Chad Peets: Why Most Sales Reps Underperform & Remote Reps Ignore Development | E1193

Chad Peets is one of the greatest sales leaders and recruiters of the last 25 years. From 2018 to 2023, Chad was a Managing Director at Sutter Hill Ventures. Chad has worked with the world’s best CEOs and CROs to build world-class go-to-market organizations. Chad is currently a member of the Board of Directors for Lacework and Luminary Cloud and on the boards of Clumio and Sigma Computing. He previously served as a board member for Astronomer, Transposit, and others. He was an early-stage investor at Snowflake, Sigma, Observe, Lacework, and Clumio. ----------------------------------------------- Timestamps: (00:00) Intro (01:15) The Way into Sales (07:09) Focusing on a Horizontal Customer Base (13:38) What Sales Leaders Bring Pre-Product that Founders Can't (15:51) What the Right Type of Sales Org Means (22:02) Fixing a Broken Culture Between Product & Sales (24:21) How Big Should ACV Be to Justify a Sales Motion (27:01) Are Founders Hiring Sales Enablement Early Enough? (29:57) Common Mistakes in the Sales & CS Relationship (31:32) Key Lessons from Building Snowflake's Sales Team (34:46) Hire Fast & Fire Fast? (39:30) Why Do Top Reps Turn into Non-Performers (45:26) What Makes a Great Sales Rep (53:17) Mistakes Founders Make in Timing Enterprise Expansion (01:02:23) Quick-Fire Round ----------------------------------------------- In Today’s Discussion with Chad Peet’s We Discuss: 1. You Need a CRO Pre-Product: Why does Chad believe that SaaS companies need a CRO pre-product? Should the founder not be the right person to create the sales playbook? What should the founder look for in their first CRO hire? Does any great CRO really want to go back to an early startup and do it again? 2. What Everyone Gets Wrong in Building Sales Teams: Why are most sales reps not performing? How long does it take for sales teams to ramp? How does this change with PLG and enterprise? What are the benchmarks of good vs great for average sales reps? How do founders and VCs most often hurt their sales teams and performance? 3. How to Build a Hiring Machine: What are the single biggest mistakes people make when hiring sales reps and teams? Are sales people money motivated? How to create comp plans that incentivise and align? Why does Chad believe that any sales rep that does not want to be in the office, is not putting their career and development first? Why is it harder than ever to recruit great sales leaders today? 4. Lessons from Scaling Sales at Snowflake: What are the single biggest lessons of what worked from scaling Snowflake’s sales team? What did not work? What would he do differently with the team again? What did Snowflake teach Chad about success and culture and how they interplay together? ----------------------------------------------- Subscribe on Spotify: https://open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466 Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465 Follow Harry Stebbings on Twitter: https://twitter.com/HarryStebbings Follow Riverpoint Capital on Twitter: https://twitter.com/riverpointcap Follow 20VC on Instagram: https://www.instagram.com/20vchq Follow 20VC on TikTok: https://www.tiktok.com/@20vc_tok Visit our Website: https://www.20vc.com Subscribe to our Newsletter: https://www.thetwentyminutevc.com/contact ----------------------------------------------- #20vc #harrystebbings #chadpeets #riverpointcapital #sales #venturecapital #salesperson #hiring #product #snowflake #saas