SaaStr 178: 10 Key Lessons From Scaling Marketo to IPO with Phil Fernandez, Former Marketo CEO & Venture Partner @ Shasta Ventures
The Official SaaStr Podcast: SaaS | Founders | Investors - A podcast by SaaStr
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Phil Fernandez is a Silicon Valley veteran, with more than 35 years of experience building and leading breakout technology companies. Phil co-founded Marketo in 2006 and led the company as Chairman and CEO for a decade, overseeing its successful IPO and acquisition by Vista Equity Partners. Prior to Marketo, Phil served as president and COO of Epiphany, an enterprise customer relationship management (CRM) software company. Today, Phil is a Venture Partner with Shasta Ventures, the fund with a portfolio including the likes of Nest, eero, Zuora, Canva and many more incredible companies.
In Today’s Episode You Will Learn:
- When is the right time to hire your first CRO? Where did Phil make a big mistake in who owns what revenue numbers? What are the traits that make the best CROs? How should they look to work with both sales and marketing to drive efficiency internally?
- Why does Phil believe you must hire the most senior Chief People Officer as soon as you can? What does the role of “Chief People Officer” really embody? How should they look to work with HR internally? Who should they report to? How does this role change with a scaling organisation?
- How has Phil seen the relationship between average contract value and potential for expansion change? What is the correlation between and ongoing services component and both customer NPS and expansion? Where did Phil go wrong with this at Marketo?
- How should emerging SaaS startups today be thinking about technical legacy debt? Why does Phil believe it is never to early to have a Head of Research function? How should this function work with the team to build the latest technology into new products?
- Why did Steve sell Marketo to Vista Equity Partners? What was the thesis and big learnings from that experience? What does Phil mean when he says he did not “watch the clock properly’’? How can founders today be proactively thinking about ramp time for sales reps, new product engagement etc.
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