alongside Chris Degnan. He was then a managing
0:55.6	director at Sutter Hill, one of the great firms of the last two decades. This is one of the best,
1:01.1	as I said. It's time to get the notebooks out. There's a lot in this one. But before we dive in,
1:06.1	we need to talk about our sponsor for the day, Clary. Clary is an industry-leading AI-powered revenue platform
1:12.4	that is purpose-built to help companies optimize their end-to-end revenue process. With over
1:17.4	$4 trillion in revenue under management, Clary's customers have a material advantage to optimize
1:22.8	their enterprise revenue process across all teams, from rep to the boardroom, by leveraging the
1:28.3	world's largest and fastest growing AI reservoir of enterprise revenue expertise.
1:33.3	More than 1,500 organizations, including Octa, Adobe, Workday, Zoom and Finastra, run revenue
1:39.3	on Clary to improve win rates, prevent slip deals, forecasts with accuracy, and boost the productivity
1:45.4	of all revenue-critical employees. To learn more about how you can create, convert and close
1:50.8	revenue with Clary, visit Clary.com. You have now arrived at your destination. Chad, I don't
1:56.8	think I've ever been quite so excited about doing a show following a discussion pre-us-starting recording.
2:03.2	So this is going to be a lot of fun.
	...

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