Revenue Rocket #1

Welcome to the first issue of Revenue Rocket.

I speak to Founders every single day discussing the challenges in growing revenue, building sales processes, and scaling commercial functionals.

With 15 years of commercial experience helping VC-backed B2B technology companies scale revenue and transition from founder-led sales, I'm putting my knowledge and insight into this monthly newsletter to help early-stage start-ups with GTM expertise, sales best practice, and hiring insights.

The SDR vs AE Dilemma. What's right for you?

The decision between hiring an SDR or an AE can have a huge impact on your company’s growth. The right hire can protect your runway, increase your valuation, and create the repeatability needed for scalable success.

• SDR - If you’re excellent at converting opportunities when you get them, but you need more at the top of the funnel, an SDR might be the way to go.

• AE - If you’re at a point where you have too many opportunities on the table and can’t close them all, an AE might be your best first hire.

Understand the impact the hire has on your own role

Remember, hiring your first salesperson doesn’t mean you’re off the hook. If you hire an SDR, you’re still responsible for closing deals. If you hire an AE, you become a de facto head of sales, overseeing strategy and getting involved in the high-stakes deals.

In both cases, your role shifts to a more strategic position. You’ll need to sharpen your skills on analysing the pipeline, refining your ICP (Ideal Customer Profile), and ensuring your sales efforts align with your overall business strategy.

In this article I break down the trigger points for hiring both - and how to mitigate your risk.

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Build sales culture early

I speak to more technical founders than those with commercial experience. They’ve poured their heart and soul into developing an incredible product, but selling it? That’s a whole different challenge. The reality is that running an engineering team is vastly different from how you manage a commercial team. This disparity often leads to a critical gap in many startups – the lack of a robust sales culture.

How to build a sales culture in 6 steps

1. Implement a robust sales cadence

2. Develop a backward sales plan

3. Understand the person behind the role

4. Foster a competitive but collaborative environment

5. Invest in continuous learning and development

6. Celebrate successes, big and small

Businesses that successfully implement a sales culture will see a real transformation not just in their sales team, but across the business.

Learn more about how to build a robust sales culture early in your business.

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How to turn objections into opportunities

First, let’s talk about when objections typically crop up. In my experience, they can come at any stage of the sales process – beginning, middle, or end. You might encounter them in a cold email, during a call, or even at the final stages of negotiation. The key is to always be prepared.

Here’s a crucial insight I learnt in my 15 years in SaaS sales: Objections often stem from buyers looking for reassurance.

When I realised this, it completely changed my approach. Instead of getting defensive, I started seeing objections as chances to improve our sales process and better communicate our value.

Practical tips on how to handle objections better

I recently shared some practical tips with a founder on how to handle objections better and they had a massive impact. They are:

1. Listen actively: Don’t just wait for your turn to speak. Really listen to understand the root of the objection.

2. Ask clarifying questions: Dig deeper to understand the real concern behind the objection.

3. Validate their concern: Show empathy and understanding before launching into your response.

4. Provide evidence: Use case studies, testimonials, or data to support your claims and overcome objections.

5. Follow up: If you can’t address an objection immediately, commit to finding the answer and following up promptly.

6. Practice: Role-play common objections with your team to refine your responses.

7. Learn and adapt: Keep track of common objections and refine your overall sales approach to preemptively address them.

Read more...

Thank you for reading the Revenue Rocket.

I'll be covering all areas of GTM but if there is anything specific you would like to see covered in future issues, please just let me know.

Matthew, Co-Founder, Cosmic Partners

Author: Matthew Codd

I’m Matthew, I have 15 years of commercial leadership experience, helping VC-backed B2B technology companies scale revenue and transition from founder-led sales.

I use my experience to help early-stage start-ups with GTM expertise, sales best practice, and hiring insights.

I co-founded Cosmic Partners in 2022. We are SaaS sales recruitment specialists for VC backed B2B tech companies.

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