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VP Sales Interview Questions

Corporate and HR leaders know that getting their interview process right is important. But when it comes to hiring a VP of Sales, it makes all the difference to the future success of a company.

Certain interview questions bring hidden information to the surface. At Peak Sales, we’ve assessed and interviewed over 10,000 sales leaders for our clients over the last 18 years, and we’ve compiled an exhaustive list of interview questions that will help you select your next VP Sales.

VP sales interview questions

Interview Questions for a VP Sales: The Complete List

We’ve collated the interview questions that have yielded the best outcomes. The full list of questions are grouped into four “buckets” covering each of the key areas associated with the role: personal, people management, customer management, and business management.

Shortlist: Our 10 Most Popular Interview Questions for a VP Sales

  1. Please discuss your quota performance over the last three years. What obstacles did you encounter, how did you overcome them, and what were the actual results?
  2. What attributes make a strong leader and strong coach? Discuss the attributes you possess, and share examples of how you’ve leveraged them to drive team performance.
  3. Discuss your sales management process. In particular, what parts of it are structured, rigorous, and focused on accountability, and what parts of it are unstructured? Please share examples of how your process has worked in a past role, and why it’s been successful.
  4. Please tell us about your experience in hiring and growing a sales team. What characteristics do you look for when hiring sales professionals? In a specific example, past or present, what was your recruiting approach?
  5. How do you create a winning environment? Please share examples of strategies you use to motivate your team.
  6. Talk to us about the way you approach designing and executing a sales strategy, providing examples of your most recent strategy and the impact it had on the company.
  7. Can you provide one or two recent examples of significant deals with existing key clients where you developed and executed a sales strategy to increase account revenue?
  8. Please discuss the selling tactics that were most successful in a past role. How did you develop them and implement them across the sales force? What were the results?
  9. Please describe a time when you needed to rapidly scale your sales force. How did you implement the change and what was the impact (e.g., on quota, new client acquisition, gross profit, etc.)?
  10. Please describe the best sales infrastructure you’ve put in place in your past roles. What tools, systems, and support did you use? How did you go about implementing this?

Personal attributes

These questions are designed to uncover a candidate’s values, behaviors, and character traits away from the office.

  1. Tell us about a couple of the best and worst decisions you’ve made in the past year with regard to your team or sales approach.
  2. What attributes do you possess that make you a strong leader and coach? Please share a past example of how these have come into play in relationships with your team.
  3. Please tell us about what drives you to succeed in the sales context.
  4. Describe a situation in which you had to quickly learn about a new product, service, or technology to serve a new customer base. How did you go about learning, and how successful was the outcome?
  5. Please describe your decision-making approach when you’re faced with difficult situations. Are you decisive and quick, or are you more thorough? Are you intuitive or do you go purely on the facts? Do you involve many or few people in your decisions? Please share one or two examples of difficult decisions you’ve made, how you approached them, and what the results wore.
  6. What are the biggest risks you have taken in recent years when it comes to your sales organization or sales approach? Include those that have worked out well—and not so well.
  7. What are some of the biggest challenges you have ever faced and overcome in your career as a sales leader?
  8. When you’re not at work, what do you do to enjoy yourself?

People management

A VP of Sales is not just a strategist and client manager—they are a key player in a company’s recruitment, training, and development of salespeople. The following questions address these responsibilities.

  1. Discuss how you’ve built a high-performance sales culture. What are the elements you focus on? What’s worked, what hasn’t?
  2. Discuss your sales management process. In particular, what parts of it are structured, rigorous, and focused on accountability, and what parts of it are unstructured? Please share examples of how your process has worked in a past role, and why it’s been successful.
  3. Tell us about sales teams that you have directly developed, managed and led. How did you go about building your team?
  4. What characteristics do you look for when you’re hiring sales professionals in our business?
  5. Thinking about your own extended network, who do you currently know that would be interested in joining you in our company’s sales department, right now? Why would they be a fit?
  6. How do you alter your management style when working with very seasoned sales team members, as compared to less experienced reps?
  7. Walk us through, in detail, the process you use for onboarding and training new sales reps. In terms of training specifically, when and how often does this occur on your team?
  8. Tell me about the most satisfying sale a previous team member made; what made it special for both you and your sales rep?
  9. Tell me about your relationship-building skills and style, in respect of the following:
    • Your sales team
    • Your external customers
    • Your internal customers (sales support, service, the warehouse team, senior management, etc.)
  10. What are your expectations of:
    • Your sales team
    • Your internal team
  11. How have you gone about establishing performance goals for your sales team?
  12. How do you communicate your expectations for managers and individual contributors? Discuss how your approach has changed over your career as a sales leader.  
  13. How have you gone about building a teamwork environment in the sales organization’s you’ve led? How have you done this for a remote team (if applicable)?
  14. Discuss how you typically run your weekly sales meetings with managers and individual contributors? What makes for an effective one-on-one meeting?
  15. How much feedback do you like to get from people you report to? What form do you prefer—written or face-to-face?

Customer management

These questions test the candidate’s aptitude for sales strategy and leadership, as well as their focus on results.

  1. What is your sales team’s track record for acquiring and retaining clients? Please share examples of results from past teams.
  2. Talk to us about your sales management process? Provide a brief description and tell us why it works.
  3. Provide one or two recent examples of significant deals with existing key clients where you developed and executed a targeted account sales strategy to increase account revenue?
  4. Discuss how you’ve implemented new go-to-market strategies, adjusted existing strategies, or developed new sales processes to achieve substantial revenue growth. Please provide one or two specific recent examples where your efforts and innovations resulted in significant gains.
  5. In your previous roles, what sizes were some of the largest contracts you obtained on an annual volume basis? What was critical for you and your team to win those deals and how have those learnings changed your sales strategies or selling approaches?
  6. Tell us about a deal you lost to a competitor in a previous role and what happened.
  7. Please walk us through how you approach field engagement—making joint customer calls with reps and understanding customer demands and expectations in today’s marketplace.
  8. Describe how you would involve marketing with your team for lead generation, at our company’s current stage.

Business management

The best candidates are more than just sales experts. In addition to their expertise in sales compensation and improvements to sales force efficacy, they steer the business and have influence in technology, tools, and budget allocation. The following questions are designed to help identify those candidates with outstanding business acumen and management skills.

  1. Do you have experience managing a company’s revenue forecast? If so, can you please provide a specific example of your achievement in delivering on it?
  2. In the past year, what have you done specifically to remain knowledgeable about our industry’s competitive environment, market and trade dynamics, product/services and technology trends, innovations, and patterns of customer behavior?
  3. Which sales tools do you use, and why?
  4. If you joined our organization, what specific actions would you take in the first month?
  5. What will our sales revenues look like 120 days after we hire you?
  6. Explain your strategies or thought processes around how our company can win over competitors.
  7. What do you expect from sales support roles (engineers, operations managers, etc.) at this stage of the company, and at future, scaled stages?
  8. How many salespeople do you estimate our company needs, given our goals and current position?

Finally, a closing question can help draw out the candidate’s thoughts and provide insight into how they feel about the position and the company in general:

  1. Do you have any concerns at this stage of the interview process?
  2. Do you have any questions you would like to ask me?

This comprehensive set of questions will provide a framework for filtering your candidates, based on their skills, experience and personality.

Key Responsibilities of a VP Sales

“The average tenure of a new sales leader is 19 months. No other member of the executive suite fails as often as the sales leader.”

Matt Sharrers and Greg Alexander

One of the critical mistakes companies make is building an interview process and questionnaire before fully understanding the responsibilities and functions of a sales leader. It’s is one of the reasons why the most common mis-hires in business is that of VP Sales.

This role directly influences a company’s revenue, market share, expansion potential, and culture, and the disparity in sales leaders’ performance is stark. There was a 51% gap in quota attainment between high-performing and low-performing sales leaders in a study of 400 VPs of Sales and managers: the high performers achieved 104% quota on average while the low performers reported 54%.

Your company’s revenue will end up on one side of this rift or the other because of who you hire, and hiring the right leader depends on your ability how the candidate influences people, business strategy, and customer relations to drive performance.  Let’s start with the foundation skill of a sales leader – being a people leader.

1. People Management

Preeminent sales leaders instinctively create an environment—and a culture—for success.

A VP of Sales must be a great coach. They achieve their success through the sales talent that they build, guide, and nurture. They develop individuals and help them to navigate the company when they need support and resources. Structured approach to holding people accountable.

For this reason, investing in a top sales leader is often more important than investing in a top sales rep. ZS Associates found that a team with an average manager but excellent salespeople performs well in the short term. But in the long run, excellent managers with average salespeople consistently outperform. Great managers elevate their whole team, while average managers bring excellent salespeople down to their level. And sixty-nine percent of salespeople who exceeded their annual quota rated their sales manager as being excellent or above average, according to a survey by USC’s Steve W. Martin.

Excellent sales leaders are self-disciplined and fixated on target revenue goals. They’re skilled at guarding their team from any distractions and negative attitudes that may detract from this priority focus. And they implement a strict sales process and hold their team accountable to it; according to Martin, 43% of high-performing sales managers use a closely monitored, strictly enforced, or automated sales process, compared to just 29% of underperforming sales managers. Underperforming sales leaders were more likely to have an informal sales process or none at all.

And, perhaps most importantly, sales leaders drive their hiring efforts. After all, “first class hires first class, but second class hires third class.” The future success of the sales organization rests on the VP Sales’ ability to implement systems that find, hire, and cultivate above-average talent.

2. Customer management

Industry leading VP of Sales drives financial results through their understanding of their customer segments and their ability to connect with them today and into the future. They know how nurture customer engagement by setting high-level strategy and driving their sales force to focus on the right activities and behaviors. They also represent the needs of the customer to the rest of the company, directly and indirectly.

When evaluating a VP of Sales for customer management abilities, look for their understanding of the market, the competition, and how they plan to maximize revenue by optimizing the sales process. Dig deep to understand their strategic philosophy to gain market share, segment the customer base, and influence contract size and length over time—as well as their approach to collaborating with marketing departments to achieve these goals.

3. Business management

The VP Sales steers the direction of the sales function, aligns resources, and improve key selling processes & channels.

They drive operational improvements through investments in technology infrastructure, improved data harvesting, and analysis with better data tools. They also optimize budget allocation, sales force compensation, and a whole range of team development programs. At a go-to-market level, their forward-thinking strategies can help the company increase market share and focus their efforts during expansion into new territories and markets.

_______

With such a wide range of responsibilities and influence associated with the position, hiring managers should thoroughly assess a candidate’s ability to deliver on these sub-responsibilities:

    • Recruiting a sales force
    • Designing compensation plans
    • Overseeing rep training and coaching
    • Developing a sales process and ensuring that it’s executed appropriately
    • Helping the sales force to make use of tools, customer data, and research
    • Managing metrics and setting goals
    • Managing rep performance and ensuring that it is aligned with company direction
    • Driving a culture of success
    • Setting high-level sales strategy to drive revenue

Hiring managers should also closely examine a candidate’s success with previous companies as a key indicator of future performance.

Candidate Evaluation

When developing an interview questionnaire, the first task is to create a set of mandatory hiring criteria: the qualities, attributes, abilities, and experience that a candidate must demonstrate in order to be considered for the position.

These criteria should be codified in a candidate scorecard that each interviewer fills out after interviewing a candidate. In sales hiring, these formal scorecards, as well as rubrics and structured interview questionnaires, yield the best results. They also combat hiring biases.

Indeed, research has shown that unstructured interviews and hiring methods can actually harm selection to such an extent that companies would be better off were they to select candidates entirely at random. Conversely, companies that use structured hiring tools in the interviewing process have been shown to have a more effective sales force. Research by CSI Insights indicates that a greater percentage of such companies’ reps achieve quota, and have a greater confidence in their organization. Particularly noteworthy is that retention rates are also significantly improved.

Our scorecard worksheet and template is available for download here.

Post-interview reflection

Once the interview is over, fill out your scorecard and reflect on the following five questions:

  1. Can this candidate hit their targets quickly?
  2. Can I obtain verifiable proof to assure me that this candidate has delivered in the past?
  3. Is the amount of disruption this candidate will cause proportional to the amount of disruption the company can handle?
  4. How will the customers react to him or her?
  5. Is this candidate better than, equal to, or worse than the person in the same job at my top three competitors?

By taking these questions into account, along with the hiring criteria on a formal scorecard, hiring managers can significantly improve their chances of making the right hire. These carefully curated questions are specifically designed to do just that.


Your next VP of Sales is a crucial hire. They influence your people, your business strategy, and your customer relations, so it’s imperative to design interviews that weed out the bad candidates and deliver the one outstanding individual who is a perfect fit for your business.

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Ten Austin Tech Companies To Watch If You’re In Sales

Austin texas sales hiring

If you’re a sales leader looking for your next career move, Austin should be on your radar. It’s “the home of live music,” but it’s not just the music scene that’s thriving—the city’s reputation as a tech hub continues to grow, and now may be just the right time to consider joining one of Austin’s flourishing scale-ups.

Here we look at ten up-and-coming, Austin-based tech companies that are already making waves with disruptive products and innovative positioning. They all have strong investor support and fresh, individual visions … and they’re definitely worth keeping your eye on.

Why? The city’s tech community is attracting some of the country’s top sales talent, but it is hungry for more. Hiring grew 11% in June 2018 compared to the same period just 12 months earlier.

hiring rates in austin texas

 

These ten exciting Austin tech companies are contributing to the hiring landscape and the city’s tech nexus:

1. ThousandEyes

Thousand eyes logo

ThousandEyes empowers businesses to see, understand and improve connected experiences everywhere. The ThousandEyes cloud platform offers unmatched vantage points throughout the global internet and provides immediate visibility into experience for every user and application over any network. Companies can deliver superior digital experiences, modernize their enterprise WAN, and successfully migrate to the cloud.

Industry: Software

Industry Outlook: The cloud services market is expected to double from over $150 billion in 2017 to $302 billion by 2021, and grew 21% in the last year. Infrastructure-as-a-service is the fastest growing subcategory, and Chief Information Officers are using cloud services as basic infrastructure for new business initiatives. Enterprises are rapidly migrating applications into the cloud or simply deploying them in the cloud to begin with; 45% of applications workloads were in datacenters in 2017, down from 60% in 2016. Amazon Web Services has the largest public cloud market share, followed by Microsoft Azure, Google Cloud Platform, and a long tail of providers.

Growth stage: Series C

Selling tools available:Free trial; demo request for lead generation; learning and resource center with webinars, whitepapers, tech talks; case studies in PDF and video formats; hosts an annual industry conference

Awards received:

  • Named “Best Data-Driven SaaS Product” in the 2018 SaaS Awards program
  • Ranked 22nd in Glassdoor and Battery Venture’s “Top 25 Places to Work in 2018”

Funding: $60.7M in 5 rounds

  • 5 investors in latest round
  • 3 lead investors
  • 5 investors total

Employee perks:

  • Health insurance, dental, and vision benefits
  • Retirement plan and stock options
  • Free daily meals
  • Commuter benefits

Glassdoor reviews: Ratings: 4.6 out of 5 stars. 88% recommend to a friend. 99% approve of CEO.

View ThousandEyes Sales Careers.

“Great team, high energy, excellent resources, amazing solution offer—this company values its employees and supports as best they can (for their pound of flesh). When in, role your sleeves up and hold on! ThousandEyes is a hit and will go from strength to strength based on their unique offer.”

“The environment is really friendly, creative, young and talented. Office is full of perks such as stocked kitchen, catered lunches … and games/toys everywhere. If you’d like to try the challenges of a startup, this is definitely the place to be. Flexibility is required to fulfil the many needs of a young and quickly growing company. Very different environment (much more dynamic and fun) if compared to a corporate.”

 

2. New Knowledge

new knowledge logo

New Knowledge is a cybersecurity company that helps businesses monitor and defend against the viral spread of intentionally damaging misinformation. They help detect false narratives before they can make an impact, and they monitor social media to identify fake accounts, fake news, and propaganda campaigns.

Industry: Artificial intelligence and machine learning

Industry Outlook: Artificial Intelligence (AI) continues to be one of the most exciting and fastest growing sectors across the tech industry. Leading CEOs in all industries agree that AI represents a significant potential business advantage to their organizations. Chief among the factors driving the market are the increasing adoption of AI-enabled products, and software solutions, both of which improve customer service. Consequently, the market is poised for growth, with a CAGR of above 35%. By 2024, the AI market is expected to reach $191 billion.

Growth stage: Series A

Selling tools available: Demo request for lead generation; resource center with ebooks, reports and whitepapers; tech podcasts

Funding: $13M in 4 rounds

  • 3 investors in latest round
  • 2 lead investors
  • 9 investors total

Employee perks:

  • Flexible spending account, dental and vision benefits
  • Retirement plan and stock options
  • Flexible working
  • Unlimited vacation policy
  • Training and conference opportunities
  • Casual dress, beer on tap, and company outings

Glassdoor reviews: No ratings or reviews available.

View New Knowledge Sales Careers.

 

3. CognitiveScale

cognitive scale logo CognitiveScale enables businesses to win with machine intelligence. Its focus is on “augmented intelligence” to emulate and extend human cognitive function, rather than “artificial intelligence” to replace it. The company’s flagship products—CognitiveScale ENGAGE and CognitiveScale AMPLIFY—help enterprises transform customer engagement, improve decision-making, and deploy self-learning business processes.

Industry: Artificial intelligence and machine learning

Industry Outlook: AI is already helping businesses and their customers in meaningful ways, and as it evolves, it will become even more central to enterprises. Machine learning helps businesses harness customer information to understand digital behavior, helping ecommerce companies personalize experiences, helping financial businesses prevent fraud, helping healthcare providers automate administrative processes, and more. For AI to take a prime time seat in enterprise, says founder Ashkay Sabhiki, it needs to develop in three core ways: performance (demonstrating business improvements), assurance (data safety and guardrails for AI systems), and governance (end-to-end visibility of AI systems).

Growth stage: Series B

Selling tools available: Resource center with whitepapers, reports, webcasts and video tech talks; PDF case studies

Awards received: 

  • Recognized in World Economic Forum “Technology Pioneers Cohort 2018”
  • Named as one of seven “Hot Vendors” by HfS Research
  • Included in “Cool Vendors in Retail 2016” report by Gartner, Inc.
  • 2016 Stratus Award Winner, Cloud Disruptor, Small Company
  • Included in CRN’s “10 Coolest Startups of 2016”
  • One of BuiltinAustin’s “Top 50 Startups to Watch in 2016”
  • One of 12 companies included on Austin Chamber of Commerce’s “A-List of Hottest Startups 2015”

Funding: $40M in 3 rounds

  • 1 investor in latest round
  • 2 lead investors
  • 7 investors total

Employee perks:

  • Health insurance, dental, and vision benefits
  • Retirement plan
  • Unlimited vacation policy
  • Free meals and stocked kitchen

Glassdoor reviews: 3.8 out of 5 stars. 79% recommend to a friend. 76% approve of CEO.

View CognitiveScale Sales Careers.

“Easily one of the best AI companies out there. Amazing vision that is being delivered with each release. Great partners and investors. Good people. Free lunches are awesome. Takes away the pain of dealing with choices and traffic during the day. Encourage social activities every week.”

“I’ve been with this company since very early on. I knew something amazing was going to happen when I saw the quality of people who were leaving high level careers elsewhere to join what appeared to me to be a ‘nice little tech startup’ …  I see the passion and commitment to truly ‘changing the world’ … I feel very fortunate to be here and look forward to what the future holds for us.”

 

4. TrendKite

trendkite TrendKite helps PR professionals and agencies build a timely, highly-accurate picture of their brands’ media coverage with ease. It’s an innovative platform that is transforming how companies like BP, Snapchat, Campbell’s Soup, and CDC measure the impact of earned media.

Industry: Enterprise Software, Analytics, Big Data

Industry Outlook: PR tools monitor digital, social, and print media to help companies understand their media coverage and consumer engagement in one place—as well as find actionable insights, quantify impact, and calculate ROI. The global PR tools market size in 2015 was $4.5 billion and estimated to reach $13 billion by 2024.

Big data as a broader industry category is enormously useful in helping organizations identify customer behaviors and derive useful decisions from patterns. The current market revenue for big-data-related software and services is $42 billion. According to an Accenture study, 79% of the executives of enterprise companies think that embracing big data is essential to their businesses’ survival and 83% of them have pursued big data projects to gain a competitive advantage. Worldwide big data revenue from software and services is expected to increase from $42 billion in 2018 to $103 billion in 2027—that’s a CAGR of 10.48%.

Growth stage: Venture

Selling tools available: Demo request for lead generation; resource and learning center with tech videos, reports, whitepapers, webinars, ebooks, toolkits and case studies

Funding: $47.6M in 7 rounds

  • 1 investor in latest round
  • 5 lead investors
  • 11 investors total

Employee perks:

  • Health insurance, dental, and vision benefits
  • Unlimited vacation policy
  • Stock options
  • Stocked kitchen
  • Commuter benefits

Glassdoor reviews: 3.7 out of 5 stars. 67% recommend to a friend. 82% approve of CEO.

View TrendKite Sales Careers.

“I started my sales career at TrendKite, and I learned more than I could have ever expected to. It’s rare that you hear of a high energy, high velocity sales environment at a company that sells a high-ACV product.”

“Great atmosphere with amazing people combined with work that is fulfilling—a winning combination.”

Trendkite team

 

 

5. Datical

Datical’s mission is to transform the way businesses build software by modernizing and automating the database release process. They’re connecting phenomenal open source IT projects and automation solutions to enterprises that need them, and aim to solve pains that proprietary software vendors ignore—read: “The Velocity Gap.”

Datical database release chart

Industry: Software

Industry Outlook: Datical addresses the $22B IT Systems Management market. DevOps tools specifically help development teams, operations teams, and QA teams work together seamlessly for better software delivery. They enhance productivity, automate software development, shorten product cycles, and lower costs. The market is estimated to be worth $12.8 billion by 2025 with a CAGR of 18%.

Growth stage: Series C

Selling tools available: Resource center with webinars, tech videos, and whitepapers

Funding: $17M in 7 rounds

  • 2 lead investors
  • 8 investors total

Employee perks:

  • Flexible spending account
  • Disability insurance
  • Dental benefits
  • Retirement plan and company equity
  • Parental leave and unlimited vacation policy
  • Casual dress
  • Company outings
  • Commuter benefits
  • Training and conference opportunities

Glassdoor reviews: 5 out of 5 stars. 100% recommend to a friend. N/A approve of CEO.

View Datical Sales Careers.

“Datical has a great community of talented, results-driven individuals who are genuine and fun to be around! It’s a healthy culture that’s good about recognizing and celebrating individual and collective success. There is a lot of opportunity to have an impact on the business and leadership is very receptive to new ideas that would add value to the business.”

“Great office, lots of snacks, experienced management, legit core values, good comp, customers love the product.”

Datical team

 

6. OneSpot

OneSpot is a content marketing personalization platform that helps brands bring customer journeys to life. They help brands and publishers deliver individualized content experiences through technology and strategic support. OneSpot uses machine learning and natural language processing algorithms to understand website visitors’ consumption patterns and then deliver relevant content across websites, email, and other channels.

Industry: Machine learning and marketing technology

Industry Outlook: Savvy marketers are already harnessing the power of AI to understand customer behavior, automate routine tasks, and help them be proactive instead of reactive planners. The human touch is still required to create great content, but AI can make personalization recommendations that humans may not see, cut production times, and automate laborious tasks.

AI is the technology that most marketers feel unprepared for—a recent report indicates that 34% of global marketing executives felt ill-prepared to implement the technology. AI SaaS businesses are here to change that. According to Salesforce, just over half (51%) of marketers are currently using AI, but a further 27% expect to implement the technology by 2019. Of all leading technology that marketers expect to rise in implementation in the next year—including the Internet of Things and marketing automation—AI shows the highest anticipated year-on-year-growth.

Growth stage:Venture

Selling tools available: Demo request for lead generation; resource center with whitepapers and guides, case studies, webinars and infographics packages

Awards received:

  • Winner inaugural Advertising Week StartUp Pitch Competition 2017
  • Named in the EContent 100 List of “Companies That Matter Most in the Digital Content Industry”
  • 2016 Silver Edison Award winner for “Innovative Services, in the Digital Management & Marketing” category

Funding: $17.9M in 7 rounds

  • 1 investor in latest round
  • 2 lead investors
  • 11 investors total

Glassdoor reviews: 4.3 out of 5 stars. 83% recommend to a friend. 73% approve of CEO.

View OneSpot Sales Careers.

“The best thing about OneSpot is the great people. They’re not just friendly, but very capable and experienced in each domain from development to marketing. They’ve held true to the “no jerks” hiring policy … Management expects the best from you while you’re working, but respects the fact that you have a life to live outside of work as well …”

“Great working environment, smart experienced co-workers, quality work/life balance, transparent executive team, ability to reach above and beyond your role, lots of voice/input for mid-level employees, great snacks … Because it’s a startup, it can be challenging at times without working processes in place.”

Onespot office

 

7. Brightpearl

Brightpearl logo

Brightpearl is a cloud-based ERP (enterprise resource planning) for retailers and wholesalers, based in Bristol, UK in addition to Austin, Texas. Their mission is to automate the back office so merchants can spend their time and money growing their businesses.

Industry: Software and ecommerce

Industry Outlook: It’s not surprising that ecommerce increasingly accounts for a larger proportion of retail sales in the US than ever before. Global ecommerce markets are projected to grow to $4 trillion in 2020, so it’s clear why small and mid-sized businesses are migrating some—or even all—of their operations to online platforms. Online operations improve efficiency and transparency, and give retailers scalable access to new audiences. Cloud-based services drive this all; the market for ecommerce-specific software is currently around $4 billion. ERP software as a larger category—not retail-specific—is projected to grow to around $63 billion by 2025, propelled by demand from small and mid-sized companies and growing acceptance of mobile and cloud-based infrastructure.

Growth stage: Venture

Selling tools available: Demo request for lead generation; resource center with articles

Awards received:

  • Named “Best SaaS Company to Work For in the UK” at the SaaS Growth 2018 Awards, ahead of companies like Microsoft, Adobe, LinkedIn, Slack and Hootsuite
  • Named “Venture-backed management team of the year” at the 2018 British Private Equity and Venture Capital Association (BVCA) awards

Funding: $54.5M in 7 rounds

  • 3 investors in latest round
  • 4 lead investors
  • 8 investors total

Employee perks:

  • Health insurance, dental, and vision benefits
  • Retirement plan and stock options
  • Casual Dress
  • Company outings
  • Some meals provided

Glassdoor reviews: 3.9 out of 5 stars. 77% recommend to a friend. 76% approve of CEO.

View Brightpearl Sales Careers.

“Cool product! Solid UI, and overall pretty easy to use. Flexible enough for most SMB e-tailers to take advantage of, and gain some clarity into sales.”

“Cutting edge sector. Very lucky to have joined this company as I now know they are about to become a major player due to the leadership of the CEO and management. A lot of opportunities to progress your career here if you are willing to work hard and be imaginative… Like any company on the verge of major success, you have to be able to move fast so that means putting in a lot of time and being adaptable but the big decisions the CEO has made are being proven to be right.”

 

8. SpyCloud

spycloud logo SpyCloud is a pioneer in breach discovery. They strive to help businesses of all sizes mitigate data breaches by proactively alerting when employee or company assets have been compromised. They accomplish this through their early-warning breach detection service powered by a world-class team of intelligence analysts.

Industry: Software and security

Industry Outlook: As the digital world expands into every aspect of life, cybersecurity has become increasingly important and prominent in the consciousness of the public as well as businesses. Companies and governments routinely collect enormous amounts of confidential data—and it sometimes seems as if data breaches have become commonplace occurrences. Companies are allocating more and more resources to secure their data, as awareness of high-profile cyber attacks and data losses grow. Venture capital firms have invested approximately $13.6 billion in cybersecurity since 2013:

Cybersecurity venture deals chart

Predictions:  The global market for information and security products and services is expected to grow to $124 billion by 2019 — an 8.7% increase.

Growth stage: Series A

Selling tools available: Free trial; resource and learning center with whitepapers, webinars and ebooks; case studies; tech videos

Awards received:

  • Winner of the “Best of Show” award at Finovate Fall 2017
  • Winner of NATO’s Defense Innovation Challenge 2017

Funding: $7.5M in 2 rounds

  • 2 investors in latest round
  • 2 lead investors
  • 2 investors total

Employee perks:

  • Health and dental benefits
  • Company equity options
  • Generous PTO and flexible working
  • Stocked kitchen and catered lunches

Glassdoor reviews: No ratings or reviews available.

View SpyCloud Sales Careers.

 

9. Mineralsoft

mineralsoft logo MineralSoft is the leading solution for mineral rights and royalty management. They develop solutions to help investors manage their mineral, oil, and gas investments.

Industry: Management information systems and business analytics

Industry Outlook: The oil and gas industry has seen a massive influx of capital into mineral interests over the last decade, bringing the market for this asset class to an estimated $1 trillion. But oil and gas investors struggle with managing their portfolios, as most processes are based on paper and outdated technology. There’s a growing need for new technology to help investors manage portfolios at scale, track ROI, and identify new investment opportunities.

Growth stage: Series A

Selling tools available: Case studies

Funding: $9.2M in 4 rounds

  • 3 investors in latest round
  • 1 lead investors
  • 7 investors total

Employee perks:

  • Comprehensive benefits package
  • Flexible time off and paid sick leave

Glassdoor reviews: 5 out of 5 stars. 100% recommend to a friend. 100% approve of CEO.

View MineralSoft Sales Careers.

“This is a startup that has done a lot of things right. They have created a great environment that values collaboration and respect. The work is interesting and we’re solving big problems. There are no big egos here. There are just people getting the job done in an inspiring environment.”

“MineralSoft has a great product and a great team that cares about that product. They are focused on the right aspects of growing a business. They truly care about their customers’ satisfaction and feedback, they’re scaling and processing appropriately for forecasted growth, proactively improving their product, and building a solid employee support”

 

10. Worksmith

Worksmith Logo Worksmith’s marketplace connects commercial clients like retailers, restaurants, salons, spas, clinics, etc. with local service providers, such as cleaners, handymen, painters, plumbers, event planners, and tailors. The platform also simplifies the hard work of finding, scheduling, managing, and paying them. Clients can submit work orders, review estimates and pay their chosen service provider with Worksmith—for free.

Industry: Enterprise software

Industry Outlook: The local on-demand industry had an estimated market value of $34 billion in the United States alone in 2016, which includes rideshare services like Uber and Lyft. The commercial clients that Worksmith serves are a portion of this market. The local on-demand services sector has grown more rapidly than ecommerce when comparing market penetration in the US over time.

Growth stage: Later-stage VC

Selling tools available: Demo request for lead generation

Funding: $20.64M in 4 rounds

Employee perks:

  • Company outings
  • Flexible leave and sickness policy

Glassdoor reviews: 4.0 out of 5 stars. 65% recommend to a friend. 65% approve of CEO.

View Worksmith Sales Careers.

“Fast paced work environment where your work is valued and makes a difference everyday. Coworkers are goal oriented, hardworking, & bring a high energy. Management team has experience and makes it easy to learn from them.”

“They are constantly looking to improve their product, which provides a lot of opportunities to contribute ideas, implement processes, and provide feedback. They try to do frequent Q&A’s with the CEO so people can bring up questions or concerns. There are frequent team outings like ping pong tournaments or happy hours.”

 

These are a few of the most eye-catching new companies in Austin, a city world-renowned for its music and gorgeous landscape—and perhaps soon for the opportunities it holds for talented sales leaders. If you’re looking for a new career challenge, look no further than Austin, where the sun keeps shining—and the innovation never stops.

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One-on-One Meeting Templates

We’ve collected wisdom from sales leaders on how to run efficient and performance-focused one-on-ones with reps.

One-on-One Agenda Template

Download the template as a PDF

Jump to:

One-on-One Meeting Agenda Template

Sample One-on-One Questions for Managers

The importance of one-on-ones for sales teams

One-on-ones are an important platform for developing trust and rapport between sales reps and managers. They’re a chance for leaders to engage in a personal dialogue, understand individual strengths and weaknesses to best guide and motivate reports, and keep the team focused on sales results.

One-on-One Meeting Template for Sales Managers

Rep productivity increased by 25% in under 18 months at one consumer services company as soon as a sales leader stopped issuing blanket sales directives and started implementing one-on-one sessions and ride-alongs. Managers focused on nurturing specific skills and set concrete goals to enforce rep development. The human element to management had been missing, but once the company prioritized it, it made an undeniable impact on revenue.

Interestingly, there’s a discrepancy between how much sales leadership believe they coach, and how supported reps feel. Leaders at another Fortune 500 company perceived that they spent enough time coaching their direct reports, scoring themselves in the 80th percentile. Meanwhile, their direct reports believed they receive little to no coaching from their leaders, scoring them at the 38th percentile. Could there be a similar gap on your team? This guide will help you close the rift.

Coaching style influences revenue results

A sales leader who is dedicating just the right amount of time to coaching and one-on-ones may still be able to improve their coaching style. Formal and dynamic coaching styles are correlated with a 13% and 27% increase in win rates, respectively, as compared with random and informal approaches.

  • Random coaching: Coaching is “left up to managers,” and there are no top-down guidelines.
  • Informal coaching: Guidelines are available, but no defined process has been formally implemented.
  • Formal coaching: Leaders are expected to coach according to a structured process; there is a formal effort to develop their skills; there are periodic reviews to optimize process and guidelines.
  • Dynamic coaching: A formal process is connected to the sales enablement approach to ensure reinforcement and adoption of the initiatives by salespeople.

Sales leaders should evaluate their company’s coaching process to implement a system that is structured and predictable, yet flexible enough for a personal approach that’s effective in driving results.

Create a agendas to provide structure to your one-on-ones

Agendas bring this proper structure to one-on-ones, help squeeze more value out of every minute, and provide continuity across meetings week to week.

Asking the right questions in one-on-ones clarifies actions and expectations from both sides and opens the discussion to wider problem-solving and troubleshooting. One-on-one meetings are a dialogue, and an agenda can help you stay on track.

Do’s and Don’ts of One-on-Ones

There are a few ground rules for sales managers to ensure the best outcomes.

Do:

  • Come to the meeting prepared, and have your rep prepare as well. A good place to start is to share an agenda (a sample template is included below).
  • Review performance metrics, but take a holistic approach. Laurie Page, Managing Partner at Bridge Group, says, “Go beyond the metrics. For example, as a Sales Leader, I always had reps come with responses to the following questions:”
    • Top 2 accomplishments (from our last meeting or the week)
    • Top 2 challenges with a proposed solution (from our last meeting or the week)
    • What you’d like from me (as your leader)
  • Document the outcome at the end of each meeting. Agree on action items and deadlines, and record them in writing in an email summary or shared document. Writing them down ensures accountability and eliminates misunderstandings.
  • Strategize with reps and help them identify solutions. Page recommends, “Instead of saying, ‘you need a bigger pipeline,’ brainstorm with reps on actual strategies and tactics to increase pipeline.”
  • Schedule regular, recurring one-on-ones with every member of the team. They can be weekly, biweekly, or monthly, but place them at the same time and on the same day. This predictability helps the rep to deliver on action items from the previous meeting by creating clear deadlines.
  • Be on time or early. This demonstrates that you value and care about the employee.
  • Schedule 5–15 minutes of buffer time at the end of a one-on-one to privately synthesize your thoughts and notes about team needs. (If your one-on-one is 25 minutes, schedule 30; if it’s 45 minutes, schedule 60.)

Don’t:

  • Never cancel one-on-one meetings, and reschedule only if absolutely necessary. This supports accountability.
  • Never use phones during the meeting. It’s crucial that you are 100% present. Taking brief notes on a laptop is fine, but discussion and connection are the priorities, and they should take precedence over everything else.

A few advanced tips:

Salesforce’s Colin Nanka suggests that employees can send their manager an agenda in writing 24–48 hours ahead of the one-on-one. This helps them identify high-priority discussion meetings and lets you get up to speed in advance so the meeting stays concise but provides maximum value.

He also suggests to schedule one-on-ones for the beginning of the week, preferably on Mondays and Tuesdays. This allows reps to plan their week according to the priorities identified in the meeting.

Meanwhile, Cameron Herold, author of Meetings Suck, recommends that managers schedule one-on-ones on the same day as sales leadership meetings, in which managers review numbers, dashboards, and goals. That way, all sales leaders are on the same page and bring the same core priorities to their one-on-ones later.

One-on-ones are easy to neglect or get wrong, but they’re not difficult to get right when you follow these core principles and rules of etiquette. A little thought and planning will quickly enable you to get the most out of your relationships with reps.

 

One-on-One Meeting Agenda Template

This agenda template provides a high-level structure for your one-on-ones, which you can customize using our sample questions below (or write your own).

How long the meeting lasts is up to you, but they’re usually in the range of 30–60 minutes. Sixty minutes allow you to dig into the issues at hand. Thirty minutes forces you and your rep to be more efficient and may be more manageable if you have a large number of direct reports.

One-on-One Agenda Template

Download the template as a PDF

Schedule 30–60 minute calendar block for a 25–45 minute meeting.1. Meet with rep (25–45 min):

  • 5 min: Open-ended starter question (“How was last week?”)
  • 15–30 min: Structured questions (see examples of questions below)
    • Evaluate previous week’s performance
    • Problem-solve specific situations
    • Ask the rep for feedback about the manager
    • Assess areas for personal and professional growth
    • Set up next week’s goals and expectations
  • 5 min: Define action items in writing

2. Transition (5–15 min): Buffer time for the manager to consolidate high-level thoughts and jot down notes, take a short break, and make it early to the next meeting.

 

Sample One-on-One Questions for Managers

To encourage this dialogue, we’ve developed these open-ended questions to help open up the discussion and to stimulate the rep to think critically about the points raised.

To encourage this dialogue, we’ve developed these open-ended questions to help open up the discussion and to stimulate the rep to think critically about the points raised.

Evaluate the previous week’s performance

  • What was last week’s goal?
  • Did you hit it?
  • Ask about specific selling activities:
    • Calls
    • Emails sent
    • Demos
    • In-person meetings
    • Proposals
  • What happened during these activities?
    • Dig into the details and ask for any data available. For example, when discussing calls, look into the number of calls attempted, how many connections were actually made, the call lengths, and the results.

Set up next week’s goals and expectations

  • What are your plans and priorities for the coming week?
  • What are next week’s targets, in terms of the selling activities discussed above?

Coach and problem-solve specific situations

  • What’s working?
  • Where are you getting stuck?
  • If there is a problem, what do you think it is? (This question-and-answer-based, collaborative style of “argumentative” dialogue is known as the “Socratic method,” and it helps you work more closely with the rep to identify the root causes of any issues and get buy-in for change.)
  • What might you do differently?
  • Kelly Riggs of The Business LockerRoom recommends asking the rep to detail one thing that worked and one thing that didn’t in the previous week, and to name:
    • One thing to start doing
    • One thing to stop doing
    • One thing to keep doing

Utilize the following types of sales coaching to guide the rep through real-world scenarios they’re currently engaging with:

  • Sales skills coaching: Troubleshoot sales skills and a rep’s ability to communicate value.
  • Lead and opportunity coaching: Examine a specific lead or account to determine its position in the buyer’s journey. Discuss the optimal activities for the rep to move it forward.
  • Pipeline coaching: Together with the rep, assess their pipeline and determine the most promising accounts. Collaboratively define where they should focus their energies.

Laurie Page shares a tactic she loves to use, developed by Larry D’Angelo, SVP of Sales at LogMeIn. “The idea is that a leader should go through their reps’ forecasts deal by deal. You’ll do another layer of sales qualification by asking:

  1. Why does the the prospect need to buy anything?
  2. What’ll happen if they do nothing?
  3. Which of our key differentiation have they locked on to?

If the reps can’t answer all three questions clearly, don’t report that opportunity up into your forecast.”

Ask for a rep’s feedback about you as a manager

  • Do you have any feedback for me?

Feedback for you as a manager is just as important as the feedback you give to your rep. Ask what you’re doing well, or what you can do to provide better support. Kelly Riggs suggests asking the rep to use the SBI model (Situation, Behavior, Impact) when delivering this feedback.

Assess areas for personal and professional growth

  • How are you doing?
  • What is one thing I can help you with this week to support your growth?

Asking insightful and incisive questions during one-on-one will yield a large amount of information and direct your attention to areas where your rep needs the most development.

Evaluating Employees During One-on-Ones

One-on-ones are not a forum for berating or badgering a rep; on the contrary, their primary purpose is to nurture and benefit the employee. According to Kelly Riggs, the chief idea of a one-on-one is for sales leaders to ask open-ended questions and listen carefully to the answers so they can properly evaluate their employees. Being attentive will alert you to particular patterns and behaviors that need work.

As you work through an employee’s performance reports during one-on-ones, ask yourself these questions:

  • Does she create an effective plan each week? Is it consistent with her overall sales plan?
  • Is she executing her plan?
  • Does she have a strong understanding of our sales process?
  • Is her sales pipeline full of qualified opportunities?

Riggs advises against knee-jerk reactions and instant results-oriented decisions. “I resist the need to correct and criticize every problem I see,” he says. “Don’t jump into major correction during the first two or three one-on-one meetings, because you’ll want the pattern to surface and become apparent through observation.”

Similarly, it’s often a good idea to ask for permission to give advice when behavior correction is necessary—for example, there may be occasions when more serious issues simply can’t wait until an annual review. “In those situations when I most definitely want to offer specific advice, I actually ask permission,” Riggs notes. Wording the advice diplomatically—and asking permission to do so—will usually yield better results than laying down the law. “You will be surprised at the difference it makes to ask rather than simply dictate next steps,” he says.

Take brief notes during or after the meeting, to which you can refer during future one-on-ones, and which will help you evaluate the rep’s planning abilities and how they’ve achieved their goals from the previous meeting (or not).

Throughout the process, the focus needs to be on the rep and the development of their potential.

Make one-on-ones happen

Every sales force is judged on its performance. But every team is also made up of individuals, and great sales leaders make sure that they connect personally with every member of their team to meet their unique needs and help them reach their highest potential. By holding effective, meaningful one-on-ones, you can have tangible effects on sales results, as well as employee morale and retention.

Every organization has a different culture and philosophy, but sales leaders can customize one-on-ones to suit their team’s environment and temperament. The meetings’ frequency and length, as well as the type and number of questions discussed, can be continuously refined and adapted, growing and evolving with the team and the business.

What’s most important is consistency, and ensuring that the meetings happen in the first place. If you don’t yet have a practice of regular one-on-ones, it’s up to you to make it happen. Instigate your first meetings straight away and optimize them from there.

The data reveals the value of these meetings, but your team’s morale—and sales results—will speak for themselves.

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B2B Sales: 7 Ways It’s Changing Fast

evolution sales b2b change technology tech grow growth

The world’s oldest professions is not immune to disruption. The evolving role of the sales rep, the maturation of millennials, the incorporation of big data and AI, and other ground-shaking variables are fundamentally impacting sales, forcing B2B sales leaders to brace for the shift.

Here are nine things you need to know about how B2B sales is changing:

1. Salespeople are still the most integral part of the B2B buying process — but the expectations have changed.

sales people salespeople asset important critical crucial solution customer client need needs agile adapt agility

Seventy-percent of buyers want to involve a sales rep during the exploration stage. B2B buyers expect salespeople to help them work through complex buying challenges.

This contradicts Forrester’s study which suggests that salespeople are not as valuable as they used to be. Their overall value has not decreased. But their role is no longer to teach clients about the product, but to make it suit their situation.

B2B buyers don’t want an “off-the shelf” product. They want a comprehensive, customized solution that is tailored to meet their needs. Because of this, the sales rep of today is more important than ever.

Recent Gartner research shows that buyers no longer move through a funnel one step at a time. They needs sales people to guide them through the parallel processes of explore, evaluate, engage, and experience.

loyalty loop active engage engagement post purchase consumer

To reach clients, top B2B sellers are using the most influential activity: direct interaction to connect with buyers. This is buyer’s preferred method. Digital marketing channels, while still valuable, are some of the least influential marketing activities.

influence influential market marketing b2b business sale sales seller selling

B2B buyers want to end their solo research by talking to a rep. That rep can take everything they’ve learned and package it into a personalized solution. Top reps of today embrace their changing role in the funnel by tailoring solutions for their clients.

2. Top reps are harnessing digital tools more than ever.

0 percent zero meeting engagement effort customer client

Out of 2 trillion annual Google searches, one third of searchers never click past the first page.

Top sales organizations invest in SEO. Since 93% of website traffic comes from a search engine and 50% of visitors are more likely to click on a link if it shows up more than once, SEO gives them an advantage over organizations that neglect to harness digital tools.

Traditional methods of product marketing are less effective than brand marketing. Fifty-four percent of buyers say they don’t trust traditionally branded content so marketers must shift their focus to brand awareness, using digital tools.

Brand awareness is extremely valuable since sixty percent of B2B buyers only shop with one or two brands in mind in the first place.

 

Wisely, 89% of marketers say brand awareness is their most important goal. 

3. Big data is replacing “gut and feel”.

Companies that replace gut feeling with big data are 6% more profitable. 

Big data allows competitive organisations to qualify leads by analyzing data and using it to create targeted content, eliminate unnecessary costs, and make better decisions by innovating products and processes.

analytics big data

Eighty-five percent of top organizations are moving in the direction of big data to radically improve lead generation, client relationship management, and maximize client value. Only 37% succeed.

Currently, there are over 6 million developers working on big data and advanced analytics. This number will not be decreasing. In fact, more big data has been produced in the past two years than in the history of humanity. Big data is not going away.

By 2020, there will be five times as many citizen data scientists as traditional data scientists. 

4. AI is changing how we sell.

Seventy-two percent of business leaders think of AI as a “business advantage”. And yet, only 15% of businesses are using it.

AI artificial intelligence voice search searches powered

Our reliance on AI can be quantified by the one billion voice searches per month. This has become a remarkable tool for businesses. Sales reps can now ask Alexa for insights into a prospective customer or ask Siri to bring up the numbers on last quarter.

 AI disrupts the status quo. It pinpoints leads with the greatest likelihood of conversion. AI equips the modern sales rep with the tools they need to find their best-fit customers.

5. Millennials are forcing selling styles to change.

Today, there are 56 million millennials working which amounts to thirty percent of the workforce. Chances are, you work with at least one.

Millennials expectations with regards to marketing campaigns are for personalized, curated material. This does not change when they make purchasing decisions for their businesses.

millnial buy buying buyer phase phases cycle funnel

Millennials make 73% of purchasing decisions for their companies. Top organizations attract millennial B2B buyers by focusing on personalized content, authentic relationships, efficiency, and corporate responsibility. They understand what their audience values.

Top sales organizations have adapted their processes to succeed among millennial buyers by concentrating on delivering efficiency, transparency, and uniting the buying  team on a single solution.

6. Account-based selling is on the rise.

Buying teams today are comprised of 5.4 people rather than being the one-man-show they used to be. Top sales organizations know that it is ten times more expensive to gain new clients than maintain old one. They adapt to prioritize an account’s health.

business relationship to client preferred vendor supplier solution provide provider trust trusted advise adviser advisor strategy strategic partner b2b sale sales sell

Loyal customers are 60-70% more likely to buy again.

In addition, ABS allows smaller companies to successfully sell to micromarkets by focusing on “farming” to develop the client relationship.

ABS teams are now made if four primary roles: an account executive, a sales development representative, a marketer, and a support representative. ABS is responsible for 75% larger deals. Using the ABS system, companies have reported a 150% growth in customer lifetime value.

7. Hiring skilled reps is harder than ever.

The ease of posting online jobs blinds us to the recruiting crisis the sales industry faces. 

Despite the increasing channels through which candidates can apply, top sales organization are not seeing candidate quality increase. Kevin Green, chairman of the Recruitment and Employment Confederation, said that the recent skill and talent shortages will only get worse and added:

“Organizations are going to have to work harder to attract talent over the next decade.”

top sellers actively gainfully employed

To complicate matters, most top sellers are currently actively and gainfully employed. The good news is if you have invested in employer branding, you are three times more likely to make a quality hire. The bad news is top reps aren’t looking to be hired.

They are succeeding in their current role, adapting to the 20% longer B2B sales cycles, spending 33% more time with customers per week, focusing on 40% fewer accounts. This means that the top sellers are targeting their attention to nurturing fewer accounts while average sellers are inundating you with resumes.

Conclusion

Top organisations stay ahead of the curve when it comes to B2B sales. The changing roles of the sales rep, brand awareness, and big data are only the tip of the iceberg. AI, millennial buyers, account-based selling, and the shortage of talent will continue to flood the sales landscape and change the nature of B2B sales.

Like what you’ve read? Get your secret weapon in making your sales hiring process more effective by downloading our eBook, Make the Right Sales Hire, Every Time.

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How to Handle Counter Offers — and Win Top Talent
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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

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Common Traits and Characteristics – Top Performing Sales Organizations

Data-driven success proves itself time and time again. In an age characterized by disruption and restless competitive threats, gut instinct is a dangerous basis to make decisions on. Now is the time for sales leaders to examine the scientific metrics of a high-performing sales force.

Based on the latest research and hard-earned experience, here are seven characteristics that differentiate highest performing sales teams from the average ones.

1. The best sales organizations hunt on the farm.

It is five to twenty-five times more expensive to gain a new client than retain an existing one. That’s why top sales organizations invest in existing accounts. They maximize account potential by selling to existing clients. This is also referred to as hunting on the farm.

To encourage this focus, top sales organizations adjust compensation plans accordingly. They use comp to motivate their teams to build meaningful relationships with key account stakeholders.

Additionally, the best leaders coach their teams to “go micro”.

Going micro means:

  • learning the micro markets within a territory,
  • knowing where their clients are adding capacity, and
  • where there are opportunities for future expansion.

In top performing sales organizations, reps know which products each account uses. They learn the details of each client. They anticipate potential problems by suggesting useful products that fix or prevent the difficulties that their clients face.

2. Top performing sales organization sell the way their customers want to buy.

Because customer loyalty has dropped 20%, top sales organizations can’t use only one sales methodology. They must be flexible. And that flexibility makes customers 30-50% more likely to become enthusiastic promoters and repeat customers.


  • When the buyer is comfortable with conflict, 64% prefer sellers to challenge their thinking. Top reps alert their clients to the dangers of the status quo.
  • They don’t ask leading questions but instead engage in consultative interactions with the clients.
  • They also engage in solution selling. This allows them to target a client’s pain points and offer an appropriate remedy.

In addition, they capitalize on ease of purchase. They include the right people at the right time. Reps are encouraged to work cross-functionally to maximize the channels through which customers interact with the brand. Reps in high performing sales organizations create a frictionless journey from the initial consideration to the moment of purchase.

3. In top performing sales organization, reps expertly manage their pipelines.

High performing sales organizations train their reps to manage their own pipelines. They hold them accountable for quantifiable, binary results. When the time comes for feedback and quarterly reviews, reps are measured based on their quota.

Companies that have an effective process in place for pipeline management see a 15% increase in profit.

“High performing sales teams think in terms of strategic sales process management, while under performing sales teams are more focused on personal sales prowess,” say Steve W. Martin and Nick Hedges.

High performing sales leaders keep their teams focused on executing their strategic sales goals.

4. Top sales organizations have strict processes.

In Steve W. Martin’s study of 786 sales professionals, half of sales reps from top performing sales organization organizations whose annual revenues increased significantly year-over-year had rigorous sales processes. They were were closely monitored, strictly enforced or automated. Only 28% from under performing sales organizations described themselves as having strict sales processes.

In addition, top sales organizations set stretch goals within their rigorous systems to increase profit. It also allows them create a “superior” experience, something 80% of companies believe they provide, yet only 8% of customers agree. Even though they don’t expect all their reps to meet their quotas, they consistently set higher quotas by up to 50% more year over year.

5. Top organizations know that committees are easily influenced.

In B2B sales, there are an average of 5.4 people on buying committees. The best sellers know how to appeal to an audience. However, they also know that one committee member tends to bully others to their view. In fact, 90% of participants in HBR’s study confirmed that there is one person who sways the buying decision.

Reps from top performing sales organizations are groomed to look for the bully. The committee member is successful at bullying the outcome 89% of the time. In instances like these, top sellers are aware of the group dynamics. They sell not only to the decision-maker, but to the bully.

6. Leading sales organizations are not afraid of market leaders.

The competition does not intimidate top performing organizations. They don’t buy in to the myth that market leaders dominate the demand. They know that 63% of buyers are open to buying from second-tier sellers that deliver equivalent value.

When selling to manufacturing, information technology, human resources, and accounting, top sellers know to tailor those methods to the price conscious needs of those departments. However, when selling to tech, banking, or consulting, they focus on delivering value because those industries are typically not as price sensitive. Fashion and finance, however, prefer to buy from the biggest names in business.

So top organizations don’t fixate on competing with the market leader. They focus on delivering value to their customers.

Selling is a data-driven process.

Instead of relying on gut-instinct, top organizations use tried-and-true methods to drive growth. They hunt on the farm, sell the way their customers want to buy, and accurately forecast their pipelines. They also have strict processes, know that committees are easily influenced, and are not intimidated by market leaders. The best sales organization rely on proven data to track their success.

To learn more about hiring strategies to become a top performing sales organization, click here.

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20 Gifts for Sales Reps to Boost Productivity and Engagement
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Connect:

Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

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21 Ways to Make Your Top Sellers Quit

run running rep sales sale seller quit quitting resign resigning

Keep your churn rates high and your employee satisfaction rates low.

Why put in the effort to keep your top reps happy when you could alienate and push them to work for the competition? Why work to maintain a healthy sales force when you could sabotage them at every turn?

If you’ve run out of ways to push your top sellers out the door, here are 21 tongue-in-cheek ways to make sure they bolt:

1. Cap commission.

High-performing sales organizations consistently attract and retain top sales talent by rewarding them with compensation packages that beat market. One way they do that is uncap earnings. In fact, 79% of sales managers with no compensation cap meet and exceed quota.

sale sales manager managers uncap cap uncapped earn earning earnings exceed quota quotas

Commission caps are the easiest and fastest way to cripple a sales force. It removes the incentive for reps to stay motivated and keep selling once they’ve reached quota.

Steve Richard, CRO of ExecVision, met with a sales rep when the subject of compensation arose:

steve richards

“We were talking about the comp plan and he mentioned that their pay stub showed a ‘commission deduction line.’ It shows the amount of commission earned and then a deduction for earning above the limit for the pay period.

Let me repeat this: this company actually shows reps how they are being screwed (ahem, sorry, ‘capped’) as a line item on their pay stub. I can’t imagine anything more demotivating. ”

Rarely is there an economic downside for a company to pay large commissions if the sales compensation plan is structured to be profitable at any level. Companies sell more when they eliminate barriers that hinder salespeople’s incentives.

2. Frequent changes to the compensation plan.

Changing the rules of the game is the fastest way to frustrate players.

Over the next two years, 60% of companies will make a change to their compensation plans. This is particularly frustrating for reps when it occurs in the middle of a sales cycle. Finding out that their maturing leads and opportunities will result in lower payout than expected demoralizes a team.

If an adjustment is necessary, provide ample notice and communicate the ways that it benefits both the rep and the business.

3. Refuse to compensate reps on certain types of sales.

rep reps align aligned corporate goal goals

If a rep makes a sale that generates desirable profit for the company, compensate them.

Paying commissions only on the sales of certain products and not others, despite both types of sales generating profit for the company pushes your best people out the door. 

The best sales organizations pay the highest commissions for the sales that generate the highest profits, regardless of type of sale or type of product.

Rewarding a rep for every sale that benefits the business aligns them with your corporate purpose.

4. Require reps to book the cheapest travel arrangements.

Time is your salespeople’s most valuable and scarce resource. Cheap travel arrangements can take a long time to find, which not only chips away from important selling time, and but leaves reps in poor selling condition. 

Every dollar strategically invested in business travel correlates with an increase in $20 of additional gross profit, according to an analysis of 900 public companies over an 11-year period. When reps aren’t focused on saving money when they travel, they can focus on making money when they arrive.

5. Penalize the sales team for poor post-sales delivery.

Penalizing the team for post-sales delivery is a distraction from making salesThe best companies keep reps focused on delivering sales results by rewarding consistently excellent performance.

strong lead leader leadership foundation foundations foundational health healthy sale sales force

Not all reps have the same post-delivery style: 36% of salespeople report that they feel personally responsible and dedicated to a customer’s success and 26% report cordial but less personal relationships, citing busyness on both ends. Only 22% take a hands-off approach.

Salespeople have varying approaches to post-sales relationships with clients. As long as reps are making sales and maintaining healthy post-delivery relationships, however involved, the desired result is achieved.

6. Fail to provide innovative product and service offerings.

Excellent reps need to sell excellent solutions. They are not satisfied selling ‘me too’ offerings. Top performing sales organizations need to provide products that solve big problems for customers. Otherwise, they risk losing their reps to competitors who develop truly innovative products

7. Keep poor performers on board.

If hiring strong salespeople sounds expensive, speak to any business leader who has ever built a team of mediocre salespeople. Underperforming sales reps drain financial resources, strain managerial resources, and damage brand reputation in the marketplace. It can be tempting to fill an open seat quickly. Resist the urge.

Take charge of your company’s future and don’t tolerate consistently missed quotas. Fire poor performers quickly.

In fact, high-performing sales organizations are quicker to terminate — 18% of them fire mediocre reps after just one quarter, compared to 5% of under-performing organizations. Within the span of a year, 78% of high-performing sales organizations will fire under-performers. That number drops to 52% for under-performing sales organizations.

If someone is not a good fit, give them the opportunity to find somewhere where they will thrive. Don’t needlessly cause your team to suffer.

8. Refuse to leave your office.

Managers can’t lead from an ivory tower. Successful managers are fully engaged with customers to discover their needs and are connected with their team. Reps need to see managers on the sales floor with them, modeling the right behaviors and attitudes. This removes the opportunity for reps to harness resentment. 

There’s nothing more frustrating than taking direction from a leader who is out of touch with the realities of the team. The best sales leaders leave the office and invest time developing relationships with customers and employees because it builds trust.

9. Prioritize non-selling activities.

If the consequences for not updating the CRM are heavier than they are for underperforming, your leadership priorities are mixed up. Refocus on the basics of sales. Don’t weigh down your reps with paperwork.

Mike Weinberg, best-selling author, writes in New Sales Simplified

mike weinberg

“There are too many salespeople who are more proficient at entering tasks into Salesforce.com than they are at executing the basics, like telephoning a prospect to secure a meeting. Unfortunately, much of the blame rests with sales managers who are more concerned that their people keep the CRM system updated than they are with whether they can effectively sell.”

Focus is critical for your reps to achieve results. Transfer activities like updating CRMs, pulling reports, and creating sales enablement materials to sales support. Your sales reps are best qualified to be generating profit, not doing paperwork.

10. Take credit for your rep’s success.

Taking credit for a rep’s work is one of the fastest ways a sales leader can frustrate their team. Sales managers succeed when they lead their team to victory, using wins as opportunity to reinforce excellent selling behaviors and activities.

give giving rep reps credit success successes invest investment future

Top sales people are motivated by recognition. Celebrate their work and highlight their accomplishments at all-hands meetings, smaller team calls, and in front of company executives.

11. Step in to take over accounts reps have worked hard to acquire and develop.

Allow your reps to be responsible for their own work. Chuck Blakeman, business advisor and founder, writes:

chuck charles blakeman “Ownership is the most powerful motivator in business and the ability to make decisions is at the core of ownership. Stop solving and deciding for others[…] You, your company, and everyone who works there will all be better off if you do.”

Reps who maintain ownership of a prospect from nurture stage onward stay motivated to close them.

If a manager steps in to take over a rep’s account, however, that ownership is disrupted. This gradually erodes the rep’s confidence and threatens to weaken their ability to sell longterm.

Managers should leave the selling to their reps. Companies with a well-developed sales process are able to trust their reps to be accountable. Managers can use weekly one-on-one time to stay updated on the status of projects, only getting involved when appropriate. The best sales talent will not stay at a company to be hand-held.

12. Focus on hours instead of results.

activity activities count matter generate generates profit profits revenue

Results are what matter. Excellent reps thrive in an environment their performance is evaluated based on measurable business objectives. It can feel frustratingly irrelevant when a sales leader places too much attention on a rep’s hours, busywork, and physical time spent “in the seat.” 

 Micromanaging your team removes their drive to perform. To keep top sales talent, set clear expectations for success and keep performance measurements focused on those results.

13. Undervalue corporate culture. 

corporate culture inspire hearten dishearten discourage rep reps sales b2b

The pressure sales reps face can be disheartening at times. A healthy corporate culture reduces pressure, and instead recycles and plays to rep’s competitive intrinsic motivators. When reps amicably compete against one another, they are motivated to sell more and close bigger deals.

Top performing sales organizations know that they are built on corporate culture. They handle challenges with integrity and treat them as an opportunity to grow. This breeds transparent leadership and allows reps to have a realistic view of their organisation, promoting an all-around strong sales culture that top reps are happy to be a part of. 

14. Focus on the negative.

Rejections rack up on a daily basis in sales. But a team’s success depends on its ability to soldier forward in the face of this reality. Sales leaders need to consistently encourage their reps by acknowledging and celebrating progress.

zig ziggy ziglar

The key is in the small wins. Every victory has a strong positive effect on a worker’s motivation and their ability to tackle difficult work challenges. Sales leaders must celebrate their small successes to keep the team motivated. Zig Ziglar said,

People often say that motivation doesn’t last. Well, neither does bathing—that’s why we recommend it daily.”

So be the cheerleader that distracts them from their daily rejections and help keep the office a positive place to be. Track daily and weekly wins. Keep a pulse on small positive metrics like leading indicators. Publicly acknowledge progress and remind your team of its overarching mission on a regular basis to stave off the negativity that will send top reps running for the hills.

15. Avoid coaching opportunities.

Not only does coaching benefit the company’s revenue, it is a retention tool that is directly linked to job satisfaction

A survey of over 2,000 sales professionals found that reps who received more coaching than others were twice as likely to recommend their role at their company to a friend. In other words, they were “promoters,” using the standard satisfaction measure of NPS (Net Promoter Score).

An important note is that there is a disconnect between how much coaching a rep feels they receive and what a manager thinks they provide. Managers survey reported that they provide an average of 3.9 coaching hours per rep per months, while reps reported receiving 2.2 hours. That’s a 40% discrepancy.

sale sales coach coaching hour hours hbr

Bear this in mind as you coach your reps.

Excellent sellers want to grow and improve and therefore, need leaders to build into them. Managers must provide this support to their teams if they want to keep their top sales talent.

16. Fail to invest in marketing and brand building programs.

Billions of dollars are spent on B2B brand equity. Problematically, despite the immense budget, it found that managers are not focusing enough effort internally on active brand building.

That is an expensive mistake. Top reps want to work for companies who are mindful of their brand positioning and manage their reputations well. Corporate branding is responsible for 7% of stock performance and the best forty brands outperform stock index MSCI world index by 73%

There are two primary ways to invest in brand. They are internal branding and brand recognition. Internal branding sells your brand to your employees so that they will become promoters to their networks. Market your brand to your employees internally by having:

  • a mission statement,
  • an ambitious, long-term vision,
  • a clear set of action values, and
  • persuasive, on-brand collateral.

When your employees buy in to your brand, they become brand ambassadors to their networks.

Take full advantage of these methods to connect with your audience online and offline to spread brand awareness or risk losing your top selling reps.

17. Pay commissions late.

Ensuring reps can see an immediate connection between their positive activities and their commissions is the best way to reinforce the right selling behaviors and keep them loyal and productive.

It can be demotivating for a top rep to deliver a great sale and not receive commission when it’s due. According to Mark Roberge, who built the sales team at HubSpot, the rewards must be immediate

mark roberge “When salespeople succeed, they should see it reflected in their paychecks immediately. When they fail, they should feel the pain in their paychecks immediately. Any delay between good (or bad) behavior and the related financial outcome will decrease the impact of the plan.”

When direct return or loss can be felt instantly, the motivating effect is potent. Capitalize on this to drive your reps to succeed.

18. Fail to equip them with best practices and resources.

Talented reps don’t want to spend their time developing resources and reinventing the wheel. Support them with high quality reference materials, sales enablement collateral, value proposition talking points, and anything else that will make them sell better faster.

important importance formal sale sales process

Even the best salesperson’s performance dips in the absence of a well-structured sales process. Equip them with best practices, training, and resources. Research shows that high performance companies are twice as likely to have structured sales process and businesses that want to help their sales reps reach full potential need to support them in this way.

The time they spend creating resources is time they are not on the phone booking meetings and closing deals.

19. Ask reps to lie to customers to close more business.

Top sales talent values integrity. The best sellers believe that trustworthiness, professionalism, follow-through, product knowledge, and enthusiasm are what customers value most about them. A survey of high-performing salespeople overwhelmingly shows a preference for the truth with 70% of reps preferring to be honest rather than embellish.

ask asking rep reps lie liar lying drive jeporadize jeporadizes trust motivate motivation b2b

Reps stay intrinsically motivated when they believe in their mission and ability to match prospects with a truly good-fit solution. Lying to customers is a lose-lose proposition.

Customers will lose trust in the company and churn. Reps lose their most basic and powerful reason to sell which is faith in the product. On top of this, managers that compel a rep to lie will simply alienate their team and lose top talent.

20. Force reps to attend too many internal meetings.

Time spent in meetings is time that reps could be sellingBefore inviting your sales team to a meeting, seriously consider whether or not it’s essential to have them there.

If it’s not essential, don’t have them sit in. If you absolutely must include them, make sure that you have a clear and specific agenda. Move through it quickly and systematically. The best thing you can do for your reps if they must absolutely be in the meeting is provide the maximum amount of information in the minimum amount of time. Get them in and out as fast as possible.

Instead, begin each meeting with an agenda.  It is critical to stick to the agenda once it has been set. Weinberg has outlined a list of possible agenda items:

  • personal updates
  • company vision
  • results review
  • product training
  • success stories
  • deal strategy
  • sales training/ coaching
  • business plan presentation
  • celebrate
  • sales wish list
  • marching orders
  • takeaways

These items provide a springboard for discussion while keeping the focus on business and are a starting point for anyone who wants to make their meetings less painfully unproductive.

21. Suggest or imply that selling is the easy part of a company’s success.

Sales reps are the driving force of a company’s growth. It’s critical that managers tie their team’s role into the bigger picture.  Suggesting that sales is the easy part of a company’s success undermines your reps desire to succeed. Poor managers fail to validate the many positive ways they influence the company:

rep reps direct line contact customer customers matter most b2b sale sales sell

  • They drive revenue. This revenue translates into the ability to grow the company into new markets, further pursue its mission, pay salaries, and benefit investors and shareholders. 
  • They face rejection daily. The best ones get back up and continue selling. It can be easy for managers to lose sight of the challenge that is being a salesperson.
  • There are also less tangible ways that talented reps influence the company as a whole. Reps have a direct line to customers, who are the people that matter the most.
  • Sales represents the brand. They connect the dots to solve people’s problems. They listen to customer needs and communicate them up through the company.

There is no doubt that they are a key frontline component and to suggest anything less is a big mistake. Underappreciating the sales team is not only detrimental to growth and success at a team level but could be fatal at a company level.

These mistakes could cost you your top selling reps.

If you find yourself doing anything on the list above, stop yourself immediately. None of these items are worth risking the resignation of salespeople you have developed.

The investment you make in your sales team is too valuable to lose.

Like what you’ve read? To learn more about hiring strategies to build a top performing sales team, click here

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Connect:

Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

10 NYC Tech Companies You Should be Watching If You’re in Sales

New York

For tech startups, there may be no better location than New York City.

NYC has a long history of attracting people who dream big and chase success, and that certainly still rings true of entrepreneurs today, especially those in e-commerce, sales, finance and technology innovation.

As Glassdoor notes, “there’s no city quite like New York. Uptown to Downtown, Brooklyn to the Bronx, Staten Island to Queens, the boroughs are filled with hard working people chasing their dreams. “ Or, more specifically, dream jobs.

If you’re in sales, up-and-coming tech companies should be on your radar. Why? When you work in a large enterprise in New York, it’s highly likely that your path will cross one or more of these startups as they gain traction and flourish – whether as a potential client or a potential employer.

If you’re a sales leader on the lookout for your next career move, here are 10 tech companies in New York City that you need to be watching. Dynamic and disruptive, these ten startups are combining innovative vision with growing investor support to create significant impact in the market.

 

Invision 100x100

Invision

https://www.invisionapp.com/
https://www.invisionapp.com/company#jobs

InVision is the Digital Product Design platform used to make the “world’s best customer experiences.” The company provides design tools and educational resources for teams to navigate every stage of the product design process, from ideation to development. Today, more than 3.5 million people use InVision to create a repeatable and streamlined design workflow; rapidly design and prototype products before writing code, and collaborate across their entire organization.

Industry: Internet – Digital Product Design Platform

Companies in this industry

Industry Outlook: Digital product design is still a relatively new field of expertise. As a career, digital product design began with personal computers in the 1970s but has evolved drastically due to the explosive popularity of smartphones and app stores beginning in 2007. Today, digital product design is scaling rapidly. Leaders in this industry know how to leverage technology alongside their teams to design well-crafted experiences that won’t break or cause harm when utilized at the furthest edges. Companies in this industry are designing at a global scale. A foundation of training is emerging for digital product designers, taught by those who have come before (Google, Facebook, Apple, Amazon, Salesforce, etc.) – from basics of tools designed to create infinitely scalable interfaces to developing critical empathy skills for the consumers who will use it.

Growth stage: Series D

Selling tools available: Free trial for lead generation, product tours.

Awards Received: Named one of the Top Company Cultures of 2017 by Entrepreneur and CultureIQ – February 2017
Best Places to Work in 2017 from Glassdoor (#21)
Forbes Cloud 100 List, Forbes, 2016
Fast Company Innovation by Design Finalist for Apps, Fast Company, 2016Best Prototyping Software, G2 Crowd, 2016

Funding: $235,200,000 raised in 7 rounds from 12 investors

Employee perks

Work in an environment that you’re comfortable in (and enjoy Starbucks beverages on the company)
Medical insurance with broad personal coverage
Free gym memberships
Generous equipment allowances and conference/travel budgets

Glassdoor reviews

Ratings: 4.7 stars… 89% recommend to a friend. 86% approve of CEO.

“This is the most talented group of people I’ve ever worked with. Thoughtful, smart, and there is a culture of humility and empathy that fits really well with who I am and my work style.”
“InVision is truly design-centric and a visionary in the industry. You’re encouraged to be your authentic self, measured by the work you put in, and have opportunities to challenge yourself and grow.”

 

Conductor 100x100

Conductor

https://www.conductor.com/
https://www.conductor.com/careers/

Conductor is an organic marketing company. Its content intelligence platform, Conductor Searchlight, generates customer intent insights that lead to compelling content, increased traffic and higher organic marketing ROI. With Conductor, marketers can continuously measure and refine SEO and other content marketing efforts, based on insights drawn from the search rankings and performance opportunities.

Industry: Internet – SEO Platform & Enterprise Content Marketing

Industry Outlook: The convergence of SEO and content marketing has been a topic of conversation for many years, and now the fusion is finally happening. In the digital marketing ecosystem, all roads lead to the website and branded content. Marketing channels impact conversion, so creating a unified message across all departments is vital. Just as content marketers must understand the technical aspects of SEO, they must also understand and adhere to new creative ways to build and amplify their content, build processes and cultures of content in order to implement integrated and scalable content marketing plans.

Enterprise Content MArket

Predictions: According to Gartner, the Enterprise Content Marketing market saw an 8% growth from 2015 to 2016, with global revenue up to $6.1 billion from $5.6 billion. It’s predicted to reach $9 billion in 2018. Industry predictions also include a massive pivot to Cloud; the emergence of AI and machine learning to better describe content and to enable CSPs to be more predictive and accurate in the way that they deliver content to knowledge workers; and continued demand for contextual information coupled with evolving approaches to interacting with content.

Growth stage: Series D

Selling tools available: Training, Product tour/Demo request for lead generation, Marketing collateral: client case studies, company “learning center”.

Awards Received: Named one of the Best Places to Work in NYC by Crain’s – November 2017
Ranked #4 Best Company to Work for in New York for the 9th year running – 2018
Ranked #38 by Inc. Magazine in its Fastest Growing Private Companies list
Recognized as one of the Best Places to Work in America for six years running
Conductor Searchlight received a High Performer badge in the Fall 2017 SEO Grid® Report

Funding: $60 million+ raised in 3 rounds by 6 investors (Matrix Partners, FirstMark, Investor Growth Capital Limited, Blue Cloud Ventures, Catalyst Investors)

Employee perks

Unlimited vacation time
Energizing environment, including a communal kitchen stocked with nutritious snacks, monthly “Flap-Jack Fridays,” and multiple diversions like scooters, beanbags, and nerf wars.
Quarterly activities such as go-karting, karaoke, picnics and scavenger hunts.
All “Conductors” encouraged to take 2 days off work to get involved in the charities they feel most passionate about.
The Conductor Foundation (the company’s non-profit arm) offers opportunities throughout the year to give back, including the Quarterly Conductor Cares Charity Challenge and the many pro bono customers accepted annually.

Glassdoor reviews

Ratings: 4.8 out of 5 stars. 93% recommend to friend. 99% approve of CEO

“The company is a complete meritocracy in that if you have a great idea with a sense of direction, you’ll be given the tools necessary to realize that idea in earnest. There’s no ego, and everyone is willing to collaborate to contribute to the overall good of the company.”

 

Conductor NYC office

 

Pipedrive 100x100Pipedrive

https://www.pipedrive.com/
https://www.pipedrive.com/en/jobs

Pipedrive’s roots are in direct sales. As sales managers and trainers, two of the co-founders experienced an increasing amount of pain with CRM software. Without a good solution for managing the company’s sales pipeline, they teamed up in 2010 with talented developers to create Pipedrive. Pipedrive is a sales management tool designed to help small sales teams manage intricate or lengthy sales processes. It also sports built-in forecasting, integrations with other software such as Google Apps, MailChimp and Zapier and a powerful API for those that like to “roll their own” software solutions.

Industry: Computer Software

Industry Outlook: Over the past three decades, CRM has vastly improved the measurement and reporting capabilities of the sales function. Today, every sales force has some type of CRM tool which generates dozens of management reports. However, this increased access to data has not been accompanied by a corresponding increase in control over sales performance. Despite an abundance of numbers, executives often lack a framework they can use to consistently pinpoint problems and proactively manage salespeople to higher performance. Pipedrive is currently one ofExecutives lack a framework the main leading players in the Lead Management Software market. The market competition is constantly growing higher with the rise in technological innovation and M&A activities in the industry. Additionally, many local and regional vendors are offering specific application products for varied end-users. The new vendor entrants in the market are finding it hard to compete with the international vendors based on quality, reliability and innovations in technology.

Growth stage: Series B

Selling tools available: Affiliate partner program/Expert program, CRM platform, Free trial for lead generation, Two-week email sales course called Pipeline Academy.

Awards Received: Best Enterprise SaaS B2B Startup from The Europas
Best Employer in Estonia in 2016
2017 SalesTech Award
Named by Inc. 500 as the 204th fastest-growing company in America

Funding: $17 million

Employee perks

Free snacks and drinks
Monthly lunch with CEO
Health/dental/vision insurance
401K, bonus and stock options
Commuter discount

Glassdoor reviews

Ratings: 4.3 stars out of 5, 81% recommend to a friend, 100% approve of CEO

“Pipedrive values people and makes all possible to create comfortable conditions for them. It is a mature company which has pretty clear structure but at the same time teams are very flexible. Management tries to be as transparent as possible.”
“The company culture is great – people feel involved and purposeful.”

 

Pipedrive NYC office

 

 

 

Sisense logo Sisense

https://www.sisense.com
https://www.sisense.com/careers/

Sisense simplifies business analytics for complex data, giving business users the ability to freely prepare, analyze and explore their data, without relying on a patchwork of tools or extensive IT assistance – even, and especially, in complex scenarios. Sisense’s revolutionary business intelligence software tools are used by thousands of users around the world, in companies ranging from Fortune 500s to innovative startups.

Industry: Computer Software, Business Intelligence (BI)

Industry Outlook: Toward the end of the 20th century, the term business intelligence (BI) gradually earned popularity among most modern-day enterprises. High levels of competition in the business arena have raised the need for an analytics-oriented system that can enhance their capabilities to reinvent and modify information they already possess. Geographically, North America is the leading market region in terms of market revenue share, due to increasing focus on innovations, research and development in manufacturing analytics technology, and stable economic growthNorth America in US and Canada.

Predictions: The global manufacturing analytics market is expected to rise with a CAGR of 22% during the period between 2017-2024. The key factors driving market growth are emergence of industrial internet of things, increased business agility and scalability, adoption of advanced data management strategies and surging demand for process optimization. Complex system structure and lack of integration with legacy systems are expected to restrain the market growth. Rising cloud adoption trends and increasing demand for real-time streaming analytics are expected to provide lucrative market opportunities.

Growth stage: Series B

Selling tools available: CRM, 90-minute “Test Drive,” Lead generation with Demo, Client case studies, Free white paper for email list-building.

Awards Received: Ranked 8th in Deloitte’s Technology Fast 50 list, 2015 and 2016
Named a Visionary in the 2018 Gartner Magic Quadrant
Awarded a Bronze Medal for the Stevie American Business Awards, Company of the Year in Computer Software
Named one of 100 Companies that Matter Most in Data by Database Trends Applications Magazine
Named to 10 “coolest New York-based enterprise startups” by Business Insider in 2014

Funding: $50 million

Employee perks

Mandatory long weekends called “Coming Up for Air”
Free lunch/snacks
Performance bonus
Health insurance/retirement plan
Autonomy and flexibility to work from home

Glassdoor reviews
Ratings: 3.8 out of 5 stars, 69% recommend to a friend, 85% approve of CEO

“Sales quotas are achievable and the compensation is highly competitive.”
“They take care of their employees. Sisense does whatever they can to ensure their employees success. There is no micromanaging. They effectively and efficiently use their CRM and other tools. Compensation is great. You are selling a best in market product. They are transparent with employees and treat them with respect.”

 

SiSense NYC office

 

EcoVadis 100x100EcoVadis

https://www.ecovadis.com/
https://www.ecovadis.com/joinus/

EcoVadis operates the first collaborative platform providing Supplier Sustainability Ratings for global supply chains. Combining “People, Process and Platform,” EcoVadis has developed the industry-leading team, innovative technology, and a unique CSR assessment methodology that covers 180 purchasing categories, 150 countries and 21 CSR indicators.

Industry: Software and Consulting – Sustainability Ratings and Scorecards Ecological and social factors

Industry Outlook: A pressing demand for education and guidance has grown from companies who seek to contain risk and create value through driving sustainable procurement and supply chain performance. In addition to financial criteria, investors increasingly include ecological and social factors in their investment decisions. Continued efforts to advance corporate sustainability have benefited from a wide range of collaborative initiatives spanning the public, private and nongovernmental sectors.

Growth stage: Venture

Selling tools available: Training, Demo request for lead generation, Marketing collateral: website video, guide to sustainable procurement, downloadable CSR scorecard.

Awards Received: Named a 50 to Know Company from Spend Matters in 2018
Named a finalist in the World Procurement Awards

Funding: $35.8 million raised from 1 investor

Employee perks

Health, dental, vision insurance
Ability to work from home or do reduced schedule/flexible hours
Commuter checks/assistance
Company social events
Geo-mobility and office exchange
Community days

Glassdoor reviews
Ratings: 5.0 out of 5 stars, 100% recommend to a friend, N/A approve of CEO

“Great culture! Fast-growing company… with an multinational team of people passionate for Sustainability is incredible. The management is very trustworthy and transparent.”
“It feels great to be a part of an organization that is making a global impact on sustainability within the supply chain.”

 

HyperScience 100x100HyperScience

https://www.hyperscience.com/
https://www.hyperscience.com/careers

HyperScience is a machine learning company focused on building enterprise-grade AI solutions for automating office work. The company’s mission is to “automate low, medium and high-skill office work to help customers do their jobs better, faster and cheaper.” HyperScience builds products that are drop-in replacements for existing manual business processes without lengthy integration periods or steep learning curves.

AI and business

Industry: AI Automation Solutions

Industry Outlook: AI is transforming all industries. CEOs agree that AI will impact every facet of business, offering unprecedented ways to innovate and grow – with 72% reporting that they believe AI is a business advantage for the future. 54% of executives say AI solutions implemented in their businesses have already increased productivity, according to the PwC Consumer Intelligence Series.

Predictions: The value of AI in 2018 is found in empowering current employees to add more value to existing enterprises. That empowerment is coming in three main ways: automating processes too complex for older technologies, identifying trends in historical data to create business value and providing forward-looking intelligence to strengthen human decision.

Growth stage: Series A

Selling tools available: Web examples of forms, Demo Request for lead generation, emails leads and tracking through updates for EXTRACT product.

Awards Received: N/A

Funding: $18 million raised, 6 investors in most current investment round

Employee perks

Lunch and mid-afternoon snacks delivered daily
Comprehensive medical and health coverage
Choice of hardware
Gym membership
The ability to change the landscape of office work

Glassdoor reviews

Ratings: 5.0 out of 5 stars, 100% recommend to a friend, N/A approve of CEO

“Machine Learning, applied to big problems. Very smart team from diverse backgrounds. Great compensation. Talented and innovative and experienced leadership. Top-notch perks. Collaborative environment.”

 

Ui Path logo 100x100

UiPath

https://www.uipath.com/
https://www.uipath.com/jobs

UiPath’s mission is to eradicate repetitive tasks through intelligent use of software automation. The company specializes in robotic process automation, leveraging computer vision to operate the user interface layer of software more efficiently and accurately than human users. Clients include big four accounting firms like Deloitte, EY, and PwC, which use UiPath to automate redundant processes internally and for clients. UiPath’s services have also been used by manufacturers to automate inventory management and supplier communications.

Industry: Artificial Intelligence – Robotic Process Automation

Industry Outlook: Robotic process automation is an emerging form of business process automation technology based on the notion of software robots or AI workers. The concept has been around for a long time in the form of screen scraping, but robotic process automation is considered to be a significant technological evolution of this technique in the sense that new software platforms are emerging which are scalable and reliable enough to make this approach viable for use in large enterprises. The top test automation tools and frameworks have the potential t

Agile MEthodologies

o help organizations to best position themselves to keep pace with the trends in software testing.

Predictions: In the World Quality Report 2017–2018 by Capgemini, Sogeti and Micro Focus, key trends include increasing test automation and widespread adoption of agile and DevOps methodologies. The report points out the need for organizations to have intelligent automation and smart analytics to speed up decision making and validation and to better address the challenges of testing smarter devices and products that are highly integrated and continuously changing. The report also suggests the need of smart test platforms that are self-aware and self-adaptive to support the complete application lifecycle.

Growth stage: Series B

Selling tools available: Enterprise RPA Trial, Training and professional development, Partnership programs: service, technology, resellers, resource, and official training partners.

Awards Received:· Winner of HfS 2017 RPA Blueprint
· Named RPA Technology Leader and Star Performer from Everest Group FIT Matrix, 2017
· Named RPA Industry Leader from Forrester Wave Robotic Process Automation, 2017

Funding: $153 Million in Series B funding

Employee perks

Health and life insurance/flexible spending account
Maternity/Paternity Leave
Free lunches/snacks
Work from home options
Performance Bonus and stock options

Glassdoor reviews

Ratings: 4.8 out of 5 stars, 94% recommend to a friend, 100% approve of CEO

“ It’s incredibly exciting to be at UiPath. You’ll never be bored because aside from the client work (which includes Demos, POCs and Support) you are also encouraged to work on internal initiatives. If you are a hard worker and a self-starter you can really succeed here.”
“The company is growing at an unprecedented rate, and I genuinely enjoy my day-to-day job. The culture is open and collaborative and the CEO fully believes in the UiPath mission.”

 

DataMinr

https://www.dataminr.com/
https://www.dataminr.com/careers

Dataminr turns social media into real-time, actionable alerts. Recognized as one of the world’s leading businesses in AI and Machine Learning innovation, Dataminr is pioneering groundbreaking technology for detecting, classifying and determining the significance of public information in real time. Dataminr discovers high-impact events and critical breaking information instantly, with solutions for Corporate Security, News, the Public Sector, and Finance that are relied on 24/7 by thousands of clients in over 70 countries.

Industry: Enterprise Software & Network Solutions

Industry Outlook: Over the years, the enterprise software sector has attained maturity to a very great extent. New enterprise software firms are coming up in large numbers across the globe. However, en route to progress, making enterprise software adaptive to market changes still remains a daunting task for entrepreneurs in the sector.
The two mature verticals for Dataminr are public sector entities and finance firms such as hedge funds. Both industries highlight the Dataminr value prop.Enterprise Software

Growth stage: Series D

Selling tools available: Website lead generation, Email tracking/email newsletter, Demo request, Marketing collateral: case studies, infographics, reports, videos and webinars.

Awards Received: AI 100: The Artificial Intelligence Startups Redefining Industries, CB Insights, 2017
Forbes Cloud 100 List, Forbes, 2017
Deloitte’s 2017 Technology Fast 500™, Deloitte, 2017
Forbes FinTech 50, Forbes, 2016
CNBC’s Disruptor 50 list in 2014 and 2016
AlwaysOn Global 250 Top Private Companies list

Funding: $180 million raised from 60+ investors

Employee perks

100% covered health insurance
Daily catered lunches, endless snacks and cold brew coffee on tap
Team-driven and collaborative culture
Company outings like Star Wars movies and Happy Hours
Recreational clubs and a fitness subsidy

Glassdoor reviews

Ratings: 4.2 stars out of 5, 80% recommend to a friend, 74% approve of CEO

“Working on the cutting edge of information discovery with intelligent, motivated people. Good compensation and perks make you feel like your work is valued.”
“We have a significant impact on the world, as our clients are using Dataminr to find critical and breaking news in real time. Amazing company culture and there are a lot of employee engagement events which gives you an opportunity to mingle with members of different teams.”

 

Dataminr NYC office

 

SevenRooms 100x100SevenRooms

https://sevenrooms.com/
https://sevenrooms.com/en/careers/

SevenRooms is an all-in-one platform for hospitality management. From reservations to marketing efforts, the platform ensures better business practices and guest relations. Founded in 2011, SevenRooms’ reservation, seating and guest management platform gives operators the tools they need to develop direct relationships with guests, boosting revenue and enabling personalized service and marketing.

Industry: Computer Hardware & Software

Hospitality software market

Industry Outlook: A rise in cloud integration is driving growth in the hotel and hospitality management market. According to BusinessWire, hotels usually spend approximately 10% of their total budget on strategies and solutions that help them maintain and retain their frequent customers. Hotel and hospitality management software lowers the dependency on manual record maintenance, which increases the overall efficiency. Hotels and resorts are gradually deploying this software to eradicate inadequacies and accelerate the overall process efficiencies.

Predictions: According to Technavio analysts, the global hotel and hospitality management software market will grow at a CAGR of almost 9% between 2018-2022. The reduction in overall operational costs is a major factor driving the market’s growth.

Growth stage: Series A

Selling tools available: Demo Request for lead generation and email tracking, client case studies available for download.

Awards received: Best Hospitality Technology, NYC Hospitality Alliance Awards 2017

Funding: $4 million+

Employee perks

Health, dental, vision, life, disability insurance
Mental health care
Performance Bonuses
Ability to work from home, flexible schedule
Paid gym membership
Company social outings
Pet-friendly workplace

Glassdoor reviews

Ratings: 4.8 stars out of 5, 96% recommend to a friend, 100% approve of CEO

“My two years at SevenRooms have been the two most exciting and intellectually stimulating years of my professional career. There is never a dull moment, never a day when I don’t learn something new and always incredible people to learn from and work with.”
“Working at SevenRooms allows me to help solve complex problems for our clients and work with an incredible team of smart, nice people to build the cutting-edge product. I walk into work every day excited for the challenges ahead.”

 

Troops 100x100Troops

https://troops.ai
https://troops.ai/careers/

Troops is building intelligent software to help millions of people automate key workflows, eliminate busy work, and bring insights to make work easier. Troops is a Slackbot for sales teams, making it easy to use CRM data to do your job. Troops lets you instantly push and pull CRM data in and out of Slack, turning it into the sales hub for both you and your team.

Industry: Enterprise Software & Network Solutions

Industry Outlook: Workflow and Content Automation (WCA) is a new enterprise software category for automating business workflows, document processes and transactions.

workflow management

Workflow management software helps companies to manage and automate their standard processes; they are evolving to become more human-centric with less programming. WCA solutions accelerate how quickly information flows between enterprises, people, and important business systems to accelerate process cycle times and increase accuracy.

Growth stage: Series A

Selling tools available: Free trial with email lead generation, Overview Demo Video, Demo Request, Slack integration.

Awards Received: Bloomberg’s list of 50 most promising startups (out of a field of 50,000 companies)

Funding: Most recent round was $7 million from 7 investors

Employee perks

Unlimited vacation
Product ownership
Flexible Work Schedule
Outings, happy hours and parties
Paid medical insurance

Glassdoor reviews

Ratings: 5 stars out of 5, 100% recommend to a friend, N/A approve of CEO

“ They encourage their employees to express themselves…you come as and are accepted as who you are. The culture is a product of the employees, not something management dictates from the top. Everyone strives to make everyone else better and quality of work is high.”

 

Unique benefits, competitive salaries and the chance to be part of a startup making waves in its industry – not only are these companies working well, but they are companies that employees actually want to work for.

These are some of the tech startups in NYC that we’re keeping our eye on at Peak Sales Recruiting…Which companies would you add to our list?

Curious to see what other NYC opportunities are available? Explore Peak’s Career Portal for a current list.

 

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A Statistical Look at Toronto’s Sales Hiring Landscape

Consistently ranked among the best places to live in the world, not to mention the largest city in Canada and commercial heartland of the country, Toronto also offers a strong business environment for employers to build their sales teams and for sales talent to advance their careers. This has created an evolving sales hiring landscape that is pitting established and growing companies from the city’s major industries against one another in their search for top performing salespeople.

In this article we examine the sales profession in Canada’s largest city, including how Toronto’s economic growth, start-up community, and educational institutions are affecting the sales talent pipeline and driving employers to pay wages at unprecedented levels.

The Toronto Landscape – An Overview:

Toronto is truly an international city. Of the more than six million inhabitants, half the population was born in another country. Significant portions of the city’s population speak Cantonese and Mandarin, Italian, Punjabi, Spanish, Portuguese, and several other languages. The city is also strategically located on the Northeastern seaboard, with easy access to other financial capitals such as New York, Boston, Chicago, and Washington, all within a 90-minute flight. This international mindset influences everything about the city – from its cuisine to cultural activities.

The city also has plenty of homegrown pursuits, including the annual Toronto International Film Festival, world-class museums, including the Royal Ontario Museum, professional sports teams, like the Toronto Raptors, world-class shopping along Bloor St. and plenty of nightlife to keep people busy in their spare time. This unique combination has set the city up as an elite business centre where companies and their employees thrive.

The city has emerged as the second largest and fastest growing financial centre in North America and, according to the World Economic Forum, is home the world’s safest and most secure banking system. The Toronto Stock Exchange (TSX) is the world’s largest exchange for mining and oil and gas, and the leader in cleantech listings. The TSX ranks first in the world in number of new listings, second overall globally in the number of companies listed, and second in North America in the number of technology companies listed.

As one of the most diverse economies in North America, Toronto is home to companies from almost every major vertical. More than 200,000 people work in over 13,000 technology companies, while the city lays claim to one of the largest biomedical and biotech clusters in North America, with over 50,000 people working in more than 800 companies. Greater than 36,000 employees work in 1,700 renewable energy and cleantech companies, while more than 251,000 employees work in the financial services sector.

Taken together, Toronto’s position as a leading cultural hub, its impressive array of companies, and its workforce offer a compelling combination for both sales professionals and the companies looking to hire them.

Growth in Greater Toronto:

As a place to conduct business, Toronto positions itself as one of the best in the world. According to the PricewaterhouseCoopers “Cities of Opportunity” study, the city ranks fourth among the top global cities like London, New York, and Singapore. In addition, the Economist Intelligence Unit (EIU) ranked Toronto as the best place to live. In particular, the EIU gave the city high marks for its innovation and intellectual capital and the quality of its business environment. These findings should not surprise business leaders who are evaluating the Toronto market since the Greater Toronto Area (GTA) generates 20 percent of Canada’s Gross Domestic Product (GDP), while the city’s economy grew by 2.7 percent in 2014.

“Toronto’s strengths are already attracting major businesses, start-ups and top talent, creating an innovation hot bed in the city’s South Core and Waterfront districts,” said Ted Graham, innovation leader at PricewaterhouseCoopers. “Enhancing the city’s connectivity to domestic and global markets by better integrating its IT and transportation infrastructure, and embracing new technologies will be key to drive further growth in the city.”

If Toronto is a magnet for people from around the world, it is also attractive to Canadian companies and global companies looking to expand. About 40 percent of company headquarters sites in Canada are based in Toronto and even more in the surrounding area, including Kitchener, Waterloo, Markham and Mississauga. Google Canada’s headquarters (and its mini-golf course, full gym and game rooms) are located right in downtown Toronto and the company recently expanded by opening a new facility in nearby Kitchener. Apple Canada moved its headquarters from Markham to downtown Toronto last year, while Honda Canada is also based in the city.

Although the largest employers in the Toronto area, including the Royal Bank of Canada, Rogers Communications, Manulife Financial, TD Bank and Scotiabank, are all important drivers of the GTA economy, there is plenty of hiring activity among smaller firms looking for the right sales talent to drive growth.

Toronto Start-Ups:

The province of Ontario, where Toronto is located, attracted $708 million in venture capital for 152 deals during the first three quarters of 2015, nearly 44 percent of the $1.6 billion in venture capital invested in Canada, according to data from the Canadian Venture Capital & Private Equity Association. This has created a vibrant start-up scene where some of the worlds most innovate solutions are being developed and sold.

Consider the prospects of Kik Interactive Inc., a private mobile messaging and chat company. The company, which is based in Waterloo, just received a $66 million investment from China’s Tencent Holdings Ltd. Kik Interactive is planning to leverage that relationship into a greater presence in China and to develop the capability to facilitate commerce. Those plans, of course, require the right talent. That is why Kik Interactive plans to double its workforce and why it has also recently created a chief people officer position for the first time to manage that expansion successfully.

Once high-flying Waterloo-based Blackberry has hit a rough patch and has been cutting back its workforce. However, plenty of other technology companies are moving into or expanding operations in the Toronto area to make up those lost jobs. For example, Shopify, an e-commerce company based in Ottawa, has opened a new space in Waterloo for the developers and sales teams of its Shopify Plus e-commerce solution for larger merchants. The company has surged into a market value above $1 billion since it announced a partnership with Amazon, in addition to existing partnerships with companies like Intuit.

Another growing company in the city is Influitive, which provides marketing software to help companies create customer “advocates” who can become effective referral sources. The company, which recently closed on more than $30 million in funding, is planning to add new products and expand into Europe and Asia. To support this growth, the company is also planning to double its workforce to about 200 employees this year. “As more and more companies recognize that customer engagement, experience and advocacy are key to meeting their revenue goals, Influitive has become buried in market demand,” says Mark Organ, the Toronto-based company’s CEO.

Of course, not all growing companies in the Toronto area are involved in information and communication technology. Three clean energy companies in the Toronto area – Pond Fuel, Electrovaya and Celestica – have been named among the leaders of Canada’s clean energy industry. Highland Therapeutics Inc., a pharmaceutical company, is building out its sales and marketing infrastructure as it pivots toward rollout of its new drugs. To support these efforts, the company recently closed on $24 million in funding.

There are hundreds of start-up sales positions in the Toronto area. There are more than 200 sales positions listed on online job boards in the region, while demand for Peak’s services to recruit senior reps and VPs for high-growth start-ups has exponentially increased.

Toronto start-ups have focused on the following hiring criteria when building their sales teams:

  • Achieved sales quota for the past 5+ years
  • 5+ years experience using a CRM
  • 5+ years experience of successfully building and growing a territory
  • Successful experience closing six-figure deals
  • Successful experience working in a entrepreneurial environment
  • Hunter DNA

For organizations looking to build a better sales team in the Toronto area, download our free winning job description templates for VP of Sales, Sales Manager, Account Executive, and Sales Engineer positions.

Finding the Right People:

To fill the sales jobs created by start-ups and more established firms, Toronto employers have to present themselves as great places to work and grow careers. “The Greater Toronto Area (GTA) employers understand that they exist in one of the most competitive employment landscapes in the country,” said Richard Yerema, managing editor of Canada’s Top 100 Employers. “The employers who call the GTA home must ensure that their human resource practices are not only competitive within their industry but also in the wider GTA neighborhood.”

This competition for talent is a key selling point for companies looking to expand into the Toronto area. After all, if there is competition for talent, there is compelling talent to be found and hired. A survey of 105 U.S. executives conducted by Development Counsellors International found that “high-quality workforce” is the phrase these executives most commonly associate with Canada. According to the report, “well-educated” and “quality workforce” was also among the themes most frequently submitted by executives regarding Canada’s advantages for U.S. companies looking to relocate or expand.

However, there is a critical shortage of sales talent in the city. Peak’s recruitment engagements in the city have tripled since 2011. In particular, demand for senior reps selling enterprise software and service offerings has increased by 8% since 2014, while demand for regional territory managers and VP Sales for IT, service, and SaaS firms have increased by 13%.

An educated workforce:

Looking towards the future, more and more talent is graduating each year in Toronto and entering the workforce. The City of Toronto has an average of 24,000 students enrolling annually in one of their eight post-secondary institutions – four universities and four colleges – with over 130,000 students currently enrolled.

The University of Toronto, the city’s largest university, offers bachelor business programs with concentrations in Digital Enterprise Management, Finance and Economics, and Management Studies as well as a Masters of Business Administration program. Maclean’s Magazine ranks the University of Toronto, as the number one business school in the country, with nearby York University coming in at number three. Moreover, Humber College offers a certificate of achievement in professional sales, allowing students to acquire fundamental sales skills and knowledge..

Toronto’s Challenges:

Like other major urban centres, Toronto has downsides that create challenges for both employers and employees. Traffic congestion is an ongoing concern and an aging and under-funded public transportation system is presenting difficulties for suburban commuters entering the city.

Another issue is the cost of housing. Housing prices, especially locations in the city and near public transit, are well above the national average. In 2015, the average sales price for all housing, including single-family homes and condominiums was $622,217, an increase of nearly ten percent from a year earlier. The only thing keeping home sales from growing more last year was the fact that demand for housing outstripped the available supply. As a result, experts predict that some of that ongoing demand that will carry over into 2016/2017. With supply and demand continuing to be out of sync, additional housing cost increases appear to be all but inevitable. “The average selling price is also expected to rise to between $655,000 and $665,000 – one of the highest in Canada – up from $622,217.”

Riding the Escalator in Toronto:

What offsets the challenges of living and working in Toronto and its surrounding areas are the benefits of living and working there. A study conducted for Statistics Canada identified Toronto to be an “escalator region.” “Migration into Toronto is associated with an income premium, such that in-migrants appear to immediately receive an income benefit that exceeds the income benefits associated with migrations to other urban areas, and/or staying,” according to the study. “That is, while migrations to other large, medium or small urban areas are also often associated with income benefits, the benefits of migrating to Toronto appear to be greater. In effect, it would appear that income growth was accelerated by migrating into Toronto – a productivity effect.”

This escalator effect yields benefits to both employers and employees.

Migrants moving to Toronto either from within Canada or other parts of the world have greater opportunities available to them. For sales professionals in particular, migration into Toronto offers net new revenue opportunities since the city is home to the largest cluster or bussiness in the country and is strategically located close to some of the world’s largest markets.

Employers looking to hire these individuals benefit from a much larger, more talented and more diverse labor pool than other cities might offer. “The (Toronto) metropolitan area benefit(s) from high in-migration rates among young labor force migrants, and a corresponding net loss amongst older age groups and at retirement,” the Statistics Canada study found.

This turnover from baby boomers retiring at the end of their careers makes room for new talent to thrive. This circumstance is well illustrated when it comes to sales management positions. A Canadian government analysis, for example, shows that demand for sales managers is likely to exceed the talent supply through 2022 as senior sales leaders retire in these positions at a higher rate than workers in other positions. Below is a breakdown of the industries most likely to be hiring sales managers.

An overall look at the workforce in the Toronto area shows a group of 2.8 million people with experience in a variety of industries. Although manufacturing and retail trade employ the most people, there is are a number of industries represented, including professional services and financial services.

Pay Levels in the Toronto Area:

While pay levels in the Toronto area are not the highest in Canada, they are still in the top three of major cities. As seen in the table below, the median total income jumped nearly 12% from 2009 to 2013.

A broader view of pay levels shows wage growth since the 2008/2009 global recession for Toronto and its surrounding areas.

This turnover from baby boomers retiring at the end of their careers makes room for new talent to thrive. This circumstance is well illustrated when it comes to sales management positions. A Canadian government analysis, for example, shows that demand for sales managers is likely to exceed the talent supply through 2022 as senior sales leaders retire in these positions at a higher rate than workers in other positions. Below is a breakdown of the industries most likely to be hiring sales managers.

Data from Environics Analytics provides a clearer picture of income levels by breaking it down into five equal segments.


Statistics Canada provides a breakdown of wages for select sale positions, including the lowest, median and highest wage levels for each position.

Finally, our own data shows a breakdown of the typical compensation packages earned by salespeople in Toronto, according to their position.

A Look Ahead

Although Canada’s oil-dependent economy will rise and fall to some extent with worldwide oil prices, there is reason to expect something different for Toronto. With its diverse economy and healthy start-up culture, the city and its surrounding area is attracting different types of companies that can provide a steadier flow of economic gains, well-paying sales jobs and, for employers, continued competition for the best talent. To be sure, companies that thrive in this environment must go above and beyond to present themselves as employers of choice if they are going attract and retain the sales talent necessary to drive the next level of growth.

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VP Sales – The #1 Mis-Hire + 5 Things A Great VP Sales Does

Early stage companies are painfully “misfiring by mis-hiring” the most important role on the sales team. Don’t hire one until…

In Tech, The #1 Most Common Mis-hire is the VP/Head of Sales

In fact, there’s a venture capitalist saying I hate that goes something like “You’ve Got to Get Past Your First VP of Sales’ Carcass” or “The Second VP of Sales Is When You Really Start Selling” or variants thereof.

It especially bugs me because I’m a firm believer in hiring & training fewer, more committed people rather than taking a ‘churn and burn’ approach.

But…but…those VCs are right. Because in start-ups – especially Software-As-A-Service (SaaS)/ tech, it seems like the majority of first VP Sales fail. They don’t even make it 12 months (we’ve heard that the average tenure for VP Sales of early companies in the valley averages 18 months – and that includes the winners – ouch!).

Let’s look at what those Sales VPs should do since most founder/ CEOs are looking for the wrong things – especially first time founders, or founders who haven’t spent much time in or with sales.

Top 5 Things a Great VP of Sales Does At An Early, Growing Company (In Order Of Priority)

#1) Recruiting

You hire a VP Sales not to sell, but to recruit, train and coach other people to sell. So recruiting is 20% + of their time, because you’re going to need a team to sell. And recruiting great reps and making them successful is the #1 most important thing your VP Sales will do. And great VPs of Sales know this.

Peak Insight:

Depending on the industry, between 20 and 33 percent of salespeople aren’t capable of hitting their targets.

#2) Backfilling and Helping His/ Her Sales Team

Helping coach reps to close deals (not doing it for them). Getting hands-on when needed, or in big deals. Spotting issues before they blow up. Seeing opportunities ahead of the horizon.

Peak Insight:

Great Sales VPs boost a team’s confidence during sales slumps and rally them to work together.

#3) Sales Tactics

Training, onboarding. Territories (you need them). Quotas, comp. How to compete. Pitch scripts. Coordinating FUD and anti-FUD. Segmenting customers. Reports. Ensuring they and the team can get what they need from the sales / CRM system. Etc.

Peak Insight:

Create systems – simplify the sales process so reps can develop strong sales habits and tactics.

#4) Sales Strategy

What markets should we expand into? What’s our main bottleneck? Where should our time & money go? What few key metrics tell us the most about the health of our team & growth?

Peak Insight:

Monitor Activity Volumes – are calls, meetings, proposals, etc. in line with typical ratios required to hit targets?

#5) Creating and Selling Deals Him/Herself

This is last of the Top 5. Important, yes for select deals. But last on the list because if your VP Sales (or CEO, for that matter) is doing the closing rather than their team – you’re bottlenecked. No scaling for you, sir.

Peak Insight:

A founder has to accept that a salesperson in a start-up is sometimes like a boxer fighting with one arm.

SO: don’t hire a VP Sales until you are ready to scale and build and fund a small, growing sales team.

And any VP of Sales that doesn’t see this themselves — probably isn’t a great long-term Sales VP for you. Instead, he/she is either just a great individual contributor, a great builder … or a simply a flawed or desperate candidate. One challenge in hiring salespeople is that they’re often extra good at “selling” themselves too…whether or not they’re actually a good fit!

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Top Industries for Sales Jobs in 2018

Top industries for sales jobs

Sales jobs are constantly evolving in an ever-changing industry landscape. Changes in customer behavior, new kinds of competition, shifting regulation, new methods of distribution and core technologies of production. Together, these factors have the potential to significantly change the nature of an industry. While some industries are on the decline, others are experiencing massive growth. It’s important to be prepared to pivot in your sales career in order to stay relevant and in demand.

So what are the top industries to look for a great sales job? At Peak Sales Recruiting, we’re finding the largest demand (and compensation) in four major B2B market segments: technology and software, healthcare, financial services, and consumer packaged goods (CPG). We’ll go over each industry, describe how they’re changing, present some of the challenges you need to be aware of, and show you why they’re worth exploring further.

Technology and Software

You’d be hard pressed to find a city that isn’t investing in infrastructure to attract tech jobs. Tech and software has long been a staple of the North American economy, dating back to the 60’s & 70’s in Silicon Valley where the first modern technology companies popped up, and still exist today. The dot-com boom in the 90’s, followed by explosive growth in digital in the 2000’s has kept this industry booming. Today’s industry is focused on mobility, SaaS, cybersecurity and automation.

Sales jobs continue to be highly desirable to professionals in this industry. Spiro points out the reasons these jobs are still so hot right now is that the demand is high, job satisfaction is high, pay is better than average, and career opportunities are plentiful and varied.

Growth is expected to expand as it’s “projected to grow 13 percent from 2016 to 2026, faster than the average for all occupations.” Plus, the industry is not just focused around Silicon Valley anymore. Cities from Austin to Toronto have become hotbeds for the tech community in North America.

There are a few segments of this industry that are really driving growth and creating opportunities:

Cybersecurity

ByGoogleCybersecurity has grabbed a lot of headlines recently with the Russian election hacking and the Equifax data breach. In the first half of 2017 alone, there were almost two million

Cybersecurity solutions mitigate data breaches

data record breaches, or about 122 individual records compromised per second – and these events are costly. The average breach costs a typical company 3.62 million, or about 225 dollars per record. This has led to a booming B2B industry with growth in the sector breaking records:

“Cybersecurity deals hit an all-time quarterly high of 146 deals in Q1’17, up 26 percent from the previous quarterly high. The trend held through Q2’17, which saw just one fewer deal (145 total) compared to Q1’17.

The amount of disclosed equity funding to cybersecurity companies has also recently broken records, reaching an all-time quarterly high of 1.6B dollars in Q2’17.”

Big Data / Predictive Analytics / Machine Learning / BI

It’s really hard to separate any of these tech industries as they’ve become so intertwined. Big data gathers the information for machine learning to process, which leads to predictive analytics and business intelligence.

By the end of 2020, the business intelligence and analytics market is expected to exceed 22 billion dollars.

“Purchasing decisions continue to be influenced heavily by business executives and users who want more agility and the option for small personal and departmental deployments to prove success,” said Rita Sallam, research vice president at Gartner. “Enterprise-friendly buying models have become more critical to successful deployments.”

Google and Baidu investment in AI research

Machine learning is coming of age as well as tech behemoths like Google and Baidu collectively spent 25 billion dollars on AI research and acquisition in 2016. This tech will improve predictive analytics and drive B2B efficiency, and you’re already seeing this in Big Data applications like Google Analytics and Adwords search algorithms.

According to HBR Analytic Services, more than 60 percent of executives believe that their future success depends on the successful adoption of AI. In fact, more than a third of the executives that were interviewed are piloting, or in production, with tools powered by artificial intelligence. These early adopters have recognized that AI technologies will have a massive effect on the B2B revenue generation process. As such, these companies are starting to use tools that have embedded AI capabilities that can augment their “sales productivity, customer retention, account growth and other critical aspects of business success”.

Software as a Service (SaaS) / Cloud Products

Software has increasingly moved from an on-premise system that you purchase and own forever (or at least until you need an upgrade) to a cloud-based model where you pay a license fee monthly or yearly to use the software, but always have the latest version. Companies are increasingly transitioning to a cloud-based technology stack, so in order for software providers to stay relevant their solution offering must comply with the new norm.

One of the best examples is when Adobe made the switch to a subscription based model for all of their B2B products. This transformation has led to record revenues for the company. It’s no surprise that their salespeople are some of the most well paid and can expect an average yearly compensation of 183,000 dollars.

Another example of the growing shift is in accounting software. Recent startups like Xero are offering cloud accounting options as a service. This has forced traditional accounting firms like QuickBooks and Turbotax to adapt or die. With the accounting software industry alone expected to grow to 4 billion dollars by 2021, it’s easy to see the success of transforming a traditional software business to a SaaS model.

You can expect to be well paid as a salesperson in the tech industry as the average compensation is around $80k. However, top performers can easily reach six figures. Looking at the 10 best paying companies in the tech industry, a salesperson can expect to make between $150,000 to $250,000.

There are certainly challenges to working in this field however. Tech changes fast, and you don’t need to look any further than the shift in office-based software over the last two decades. Lotus 123 – the once dominant word processing software, was replaced by Microsoft Office as the standard in most businesses. And now with the prevalence of Google Docs, you’ll find that the use of Microsoft Office in the workplace is declining as well. There are dozens of reasons a tech company could fail, and obsolete tech is one of the most common.

Healthcare

As the baby boomer population retires, the general population expands, and medical technology advances, it’s easy to see why 7 out of 20 of the fastest growing industries on the Bureau of Labor Statistics website are in a healthcare related field.

Growth is explosive in the healthcare industry for two main reasons: an aging population, and a population that is sicker than ever. The healthcare industry is seeing growth in many different areas, including home healthcare, mobility devices, and sports injury centers. However, there are two segments that are highly desirable for sales professionals: pharmaceuticals and medical equipment.

Pharmaceuticals

The worldwide pharmaceutical market has grown from 390 billion dollars in 2001, to more than 1.1 trillion dollars in 2016. Almost half of that is in North America alone.

Although there have been some cutbacks in recent years, the outlook is very promising, with total sales jobs topping 400,000 in the US by 2022.

Medical Devices

Like pharmaceuticals, the medical equipment market is dominated by US companies. Over the next few years, these companies are expected to double their revenue growth rates.

“On average, analysts forecast that revenue at large medical-device companies will grow by between 4 and 5 percent per year over the next few years, considerably more than the 2 percent overall annual market growth recorded over the past five.”

The biggest downsides to the industry lie with insurance companies and government. Drug and medical equipment sales are highly regulated, even requiring approval of sales literature. On top of that regulation, treatment coverage is a moving target and what’s covered one day may not be covered the next and the product or solution you’re selling may no longer be relevant.

That said, compensation remains strong, and remains as one of the best paying sales jobs. The average compensation in the industry is almost 150,000 dollars between base salary and commission. Sales representatives also report many perks to the job, like great benefits, stock options, company cars, and 401k with matching contributions.

One thing to keep in mind: with rapid changes in healthcare, come new requirements for healthcare sales reps, as they’re expected to excel in a few different areas – most notably in digital marketing. This is due to how medical professionals are getting their info, which is to say not just from printed medical journals. If you can excel in these new areas, you can build a great career in this industry.

 

Compensation by Industry

Financial Services

The financial services industry encompasses a range of B2B services that manage money. This includes everyday banking, stocks and bonds, financing, accounting, insurance products and more. The industry more than doubled in the last three decades, and it’s why you’ll find that financial services makes up an average of more than 20 percent of GDP in most developed countries. In the US, it’s estimated at 7.3 percent of total GDP, which is a massive 1.4 trillion dollars.

Recent years have seen a decline in financial advisor jobs and revenues. This is driven by a new generation of wealthy millennials that are declining to use financial advisors as new products and services become available. However, there is an area in financial services that is growing rapidly, and attracting top sales talent: FinTech.

Financial Tech (FinTech)

Historically, FinTech has referred to the back end computer systems that run the financial industries. This is no longer true, as FinTech is now used to reference all of the technology implemented into the financial services world. FinTech now includes everything from your mobile banking app, online trading platforms, fraud prevention software, machine learning, mobile payments, blockchain technology and the complex trading software used on wall street.

The growth in this industry is staggering:

“Funding continues to remain strong with US8.2 billion dollars invested in the third quarter of 2017. This is after more than doubling to US9.3 billion dollars in the second quarter… Investments in Fintech were still way above the US6.3 billion dollars raised in third quarter of 2016. The United States has led the in global fintech investments. Data shows that in the 3rd quarter of 2017 US5 billion dollars deployed across 142 deals. A major portion of the fintech industry is the blockchain market.”

Bitcoin has blown the blockchain market wide open. Although Bitcoin itself is not relevant here, the technology behind it is. Companies are investing in blockchain technology to secure almost any transaction or record, the stock market, and mobile transactions. We’re just learning about how valuable this technology can be to everyday financial services, but here are 35 real-world examples of blockchain tech in action.

Mobile / Digital Payment Solutions

A subset of FinTech, mobile and digital payment solutions is worth noting as it’s experiencing amazing growth on its own. Startups are creating peer-to-peer money exchanges that work by simply tapping two phones together, transit passes are going phone-based, and B2B transactions are expected to be the next trillion dollar industry.

The days of checkbooks and ATMs may be headed for the history books as this recent study shows:

“Mobile money services have proven to be an effective gateway for financial inclusion among the unbanked, a demographic that could evolve into a US3 trillion dollar payments volume opportunity. Tomorrow, your bankers or wealth manager will coach you throughout your day to take appropriate financial decisions based on a combination of artificial intelligence and transactional and contextual data. Frustration and cost will decrease as new business models and emerging technologies are being adopted to streamline onboarding processes, operations and client communication. The influence that FinTech is having on the market is growing and the long-term potential is even greater.”

Salaries in the financial services sales world vary greatly depending on the product or service you’re selling. Insurance sales are at the lower end of the spectrum and can expect to make above $50k, with an outlook of 10 percent growth over the next 10 years. Financial services, securities and commodities can expect to make closer to 70 thousands dollars with a ten year expected growth rate of six percent, or average. FinTech sales is a little harder to define overall, but quite often falls into the technology sales salary expectations in the first section and can hit six figures.

As with all industries, the challenges in financial services are similar. Businesses can be notoriously slow in picking up new technology. FinTech is also moving fast, which creates two problems: being able to communicate the latest changes to a client, and the dangers of becoming obsolete.

There’s also the issue of recessions and market crashes, which sometimes go hand-in-hand. No industry gets hit harder during a recession than the financial industry. If there’s less money to move around, there are less transactions occurring. This will eat into the desire to use these services and invest in new technologies.

Consumer Packaged Goods (CPG)

Consumer Packaged Goods, or CPG, are those purchases that we as consumers make frequently, most notably food, drinks, clothing, household products, and health and wellness. The CPG industry hit 800 billion dollarsin North America for 2016, and although actual dollar growth has slowed, this has more to do with deflationary pressures on currency than on product sales themselves.

Consumer Packaged Goods

Another indication of how robust the market is, is the expected growth:

“Imagine, if you will, that over the next decade the world will gain an additional 81 Procter & Gambles or 458 equivalents of Kellogg’s. This is the sort of growth that will happen in the global consumer-packaged-goods (CPG) sector, which will nearly double in size—to 14 trillion—by 2025, from eight trillion dollars in 2014.”

The growth in this category is fuelling investment into CPG at record rates. There are a couple of reasons why growth is so massive: Ecommerce and emerging markets.

Ecommerce

You don’t need look any further than Amazon’s acquisition of Whole Foods to see this growth in action. Before Amazon even purchased Whole Foods, Amazon’s online CPG growth was drastically outpacing the global industry.

If that’s not enough, 9 out of every 10 dollars of CPG growth is happening in online. E-commerce is no longer an option for CPG brands, it’s a must have.

Emerging Markets

As poorer nations continue to strengthen and grow their middle-class, like China and India to name a couple of the more populous nations, it’s opening new CPG markets to brands. Emerging markets are expected to grow CPG sales 3 times faster than developed nations, and reach 6 trillion dollars in sales by 2020.

70 percent of the world’s population lives in emerging markets, so the growth opportunity is substantial.

All of this growth is leading to more opportunity for the B2B CPG salesperson. One thing to note is that a lot of CPG sales jobs expect a level of formal education that is higher than most other sales jobs. While you can get away with experience in lieu of education in many fields, CPG sales often requires an MBA due to the complex nature of how CPG are sold, and the need to understand business economics even at the junior level. That being said, the top positions in CPG sales will regularly hit six figures, and hitting 300 thousand a year in salary and commission is regularly achieved by top performers.

The main challenges affecting CPG sales are slow or shrinking traditional growth. In-store retail growth has slowed or disappeared in almost all categories, at least for now. If you’re not keeping up with trends, you can expect sales to lag.

Consumers are also expecting a more personalized shopping experience. Instead of a cost effective one-brand-fits-all approach, companies are finding it’s better to have many brands to personalize the experience. It’s one reason you’ll find more Diet Coke varieties available in 2018 than at any time in history. Having a large number of complex brands can make things more challenging, so you need to adapt to trends quickly, or you’ll find yourself behind.

Sales jobs are some of the best paying positions in most companies because they are directly responsible for driving the organization’s revenues. As technology and industries change, sales will become more important than ever. Staying on top of trends will help you be properly equipped for decades to come.

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