<\/p>\n
Just a few years ago, we were deep in the swing of a bull market, and a global pandemic struck to rock our worlds\u2026 followed by a spike in the market, inflation, war in Ukraine, <\/span>low unemployment rates, employee wages continuing to rise, economic uncertainty<\/span><\/a> amongst many tech layoffs, and a lot of chatter about a looming recession.\u00a0 Talk about a rollercoaster ride!<\/span><\/p>\n <\/p>\n This is the fourth time my career has experienced a \u201cdown\u201d time, and I\u2019ve noticed some common themes.\u00a0<\/span><\/p>\n <\/p>\n Life as a Founder is <\/span>hard<\/i><\/b>.\u00a0 Having to make decisions, not having all of the answers, and feeling fear are all constant companions.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Advice (solicited and unsolicited) is everywhere\u2026 from your board, advisors, investors, social media, articles, communities, and books\u2026 much of it is about cutting back, \u201cefficient growth,\u201d doing more with less, and downsizing.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Before you jump on any bandwagon, let alone the downsizing one, please STOP and think about your business, team, metrics, customers, and marketplace first.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Not all cuts are good, especially deep go-to-market (GTM) cuts.\u00a0 According to Harvard Business Review, those that downsize are <\/span>twice as likely to declare bankruptcy<\/span><\/a> than those that did not.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Why? Because they had a short-term mindset.<\/span><\/p>\n <\/p>\n It\u2019s easy to get paralyzed by fear and miss the big picture when times get tough.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Instead, focus on what you CAN control\u2026 your team, customers, and building sustainable pipelines.\u00a0\u00a0<\/span><\/p>\n <\/p>\n How?\u00a0<\/span><\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n Fear is a great equalizer where it can paralyze you or propel you forward.\u00a0 In down markets, breathe, and think about the long view.\u00a0\u00a0<\/span><\/p>\n <\/p>\n This is the most powerful framework you can follow:<\/span><\/p>\n <\/p>\n <\/p>\n Without the right people in the right jobs, and doing the right work, you will not have a strong pipeline, which means no customers, resulting in no business.<\/span><\/p>\n <\/p>\n This is why it gives me great pause for concern seeing so many deep layoffs in the GTM functions.\u00a0 If\/when you find yourself thinking about laying your team off to weather the storm, please think long and hard about how you\u2019ll sustain this flywheel for success.\u00a0\u00a0<\/span><\/p>\n <\/p>\n TL;DR founders, don\u2019t get caught up in the wrong hype; it\u2019s critical to measure what matters for your startup.<\/span><\/p>\n <\/p>\n <\/p>\n <\/p>\n Source:\u00a0 One of the founders I advise<\/span><\/i><\/p>\n <\/p>\n You\u2019ve invested a lot of money, time, and resources at the top of the funnel.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Why let all of that work go to waste?<\/span><\/p>\n <\/p>\n Just because a conversation went dark, the answer was \u201cno thank you,\u201d or an opportunity is stuck doesn\u2019t mean you should give up.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Doing so leaves so much opportunity behind if you\u2019re not nurturing your \u201cclosed lost\u201d or \u201cwin back\u201d opportunities.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Simply put, the graveyard is a goldmine.<\/span><\/p>\n <\/p>\n If your pipeline is drying up, look in the rearview mirror and get to work.<\/span><\/p>\n <\/p>\n <\/p>\n If you\u2019ve got money in the bank and struggling to execute, this is absolutely the time to hire.\u00a0\u00a0\u00a0<\/span><\/p>\n <\/p>\n How can you realize your goals, gain traction, adapt, create and deliver a winning strategy while growing and retaining your customers without hiring the right people?<\/span><\/p>\n <\/p>\n Just because you can talk to many people doesn\u2019t mean they\u2019re the right fit for you, and we all know how cumbersome that sifting process can be. If you struggled to hire well when the market was strong, it will only become more difficult now.<\/span><\/p>\n <\/p>\n <\/p>\n <\/p>\n So, what does this all mean?<\/span><\/p>\n <\/p>\n Carpe Diem!<\/span><\/p>\n <\/p>\n This is the time to set up your \u201cdream team,\u201d train them, give them the resources they need to succeed, and take the 2023 \u201cbull\u201d by the horns.<\/span><\/p>\n <\/p>\n Remember that the hard thing about hard things is that treading water is not an option. It’s time to take action. All you need to know is what to do.<\/span><\/p>\n <\/p>\n Most of all, not making or delaying a decision <\/span>is<\/span><\/i> a decision!\u00a0<\/span><\/p>\n <\/p>\n If you\u2019re sitting on the sidelines waiting for a talented gem on the cheap, waiting for that perfect person, or are afraid to make the wrong decision, it will hold your business back when it\u2019s time to catapult forward the most.<\/span><\/p>\n <\/p>\n After all, your competitors are using this time to set themselves up for the future. Will you be able to keep up?<\/span><\/p>\n <\/p>\n Pro tip: <\/b>\u00a0Use a <\/span>hiring scorecard<\/span><\/a> to define what good looks like for your business before you start the hiring process.\u00a0 So that when you see exceptional talent that fits your needs, you can take confident action and hire them quickly.\u00a0<\/span><\/p>\n <\/p>\n <\/p>\n It\u2019s critical to understand what to expect as you go to market.\u00a0 The marketplace speaks the loudest, and the reality of it is oftentimes different than your perception.\u00a0 This is especially true for going to market and building a team.\u00a0\u00a0<\/span><\/p>\n <\/p>\n One of the biggest pitfalls founders make is the time it takes to ramp up a new sales hire to build a repeatable, scalable pipeline.\u00a0\u00a0<\/span><\/p>\n <\/p>\n SMB will not be the same as enterprise, <\/span>each segment is nuanced<\/span><\/a>, and there is no one-size-fits-all approach.\u00a0<\/span><\/p>\n <\/p>\n <\/p>\n Doing small deals with big brands is NOT enterprise sales.<\/i><\/b><\/p>\n <\/p>\n It\u2019s <\/span>not a linear process<\/span><\/a>!\u00a0 The number of buyers in the journey (according to Challenger, it\u2019s over 11 people now), the time it takes to complete a deal, procurement, security reviews, RFP\u2019s, customizations, integrations, compliance, and the complexity of a deal given the number of departments with competing priorities are all <\/span>very<\/i><\/b> different.\u00a0<\/span><\/p>\n <\/p>\n It takes at <\/span>least a year<\/span><\/a> to build a solid enterprise sales engine.\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n <\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Source<\/span><\/i><\/a><\/p>\n <\/p>\n The buying committee doesn\u2019t include as many people, the risk isn\u2019t as significant, and deals are transactional with short sales cycles. <\/span><\/p>\n <\/p>\n If you\u2019re planning to ramp up a new market segment with a sales function to support it, it\u2019s important to set realistic expectations.\u00a0 <\/span><\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n These are a bit off the beaten path from what you normally read about, but they\u2019re incredibly important to keep the momentum going during a down market.\u00a0<\/span><\/p>\n <\/p>\n For salespeople, here are five activities to stop wasting your time on to save hours of time every week:<\/span><\/p>\n <\/p>\n <\/p>\n <\/p>\n Tools are meant to help us, not replace us. <\/span><\/p>\n <\/p>\n Companies that realize this to do the work without getting caught up in the shiny objects are the ones that are recession-proof.\u00a0<\/span><\/p>\nFocus on how you can help your customer:<\/b><\/h3>\n
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When this is your primary focus, you show up to:<\/b><\/h3>\n
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When this happens, you\u2019re able to:<\/b><\/h3>\n
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![\"Powerful](\"https:\/\/avenuetalentpartners.com\/wp-content\/uploads\/2022\/12\/unnamed-33-450x332.png\")
<\/span><\/p>\nThere\u2019s a goldmine in the graveyard<\/b><\/h2>\n
![\"Founders](\"https:\/\/avenuetalentpartners.com\/wp-content\/uploads\/2022\/12\/unnamed-34-388x450.png\")
<\/p>\nNow is the time to hire<\/b><\/h2>\n
\n<\/span>If you don\u2019t have the right people in place, strong leadership, or running too lean, it will be difficult to power through a tough market.<\/span><\/p>\n
\n<\/span>Contrary to popular belief, hiring remarkable people in this market IS hard and very competitive.\u00a0<\/span><\/p>\nSome food for thought:<\/b><\/h3>\n
\n
Reality versus perception<\/b>
\n<\/b><\/h2>\nEnterprise<\/b><\/h3>\n
![\"Not](\"https:\/\/avenuetalentpartners.com\/wp-content\/uploads\/2022\/12\/unnamed-35-450x350.png\")
<\/b><\/p>\n![\"B2B](\"https:\/\/avenuetalentpartners.com\/wp-content\/uploads\/2022\/12\/unnamed-36-450x351.png\")
<\/p>\nSMB<\/b>
\n<\/span>
\n<\/span><\/h3>\n![\"SMB](\"https:\/\/avenuetalentpartners.com\/wp-content\/uploads\/2022\/12\/unnamed-37-450x367.png\")
<\/p>\n
\n<\/span>With a shorter, less complex buying cycle, SMB sales are an entirely different beast. The sales process for SMBs is typically focused on volume and optimization. <\/span><\/p>\nMeasure what matters<\/b>
\n<\/b><\/h2>\n
\n<\/span>When I think about what\u2019s happening in this market, measuring what matters and doing the right things for your startup are key \u2013 especially regarding sales.<\/span><\/p>\nThese are a few key metrics to keep your focus on:<\/b><\/h3>\n
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\n<\/span>Focus on the tasks and metrics that are making a difference.\u00a0\u00a0<\/span><\/p>\nLeverage tools to keep things streamlined and organized.\u00a0<\/b><\/h2>\n