Why Hiring a VP of Customer Success at a Million Makes Sense

Name: Why Hiring a VP of Customer Success at a Million Makes Sense
Uploaded: 2024-03-28T13:05:19+00:00
Duration: 25 s
Channel: Jason M. Lemkin
Description: At $1 million ARR, hire a VP of Customer Success instead of waiting until $3-4 million. A strong VP can boost renewal rates by 10-20%, adding $100k-$200k…

28 Mar 2024 · 0 min

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At $1 million ARR, hire a VP of Customer Success instead of waiting until $3-4 million. A strong VP can boost renewal rates by 10-20%, adding $100k-$200k in revenue the next year, which covers much of their salary.

VP of Customer Success, a million is not too early to make your customers happy, is it? Most of us stumble because customers, especially if you sign annual contracts, they don't renew for a year. So we tend to start thinking about the VP of Customer Success around $3, $4 million in revenue. But what if you hired her at a million and she renewed another 10% or 20% extra? Got another $100,000 or $200,000 of money in next year. Would that cover the salary? At least a big chunk of it? So hire any great VP you can fire at a million.