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Derek O'Carroll

๐Ÿ‘ค Speaker
222 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So we give them two bucket plans and then we allow them with management to navigate the nuances that occur on a per account basis.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

But they don't.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

They don't have a hard number to get to.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

We haven't done that because I tried that in the past and it resulted in some behaviors that were not opportune.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

Yeah, the CS rep focusing too much on selling, basically.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

Correct.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And then they make decisions over the short term and it's not a good outcome for lifetime value.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

We have currently now eight account reps of which...

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

four are new.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And our RAM time for each new rep is six months, you know, by design, because that's how complex the product is.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

Yeah, but we've got eight at the moment, I would say six are fully ramped, because we just just hired to literally in the last two, two months.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

Six are deployed in the US based in Austin, Texas, and two are in the UK.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

Average ACV, so annual contract value per month that we expect from each individual head is 75k minimum.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So that's their sort of floor.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So that's about 900,000 a new AR added per year if they're effective at fully ramped.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

About that, but when you look at the fully loaded cost of each AE, we're running at about 580.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

When you take in count your BDO or your cost of pipeline and you look at all of the people that you need to feed a new AE because we run a territory model, we're stretching for 1.2, although we want everyone to hit the plan and go back to their spouse and celebrate success.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So we've got it at 900.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

But 1.2 is where we want to get to.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

Because our margin is an area of improvement as a business now that we're going through this phase.