We are often brought into meet with Boards after a failed VP Sales hire. The most common mistake we uncover is when the VP Sales title is generalized and the hiring panel doesn't ensure the person they are hiring has been successful in a similar sized organization and technology and they have built a team to the size they would like to achieve.
Which VP Sales is the Best Fit
There is a notion that "Sales is Sales", but those are the people who may find themselves in trouble when hiring a Sales leader.
Types of Technology Sales
SMB, Mid-Market and Enterprise
Solutions, Products and Services
User Based, SaaS, Flat Rate and Freemium Pricing Models
Direct and Channel Sales
Types of VP Sales & Growth Benchmarks
Branding Guru: $0 --> $1M
Sales Operator: $1M --> $10M
Road Warrior Wrangler: $10M --> $35M
Dashboard Expert: $35M --> $100M
Global Delegator: $100M --> $250M
IPO Chaser: $250M ++
Average Compensation for VP Sales
Base Salary Ranges: $175,000-200,000K
Average OTE: $350,000-400,000K
Ramp-Up Draw: 3-12 Months
Focusing on personality or presentation skills are quick ways to fall flat when looking for your VP Sales. Determine which stage your company is at first in order to understand which type of VP Sales will be the fit for your organization today.
Understand Your Sales Cycle to Set Realistic Expectations
Ask yourself how long it would take for the entire process would take from beginning to end if you were to get an interested customer today, 3, 6, 9 or 12 months?
Your VP Sales will need to clearly communicate their expectations for closing leads and how to interpret their pipelines
Ensure You Have Access to The Entire Candidate Pool in Your Market
Posting job ads and looking at job boards will produce <10% of the potential VP Sales candidate pool in your desired market
The best VP Sales candidates are too busy to peruse job postings