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Single founder. Thinking about brining on someone as a CEO?

I am in a single founder scenario where I built a good product (vetted, and tested, with a few customers) but found that while I am good at building the product I still lack in marketing and business development. Small bootstrapped operation, so I do not have the funds to bring on a CMO or COO but weighing two options.

A) Do I advertise a CEO position in exchange for equity and I move to a CTO while being chair of the BOD

B) Market for a CMO / COO like role on like angellist for equity?

Anyone have experience with the latter? I feel A would yield better results (shows that I am serious) then B but curious to hear from others.

  • Why don’t you find sales people with the promise of a percentage of revenue of clients they bring in as long as the customer stays with you?

    Bring him/her in with the understanding that once they have proven themselves, the agreement going forward would switch to equity but they’d no longer get revenue on new customers.

    This way its a win/win.

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  • The key point is vision and strategy. It is obvious you will be a good CTO, because you can make a product. And maybe you could be the best CEO. If you have a market vision and if you can create and develop a long term strategy for your company, you will be a great CEO. Many people think they are skilled for a CEO role because they were managers or biz dev guys in large organizations. This is not true: those roles don’t imply strategic skills.

    I think you should enroll a CMO / COO and develop your company. During this process, you will have lots of exchanges and field experience with your startup-mate. After a while, you will see clearly who will be the best CEO for the company future. It may be you, or the other person. But don’t assume he or she will be the best just because you are not enough self-confident with a skill you never practiced.

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  • A – find a hustle CEO and give them 40% with a cliff and vesting schedule .. Give them extra 10 if they raise funds and hit goals

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