Ask HN: Looking for Employee #3 How do I do it?

1 points by sph130 9 years ago | 2 comments

I am 39 years old first time (tech) founder. I'm looking for employee #3, VP of Customer Development - to help crack into a very tight networked group of customers in the construction industry. How do I do this? I am bootstrapping but the business has a 44M ARR potential in 5 years. How do I inspire the right person to join on commission and stake in the company?

smt88 9 years ago |

Poach from a company that already sells to those same customers (if you can)

sph130 9 years ago | |

Had the same thought - I'm a tech guy not sales, will these guys work for commission and stake in the company in lieu of salary? (Bootstrapping at the moment - have 3 customers after a month and ready to ramp up)

smt88 9 years ago | | |

I've known salespeople that will work for straight commission. You may not even need to offer a stake, although that might be a good idea to increase the chances of retention.

I'm a big proponent of bootstrapping, but you may still want to start the process of talking to investors or maybe even a bank. Asking someone to jump from an established ship onto your new ship is a lot easier if you have cash to guarantee them a salary.

Another thing to consider is partnering with a totally different company that sells to the same people. Their salespeople sell your product, and they get gratitude/commission. That doesn't work in all industries of course.