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Chad Peets

👤 Person
588 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

Lead. You have two functions that must collaborate. Get them to collaborate. Get them to understand the need for each other. Sales needs product. Product needs sales. They cannot work independently. And there is a revenue hit. And that's why you want to explain the sales organization needs to explain to the product organization.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

Lead. You have two functions that must collaborate. Get them to collaborate. Get them to understand the need for each other. Sales needs product. Product needs sales. They cannot work independently. And there is a revenue hit. And that's why you want to explain the sales organization needs to explain to the product organization.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

Lead. You have two functions that must collaborate. Get them to collaborate. Get them to understand the need for each other. Sales needs product. Product needs sales. They cannot work independently. And there is a revenue hit. And that's why you want to explain the sales organization needs to explain to the product organization.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

If you don't deliver the things that I need, I have a forecast out there that's based on you delivering that product. If you don't deliver that product, I will miss my forecast. So there is a revenue component tied directly into the product organization. And the product organization needs to understand that.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

If you don't deliver the things that I need, I have a forecast out there that's based on you delivering that product. If you don't deliver that product, I will miss my forecast. So there is a revenue component tied directly into the product organization. And the product organization needs to understand that.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

If you don't deliver the things that I need, I have a forecast out there that's based on you delivering that product. If you don't deliver that product, I will miss my forecast. So there is a revenue component tied directly into the product organization. And the product organization needs to understand that.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

They are, in fact, while not as directly responsible as sales, they're still responsible for revenue. And so as a CEO, you have to understand that and you have to get them to work collaboratively together.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

They are, in fact, while not as directly responsible as sales, they're still responsible for revenue. And so as a CEO, you have to understand that and you have to get them to work collaboratively together.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

They are, in fact, while not as directly responsible as sales, they're still responsible for revenue. And so as a CEO, you have to understand that and you have to get them to work collaboratively together.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

What behavior do you want? What behavior do you, salespeople are great because they're predictable. I can get you to do whatever I want you to do by setting up the comp plan accordingly.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

What behavior do you want? What behavior do you, salespeople are great because they're predictable. I can get you to do whatever I want you to do by setting up the comp plan accordingly.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

What behavior do you want? What behavior do you, salespeople are great because they're predictable. I can get you to do whatever I want you to do by setting up the comp plan accordingly.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

Yeah, it can be. You got to look at the business. Let's say you look at a business and say, okay, Our land motion is really good. I'm making these numbers up. The average land sales cycle is four months. We're landing at 75K. That's a good land motion. I'm happy with that. Now, my expand motion is taking 12 months. and I'm expanding from 75, and I'm getting an expansion of 50. That's not good.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

Yeah, it can be. You got to look at the business. Let's say you look at a business and say, okay, Our land motion is really good. I'm making these numbers up. The average land sales cycle is four months. We're landing at 75K. That's a good land motion. I'm happy with that. Now, my expand motion is taking 12 months. and I'm expanding from 75, and I'm getting an expansion of 50. That's not good.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

Yeah, it can be. You got to look at the business. Let's say you look at a business and say, okay, Our land motion is really good. I'm making these numbers up. The average land sales cycle is four months. We're landing at 75K. That's a good land motion. I'm happy with that. Now, my expand motion is taking 12 months. and I'm expanding from 75, and I'm getting an expansion of 50. That's not good.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

The sales cycle for the expand is too long, and the dollar assigned to the expand is not high enough. I can start to pull different levers in the comp plan. So I can say, hey, Mr. Sales Rep, I'm going to pay you 10% on the land. I'm going to pay you 12% on the expand. And just by doing that, I'm going to get a lot more focus on the expand because I pulled that lever.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

The sales cycle for the expand is too long, and the dollar assigned to the expand is not high enough. I can start to pull different levers in the comp plan. So I can say, hey, Mr. Sales Rep, I'm going to pay you 10% on the land. I'm going to pay you 12% on the expand. And just by doing that, I'm going to get a lot more focus on the expand because I pulled that lever.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

The sales cycle for the expand is too long, and the dollar assigned to the expand is not high enough. I can start to pull different levers in the comp plan. So I can say, hey, Mr. Sales Rep, I'm going to pay you 10% on the land. I'm going to pay you 12% on the expand. And just by doing that, I'm going to get a lot more focus on the expand because I pulled that lever.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

Yeah, that's a problem. So first of all, you have to decide, am I an inside sales organization or an outside sales organization or both? Hopefully both, right? You really want to get both because if you have both, then you can get the velocity business and you can get the enterprise business and you want both. So if you look at a 10K ACV, well, that's definitely not a field sales rep.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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

Yeah, that's a problem. So first of all, you have to decide, am I an inside sales organization or an outside sales organization or both? Hopefully both, right? You really want to get both because if you have both, then you can get the velocity business and you can get the enterprise business and you want both. So if you look at a 10K ACV, well, that's definitely not a field sales rep.