Bullingstone Associates

Is the rise of the first-time SaaS CRO continuing? The data from Q3 says it’s holding steady at least. After tracking new CRO appointments in Q1, I’ve crunched the numbers for Q3 in B2B SaaS companies (50-1000 employees). Here’s the breakdown: 🌍 Europe:  75% of CROs appointed in Q3 are first-timers, showing a huge emphasis on promoting and hiring talent into the C-suite for the first time. Experienced CROs: 25% First-Time CROs (External Hire): 46% First-Time CROs (Internal Promotion): 29% This is consistent with the 75% first-timer rate I saw in the UK back in Q1. 🇺🇸🇨🇦 US & Canada:  The market is more evenly split, but first-timers still have the edge. 52% of new appointments went to leaders stepping into their first C-suite role. Experienced CROs: 48% First-Time CROs (External Hire): 29% First-Time CROs (Internal Promotion): 23% This remains very close to the 55% first-timer rate we saw in Q1. If you're an aspiring revenue leader, the path to the C-suite is more accessible than ever. Companies, particularly in Europe, are clearly prioritizing deep functional expertise and potential over a proven C-suite track record. This month, I'll be publishing my white paper based on interviews with GTM Operating Partners from Venture Capital and Private Equity firms on both continents. It explores some of the reasons why this trend could be happening. Stay tuned

The Secret to a Skyrocketing Career: A Mentor Who Pulls You Back to Earth Last week I spoke to someone who is racing upwards through a successful career. We spent quite a bit of time together, but one part of our conversation stayed with me. She was very modest, yet it was clear she's been on the ascent from the beginning of her career. One piece of advice from a CEO along the way particularly resonated with her. He pulled her aside and told her: 'You are doing brilliantly. Your team absolutely love you. I think you are fantastic. But your peers don't know you well enough.' The transition from just managing up and down to ‘managing’ sideways is an oft reported challenge. This was fantastic coaching for her first ELT appointment. Brilliant performers aren't perfect, and sometimes leaders hesitate to 'criticise' those who are excelling. It's not always easy to hear developmental feedback when you're doing a great job, but the best always want to get better. Here's to the leaders who keep pushing their whole team, who don't settle for good enough.

What mistakes are people making when hiring Chief Revenue Officers? I recently had the pleasure of being invited to speak with Warren Zenna for his always excellent CRO Spotlight podcast. I believe CEOs and others involved in hiring CROs, CROs themselves and those who wish to be CROs in the future would find value in this conversation. Warren is a true expert in helping companies understand how to prepare for a CRO and set them up for success. We share our opinions on what the problems are which make success harder than it needs to be for a CRO, and on how we can reduce them. A few topics we covered; - The challenge of short-term vs. long-term problem solving when hiring a CRO, and why companies often prioritize immediate fixes over strategic foundational building. - The idea that the CRO role is often seen as a "jigsaw piece" rather than a consistent best practice, making it difficult to replace when a CRO departs. - The importance of someone who wants to be a CRO demonstrating breadth of understanding and knowledge beyond just their specific expertise (e.g., sales), building strong relationships across the C-suite (CFO, CPO, Marketing, Customer Success). - Why experienced CRO candidates need to show enthusiasm for modern changes in the market, technology (like AI tools), and buyer journeys, rather than relying on outdated "sales is sales" mentalities. - The value of a CRO being able to articulate specific decisions and their rationale, rather than just generic achievements, when interviewing for a role. - The danger of a CEO hiring a "headbanger CRO" to make tough decisions they're unwilling to make themselves. YouTube https://lnkd.in/e6cxpFUF Spotify https://lnkd.in/eDgVxVt7 Apple https://lnkd.in/e--RqeQs

In an interview with a GTM Operating Partner last night I had a great answer to a question I ask everyone in the series. "What traits do you look for when assessing whether someone can be a Chief Revenue Officer in the future?" He started to say something, then paused and said, "well it's almost too obvious to say, and it's very simple, but I'll say it anyway... You need to get stuff done. It's amazing how many people just don't really get stuff done" Obvious? No one else has said it interviews so far Simple? Well, as he says lots of people don't do it. Correct? 💯

Are You Telling Your Own Story Effectively? I had coffee with a Chief Commercial Officer last week who'd just finished a meeting with a Chief Product Officer also looking for a new role. They'd agreed to be frank, and she told him something that truly resonated: he wasn't telling his own story nearly as well as she'd heard him present his previous company and its products. It was one of those moments where something obvious clicks. I see this more often than I realise. C-level executives are brilliant at selling their business's story, internally and externally. It becomes second nature. They often assume they'll be able to tell their own stories just as effectively, but that's not always the case. Beyond a simple lack of practice (please interviewees, practice telling your story!), it's also about the challenge of sounding humble while discussing achievements. Leaders are so used to talking about "we" and giving credit to their teams, that "I" can really stick in the throat. This is something I've started to actively look out for and help people with where I can. My advice to a Chief Revenue Officer I spoke with today, who hasn't interviewed in 26 years, was this: "Describe the problems faced with 'I'. Describe the decisions made with 'I'. Give the successful outcome as 'we'." For example: "When I joined, the immediate problem I faced was [XXXX]. I chose to do [YYYY]. I was really proud that we were able to achieve [ZZZZZ]." Keen to hear any other ideas like this from people.

Busy week of GTM Operating Partners interviews. Met some new, brilliant people for the first time. Two more this afternoon. I knew it would be interesting, it is, and I feel compelled to share some things as I go. One particular theme from conversations this week is red flags these GTM Operating Partners have when interviewing CROs. Beware the candidate who: Lacks GTM curiosity: If they're immediately pitching outdated playbooks or talk about tech stacks and outbound strategies that "don't work anymore," proceed with caution. They need to be modern on process and adaptable. Isn't truly data-driven: Watch out for vagueness on numbers, fumbling with data, or inability to walk through how they'd forecast or measure weekly ops to hit goals. A CRO needs to be "all over their numbers." Has a "hero complex": Those who believe they have all the answers, grandstand, or don't operate as a collaborative, coaching manager are a warning sign. Today's B2B sales is a team game. Neglects key GTM pillars: A CRO who doesn't understand or genuinely care about marketing (or customer success) will inevitably cause imbalances and neglect crucial parts of the revenue puzzle. Can't articulate tangible impact: If they can't clearly define the 3 biggest changes they'd make in the first 90 days to 6 months to drive revenue, it's a concern. By the end of an interview process they need a grasp of the business and its opportunities. Is defensive: Being unreceptive to constructive criticism or open learning indicates they might struggle to adapt and grow.

This week I kicked off a new interview series with GTM Operating Partners which will become a white paper. Very interesting conversations so far and some great people lined up. Over the past few years, there’s been significant growth in the number of GTM Operating Partners in both Private Equity and Venture Capital backed businesses — but there’s still limited understanding of what the role actually involves. This series aims to: - Shine a light on the realities of the GTM Operating Partner role - Give aspiring CROs better insight into how GTM thinking is evolving in PE-backed businesses - Offer a platform to share patterns, challenges and views from those doing the work Across the conversations so far, some clear themes are already emerging: - A shift from hero hires to building systems that scale - The complexity of supporting founders without disempowering them - Why sequencing is everything — and what to prioritise first - How first-time CROs are winning mandates over more seasoned candidates - The role of the Operating Partner as coach, translator, and strategic sounding board - The ongoing debate around CRO scope — and how different funds are drawing the lines If you are a GTM Operating Partner and would like to take part, or know one who you think would add value to this series then please contact me directly.

Great event last week from Startup Network Europe. Slightly ironically the best part was hearing AI experts speaking in a very 'human' way about the application of AI; compassionate, pragmatic, considered. Couple of items which made me think: - You can build it, but have you prepared your customers for it? - AI pretty redundant without powerful data and a powerful strategy; can be expensive and so a strong consideration for smaller businesses - There's quite a disconnect between how leadership teams think their teams are using AI and how they are using AI. And not really in a less/more way, rather how. I'm keen to keep learning, so was great event to be at. #LondonAIconference #startupnetwork

What is turning CEOs off experienced Chief Revenue Officers and causing them to give the job to first timers? A CEO friend I know (who is not in SaaS) told me he interviewed a couple of sales leaders last year. He said they had clearly been successful and made money. But they gave the air of "done it before, can do it again, no problem", which really put him off. Experienced CROs: Your experience IS valuable. It CAN BE an advantage. But we're living in an ever-changing world where we all know that none of us have all the answers. CEOs want to see: - I am excited about how buying and selling SaaS is evolving. - I don't know exactly what that landscape will look like in 3 years time, but I know for sure it will be different. - How I lead my next revenue organisation will be different to how I have led all my previous ones. And I'm looking forward to that! Crucially.... - My experience - the successes and failures, the good and bad decisions, don't mean I have all the ANSWERS. However they do give me a headstart on knowing what QUESTIONS to ask to make informed decisions and move in an informed direction. Unless you; A. Present yourself in this way B. Believe it C. Believe it D. Believe it You are going to find things tough.