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You are asking for a sales guy but describe a CEO, co-founder or even an advisor. The sales guy isn't best suited for bringing on investors. Don't listen to th
by thekevan 16y ago
You are asking for a sales guy but describe a CEO, co-founder or even an advisor. The sales guy isn't best suited for bringing on investors.
Don't listen to the people who say don't bring on a sales guy. Most people haven't done it right in the past which is why they think it is a bad idea for everyone.
Find a hungry young performer who is willing to forgo a guaranteed compensation plan for a high potential compensation plan and pay them on performance. Somone with 3+ years under their belt, hopefully without kids and a high mortgage. (If they have renters subsidizing their rent: bonus points, that's a money minded sales person.) Use a ramp or draw if you have to. (Draw: is where salary now is taken out of future commissions. Ramp: it varies but maybe now they get X base salary and Z% commission and as the pipeline grows, they get a smaller base and higher commission.) I have been in sales for over 10 years and am dying to jump ship for a start up with potential but do not have the safety net at the moment.
Incentive-ize overperformance. Make their commission .75X at 0% - 75% of goal, X% at 76 - 100%, 1.25X% at 125%+. (Arbitrary numbers there, figure out what make sense for you.) You want to make them fight to make more money.
Don't think you have to bring in a seasoned VP of Sales from another company. They're like old Jaguars. Classy, expensive, impressive, high performance potentially, but you never know if they are going to start. Most of those guys are looking at you as a way to pass time between here and retirement. Maybe you can use the right one later, but not now.