Wednesday anecdote: VP of Sales landed a new role with early stage start-up.
“They said they just secured their Series A funding. I’m not sure what that means,” she shared. Our client, a successful sales leader, spent most of her career working for large established companies. This opportunity was new territory for her.
“It means they are still early in the process,” I shared. “A VC fund invested somewhere close to $10M to help them develop their product and their team to demonstrate it has some legs to penetrate the market.”
“That makes sense,” she agreed. “I think there’s only the two founders and about 10 other people right now. They want me to help them build a sales team.”
She asked my thoughts about the opportunity. The product seemed good and the team looked capable. The opening offer on compensation was a little low, which is not unusual for a start-up. They try and keep it skinny and dangle the lure of equity.
“We need to work on improving the base and bonus,” I shared. “While the equity sounds nice, you won’t be able to sell it for years and in most cases it doesn’t pan out to be worth anything.”
She understood and negotiated successfully for a better package. Time to make her new company grow.
Endeavor Agency is the nation’s leading career agency for executives. Endeavor helps executives, physicians and professionals find jobs. Our team prepares clients for interviews and our clients win job offers far more often. Endeavor helps clients negotiate better offers and employment contracts.
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