20Sales: What I Learned Scaling Datadog from $60M to $1BN in ARR | How to do Outbound in 2024 | Why Discounting is Dangerous and Contract Sizes are Misleading with Dan Fougere

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The Twenty Minute VC

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

4.4 • 637 Ratings

🗓️ 22 November 2024

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dan Fougere is one of the most successful sales leaders of the last decade. Most recently, Dan was Chief Revenue Officer for Datadog, growing revenues from $60 million to $1BN ARR. Before Datadog, Dan was Head of Global Sales at Medallia where he created the Mediallia sales playbook. In addition, Dan is also a minority owner of the New York Yankees.

In Today’s Episode with Dan Fougere:

1. Lessons Scaling Sales to $1BN in ARR at Datadog:

What did Datadog not do that Dan wishes they had of done?
What did they not do that Dan wishes they had done?
What does Dan know about scaling sales to $1BN in ARR that he wishes he had known at the beginning?
What stage of the scaling process was hardest? Why?

2. How to Hire the Best Sales Team:

What are the top signals of the best sales candidates?
How does Dan structure the interview process for new candidates?
How does Dan use tasks and take-home assignments to test candidates?
What does Dan think of hiring panels?
What are the biggest hiring mistakes Dan has made? What did he learn?

3. Discounting, Logos and Deal Reviews:

Is discounting always wrong? How should sales leaders use it?
How important is the quality of logo in the early days vs revenue in the door?
What is the right way to structure deal reviews? What makes good vs great?
Is outbound dead in 2024? Advice to founders on outbound?

Transcript

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0:00.0	We'll have a legendary sales team making life-changing money, being best in class, and having
0:05.2	fun. You will learn more and become better at your job during your time working on my team
0:10.4	than you would have at any other team during that same amount of time. And you will never have to
0:15.3	look for a job again because the halo of our success will be over your head for the rest of your
0:19.7	career and people will seek you out.
0:21.6	That was my first day. I said that to everybody on the team. I mean, what a stirring speech.
0:27.1	That is the speech that Datadog's chief revenue officer, Dan Fugier, gave to the sales team on
0:32.7	his first day. That same sales team scaled revenues with Datadog from 60 million to a billion in
0:39.3	AARR. Dan was at the forefront for that incredible journey. This is one of the best 20 sales episodes
0:45.3	we've done, really diving deep into granular lessons in scaling Datadog to a billion in AARR. If that
0:51.8	wasn't enough, Dan is also a minority owner of the New York Yankees.
0:55.3	This was so much fun to do. But before we dive into the show today, my sales enablement platform
1:00.5	is a waste of money. Ever thought that? Well, you're not alone. Most revenue leaders feel this way
1:06.0	watching their sales team struggle to keep up with market, product and competitive changes. Reps burn hours each day,
1:12.5	searching, digging, slacking, desperately trying to get the answers they need out of their clunky tech
1:17.5	stack. Well, that's why Speckett's AI-powered enablement platform was purpose-built to cut through
1:22.7	the noise and meet reps in their moment of need. Speckett uses AI to recommend the exact content your reps need to close deals in any tool,
1:31.1	like Gong, Salesforce or Outlook. It's that easy.
1:34.6	If you're ready to give your reps a personalized enablement assistant at their fingertips,
1:39.0	take five minutes and discover why leading investors, like Kraft and Felisus,
1:43.5	are backing Speckett as the platform
1:45.2	revolutionizing sales enablement. See for yourself at speckit.com forward slash 20VC.
	...

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