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I had a recent email dialog with the founder of a company looking for a CTO for their startup. Did they really need a Startup CTO or Developer or both? And do I fit as a Part-TimeCTO , Technology Advisor , CTO Founder , Acting CTO ? He needed some kind of CTO and as well Developers.
For your first key hires, three, five, maybe as much as ten, you will probably not be able to use any kind of formula. For example, suppose you're just two founders and you want to hire an additional hacker who's so good you feel he'll increase the average outcome of the whole company by 20%. Stock vests for 4 years.
This week they set out to create their cap table and hire a CTO. The founders each have common shares that will vest over four years. The vesting schedule protects each of the co-founders in case one gets hit by a bus or decides to drop the project after a short period of time. Time to update the cap table.
Some great posts from April 2010 that talk to me in terms of being a CTO at a Startup. Redeye VC , April 13, 2010 Startup Development - SoCal CTO , April 23, 2010 Want to Know the Difference Between a CTO and a VP Engineering? Ben Casnocha: The Blog , April 15, 2010 Everyone I spoke with loved the idea.
Hire a CEO to Go Public. The VCs would hire a CEO with a track record who looked and acted like the type of CEO Wall Street bankers expected to see in large companies. The role of the independent member was typically to tell the founding CEO that the VCs were hiring a new CEO.). People had to actually pay you for your product.
Your highest priority right now is hiring the 1 or 2 people that are going to join your company and make a difference. There’s you and your killer CTO co-founder. Actually, who will get Steve Case to spend time in Seattle helping communicate the message to local leaders? With VC FDI the community gets more than money.
They were referring to non-founder engineers, most commonly the first hire for technology businesses. Every time a startup raises capital, all common shareholders are diluted. After a year, shares will vest in monthly or quarterly splits until the full grant is vested. How do you feel about that number?
A Part-TimeCTO Technology. Depending on the level of complexity and difficulty, it might not be the most efficient use of your time. Communication - Hiring a technical employee early on can sometimes result in a founder developer gap. In Plain English. Archive Jun 20th Sun In-House or Outsource?
Main February 23, 2010 Advice for CTO Founders: Dont Let Business Kill the Business Founding a technology company is an amazing thing. Too often, however, I have found CTO / Founders paired with business people who not only don't add value, but frequently detract from the value of the business. So my advice to CTO / Founders?
How long should people vest – four years? Investors routinely subject founder shares to vesting, but there is no rule that says that founders cannot, or should not, impose vesting on themselves. And the vesting doesn’t necessarily need to be time-based either. Five years? Buffer Pin It Digg Digg.
The most common comment in this long and complicated MBA Mondays series on Employee Equity is the question of how much equity should you grant when you make a hire. For your first key hires, three, five, maybe as much as ten, you will probably not be able to use any kind of formula. First, a caveat.
As a result, there is a much bigger supply of these people than there are of founders who can get a company to the point of hiring some early employees. Even better, executives will negotiate the acquisition price of their company down; in exchange for a larger amount of post-acquisition retentio n equity and accelerated vesting.
The reality however is that entrepreneurs should only play the equity game with newer, very focused firms that specialize in this practice and not traditional work for hire or a blend. Development firms that advertise part equity and cash are simply not mature in defining their model, and thus they have no business taking stakes in others.
We hired three guys from that batch and paid them in iPhones. Treat everyone you hire like a co-founder. It builds trust and earns buy-in from the people you hire. When you’re hiring folks, don’t promise equity upfront. Tiny, contracting market. Vest, young man. That is what gets people excited.
The negativity either impacted investment funding (venture capital fell off a cliff in 2009) or the customers they were targeted as was the case for Untitled Partners who were building a platform for fractional art ownership. Dwelling or being married to a bad idea is not a good way to allocate resources. 3 – Not the right team.
Update: The end is near, Expensify is hiring a.NET programmer! As you might know, we’re hiring the best programmers in the world. If you are a startup looking to hire really excellent people, take notice of.NET on a resume, and ask why it’s there. Expensify Blog. Expense Reports That Don't Suck. Sjoerd Franken.
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