Investing in the Future of B2B Software with Andy Price
As Founder of Artisanal Talent, Andy is globally recognized for having helped build, and invest in, some of the most successful software startups in history. He has spent 26 years in the industry, built two companies as CEO in the exec search industry, and 2 years inside two of the top VC firms in the world (Redpoint and Index). He continues to work closely with, and learn from, the best VC’s in the history of the space: Mike Speiser (Snowflake Founding investor), Scott Raney (Twilio, Stripe, Hashi), Mike Volpi (Elastic, Pure, Confluent, etc.), Ravi Viswanathan (Plaid, MuleSoft), Eric Vishria (Confluent, Amplitude, Contentful, Benchling), Pat Grady (Zoom, SNOW, etc.), Hemant Taneja (Stripe, Livongo, Olive, etc.), among others. He worked for ~2 years at Index as an EIR, 1 at Redpoint as a Venture Partner, and has been fortunate to be a strategic Limited Partner of most of the top performing venture firms. In this interview, Andy discusses the world of recruiting and talent acquisition in the software industry. He shares the story behind the founding of his companies and how they connect capital and talent to help build iconic software companies. John and Andy delve into the changing landscape of recruiting, the importance of specialization, and the shift towards consultative recruiting. The conversation also explores the role of sales leaders in the recruiting process and the common misconceptions about replacing sales leaders as a company grows. Andy emphasizes the significance of owning the recruiting process and investing in talent acquisition. HERE ARE SOME KEY SECTIONS TO CHECK OUT [00:01:24] Introduction to Artisanal Ventures and Artisanal Talent. [00:04:36] Shifting search firms from transactional to contributing to a company's success. [00:10:47] Easy access to capital caused recruiting inefficiencies. [00:20:07] The four phases of company growth: product-market fit, deal stage, scale stage, and maturity stage. [00:24:08] We must plan for the future to avoid disruptions. [00:24:24] Balance between sales and implementing processes is crucial. [00:25:04] Continuity in leadership is vital for a company's stability. [00:25:18] Recruiting talent from large tech companies can be complex. [00:32:32] Sales leadership has become more complex and analytical. [00:45:22] Sales leaders should prioritize team cohesion over just increasing salaries. [00:47:37] Careful evaluation of the first CRO is critical for long-term growth. [00:53:01] The demand for enterprise sales expertise is rising. [01:03:34] AI can enhance candidate selection but won't replace human judgment. HIGHLIGHT QUOTES [00:45:22] "Sales execs sometimes resort to being transactional, just offering more money, but that behavior eventually tarnishes the team's reputation and trust within the company." - Andy Price [00:47:37] "Proper evaluation of the first Chief Revenue Officer (CRO) is crucial for sustained growth, and rushing this decision can lead to significant problems down the line." - John McMahon [00:53:01] "You have this gigantic industry-wide scramble for enterprise talent... It's all about efficiency, cost efficiency." [01:03:34] "I think as soon as the customer embraces how they would use technology to de-risk a hire, I think that's going to be a moment that's very similar." ADDITIONAL RESOURCES More tips for handling an RFP as a seller: https://forc.mx/3ELMidQ How to stack customer requirements in your favor: https://forc.mx/48oUxdF Learn more about Andy through this link. LinkedIn: https://www.linkedin.com/in/andyprice1/ Check out John McMahon’s book here: https://www.amazon.com/Qualified-Sales-Leader-Proven-Lessons/dp/0578895064