YouSaid · the spoken record

Rich Liu

lines on the record
58
first
2023-06-07
most recent
2023-06-07
sittings or episodes
1
sources
podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

  1. “If I get to the person who actually owns that budget and owns that decision and can speak to that with that quantifiable thing, then guess what? I can break through that. I can get my sale done even in a world where procurements, the enemy, ops is the enemy. Everybody who's not an executive has heard save money, save money, which means don't spend money on anything. We just had a large deal with a MLA 100 firm that we closed. And right now they're all looking to save money right now. It's tight times. And the sales rep and sales leaders got to the economic buyer and the CF, and it wasn't just one, it was like a CFO, the managing partner of the firm. And they'd been a customer. This was a large expand for years. And yet they were not thinking about us as anything more than an”

    2023-06-07 · The Twenty Minute VC · 20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “I was just on a call with a number of other COO, CROs, business leaders thinking everybody's sales cycle's slowing, everybody's seeing harder to get the deal, no budgets, fill in the blank. That early adopter, that product let sale does not work in a tight market. And that's not a bad thing. It does weed out the people who are disciplined and actually build a story versus not. But in a market like this, a couple things need to happen. The default is I'm talking to my CFO, I'm talking to my CEO. I'm not spending any money. Default is no. Don't even spend the time. Don't even open the door. The only time that I'm going to spend something is if someone convinces me, ooh, this thing is not what you think it is. It actually is going to solve the most important thing that you're afraid of right now, efficiency, sales productivity, support utilization, whatever those things are for me as a business owner, unless you can speak to me in a very clear and concise way about why what you do solves that in a quantifiable way for the thing that I'm afraid of most right now, I'm getting nothing done. Now, the flip side of that is.”

    2023-06-07 · The Twenty Minute VC · 20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Instead of like, you know, waiting for that perfect shot. And I think that was actually a huge learning I had that even at a much larger scale than many startups. And I know that they don't often think like that now because it's a massive corporation. Moving fast, trying a lot of things and really embracing that okay-to-fail mindset is huge.”

    2023-06-07 · The Twenty Minute VC · 20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Oh gosh, one of the things I learn most about that company, and I know that sometimes it's derided, is move fast and break things. Like the idea that you don't have to be perfect, but sometimes, especially in a fast-changing market, speed is at a 10x premium. That was a lesson that was huge for me. Hey, everyone, just try to do the right thing, experiment, move fast, break things, and maybe a few of these will work. And then we'll start doing more of that. To me, that was mind-blowing. But I think that really balanced out a lot of how I think about scaling now, which is there are times when you want to really strive for, we got to do things right. We got one cut at this thing. It's a glass ball. It's not a rubber ball. If we drop it, it's going to shatter to, okay, how many things are actually that, that if we screw it up, if we fuck it up, we can't go back and try to fix it, it's actually fewer than we think, especially when scaling because I know I'm not the smartest person in the room. If I don't have the best answer with all the data that's going to be right, why not have five more shots on goal?”

    2023-06-07 · The Twenty Minute VC · 20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Yeah, it was not quite Wolf of Wall Street, right? It was perfectly legitimate. The company's now $200, $300 billion in assets under management, like 5,000 employees. We were probably like 300 employees at the time, like really trying to get this like direct mail, direct thing to work. And I was an SDR. I was going out there cold calling wealthy people that we got to fill out junk mail reply cards for a little flashlight or a little booklet call a 1-800 number. And that was really it. And then doing a bunch of outfounding to cold prospects to try to build this.”

    2023-06-07 · The Twenty Minute VC · 20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Anyway, so why don't we give this thing a shot for a year? That was really it, right? I went into an investment company called Fisher Investments that was really transformational at the time, really trying to get people from all money management being distributed through your financial advisor or brokerage house to, oh, we're going to build this direct to consumer money management shop, what was junk mail, cold calling, and later internet advertising, search advertising to sell high net worth asset management into institutions. And so it sounded kooky, right?”

    2023-06-07 · The Twenty Minute VC · 20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “First of all, there's a lot of luck involved. I think it's a lot easier to see things going back than looking forward. But I started my career as an engineer, biomedical engineer. My parents are both engineers, we're immigrants. And so that idea of get a technical degree, get a technical background. And then you'll always have work to do was a little bit of what I grew up with. But after finishing, I realized, oh, wow, I watched the movies. I see TV and I really wanted to be some kind of a business executive. I didn't really know what that meant. And I thought, well, okay, this was during the dot-com bubble burst. So weren't a lot of jobs out there. And I was reading and doing my research and going, huh? It looks like a lot of these business leaders, these CEOs, they seem to have this like sales background. That's interesting. Maybe I should try that. And if I can't do it, if I suck at it, you know, I'll go back and take one of these engineering offers. I walked away from. And so my first job was I would think the base salary was like $20,000. And so it was like, well, if I can't make a good commission, I won't pay my rent.”

    2023-06-07 · The Twenty Minute VC · 20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “That early adopter, that product let sale does not work in a tight market. I'm not spending any money. Default is no. The only time that I'm going to spend something is if someone convinces me, this thing is not what you think it is. It actually is going to solve the most important thing that you're afraid of right now.”

    2023-06-07 · The Twenty Minute VC · 20Sales: PLG and Early Adopter Sales are Gone, How to do Sales Forecasting in 2023, Why You Cannot Do PLG and Enterprise from Day 1 at the Same Time and Which is Easier to Start, How to Onboard, Manage and Scale Reps with Rich Liu, CRO @ Everlaw · IDENTIFIED FROM THE TRANSCRIPT · source