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?
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