Im leading a start up venture, pre seed. I had the concept, blue prints etc for a proptech real estate brokerage start up. I was stuck and needed a CTO. I ended up meeting a biz developement person who has introduced me to a CTO and has said they are going to work with me to find VC. This is where im stuck. Once I find VC, Im not sure what lll need this person for. Obviously I wouldnt be where I am without this person but in saying that, once their role is completed, I dont know what fit they will have in the organization. How would you compensate this person? Whats fair?

  • xpatmatt@alien.topBEnglish
    1·
    10 months ago

    Is the person’s job actually is business development, then it doesn’t stop at finding VCs. They would take on duties related to demand generation, partnerships, and sales. Do they not have the appropriate experience for this? If they do have a decent network and good experience then it sounds like a good fit. If not, then I think business development is not an accurate way to describe with their doing for you

  • boldbydefault@alien.topBEnglish
    1·
    10 months ago

    This person may be a strong advisory board candidate if you can clearly articulate a set of low-effort (but high value) expectations for them that can continue on an ongoing basis.

    Don’t give them more than .5% on the company.

  • Jaropete@alien.topBEnglish
    1·
    10 months ago

    From what you write, it seems that you have not yet matured into a role of startup founder. You treat the CTO like an software contractor who is supposed to write the application and oed. This is not how even a contractor is treated, because further software development will take many years after launch. If the company grows its role will never be completed. If you don’t have a cofunder, also look for a CTO who will be your business partner whom you can trust and rely on. Look for a person who has all the skills you don’t have, not just technical ones.

    • Big_Gifford@alien.topOPBEnglish
      1·
      10 months ago

      Did you sign up to reddit just to say that? Im almost honored to be one of your first posts!

      My CTO and I have talked in great depth about their rule today and in the future. They are building the framework so that our product can grow as we grow and I vetted them for the long term.