20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 7 June 2023
⏱️ 51 minutes
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Summary
Rich Liu is the CRO @ Everlaw and a unicorn GTM exec having scaled five multi-billion dollar tech unicorns across two IPOs, a successful acquisition, and numerous funding rounds. Prior to Everlaw, Rich architected the GTM motions for companies like Navan (TripActions), MuleSoft, and Meta (Facebook). As a result of his incredible success, Rich has been recognized as a 2021 Top 100 Global Sales Leader.
In Today's Episode with Rich Liu We Discuss:
1. Entry into the World of Sales:
- How Rich made his way from biochemistry into the world of sales?
- What is 1 takeaway from his time at Navan, Meta and Mulesoft that has shaped how he thinks about sales today?
- What does Rich know now that he wishes he had known when he entered the world of sales?
2. Sales Today: What is Happening?
- What are the biggest sales leaders saying today about price sensitivity and deal cycles?
- What has changed in the way companies buy software with the macro downturn?
- What do companies need to do to get deals over the line today?
- How do startups need to change the way they message to enterprises in order to sell today?
- How has the renewals process changed? What does this mean for customer success teams today?
3. PLG vs Enterprise: When and How?
- Is it possible to do both PLG and enterprise at the same time?
- Is it easier to start with enterprise and move to PLG or visa versa?
- How does the type of sales leader you need change dependent on the motion?
- When is the right time to move from founder-led sales to sales team?
- How does one know whether to hire a junior jack of all trades or a senior sales leader?
4. How To Hire The Best in Sales:
- How does Rich structure the hiring process for all new reps today?
- Does he use case studies to determine their depth and ability? Is the case study of the company they are interviewing at or a fresh company?
- What questions does Rich ask every candidate for a new role?
- What are some of the biggest red and green flags in how candidates talk in interviews?
Transcript
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| 0:00.0 | That early adopter, that product-led sale, does not work in a tight market. |
| 0:04.8 | I'm not spending any money. |
| 0:05.8 | Default is no. |
| 0:06.6 | The only time that I'm going to spend something is if someone convinces me, this thing is not |
| 0:11.1 | what you think it is. |
| 0:11.9 | It actually is going to solve the most important thing that you're afraid of right now. |
| 0:15.8 | This is 20 sales with me, Harry Stebbings, and 20 Sales is the monthly show where we sit down with the best sales leaders in the world to discuss how they build and scale world-class sales |
| 0:25.0 | teams. |
| 0:25.6 | Today, I'm joined by Rich Liu, Sierra at Everlaught and a unicorn go-to-market exec, having |
| 0:30.6 | scaled five multi-billion dollar unicorns across two IPOs, a successful acquisition and numerous |
| 0:36.9 | funding rounds. From Met meta to Navan and |
| 0:39.4 | MuleSoft, this man has seen it all and today is an absolute masterclass. But before we move into |
| 0:44.5 | the show today, you might remember in our amazing episode with Maggie Hot, she mentioned a tool she |
| 0:49.0 | could not live without called Pocus. What is Pocus? Well, Pocus is a revenue data platform that makes it easy for |
| 0:55.3 | go-to-market teams to analyze, visualize and action data about their prospects and customers |
| 1:01.0 | without needing engineers. Pocus helps companies like Mero, Webflow, Lume, and Superhuman focus their |
| 1:07.2 | sales and success teams on the highest priority opportunities by surfacing insights |
| 1:11.9 | at the right moment so reps can take action quickly. Pocas gives you a 360 degree view into product |
| 1:18.1 | usage, empowering you to act on insights and fill your funnel efficiently. Sales teams save 10 plus |
| 1:24.2 | hours per week, digging through data to surface millions of new revenue opportunities, |
| 1:29.1 | learn more about why top PLG businesses trust Pocus as their revenue data platform by visiting |
| 1:34.9 | Pocas.com forward slash demo, and salesloft is the leading sales engagement platform, |
... |
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