“I have an exciting sale position offer from a start-up company. Some details, I am 27 years old, I currently work at fortune 500 company making good money with limited upward mobility in the next year. The offer has a good commission plan IF the product sells and I get options. I am on the fence on making the move. Any advice?” Anonymous
Anonymous, sounds like you in a nice spot with a good job and a good opportunity. Thanks for some back ground information and I have some additional questions: How long have you been at your current company? How many years have you exceed quota? Do you like the sales culture of your current company? Are you married? Do you have any kids? Do you have a five year plan? I have a bunch of questions regarding the start-up and they will get their own section.
I have worked for three early stage companies. I have seen the pros (exciting culture, working with top management, options, etc.) and the cons (instability, no infrastructure, making payroll, etc.). You need to do your homework on the start-up. At all small companies cash is king: you need to know how are they funded (self, angel, vc); how much money they have in the bank today; what is their burn rate / monthly expenses; when they plan on being profitable; etc. I would get all of the funding answers first. Next I would ask start-up company questions: how much have they sold so far and how much did the clients pay. Some early stage companies give away their solution to get clients, which is understandable, but if a client has not spend their own money, it could take you a while to sell commissionable deals. How long have they been in business, how many employees, do they have references account, what is the exit strategy (going public, being purchased, life style company, generate cash). Then I would ask traditional sales interview question, what is the quota, what happened to the guy before you, talk to other sales people, get a detailed understanding of the comp plan. At a small company do not assume, insurance, 401k, vacation, etc. There is always a risk to start-ups but with the risk comes tremendous upside in commissions, options, and rapid career advancements.
Next I would take a hard look at your current position. You are only twenty-seven and if you see advancement in two to three years, the time will go very quickly. If you are exceeding quota and making good money be sure the upside rewards of the start-up has the correct risk balance of what you are giving up. As I get older, company culture and beliefs has become more important to me that just money and advancement. Do you like your current company and sales management?
Then, I would do a self inventory. You are still young and now is a great time to take a risk with a start-up. If you are a successful sales person you will always be able to find a job in the future if the start-up does not work out. Good sales people are hard to find companies, even in recessionary times companies are always hiring sales people. You may want to take the Kolbe online personality evaluation to get an understanding of your skill set (cost $60)
My response, probably did not make the decision for you but hopefully gave you some additional ideas to consider. You are in a very excited position either way.
Good Deciding and let us know how it goes! Reader Feedback, please click the comments below to give additional information on 'Joining a Start Up’ and I want your feedback on my response. Shaun P
Anonymous, sounds like you in a nice spot with a good job and a good opportunity. Thanks for some back ground information and I have some additional questions: How long have you been at your current company? How many years have you exceed quota? Do you like the sales culture of your current company? Are you married? Do you have any kids? Do you have a five year plan? I have a bunch of questions regarding the start-up and they will get their own section.
I have worked for three early stage companies. I have seen the pros (exciting culture, working with top management, options, etc.) and the cons (instability, no infrastructure, making payroll, etc.). You need to do your homework on the start-up. At all small companies cash is king: you need to know how are they funded (self, angel, vc); how much money they have in the bank today; what is their burn rate / monthly expenses; when they plan on being profitable; etc. I would get all of the funding answers first. Next I would ask start-up company questions: how much have they sold so far and how much did the clients pay. Some early stage companies give away their solution to get clients, which is understandable, but if a client has not spend their own money, it could take you a while to sell commissionable deals. How long have they been in business, how many employees, do they have references account, what is the exit strategy (going public, being purchased, life style company, generate cash). Then I would ask traditional sales interview question, what is the quota, what happened to the guy before you, talk to other sales people, get a detailed understanding of the comp plan. At a small company do not assume, insurance, 401k, vacation, etc. There is always a risk to start-ups but with the risk comes tremendous upside in commissions, options, and rapid career advancements.
Next I would take a hard look at your current position. You are only twenty-seven and if you see advancement in two to three years, the time will go very quickly. If you are exceeding quota and making good money be sure the upside rewards of the start-up has the correct risk balance of what you are giving up. As I get older, company culture and beliefs has become more important to me that just money and advancement. Do you like your current company and sales management?
Then, I would do a self inventory. You are still young and now is a great time to take a risk with a start-up. If you are a successful sales person you will always be able to find a job in the future if the start-up does not work out. Good sales people are hard to find companies, even in recessionary times companies are always hiring sales people. You may want to take the Kolbe online personality evaluation to get an understanding of your skill set (cost $60)
My response, probably did not make the decision for you but hopefully gave you some additional ideas to consider. You are in a very excited position either way.
Good Deciding and let us know how it goes! Reader Feedback, please click the comments below to give additional information on 'Joining a Start Up’ and I want your feedback on my response. Shaun P
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