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Throughout Daniel's tenure at Lightwater, he has successfully closed deals totaling over $130MM since January 2022. In this episode, we'll delve into Daniel's insights on the industry, his approach to successful acquisitions, and his experience navigating the complex landscape of asset management. Whether you're an industry veteran or simply curious about the world of acquisitions, this episode is not to be missed. Here's some of the topics we covered: Sales Training That Led To Multifamily The Asset Class That Daniel Purchases The Most Constant Communication With Brokers An Inside Look at Asset Management The Biggest Expense In Multifamily Real Estate What Does Success Look Like? To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com Please Review and Subscribe
About Matt Drinkhahn: Matt is a proud father of three young ladies and a happy husband to his queen Julie. He has made $130MM+ in career sales and 2500+ employees/direct reports/independent contractors. Matt coaches high-performers and their teams on the mindset and business systems that level up their games. He is the host of The Eternal Optimist Podcast which launched on May 13, 2022.In this episode, Jennie and Matt discuss:Evaluating your own personal level of achievementBeing an eternal optimist“You can pour more into the glass. It's refillable.”Key Takeaways:Do not compare your success to other people's success. Instead, evaluate your own personal level of achievement by asking yourself on a regular basis – Are you heading towards what your life goals are?We need eternal optimists in the world now more than ever - people who see things positively, and are constantly trying to figure out how to turn some of life's challenges into opportunities or something they can use to better themselves and the world.We, as people, are refillable; we fill through constant learning. But keep in mind that there's no point in learning if you won't implement it or put it into practice.Plan your strategy, then execute it. A person's success depends on his or her ability to take action."I always want to be constantly learning as to how today's challenges can be tomorrow's opportunities." – Matt DrinkhahnCONNECT WITH MATT DRINKHAHN:LinkedIn: linkedin.com/in/mattdrinkhahnInstagram: https://www.instagram.com/coach_drink/?hl=enFacebook: https://www.facebook.com/profile.php?id=100063609038860Twitter: https://twitter.com/MDrinkhahnYouTube: https://www.youtube.com/channel/UC0cCuNIfmKFjQleWQpy_3GQEmail: matt@proadvisorcoach.comCONNECT WITH JENNIE:Website: https://badassdirectsalesmastery.com/Email: jennie@badassdirectsalesmastery.comFacebook personal page: https://facebook.com/jbellingerPLFacebook podcast page: http://facebook.com/BadassDirectSalesMasteryFacebook group for Badass Crew: https://facebook.com/groups/BadassDirectSalesMomsInstagram: https://instagram.com/BadassDirectSalesMasteryPersonal Instagram: https://instagram.com/jenniebellingerLinkedIn: https://linkedin.com/in/BadassDirectSalesMasteryAudio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
Kenny has been investing in multi-family real estate since 2010. Soon after, he co-founded Wolfe Investments (originally Wolfe RE Mgmt) in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio. Kenny is passionate about ensuring the success of every investment for his loyal investors. Prior to co-founding Wolfe Investments, he served as CFO for Twin Cities Development, LP. Kenny has a BBA from Baylor University and an MBA from the University of Texas at Arlington. When he's not scouting for new deals, he enjoys discovering new vegan restaurants, rooting on the Broncos, and spending time with his wife kids. In this episode Kenny talks about conversions of old office buildings into multifamily properties. He speaks in detail about the conversion of the Rockefeller building in Cleveland, OH into luxury apartments. His investors are projecting a 2.5x equity multiple. Kenny shares about other conversion projects and development projects. His team is investing nationwide and he shares why they are choosing mostly conversion projects. Connect with Kenny: Websites: www.wolfe-investments.com Facebook: Kenny Wolfe LinkedIn: Wolfe Investments Partner with us: www.pac3capital.com Follow the show on Instagram: @themultifamilytakeoff
In today's edition of Daily Compliance News: · FB whistleblower testifies to Congress. (NYT) · Black Tesla worker awarded $130MM. (WSJ) · Zuckerberg having very bad week. (Bloomberg) Learn more about your ad choices. Visit megaphone.fm/adchoices
Kenny has been investing in multi-family real estate since 2010. He owns more than 4,000 apartments and has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio. 1. Listen and Learn on our Podcast, "10,000 Roads to Financial Independence": https://bityl.co/4l3z 2. Subscribe to our channel: https://ytube.io/3C4F 3. Check out more about Kenny: https://www.linkedin.com/in/kenny-wolfe-6762281/
On today's Friday Edition of The Passive Income Through Multifamily Real Estate podcast, we welcome Kenny Wolfe of Wolfe Investments. Kenny has been investing in multifamily real estate since 2010 and co-founded Wolfe Investments in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio and is here today to talk to us about what he has learned, and what he is still yet to discover, about asset management. As COVID-19 pushes the world into using technological tools to survive, the real estate industry is no different. We discuss the shifts happening to move more residents and prospects online, as well as the age-old power of skills such as remaining calm during this time of global uncertainty! Not only do we look at the present, and into the future in this episode, but we also honor the past by reflecting on the biggest lessons and challenges Kenny has faced throughout his 10-year journey in real estate. Take a listen to gain some wisdom from the past as we dive into the future!Key Points from This Episode:The top three things Kenny would tell his younger self about asset management.Why asset management is a great business to be in if you're a people's person.Kenny's best partners in asset management today and how he discovered them.The key differences between managing a 50-unit property and a 200-unit property.How Kenny's biggest success as an asset manager started out with a D-asset.Foundation issues: Kenny shares his hardest lessons learned as an asset manager.Discover how the world of asset managing might look three years from now.How COVID-19 is pushing more residents to online leasing, applications, and tours.The power of remaining calm, approachable, and communicative during this time.Tweetables:“Asset managing is harder than you think. It's not some part-time gig everyone's always talking about.” — Kenny Wolfe [0:01:35]“When my gut tells me ‘I can't breathe,' I know I've got to hire somebody.” — Kenny Wolfe [0:14:43]“This is pushing more of our residents and our prospects online.” — Kenny Wolfe [0:06:50]“My asset manager superpower is to remain calm.” — Kenny Wolfe [0:08:14]Links Mentioned in Today's Episode:Wolfe InvestmentsWolfe Investments on LinkedInWolfe Investments on YouTubeKenny Wolfe on FacebookRently.comAPT Capital GroupAPT Capital Group - YouTube Channel
This week real estate entrepreneur Devin Elder and I dive deep into what's changed for underwriting since last year including cheaper interest rates, the "COVID escrow" and much more.
Kenny has been investing in multi-family real estate since 2010. Soon after, he co-founded Wolfe Investments (originally Wolfe RE Mgmt) in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio. Kenny is passionate about ensuring the success of every investment for his loyal investors. Prior to co-founding Wolfe Investments, he served as CFO for Twin Cities Development, LP. Kenny has a BBA from Baylor University and an MBA from the University of Texas at Arlington. When he's not scouting for new deals, he enjoys discovering new vegan restaurants, rooting on the Broncos, and spending time with his wife and kids.
In this episode, Devin Elder, Founder of DJE Texas Management Group LLC, walks us through his transition from a corporate job to single-family investing to large commercial multifamily investing and how he has acquired over 2000 units. FREE DOWNLOAD: Fast-Start Investor Toolkit --> https://www.apartmentinvestingjourney.com/free-tool-kitKEY TOPICS:2:15 - What Devin was doing before real estate and how he got into the business3:35 - the importance of going "all-in"5:05 - the importance of networking with people who are doing what you want to do6:30 - how he made the jump from the corporate world and what were the steps that he took12:22 - how a mastermind group was critical in helping him to build relationships early on15:05 - the importance of knowing your goals and where you want to end up16:42 - his suggestion for 3 steps to carving a path into multifamily investing.19:45 - how bringing on a partner in his residential business freed him up to scale his multifamily business21:45 - how he's built his team over the years and what does it look like today23:15 - why he started a property management company26:45 - what markets he operates in and his thoughts of investing with an out of state deal29:15 - The importance of local knowledge31:15 - The biggest mistake he made that we could all learn from32:45 - what's the biggest win you've had on your journey32:30 - what's the best advice you have for someone looking to get into the multifamily space. KEY QUOTES:"I believe in paying for shortcuts... getting out there and doing it without a mentor is super risky""Multifamily is almost easier in some ways. Flipping houses is definitely a one-man show. Multifamily is so big it requires a team and functions more like a real business."ABOUT OUR GUEST:Devin Elder is sole owner of DJE Texas Management Group LLC, which manages all aspects of acquisition, repositioning, and sale of single-family and multifamily properties in Central Texas. DJE Texas Management Group has successfully completed over 200 Real Estate renovation projects since 2012, with renovation budgets ranging from $10k to $1.2MM+. DJE Texas Management Group currently has an ownership interest in over 1,400 units of multifamily in Central Texas valued at over $130MM.Devin earned a Bachelor of Business Administration from the University of Texas at San Antonio, and has been married to his wife Amber since 2008. They reside in far North San Antonio with their three children.CONNECT WITH OUR GUEST:Website: https://djetexas.com/CONNECT WITH US! Visit our Website: https://www.apartmentinvestingjourney.com/Connect with us on Facebook: https://www.facebook.com/apartmentinvestingjourney/?modal=admin_todo_tourFollow us on YouTube: https://www.youtube.com/channel/UCpmNIzpEzxGn5ZuNgjAVV-w/featuredFollow us on Instagram: https://www.instagram.com/apartmentinvestingjourney/Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/apartment-investing-journey/id1464256464LOVE THE SHOW? PLEASE SUBSCRIBE, RATE, REVIEW & SHARE!
Devin Elder, owner of DJE Texas Management Group LLC, joins us this week. Devin has successfully completed over 200 Real Estate renovation projects since 2012. He has ownership interest in over 1,400 units of multifamily in Central Texas valued at over $130MM. Devin is also the host of the DJE Podcast, a weekly show interviewing the top commercial real estate experts in the world.
5 Talents Podcast - Commercial Real Estate, REI, Financial Freedom
Want to know how to increase your income stream? You’ll love hearing from our guest, James Kandasamy. James is the author of Passive Investing in Commercial Real Estate and host of the Achieve Wealth Podcast. He controls approximately 1700 doors in commercial real estate assets valued over $130MM. James is an expert in Value Add Real Estate and he shares his expertise here![00:01 - 04:08] Opening Segment● Let’s get to know James Kandasamy○ With Achieve Investment Group● James gives us a bit of background on his story○ From single to Multifamily Syndication[04:09 - 09:16] The Magic of Value Add ● James talks about the team integrations within his business ● James breaks down the meaning of Value Add ● You can increase your income & decrease your expenses [09:17 - 17:12] Playing the Slow Game ● James talks about why he doesn’t go for Yield Play ● 100% debt with 125% income ● James talks about hitting the break-even point [17:13 - 25:43] Getting Your First Deal ● Hard work but low risk and high reward ● James shares first deal tips and advice ● James breaks down working through project management [25:44 - 32:13] The Journey to Today ● James shares how he currently manages his portfolio ● Learn to be a good project manager ● James’ investors’ journey to today ● Advice for how you should view real estate[32:14 - 43:38] Closing Segment● How to reach out to James○ Links Below ● James talks about his new book ● Any topics we didn’t touch on?○ There’s no reason for you not to get rich in the U.S., You just have to work hard○ A bit of James’ story coming into the States ● Final Words - connect with us Tweetable Quotes:“Value-Add is the cornerstone of any Commercial Real Estate, it is the prime reason people do commercial real estate. Otherwise we would just do single-family home". - James KandasamyResources:● 5TCRE Investments● 5TCRE Free ebook● Passive Investing in Commercial Real Estate ------------------------------------------------------------------------------------------Connect with James on LinkedIn @jameskandasamy, email james@achieveinvestmentgroup.com. Visit https://achieveinvestmentgroup.com/ and listen in to the Achieve Wealth Podcast to learn more. For your free book from James go to passiveinvestinginrealestate.com Connect with me:https://www.5tcre.com/FacebookLinkedInWatch 5T CRE on
This July, there was so much going on in U.S. politics and we saw it trickling into the coding bootcamp sphere. We also continued to see discussions around opening the gates of tech to more diverse, qualified candidates and reskilling initiatives as well as a fascinating new study about the effectiveness of the traditional technical interview. Plus, we dig into all of the recent news about bootcamp acquisitions, a $130MM fundraise, and 13 new coding bootcamps! bit.ly/Coding-Bootcamp-News-July-2020
Kenny has been investing in multi-family real estate since 2010. Soon after, he co-founded Wolfe Investments (originally Wolfe RE Mgmt) in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio. Kenny is passionate about ensuring the success of every investment for his loyal investors. Prior to co-founding Wolfe Investments, he served as CFO for Twin Cities Development, LP. Kenny has a BBA from Baylor University and an MBA from the University of Texas at Arlington. When he's not scouting for new deals, he enjoys discovering new vegan restaurants, rooting on the Broncos, and spending time with his wife kids. On This Episode: Kenny shares about the deals he’s working and the last. Sam and Kenny discuss how to keep investors happy when building deals. Sam shares the one word he teaches every underwriter he trains. Key Takeaways: Mitigate your risk of vacancy by having economies of scale. Larger properties or building a direct partnership can help you have more leverage with your third party management company. Don’t fall in love with every prospect. Kenny Wolfe http://MFInvestorNetwork.com (MFInvestorNetwork.com) http://www.zenithpartners.org/ (Wolfe-investments.com)
Devin Elder is a Real Estate entrepreneur and San Antonio native with a proven track record of repositioning properties, delivering quality renovated housing products to market, and delivering consistent double digit returns to investment partners. Devin has extensive experience acquiring distressed properties, managing renovations, raising private capital, and managing single family & multifamily investment property. Other investments include a vacation rental in Downtown San Antonio and passive multifamily investing. Devin began investing in Real Estate in 2012 and has grown revenue and profit every year since. Prior to his Real Estate investing career, Devin managed Sales Operations for 650 sales reps at a $2B medical device company headquartered in San Antonio. Previous corporate experience includes Sales & Management at Rackspace, a $1B+ technology company headquartered in San Antonio, Texas. Devin Elder is sole owner of DJE Texas Management Group LLC, which manages all aspects of acquisition, repositioning, and sale of single family and multifamily properties in Central Texas. DJE Texas Management Group has successfully completed over 200 Real Estate renovation projects since 2012, with renovation budgets ranging from $10k to $1.2MM+. DJE Texas Management Group currently has ownership interest in over 1,400 units of multifamily in Central Texas valued at over $130MM. Devin earned a Bachelor of Business Administration from the University of Texas at San Antonio, and has been married to his wife Amber since 2008. They reside in far North San Antonio with their three children. Mr. Elder is the host of The DJE Podcast, a weekly show interviewing the top Commercial Real Estate investment experts in the country, and is himself a regular expert guest on the top multifamily investment podcasts in the world. Devin has a broad network of experienced and trusted advisors, attorneys, brokers, investors, and accountants that facilitate the continued success and growth of DJE Texas Management Group. During downtime, Devin enjoys travel, family time, and is an avid reader, golfer, and musician. On This Episode: Devin talks about watching his retirement company get cut in half during the recession. Hear why flipping single-family homes is not a long term plan for success. Discover the importance of having an amazing team. Key Takeaways: Get around people who are doing what you want to achieve. If you have a high W-2, don’t waste time on smaller flips. Partner up to avoid mistakes on deals. Tweetable Quotes: “You’ve gotta have equity in something in life.” “Don’t do something you can pay someone to do for way less.” Devin Elder: http://Djetexas.com (Djetexas.com) See acast.com/privacy for privacy and opt-out information.
Have you been thinking about leveraging a mentor to either get your first (or next) deal? How can learning and investing be on the same deal table? Would it be a worthwhile investment? Kenny Wolfe has been investing in commercial real estate since 2010. He has been involved in over $130MM+ throughout TX, CO, LA, OK, and OH. Kenney shares his nerve-wracking experience, battling the odds in breaking through REI with a mentor. Let's figure it out how learning and investing can be on the same deal table!
On today’s Friday Edition of The Passive Income Through Multifamily Real Estate podcast, we welcome Kenny Wolfe of Wolfe Investments. Kenny has been investing in multifamily real estate since 2010 and co-founded Wolfe Investments in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio and is here today to talk to us about what he has learned, and what he is still yet to discover, about asset management. As COVID-19 pushes the world into using technological tools to survive, the real estate industry is no different. We discuss the shifts happening to move more residents and prospects online, as well as the age-old power of skills such as remaining calm during this time of global uncertainty! Not only do we look at the present, and into the future in this episode, but we also honor the past by reflecting on the biggest lessons and challenges Kenny has faced throughout his 10-year journey in real estate. Take a listen to gain some wisdom from the past as we dive into the future!Key Points from This Episode:The top three things Kenny would tell his younger self about asset management.Why asset management is a great business to be in if you’re a people’s person.Kenny’s best partners in asset management today and how he discovered them.The key differences between managing a 50-unit property and a 200-unit property.How Kenny’s biggest success as an asset manager started out with a D-asset.Foundation issues: Kenny shares his hardest lessons learned as an asset manager.Discover how the world of asset managing might look three years from now.How COVID-19 is pushing more residents to online leasing, applications, and tours.The power of remaining calm, approachable, and communicative during this time.Tweetables:“Asset managing is harder than you think. It’s not some part-time gig everyone’s always talking about.” — Kenny Wolfe [0:01:35]“When my gut tells me ‘I can’t breathe,’ I know I’ve got to hire somebody.” — Kenny Wolfe [0:14:43]“This is pushing more of our residents and our prospects online.” — Kenny Wolfe [0:06:50]“My asset manager superpower is to remain calm.” — Kenny Wolfe [0:08:14]Links Mentioned in Today’s Episode:Wolfe InvestmentsWolfe Investments on LinkedInWolfe Investments on YouTubeKenny Wolfe on FacebookRently.com
What are double net and triple net properties? Today you’ll find out! Our guest Kenny Wolfe buys Dollar General triple net properties with passive investors in a fund. Double and triple net commercial real estate is the best way to get away from fixing tenants’ toilets while still directly investing in real estate. Join us to learn how double and triple net real estate works!Quotes:“In double and triple net, you don't have as much operational risk as you do. multi family or single family”“Our goal is to double our investors money in five years on all of our deals in multifamily.”“It's all pretty much automated after you buy it, which is beautiful. It's real mailbox money”Get in touch:Wolfe Investments on LinkedInWolfe Investments WebsiteOther Similar Episodes:From Gas Stations to Multifamily with Kay Kay SinghThe Secret to The Perfect Investment with Paul MooreGuest Bio:Kenny has been investing in multi-family real estate since 2010. After which he co-founded Wolfe Investments (originally Wolfe RE Mgmt) in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio. Kenny is passionate about ensuring the success of every investment for his loyal investors. Prior to co-founding Wolfe Investments, he served as CFO for Twin Cities Development, LP. Kenny has a BBA from Baylor University and an MBA from the University of Texas at Arlington. When he's not scouting for new deals, he enjoys discovering new vegan restaurants, rooting on the Broncos, and spending time with his wife and kids.
Kenny has been investing in multi-family real estate since 2010. Soon after, he co-founded Wolfe Investments (originally Wolfe RE Mgmt) in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio. Kenny is passionate about ensuring the success of every investment for his loyal investors. Prior to co-founding Wolfe Investments, he served as CFO for Twin Cities Development, LP. Kenny has a BBA from Baylor University and an MBA from the University of Texas at Arlington. When he's not scouting for new deals, he enjoys discovering new vegan restaurants, rooting on the Broncos, and spending time with his wife kids. How to reach Kenny: http://wolfe-investments.com/ https://www.facebook.com/wolfeinvestmentsllc/ https://amazon.com/Investing-Dream-Acquire-Multi-Family-Financial-ebook/dp/B07BTKDD9Q?sa-no-redirect=1 Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch: Web: http://longviewacquisitions.com Email: dave.morgia@longviewacquisitions.com Instagram: https://www.instagram.com/longview_acquisitions/
Achieve Wealth Through Value Add Real Estate Investing Podcast
Kenny has been investing in multi-family real estate since 2010. Soon after, he co-founded Wolfe Investments (originally Wolfe RE Mgmt) in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio. Kenny is passionate about ensuring the success of every investment for his loyal investors. Prior to co-founding Wolfe Investments, he served as CFO for Twin Cities Development, LP. Kenny has a BBA from Baylor University and an MBA from the University of Texas at Arlington. When he's not scouting for new deals, he enjoys discovering new vegan restaurants, rooting on the Broncos, and spending time with his wife kids.
Dan Handford is a managing partner with PassiveInvesting.com and founder of the Multifamily Investor Nation. His portfolio consists of $130MM+ in multifamily assets in over 1,300 doors.
Dan is the founder of the Multifamily Investor Nation, which has 50 groups and 5,800+ members across the world. He is a Managing Partner with PassiveInvesting.com, focusing on investor relations and marketing. His portfolio includes 1,300+ units valued at over $130MM. He is also the co-host, along with his wife, of the daily podcast Tough Decisions for Entrepreneurs.
Dan is the founder of the Multifamily Investor Nation, which has 50 groups and 5,800+ members across the world. He is a Managing Partner with PassiveInvesting.com, focusing on investor relations and marketing. His portfolio includes 1,300+ units valued at over $130MM. He is also the co-host, along with his wife, of the daily podcast Tough […]
This week, the Bowery Capital team hosted Steve Bachert, VP of Sales at Uptake, to discuss "Taking a SaaS Account Enterprise-Wide." Uptake is a predictive analytics software company that captures new value for Fortune 1000 companies by connecting and analyzing massive amounts of untapped data. Experienced SaaS salespeople will be familiar with a common scenario: you've landed into a SaaS account somehow, whether through a division, line-of-business employees, or perhaps even just through a beta program. Now you're faced with the challenge of expanding that SaaS account to cover the entire organization (e.g. an enterprise-wide deal). In this episode, we'll discuss the what to expect and how to prep your org to guide those whale SaaS accounts to close. Things get complicated and burdensome fast when pursuing a company-wide enterprise deal. Especially when that SaaS account is a 500+ person organization, publicly traded and / or in a regulated vertical, you've got a whole new slew of potential considerations: security audits, F500-grade contract review, administrative requirements, regulatory & PCI compliance, DLP concerns, a new SLA / MSA scope, a new set of stakeholders getting involved from finance to IT, and much more. In our podcast, Steve and I started by defining the problem at hand, drawing on his deep enterprise sales experience at Uptake, Cloudera, HP and elsewhere: what does it mean to take a SaaS account enterprise-wide? We then broke down the how Steve has addressed this problem in the past, including amongst other things the common "tipping points" at which a SaaS account might be ready for that enterprise-wide pitch. In this week's episode, you'll have the opportunity to learn from Steve what to expect when selling big, what worked for him and what didn't, and how to best ready your sales organization for the onslaught of organizational overhead courting a F500-level contract can often bring. We finished the session with Steve's key takeaways for startup founders and early-stage sales leaders when first facing the challenge of bringing SaaS accounts enterprise-wide. Steve Bachert is the VP of Sales at Uptake, and the perfect guest to enlighten us on the subject at hand. Steve has over 12 years of executive sales experience, and over the course of his career has been directly responsible for over $130MM in revenue. Some of his previous roles include: Senior Director of Sales at Cloudera, VP of Sales at Hewlett-Packard, EVP of Sales & Field Operations at Digital Fuel Technologies, and VP of Sales at Parametric. Steve earned his BS from Northern Illinois University and received his MBA from Loyola University.
This week, the Bowery Capital team hosted Steve Bachert, VP of Sales at Uptake, to discuss "Taking a SaaS Account Enterprise-Wide." Uptake is a predictive analytics software company that captures new value for Fortune 1000 companies by connecting and analyzing massive amounts of untapped data. Experienced SaaS salespeople will be familiar with a common scenario: you've landed into a SaaS account somehow, whether through a division, line-of-business employees, or perhaps even just through a beta program. Now you're faced with the challenge of expanding that SaaS account to cover the entire organization (e.g. an enterprise-wide deal). In this episode, we'll discuss the what to expect and how to prep your org to guide those whale SaaS accounts to close. Things get complicated and burdensome fast when pursuing a company-wide enterprise deal. Especially when that SaaS account is a 500+ person organization, publicly traded and / or in a regulated vertical, you've got a whole new slew of potential considerations: security audits, F500-grade contract review, administrative requirements, regulatory & PCI compliance, DLP concerns, a new SLA / MSA scope, a new set of stakeholders getting involved from finance to IT, and much more. In our podcast, Steve and I started by defining the problem at hand, drawing on his deep enterprise sales experience at Uptake, Cloudera, HP and elsewhere: what does it mean to take a SaaS account enterprise-wide? We then broke down the how Steve has addressed this problem in the past, including amongst other things the common "tipping points" at which a SaaS account might be ready for that enterprise-wide pitch. In this week's episode, you'll have the opportunity to learn from Steve what to expect when selling big, what worked for him and what didn't, and how to best ready your sales organization for the onslaught of organizational overhead courting a F500-level contract can often bring. We finished the session with Steve's key takeaways for startup founders and early-stage sales leaders when first facing the challenge of bringing SaaS accounts enterprise-wide. Steve Bachert is the VP of Sales at Uptake, and the perfect guest to enlighten us on the subject at hand. Steve has over 12 years of executive sales experience, and over the course of his career has been directly responsible for over $130MM in revenue. Some of his previous roles include: Senior Director of Sales at Cloudera, VP of Sales at Hewlett-Packard, EVP of Sales & Field Operations at Digital Fuel Technologies, and VP of Sales at Parametric. Steve earned his BS from Northern Illinois University and received his MBA from Loyola University.
In this episode, originally from May 2011, Dave interviewed Matt Harris, the co-founder of Village Ventures. Two companies that Dave and Matt discuss in this interview are BankSimple and On Deck Capital. Village Ventures lead Simple's $2.9MM Series A Round in September 2010. In 2014, BBVA acquired Simple for $117MM. As for OnDeck Capital, Village Ventures participated in the Series A round in January 2006. OnDeck went public in December 2014 with a valuation of about $1.3BN. At the time of this recording, OnDeck had originated $130MM in loans. At IPO, it's origination volume was up to $1.7BN. In 2012, Matt Harris joined Bain Capital Ventures, where he leads the New York office and focuses primarily on financial services investments.