5 Tips to Get From Series A to Series C in Just 13 Months
13 months to do Series A, B and C? It sounds unbelievable, but Mike Hann did just that as EVP of Revenue at Fabric. Now, he shares how he did it. Let’s find out more.
In March 2022, we finally got to stage our first in-person Sales Confidence event of the year. It was brilliant to see so many revenue leaders sharing knowledge, networking and enjoying themselves again at the stunning Andaz Hotel.
We’ve put together some articles based on the events’ talks, so even if you couldn’t be there, you can still get inspired.
Mike Hann is EVP of Revenue at Fabric – the API-first, headless commerce platform built for growth.
Since Mike joined Fabric in February 2021, it’s been a rocket ship. The company has scaled from Series A through B and then C in just 13 months, raising more than $300 million and taking its value to $1.5 billion. During his 7-minute talk, Mike shared five tips for sales leaders aiming for a similar trajectory. (All views are Mike’s personal thoughts, not those of Fabric. When you get big, you have to stay legal!)
1. Act stage/series appropriate
‘I spent eight years scaling a company before I joined Fabric. I thought I knew everything and thought I would be a board-level executive and spend all my time on strategy. I got a very rude awakening!’
When Mike started at Fabric, he had one AE and one SDR, so he had to be hands-on. Now the company has scaled, things are very different. The trick is to be in the weeds when needed, but take your CEO on the journey with you.
2. Get mentors
When you get a mentor, especially one who might be working two or three stages ahead of you, they can help you see around the corner and know when to pivot.
As well as formal mentorship, it’s a great idea to get a forum together of three or four people who do the same thing as you. It creates a safe space where you can talk about the stuff that goes wrong or makes you uncertain. You can go to your network with things you wouldn’t necessarily speak to your line manager about.
3. Always be hiring
Hiring shouldn’t be a tap that you turn on and off. It always lands you in trouble when the tap is off and people leave. It’s also hard to build a diverse team when you hire in fits and starts. Instead, always look to bring people on board.
Be super strict on your criteria so you don’t have to spend as much time interviewing. Then, if someone matches your specifications, you can take them through a much shorter process.
4. Lay the foundations early
As a sales leader, you’re like a mini-CIO with your own sales toolkit when it comes to technology. If a piece of tech in your stack isn’t working or isn’t helping you scale, don’t wait – rip it out!
To scale, you need the right tech in the right places. Anything else will just hold you back. Move fast to build the foundations that you need.
5. Document everything
Keeping a record of everything helps you scale faster. Make sure you track:
- Your sales process – in a constantly evolving sales playbook
- Calls with prospects and customers – to help you move from founder-led to AE-led sales
- Your expectations – how you want your team to use tools, coach team members etc
Over to you
Thanks to Mike for such excellent tips from a rollercoaster sales journey. Now, we want to know what you think. How do you keep everything together in a fast-growing company? Let us know with a comment below.