Winning in Tough Markets
with Itai Karelic, CRO at vHive
Navigating the world of startups can be both thrilling and challenging, especially in times of economic flux. In a recent episode of Tech Salescraft, Itai Karelic, CRO at vHive, shared his insights on leadership, unicorn potential, and the intricacies of building successful sales teams. As an experienced leader with a background in entrepreneurial ventures, Itai’s perspective offers valuable lessons for founders, sales leaders, and CEOs alike.
Success in the Storm
Startups have faced unprecedented challenges since the pandemic, and many continue to operate in tough economic conditions. With inflation rising and funding becoming harder to secure, startups must adapt quickly to survive. Itai emphasises the importance of resilience in this environment, highlighting that “you need closers and for closers you want success.” His focus on winning deals and learning from both victories and failures forms the cornerstone of his approach to sales leadership.
While failures are often seen as setbacks, Itai argues they can be powerful learning opportunities. In his experience, even failed startups can teach valuable lessons about market fit and the long-term strategy of scaling businesses. Understanding why a venture didn’t achieve unicorn status is just as important as knowing why another did.
Finding the Right Fit in Funding and Sales
In the competitive landscape of venture capital, selecting the right market and understanding its potential is critical. Itai’s past experiences at Greenlet Technologies underscored the importance of choosing ventures with significant growth opportunities. He recalled a crucial conversation with a Kleiner Perkins partner, who told him, “It sounds like a fantastic business, but it doesn’t move the needle on my fund.” This advice shaped his perspective on choosing markets with billion-dollar potential rather than niche opportunities with limited scalability.
Similarly, when it comes to building a sales team, Itai underscores the importance of finding individuals who are not just likable but also capable of execution. Salespeople in startups must be willing to roll up their sleeves and operate without the support systems typically found in larger organisations. As Itai notes, “The best ones are those who are both likable and execute.”
The Unicorn Mindset
Itai’s leadership at vHive, a company transforming industries with its innovative drone solutions, reflects his deep understanding of unicorn-building potential. Under his guidance, vHive has expanded globally, breaking into diverse markets from telecoms to renewable energy. His team focuses on closing large enterprise deals, with some transactions valued at over $15 million. Itai’s ability to move the company forward, despite economic headwinds, demonstrates the essential traits required to scale a startup to unicorn status.
Itai’s parting advice to sales and business leaders encapsulates his pragmatic yet optimistic outlook:
“Always make new mistakes. Make a mistake, learn from it, never repeat it.”
By continually innovating and learning from both wins and setbacks, companies can thrive even in uncertain times.