Frank Slootman
👤 PersonAppearances Over Time
Podcast Appearances
I need to go find people that view that Not as a founder, but the partner to that founder that see that burden, that opportunity, the privilege of doing that is something that they want to do. And I think there are people out there that want to work that hard.
I need to go find people that view that Not as a founder, but the partner to that founder that see that burden, that opportunity, the privilege of doing that is something that they want to do. And I think there are people out there that want to work that hard.
When I joined, they had about 16 reps. And if you look at just sales capacity, that meant the capacity they had at about a million and a half dollars a rep was about roughly less than 30 million dollars. The goal for that next year was 100 million dollars of new business. I had 30 million dollars capacity going into it. I hired 150 people in less than 90 days and we did the 100 million dollars.
When I joined, they had about 16 reps. And if you look at just sales capacity, that meant the capacity they had at about a million and a half dollars a rep was about roughly less than 30 million dollars. The goal for that next year was 100 million dollars of new business. I had 30 million dollars capacity going into it. I hired 150 people in less than 90 days and we did the 100 million dollars.
When I joined, they had about 16 reps. And if you look at just sales capacity, that meant the capacity they had at about a million and a half dollars a rep was about roughly less than 30 million dollars. The goal for that next year was 100 million dollars of new business. I had 30 million dollars capacity going into it. I hired 150 people in less than 90 days and we did the 100 million dollars.
What happened was there was market pull for the technology. There was definitely a receptiveness to it. We had probably underserved the profile of potential customers. We probably didn't have enough people on the street. So there was some pent up demand for us. One of the things we did is we changed our pricing as well. So I got rid of some of the discounting modes that we were dealing with.
What happened was there was market pull for the technology. There was definitely a receptiveness to it. We had probably underserved the profile of potential customers. We probably didn't have enough people on the street. So there was some pent up demand for us. One of the things we did is we changed our pricing as well. So I got rid of some of the discounting modes that we were dealing with.
What happened was there was market pull for the technology. There was definitely a receptiveness to it. We had probably underserved the profile of potential customers. We probably didn't have enough people on the street. So there was some pent up demand for us. One of the things we did is we changed our pricing as well. So I got rid of some of the discounting modes that we were dealing with.
We basically doubled street price in that first quarter, which helped us double the revenue for that first quarter.
We basically doubled street price in that first quarter, which helped us double the revenue for that first quarter.
We basically doubled street price in that first quarter, which helped us double the revenue for that first quarter.
And because I had gone to that user conference and was watching the feedback from these customers, giving massive standing ovations to the founder, telling me this was the best technology they've ever purchased, I had a lot of confidence in the value of the product against the problems we were solving.
And because I had gone to that user conference and was watching the feedback from these customers, giving massive standing ovations to the founder, telling me this was the best technology they've ever purchased, I had a lot of confidence in the value of the product against the problems we were solving.
And because I had gone to that user conference and was watching the feedback from these customers, giving massive standing ovations to the founder, telling me this was the best technology they've ever purchased, I had a lot of confidence in the value of the product against the problems we were solving.
If I go back in ServiceNow, we knew that we wanted to take that company public in a year and a half to two years after getting there. That was just our mode of thinking. Our job was get liquidity for investors, take this company public, get it out in the public market so that customers would have visibility and understanding of who we were, what our financials looked like.
If I go back in ServiceNow, we knew that we wanted to take that company public in a year and a half to two years after getting there. That was just our mode of thinking. Our job was get liquidity for investors, take this company public, get it out in the public market so that customers would have visibility and understanding of who we were, what our financials looked like.
If I go back in ServiceNow, we knew that we wanted to take that company public in a year and a half to two years after getting there. That was just our mode of thinking. Our job was get liquidity for investors, take this company public, get it out in the public market so that customers would have visibility and understanding of who we were, what our financials looked like.
We wouldn't be portrayed as some small little Silicon Valley startup or San Diego-based startup anymore. We wanted to be a public company.
We wouldn't be portrayed as some small little Silicon Valley startup or San Diego-based startup anymore. We wanted to be a public company.
We wouldn't be portrayed as some small little Silicon Valley startup or San Diego-based startup anymore. We wanted to be a public company.