Hiring a BDM for your SaaS business can happen at any stage of growth. It could be day one if you have plenty of funding or five years down the line when you add in an enterprise product to your freemium model.
If you have a great product and successful business, it’s inevitable the time will come when you’ll need to hire sales people.
For most, the likely scenario is you won’t have the resources to hire a VP of Sales straight away, or a whole team. You’ll be looking for a single BDM to kick things off.
However, hiring a single BDM will present some challenges and it’s unlikely you will learn a great deal.
It’s best to hire two to start! Why? Because without a comparison, you just won’t know what you’re missing! Let’s look at two possible scenarios if you hire one BDM:
Your BDM fails to perform:
They could blame you, your product, your company, your lack of marketing. This could all be true; however, the real reason could be it’s just a bad hire. If you hire two, one’s successful, one isn’t, then this will help you identify what works.
Your BDM overachieves:
Does the product sell itself? Are the deal sizes and customers being secured representative of what you are likely to win in the future? Or is the sales person just sticking to a sweet spot? It could just be you have a great sales person and this is as good as it gets for your product.
Hiring two BDMs will help you figure out more about your business and how to scale it. It will help you find out about new segments to sell into, how to sell at lower and higher pricing points and higher volumes. You’ll get all sorts of useful data that will help you formulate a successful sales model.
It will seem expensive to hire two to start, but it will pay dividends in the long run.