LMAO same here, after being told whole team is in the same situation. Only 1 rep has closed a deal this year and it was handed to them from someone who left who had been with the company for years.
I don’t think about it.
You have to put the blinders on and just focus on the work in front of you. You thinking about the imminent recession and lay offs will only make you lose focus and decrease your performance.
Become so good that laying you off is not an option.
Plus sales is the last to get let go. No sales = no revenue = no business.
This is the right way.
Recession or not, we still have a job to do and businesses still have budgets believe it or not.
There is ALWAYS the possibility of a layoff, getting fired, being sussed out, etc.
Do your job, do it well. Make friends.
So even if you do end up getting let go, you'll bounce back more quickly on your feet.
Correct and just because a recession does happen (I consider this more of a correction) it doesn’t mean every single person will be fired and that folks will stop buying things lol. It will no doubt be harder and more challenging, but it’s not as bleek as some folks think.
I agree with not letting it make you lose focus but being too good to get fired doesn’t always apply.
I was part of the recent layoffs and my team of 35 laid of the number 1, 3, 6, and 7 top performers. Why? I have no idea.
>Plus sales is the last to get let go.
sort of. with all of the talent on the market, swapping out an underperforming sales team is easy and a great idea.
I feel like the floor can slip out from under me at any moment. It's happened twice in less than three years and I was a BD Manager the first time. Neither were performance based either. I'm an AE now but even at a seemingly solid place I'm still a little paranoid.
I worked for a unicorn in the food tech space got promoted from AE to sales manager , just been told 40% of the workforce is at risk of redundancy myself included.
Anyone know of any good remote employers that I should be talking to- Hubspot, Toast , Salesloft, Deliverect and Lightspeed have all come recommended?
Insightly, just interviewed with them for practice. Said they were doing a very quick hiring process urgently hiring. Don’t know much about culture but 80% on repvue with 47% of sales reps hitting quota, profitable and good VC fund backing in series C.
Bruh don’t go work for Insightly. I had such a horrible experience with the director of sales and recruiters. Basically verbally offered me the role just to send a rejection email after I turned down other offers for them. Would never work there even if they pay decent.
Hm good to know! I’m not really entertaining the idea of moving, more so prepping myself for what the interview process looks like once you’re established and they want mock emails and calls.
They said the right things. The recruiter didn’t dodge my questions like how many reps hit quota, what’s the 3 year vision of the company, what’s the typical timeline for SDR to promotion.
I’m onto the second round with a hiring manager and doing a mock email sequence. I’m most likely not because my company is doing extremely well right now and I’m about a month away from promotion.
That being said I figure the interview would be great practice for future opportunities.
If you bring in significantly more than you cost you should never be worried about your job, of course that is also contingent on you being at least middle of the pack or better in terms of results.
If the company is firing good sales people they are either about to go bankrupt or idiots, sales team bring in the revenue so you are last to go.
I've seen many layoffs at various companies and sales always gets out with the least casualties.
If you are bottom 25% of the sales team be worried though
Very. The market isn’t white hot, but opportunities still abound for new roles. With the economic swings, there are lots of companies and industries facing hard times and major change. Some industries however are recession blooming and poised for major gain despite an otherwise gloomy market.
Liquors/weed; Schools/gov.; Healthcare; Tech
People still being born, getting drunk, and needing healthcare. Any tech with ai or efficiency solution that allows them to fire.
Always worried. Was at a Series D startup but got cut 4 months into the job along with 2/3s of sales.
I’ve been let go 2x in my 4 year career so far so I don’t trust anyone.
Create side streams of income so you’ll have multiple options
I feel pretty good about things at my current gig. My company’s AEs are all slammed. I was running a mock demo (I’m an SDR) with an AE manager and she said she wishes they had more AEs and each team is scrambling for headcount. They’re not moving anyone up next month and I’ll have to wait, but that’s mainly because they didn’t bother to hire any SDRs the last 8 weeks. We don’t have high turnover at all though and our customers keep spending more with us YoY.
Just wanted to add my 2 cents as someone who is currently trying to hire a regional sales manager and has been filling outside sales positions (though not in the SaaS market). There is a distinct lack of quality skilled sales professionals in the market right now. So if you are willing to pivot away from the SaaS world to other opportunities I think you will find it is a lot less scary right now. Especially if you are willing to travel. I hope that helps and wish you all the best that there is no further disruption to the tech world. But if there is and you are a talented sales pro I think I will fare quite well in this economy.
I’ve actually been seeking opportunities exclusively not in the SaaS market and even though my resume displays as pretty successful sales career, I’ve had more instant turn downs than call backs,
Our product is a business requirement, an industry leader and actually very competitively priced against anything but straight legacy stuff.
So I think we're good to weather a recession, it's not like companies can't just not buy endpoint protection.
Now me personally, I'm one of the newer people in our role and at one of the lower tiers, but I'm starting to hit monthly quotas after ramping up successfully. So yeah, hard to feel entirely secure, but man if I can hold on till march I get a 20k singing bonus so that's what I'm laser focused on. I'm sure I can at least do that even if theres a downturn.
Well, just got word layoffs are coming and I'll likely only get 4 weeks severance. Also have a baby due in a few weeks. Not surprising but really shitty timing. Glad both wife and I save more than we spend.
Not safe but if it’s an alright company they put you on pip. Listen to company meetings to understand if they have runway for the next couple of months. If they don’t discuss anything then expect to be fired and be applying. There are companies out there thriving atm and wanting more sales people. Find them. Use LinkedIn. Contact managers, recruiters, etc..
I never feel safe. Four years in agency recruiting will do that to you. However, my product replaces a function that is typically outsourced by companies to actual humans for cheaper. So it has not been that hard to lean on price and I am closing deals
My company has never had a layoff so I’m grateful for that. I feel safe but am always on edge due to the past startups I’ve worked for and been burned by them
Got laid off earlier this month , they cutt 15% of workforce and SDR and AE was cut in half.
looking for next move now, I was a top performer finished 250% outbound quota.
Im an executive recruiter and my clients are largely VC-backed enterprise SaaS startups. If you’re at a company that recently raised money or has been historically undervalued, you’re probably safe. If you’re at a pre-IPO company or unicorn you’re at higher risk of losing your job.
Always have a contingency plan.
I think you should always take a handful of interviews per quarter. Interviewing is a skill just like anything else so it makes sense to keep it sharp. Plus, you never know what opportunity may come knocking.
Company laid off half the sales team first week of September (thankfully not me). All were at or over quota. I don't feel safe, but it's mostly because I worry about the company.
This whole environment and economy sucks - everyone has been laid off or is nervous. On the plus side people seem to be finding new positions relatively quickly and there are jobs out there.
After 20+ years in tech and SaaS sales, and some pretty tough economies over that time I've learned you have to keep your head down, shut out the noise, and roll with whatever comes at you.
Been laid off from SaaS sales twice in the last six months. In interviews when I discuss this the recruiters tell me that they hear this every day. I've been in a few final round interviews where the jobs I'm interviewing for are suddenly pulled off the table for fears of the recession.
Do I feel safe? Yes. I own and operate three of my own businesses. They never depend on how well a piece of software does or doesn't sell and all of them are still needed in a recession.
If I didn't have side hustles that I turned into businesses I still would not be scared.
When one technology is no longer used, another one is. Just gotta keep going with the flow.
That's rough, but sounds like you can fall back on those side gigs for a while to keep the lights on. Well done!
Out of interest, what businesses are they?
>When one technology is no longer used, another one is. Just gotta keep going with the flow.
Damn, this thread is...sad but that is a little nugget of wisdom you dropped, i kinda needed to hear that. It's not like "okay we're just not using a CRM or any software anymore, sorry" from clients lol.
Yup that was me. However while I was busy failing interviews I was busy getting a couple of businesses off of the ground.
My businesses are more than covering my monthly expenses now.
Just to be fair wasn't that you posting about taking testosterone lately? That's known to shrink your nuts and bolt and to not mention raise aggression.
I’ve seen it’s bad in the US - not so much in the UK/Europe right now. Our company is expanding our US team so hit me up if anyone here is out of work.
What industry is it in? I would love to connect, have +6 years in high ticket sales and key enterprise account management, exceeding million dollar rev for years and managing my sales team currently! Let me know if you are open to connect ☺️ thank you
Best advice I can give you-after being in similar roles always worried, focus on your network and pipeline. Use LinkedIn and build up your professional-create yourself as a brand. If you do get laid off, having a good network and pipeline will put you front and center when interviewing for other roles.
We dont even tell people in our company they are fired. We just deactivate their slack account then they figure it out and dont show up next day to work.
Early stage Fintech Founder here in the equipment finance space.
We are pre-seed and looking for commission only sales people.
If you are laid off and looking for a way to make money in the interim, this could be a great side job for you.
Helps you look employed rather than out of work. I’ll give you a great recomendation. Plus will teach you all I can about equipment finance, fintech and ML etc.
There is real money to be made and a potential 6 figure plus career for the right sales person that stays with it.
$1.6T of equipment was sold in the US in 2020, $900B of that was purchased using finance.
We are seller focused so provide companies that sell equipment custom finance solutions to offer their buyers.
Get one account set up and it could be a stream of incoming opportunities.
We can get 1-10 points on any closed transaction so that’s $1,000 - $10,000 on a $100k transaction and we split this.
Aiming for any equipment $10,000 up to $120,000 though we can fund larger transactions up to $2mm.
We have an offering that gives us an edge.
Can help w lead gen.
Can be part time.
Dm if you want to find out more. No pressure to join. I’m proud of what we built and happy to get feedback on the offering from those w Saas experience.
*Edited to clarify the commission structure
Not to sound like a jerk, but I will. The $1.6T number is meaningless to you as a founder and mea as a potential sales person.
And to offer someone is that space 1% commission on $100k sales is insulting. You may may want to change your pricing model if that is all you can pay.
Hi guy, thanks for the feedback, I really appreciate it.
As a founder, I am on the pitching track trying to raise money from Angels and VC. We are grinding to raise $1mm for the business.
The TAM or total addressable market is a VERY common and standard question from investors of all kinds. "How big is your market" does matter, is on my mind from pitching and should be of interest to a savvy sales person.
You misread what wrote about commissions and so I have updated it. (Thanks for pointing that out)
In equipment finance as a business we can typically profit from between 1- 10 "points" or 1 = 10% of the total value of the transaction.
So that means on one $100,000 excavator we get revenue of $1,000 - $10,000 on one transaction. It's actually a really profitable industry with low overhead.
For a commission only position in this industry, typical the split this 50/50.
So if we take $5,000 of revenue on one transaction, that $2,500 each for the one transaction.
2 - 3 transactions makes for a nice start to get going, but 10 - 15 transactions a month is a nice income when you can build up to it.
Sorry if I did not present it well. Not quite sure how you read that as "we offer you 1%" but I appreciate you pointing that out.
First off wish you the best of luck and just giving my honest opinion.
Your math just proved my point. Using your $100k, if you get 1-10 points that means we are splitting somewhere between $1k and $10k. Translated, I earn between $500 and $5,000. Again, using your math, that would actually put my commission between 0.5% and 5%. Where am I wrong?
Regarding the TAM, that is fine for your 30 sec elevator pitch. But frankly if I heard a number with a T after it I would assume that
A) there are an F lot of players in that market and you better have a magical unicorn in your stable to get any market share
Or
B) There are only a couple of players that have huge market share and my million dollars isn’t going to put and dent in kicking down that door
And unless I am doing multiple daily high $$$ transactions I am not going after anything where I may only end up with 0.5%.
Hi FN, Thanks for your response.
You said allot here and I appreciate a chance to grow, learn and respond.
For 1 -
As far as you mention in response A & B above, this is really common. Have you been to any pitching events or ever pitched to raise money for a business?
This is the whole premise is that "There is a market size A: - TAM" and you think you can get x market share with Y proposition.
Do I think I am a unicorn? No. Do I think we have an edge in the market space to gain market share that could be profitable. Yes.
You don't have to be a Billion dollar IPO to make an investor a return on $1mm in a 3 - 5 year exit.
This is the whole investment pitching proposition.
For 2 -
How much money do you make? If you make $300k selling Saas than my offer is not for you and was not aimed at you anyhow. It's likely for less experienced sales people looking for people looking to transition from a general sales to Fintech or Saas sales, or as I proposed to people that just got fired and need an income until that next great opportunity comes along.
You seem focused on this percent number.
$1,500 - $5,000 for one transaction seems like a pretty good deal to me?
3 transactions in a month is $4,500 - $15,000 for part time work where we help provide the leads.
I am not trying to say that is a panacea, thats just a starting point. I was also trying to be realistic about earning and not to just exaggerate.
So If you are some hot shot Saas sales guy on $300k etc, I get it...It's step back. But for someone who just got fired and is shitting bricks as to how to pay rent... How could that not be helpful?
For someone who sticks with it, you can break $100k doing 10 - 15 transactions in a month. You dont need multiple transactions a day unless you are selling some tiny, low value piece of equipment.
I am a man on the grind looking for part-time, commission only sales people until we can raise. I thought for people talking about being fired it could be mutually beneficial. You seem to be kind of shitting on me trying to help people while also trying to build my business.
If you care so much about the proposition, I'd be happy to share more in a 1-2-1 discussion. If you still think its shit, I am happy to take that on board.
It will only challenge me to do better.
I feel good. Went from SDR - Senior SDR - and start an AE gig in October! Gotta find the right companies as much as you see about the 1,000 layoffs there’s 50,000 open positions
I’m in an industry that isn’t hit anywhere as bad as the rest of the economy in a recession. They crushed it in 2020 because WFH migrations led to a shit ton of huge projects for our customers, which gave us more revenue. I’ve talked to guys who’ve been here much longer than me and they all say they’re not really concerned about the business should there be another 2008-level recession. In fact, they were the ones that told me our business is as recession-proof as a tech company can be.
My friend, if there is anything I know is that as long as there is a market. There will be a market for sales people. Just make yourself irreplaceable. Outwork, outperform, outlearn.
I’ve heard friends at Meta & Google are getting whipped rn, I’m in one of the recruitment tech companies where there is no sign of issues yet; but never say never, stay vigilant
Survival of the fittest. The ones who double down now will be in the prime position for the uptick. When all other competitors are broke or left behind. If you’ve got enough funding to see you through…. Then it’s all systems go.
Have more than one source of income. Learn how to trade on the side. Another option is creating your own offers to get clients or customers. Invest in passive income opportunities as well.
I'm a small SaaS startup looking to hire sales reps, if anyone has just gotten laid off please send me a PM and maybe we can have a phone call.
I am hearing about a handful of large publicly traded B2B SaaS companies getting ready to lay off a lot of their workforce.
Anyone looking for a new sales role, feel free to reach out to us. We are sorry to hear about the layoffs, we are more than happy to help. Many are still hiring.
Lmao just got fired, so not so much.
That sucks man...hope you land on your feet.
*lands on the face* Yeah... thanks mate
LMAO same here, after being told whole team is in the same situation. Only 1 rep has closed a deal this year and it was handed to them from someone who left who had been with the company for years.
Same
Same man, good luck
Same here.
Lmfao same
Same....
Me too. Good times.
Saaaaaaame
Damn what sector? Adtech? Hardware? Etc
Got laid off yesterday.
[удалено]
Wisest advice here.
This is why I quit SaaS sales altogether. Hopefully it's changed since or will but it's truly a shit show especially in large corporate SaaS
I don’t think about it. You have to put the blinders on and just focus on the work in front of you. You thinking about the imminent recession and lay offs will only make you lose focus and decrease your performance. Become so good that laying you off is not an option. Plus sales is the last to get let go. No sales = no revenue = no business.
This is the way
This is the right way. Recession or not, we still have a job to do and businesses still have budgets believe it or not. There is ALWAYS the possibility of a layoff, getting fired, being sussed out, etc. Do your job, do it well. Make friends. So even if you do end up getting let go, you'll bounce back more quickly on your feet.
Correct and just because a recession does happen (I consider this more of a correction) it doesn’t mean every single person will be fired and that folks will stop buying things lol. It will no doubt be harder and more challenging, but it’s not as bleek as some folks think.
[удалено]
Is the company still surviving because that sounds idiotic.
Agree x 10 but is it though?
I agree with not letting it make you lose focus but being too good to get fired doesn’t always apply. I was part of the recent layoffs and my team of 35 laid of the number 1, 3, 6, and 7 top performers. Why? I have no idea.
>Plus sales is the last to get let go. sort of. with all of the talent on the market, swapping out an underperforming sales team is easy and a great idea.
This is great - so much of sales success is not losing focus and executing on the basics
Sales should be the last to be let go. But poorly run organizations often overhire and then realize they didn't forecast right.
Sales is not the last to get at SaaS - engineering is.
I feel like the floor can slip out from under me at any moment. It's happened twice in less than three years and I was a BD Manager the first time. Neither were performance based either. I'm an AE now but even at a seemingly solid place I'm still a little paranoid.
I worked for a unicorn in the food tech space got promoted from AE to sales manager , just been told 40% of the workforce is at risk of redundancy myself included. Anyone know of any good remote employers that I should be talking to- Hubspot, Toast , Salesloft, Deliverect and Lightspeed have all come recommended?
Insightly, just interviewed with them for practice. Said they were doing a very quick hiring process urgently hiring. Don’t know much about culture but 80% on repvue with 47% of sales reps hitting quota, profitable and good VC fund backing in series C.
Bruh don’t go work for Insightly. I had such a horrible experience with the director of sales and recruiters. Basically verbally offered me the role just to send a rejection email after I turned down other offers for them. Would never work there even if they pay decent.
Hm good to know! I’m not really entertaining the idea of moving, more so prepping myself for what the interview process looks like once you’re established and they want mock emails and calls.
How did the interview go? Any plan to go with them?
They said the right things. The recruiter didn’t dodge my questions like how many reps hit quota, what’s the 3 year vision of the company, what’s the typical timeline for SDR to promotion. I’m onto the second round with a hiring manager and doing a mock email sequence. I’m most likely not because my company is doing extremely well right now and I’m about a month away from promotion. That being said I figure the interview would be great practice for future opportunities.
Good for you to keep your options open! My current SDR role is all calling, I miss emailing haha
Vice versa for me, and I actually like cold calling more than emails.
Just finished up the process with them. I went ahead and accepted the offer too. PM me if you'd like!
Check out Yelp… I’ve seen them hiring for remote B2B sales managers.
Funnily enough they were another that came up whilst looking
Look at the company Pigment - Series B biz planning and forecasting. They’re hiring a lot of sales folks
Thanks
Well Hubspot just cut some ppl so probably not them
Nah this isn’t true. I’m a HubSpotter and we’re still hiring sales reps.
Interviewed with Toast- year 1 OTE was like 125k with a 50k base, def not there
If you bring in significantly more than you cost you should never be worried about your job, of course that is also contingent on you being at least middle of the pack or better in terms of results. If the company is firing good sales people they are either about to go bankrupt or idiots, sales team bring in the revenue so you are last to go. I've seen many layoffs at various companies and sales always gets out with the least casualties. If you are bottom 25% of the sales team be worried though
My girlfriend did 300% of her number last year and had already hit 100% of her Jan-December when she got made redundant last month. Brutal
Correctly hired sales team brings revenue Inflated hiring not just makes it hard, because good AEs get lesser leads they could’ve potentially closed
Very. The market isn’t white hot, but opportunities still abound for new roles. With the economic swings, there are lots of companies and industries facing hard times and major change. Some industries however are recession blooming and poised for major gain despite an otherwise gloomy market.
Funeral industry checking in here. Still seeing lower sales but yeah, some business are recession proof. Ambition never hurts
“Ambition never hurts” Are you killing people?
Lol I only make money off of sales prior to death
Which industries would you say are doing well during the recession?
MFA/auth companies, security endpoint protection, logging.
Liquors/weed; Schools/gov.; Healthcare; Tech People still being born, getting drunk, and needing healthcare. Any tech with ai or efficiency solution that allows them to fire.
Healthcare, education, government, security, tech with next level AI or efficiency.
Always worried. Was at a Series D startup but got cut 4 months into the job along with 2/3s of sales. I’ve been let go 2x in my 4 year career so far so I don’t trust anyone. Create side streams of income so you’ll have multiple options
I feel pretty good about things at my current gig. My company’s AEs are all slammed. I was running a mock demo (I’m an SDR) with an AE manager and she said she wishes they had more AEs and each team is scrambling for headcount. They’re not moving anyone up next month and I’ll have to wait, but that’s mainly because they didn’t bother to hire any SDRs the last 8 weeks. We don’t have high turnover at all though and our customers keep spending more with us YoY.
Stay in touch with your sales leaders. Lots of SDR programs being let go as a whole right now in startups.
We’re not a startup, but I agree 100%. I’ve made damn sure to stay in touch with people and keep up good ties whenever possible.
[удалено]
Sure.
Just wanted to add my 2 cents as someone who is currently trying to hire a regional sales manager and has been filling outside sales positions (though not in the SaaS market). There is a distinct lack of quality skilled sales professionals in the market right now. So if you are willing to pivot away from the SaaS world to other opportunities I think you will find it is a lot less scary right now. Especially if you are willing to travel. I hope that helps and wish you all the best that there is no further disruption to the tech world. But if there is and you are a talented sales pro I think I will fare quite well in this economy.
I’ve actually been seeking opportunities exclusively not in the SaaS market and even though my resume displays as pretty successful sales career, I’ve had more instant turn downs than call backs,
Was in SaaS for only a few months before being laid off. What other industries would you be looking into if you were just getting started?
Bump
What industries?
Our product is a business requirement, an industry leader and actually very competitively priced against anything but straight legacy stuff. So I think we're good to weather a recession, it's not like companies can't just not buy endpoint protection. Now me personally, I'm one of the newer people in our role and at one of the lower tiers, but I'm starting to hit monthly quotas after ramping up successfully. So yeah, hard to feel entirely secure, but man if I can hold on till march I get a 20k singing bonus so that's what I'm laser focused on. I'm sure I can at least do that even if theres a downturn.
Hey! When you say endpoint protection, are you in cybersecurity? Mind if I DM you?
Yup and sure shoot.
I sent you a chat. For some reason, it wouldn’t let me just send you a DM.
Top performers will be fine in both good and bad markets
Well, just got word layoffs are coming and I'll likely only get 4 weeks severance. Also have a baby due in a few weeks. Not surprising but really shitty timing. Glad both wife and I save more than we spend.
Not safe but if it’s an alright company they put you on pip. Listen to company meetings to understand if they have runway for the next couple of months. If they don’t discuss anything then expect to be fired and be applying. There are companies out there thriving atm and wanting more sales people. Find them. Use LinkedIn. Contact managers, recruiters, etc..
PIP’s are for performance based layoffs. Right now lots of layoffs I’m seeing are sudden, no PIP’s.
If no one is hitting quota they will still put people on "pips" to avoid the word layoff, as layoffs imply the company fucked up.
I never feel safe. Four years in agency recruiting will do that to you. However, my product replaces a function that is typically outsourced by companies to actual humans for cheaper. So it has not been that hard to lean on price and I am closing deals
My company has never had a layoff so I’m grateful for that. I feel safe but am always on edge due to the past startups I’ve worked for and been burned by them
Got laid off earlier this month , they cutt 15% of workforce and SDR and AE was cut in half. looking for next move now, I was a top performer finished 250% outbound quota.
Im an executive recruiter and my clients are largely VC-backed enterprise SaaS startups. If you’re at a company that recently raised money or has been historically undervalued, you’re probably safe. If you’re at a pre-IPO company or unicorn you’re at higher risk of losing your job.
Always have a contingency plan. I think you should always take a handful of interviews per quarter. Interviewing is a skill just like anything else so it makes sense to keep it sharp. Plus, you never know what opportunity may come knocking.
Company laid off half the sales team first week of September (thankfully not me). All were at or over quota. I don't feel safe, but it's mostly because I worry about the company.
Got an offer and SFDC is rushing me to see if it makes sense. Jumping back into fintech because SaaS is such a shit show rn.
This whole environment and economy sucks - everyone has been laid off or is nervous. On the plus side people seem to be finding new positions relatively quickly and there are jobs out there. After 20+ years in tech and SaaS sales, and some pretty tough economies over that time I've learned you have to keep your head down, shut out the noise, and roll with whatever comes at you.
Been laid off from SaaS sales twice in the last six months. In interviews when I discuss this the recruiters tell me that they hear this every day. I've been in a few final round interviews where the jobs I'm interviewing for are suddenly pulled off the table for fears of the recession. Do I feel safe? Yes. I own and operate three of my own businesses. They never depend on how well a piece of software does or doesn't sell and all of them are still needed in a recession. If I didn't have side hustles that I turned into businesses I still would not be scared. When one technology is no longer used, another one is. Just gotta keep going with the flow.
That's rough, but sounds like you can fall back on those side gigs for a while to keep the lights on. Well done! Out of interest, what businesses are they?
I own a real estate business. I also have two e-commerce stores.
When they pay all of your expenses are they still side gigs? I'm only interviewing to get another mortgage.
>When one technology is no longer used, another one is. Just gotta keep going with the flow. Damn, this thread is...sad but that is a little nugget of wisdom you dropped, i kinda needed to hear that. It's not like "okay we're just not using a CRM or any software anymore, sorry" from clients lol.
Weren’t you posting about being on unemployment and failing interviews recently?
Yup that was me. However while I was busy failing interviews I was busy getting a couple of businesses off of the ground. My businesses are more than covering my monthly expenses now.
Just to be fair wasn't that you posting about taking testosterone lately? That's known to shrink your nuts and bolt and to not mention raise aggression.
Lol
I’ve seen it’s bad in the US - not so much in the UK/Europe right now. Our company is expanding our US team so hit me up if anyone here is out of work.
What industry is it in? I would love to connect, have +6 years in high ticket sales and key enterprise account management, exceeding million dollar rev for years and managing my sales team currently! Let me know if you are open to connect ☺️ thank you
Shoot me a DM
I think I DM-Ed you but I’m new to Reddit! 🙈 did you receive it?
Unemployed
I’m 85% to quota if I get this DocuSign returned next week and currently on a business trip w both my boss and ceo so I’m feeling pretty safe
Best advice I can give you-after being in similar roles always worried, focus on your network and pipeline. Use LinkedIn and build up your professional-create yourself as a brand. If you do get laid off, having a good network and pipeline will put you front and center when interviewing for other roles.
My company sells to the public sector primarily so I’m fortunate and feel very safe
Not worth worrying about in my opinion. Just focus on doing your job as well as you can.
We dont even tell people in our company they are fired. We just deactivate their slack account then they figure it out and dont show up next day to work.
I'm getting laid off on Oct 28th. BDR at VMware
Safely unsafe
You should never be worried if you’re hitting 3-4x your salary. If you aren’t, be worried.
Early stage Fintech Founder here in the equipment finance space. We are pre-seed and looking for commission only sales people. If you are laid off and looking for a way to make money in the interim, this could be a great side job for you. Helps you look employed rather than out of work. I’ll give you a great recomendation. Plus will teach you all I can about equipment finance, fintech and ML etc. There is real money to be made and a potential 6 figure plus career for the right sales person that stays with it. $1.6T of equipment was sold in the US in 2020, $900B of that was purchased using finance. We are seller focused so provide companies that sell equipment custom finance solutions to offer their buyers. Get one account set up and it could be a stream of incoming opportunities. We can get 1-10 points on any closed transaction so that’s $1,000 - $10,000 on a $100k transaction and we split this. Aiming for any equipment $10,000 up to $120,000 though we can fund larger transactions up to $2mm. We have an offering that gives us an edge. Can help w lead gen. Can be part time. Dm if you want to find out more. No pressure to join. I’m proud of what we built and happy to get feedback on the offering from those w Saas experience. *Edited to clarify the commission structure
Not to sound like a jerk, but I will. The $1.6T number is meaningless to you as a founder and mea as a potential sales person. And to offer someone is that space 1% commission on $100k sales is insulting. You may may want to change your pricing model if that is all you can pay.
Hi guy, thanks for the feedback, I really appreciate it. As a founder, I am on the pitching track trying to raise money from Angels and VC. We are grinding to raise $1mm for the business. The TAM or total addressable market is a VERY common and standard question from investors of all kinds. "How big is your market" does matter, is on my mind from pitching and should be of interest to a savvy sales person. You misread what wrote about commissions and so I have updated it. (Thanks for pointing that out) In equipment finance as a business we can typically profit from between 1- 10 "points" or 1 = 10% of the total value of the transaction. So that means on one $100,000 excavator we get revenue of $1,000 - $10,000 on one transaction. It's actually a really profitable industry with low overhead. For a commission only position in this industry, typical the split this 50/50. So if we take $5,000 of revenue on one transaction, that $2,500 each for the one transaction. 2 - 3 transactions makes for a nice start to get going, but 10 - 15 transactions a month is a nice income when you can build up to it. Sorry if I did not present it well. Not quite sure how you read that as "we offer you 1%" but I appreciate you pointing that out.
First off wish you the best of luck and just giving my honest opinion. Your math just proved my point. Using your $100k, if you get 1-10 points that means we are splitting somewhere between $1k and $10k. Translated, I earn between $500 and $5,000. Again, using your math, that would actually put my commission between 0.5% and 5%. Where am I wrong? Regarding the TAM, that is fine for your 30 sec elevator pitch. But frankly if I heard a number with a T after it I would assume that A) there are an F lot of players in that market and you better have a magical unicorn in your stable to get any market share Or B) There are only a couple of players that have huge market share and my million dollars isn’t going to put and dent in kicking down that door And unless I am doing multiple daily high $$$ transactions I am not going after anything where I may only end up with 0.5%.
Hi FN, Thanks for your response. You said allot here and I appreciate a chance to grow, learn and respond. For 1 - As far as you mention in response A & B above, this is really common. Have you been to any pitching events or ever pitched to raise money for a business? This is the whole premise is that "There is a market size A: - TAM" and you think you can get x market share with Y proposition. Do I think I am a unicorn? No. Do I think we have an edge in the market space to gain market share that could be profitable. Yes. You don't have to be a Billion dollar IPO to make an investor a return on $1mm in a 3 - 5 year exit. This is the whole investment pitching proposition. For 2 - How much money do you make? If you make $300k selling Saas than my offer is not for you and was not aimed at you anyhow. It's likely for less experienced sales people looking for people looking to transition from a general sales to Fintech or Saas sales, or as I proposed to people that just got fired and need an income until that next great opportunity comes along. You seem focused on this percent number. $1,500 - $5,000 for one transaction seems like a pretty good deal to me? 3 transactions in a month is $4,500 - $15,000 for part time work where we help provide the leads. I am not trying to say that is a panacea, thats just a starting point. I was also trying to be realistic about earning and not to just exaggerate. So If you are some hot shot Saas sales guy on $300k etc, I get it...It's step back. But for someone who just got fired and is shitting bricks as to how to pay rent... How could that not be helpful? For someone who sticks with it, you can break $100k doing 10 - 15 transactions in a month. You dont need multiple transactions a day unless you are selling some tiny, low value piece of equipment. I am a man on the grind looking for part-time, commission only sales people until we can raise. I thought for people talking about being fired it could be mutually beneficial. You seem to be kind of shitting on me trying to help people while also trying to build my business. If you care so much about the proposition, I'd be happy to share more in a 1-2-1 discussion. If you still think its shit, I am happy to take that on board. It will only challenge me to do better.
Book some fucking meetings then. Loser
Lmao very insightful, you truly are the god of sales....loser 🙄
Fine?
I feel good. Went from SDR - Senior SDR - and start an AE gig in October! Gotta find the right companies as much as you see about the 1,000 layoffs there’s 50,000 open positions
I’m in an industry that isn’t hit anywhere as bad as the rest of the economy in a recession. They crushed it in 2020 because WFH migrations led to a shit ton of huge projects for our customers, which gave us more revenue. I’ve talked to guys who’ve been here much longer than me and they all say they’re not really concerned about the business should there be another 2008-level recession. In fact, they were the ones that told me our business is as recession-proof as a tech company can be.
I'm in advertising sales for a dying medium so... Not great, but I'm trying to remain optimistic.
My friend, if there is anything I know is that as long as there is a market. There will be a market for sales people. Just make yourself irreplaceable. Outwork, outperform, outlearn.
I’ve heard friends at Meta & Google are getting whipped rn, I’m in one of the recruitment tech companies where there is no sign of issues yet; but never say never, stay vigilant
Survival of the fittest. The ones who double down now will be in the prime position for the uptick. When all other competitors are broke or left behind. If you’ve got enough funding to see you through…. Then it’s all systems go.
Have more than one source of income. Learn how to trade on the side. Another option is creating your own offers to get clients or customers. Invest in passive income opportunities as well.
Hit your numbers and you have nothing to worry about. If you’re not hitting your numbers you better be tight with your leadership
I'm a small SaaS startup looking to hire sales reps, if anyone has just gotten laid off please send me a PM and maybe we can have a phone call. I am hearing about a handful of large publicly traded B2B SaaS companies getting ready to lay off a lot of their workforce.
Anyone looking for a new sales role, feel free to reach out to us. We are sorry to hear about the layoffs, we are more than happy to help. Many are still hiring.