Graded Quiz: Breaking Into The World Of Tech Sales

Q: The term “Unicorn” was coined in 2013 by Venture Capitalist Aileen Lee. In tech, this term refers to startups that are valued at more than 1 billion dollars. True or False?

Correct, the term “Unicorn” within the tech industry refers to startups that are valued at more than 1 billion dollars

Q: Here are the typical stages of a startup lifecycle with one stage missing: Pre-Seed --> Seed --> Series A --> Series B+ --> _______. What is the name of the missing stage?

Correct, the exit strategy for the founding team at most tech companies involves going public in an IPO or being acquired by a larger corporation.

Q: The acronym SaaS refers to Software-as-a-Service, a relatively new way that companies are selling software. True or false: This involves the customer buying yearly access to a cloud version of the program as opposed to outright ownership.

Correct, within the SaaS model customers purchase access to a platform for a certain time period.

Q: True or False: The only way to get a job in tech is if you are a software engineer and know how to code/program.

Correct. There are other ways to get a job in tech outside of being a software engineer. A great way to get into tech is as a Sales Development Representative; from there you can move onto many different roles within your company.

Q: As tech companies grow and evolve, many are working towards a similar exit strategy. What is the final step in the startup lifecycle, one that marks the end goal that most tech companies would like to accomplish?

Correct. A sale/acquisition or IPO, also known as an exit, is the common end goal most tech companies strive to accomplish.

Q: Which of the following areas within tech have been a focus of recent growth and investment?

Correct. AI, Machine Learning, Big Data, and Cloud Computing are all horizontal innovations that will significantly affect almost every industry moving.

Q: Choose the best definition of tech sales.

Correct. Having open communication, understanding the clients’ problems, and helping them see how a solution could benefit them is very important within the SaaS business model. Because SaaS is subscription based, you must ensure that the client is satisfied and benefits from your product, or they could churn when the next pay period approaches.

Q: Which description of the tech sales process shows all steps in the correct order?

Correct, the tech sales process is extensive and sophisticated, and there are several steps that need to be taken before closing a deal.

Q: Which departments are directly involved with helping the sales team reach their revenue goals?

Sales Development teams are in constant communication with Product, Marketing, Engineering teams to help with client feedback AND notify clients on updated product features.

Q: What is the basic difference between the work of an inbound and outbound SDR?

Correct. These tasks match the roles of inbound and outbound representatives.

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Groundwork for Success in Sales Development

Graded Quiz: Breaking into the World of Tech Sales

16 Questions Week 1

Q:

The term “Unicorn” was coined in 2013 by Venture Capitalist Aileen Lee. In tech, this term refers to startups that are valued at more than 1 billion dollars. True or False?

Q:

Here are the typical stages of a startup lifecycle with one stage missing: Pre-Seed –> Seed –> Series A –> Series B+ –> _______. What is the name of the missing stage?

Q:

The acronym SaaS refers to Software-as-a-Service, a relatively new way that companies are selling software. True or false: This involves the customer buying yearly access to a cloud version of the program as opposed to outright ownership.

Q:

True or False: The only way to get a job in tech is if you are a software engineer and know how to code/program.

Q:

As tech companies grow and evolve, many are working towards a similar exit strategy. What is the final step in the startup lifecycle, one that marks the end goal that most tech companies would like to accomplish?

Q:

Which of the following areas within tech have been a focus of recent growth and investment?

Q:

Choose the best definition of tech sales.

Q:

Which description of the tech sales process shows all steps in the correct order?

Q:

Which departments are directly involved with helping the sales team reach their revenue goals?

Q:

What is the basic difference between the work of an inbound and outbound SDR?

Q:

What roles are involved in the different parts of the sales organization (from pre-sales, sales or closing, to post-sales)?

Q:

What is the main goal of the sales development team?

Q:

Business has moved online, and much of it is conducted via email. As a top-tier SaaS seller, why is it important to check your email first thing in the morning?

Q:

The amount of guidance and support an SDR has varies based on company size. At a larger, more mature SaaS organization you can typically expect to find:

Q:

Why is trust such an important aspect of any business deal?

Q:

With all the tasks that are tied to sales development roles, what should the main focus be for a top-performing SDR?