lown a growing software based service company (top 3% of fastest growing companies in US). I’m one of the original co-founders and own a majority of the organization. However, I don’t have a passion for the work that I’m doing nor do I care for my board of investors for various reasons. I have a couple of questions: What are my options to liquidate my shares? Are there ways to do that without giving up equity? What are you experience with raisings series A rounds of capital? Have you ‘toughed it out’ until an exit to keep peace with the board?
So originally I started wearing a lot of hats doing everything from customer support, sales, recruiting software development etc. Since then we’ve grown quite a bit and we have a lot of people to handle various departments. I currently operate in a sales capacity. We recently (7 months ago) hired a VP of rev growth who the board suggested that we hired you to cover a lot of my roles and is getting paid a lot more than what I was (2-3x) and is severely under performing. The board has trust that he’ll be able to grow the company. I don’t share the same levels of confidence. I wouldn’t mind working in the business if I was getting a salary that was reasonable. actually I haven’t been getting paid since April of this year so l’m pretty much volunteering my time (my salary will be deferred since we’re going through a couple acquisitions right now). The board feels strongly about the founders working in the business, but doesn’t want to appropriately compensate me for the value that I’m adding and that’s what I’m struggling with.
What are my options to liquidate my shares? Are there ways to do that without giving up equity?
Shares and equity are synonymous.
If you own at least 51%, why don’t you pay yourself what you want? Almost nothing in your post makes any sense.