Startup CEOs by nature are the companies first salesperson. They get the first client in the door and prove the MVP is successful. With a client or two buying the product, scaling growth is the next step. Hiring an experienced, successful Sales Leader is one of the most expensive choices a CEO can make.
A startup with a neat tool to help brokers (insurance, real estate, financial) sell on Facebook was getting traction. The artificial intelligence in the tool got the brokers new customers, faster.
The challenge was that the startup needed to sell hundreds of seats at once, not one by one to individual brokers. They need someone with experience in all three markets, which was nearly impossible to find.
The CEO had recently watched a webinar on fractional CxOs and reached out to FractionL for ideas. The FractionL team identified 5 different Chief Revenue and Business Development Officers with experience in the individual markets. The CEO was able to hire a Chief Revenue Officer for each segment essentially 1-2 days a week. The CROs walked in with existing contacts and the ability to “talk the talk” with broker’s companies.
By hiring three CROs, the CEO tripled his chances of finding the fastest adopters and developed new features by market segment. Uniquely the Real Estate segment adopted quickest, and once they secured an agreement with the Industry leader, they were able to scale the company in that segment first.This also provided credibility for the other market. Uniquely, tripling the sales staff without the cost identified the highest performing CROs to staff the sales team.