My partner and I have started a media/content company that has some pretty innovative products to offer. We've been working on the prototypes and proofs of concepts for about 7 months now and are ready to go to market. I am the creative/content generator while my partner is the tech/programmer. But neither of us knows a damn thing about sales! Haha. Like I said, we've got a great product set that we know there is a demand for, but honestly, neither of us would be able to sell it at all. My partner is borderline agoraphobic and wouldn't pick up a phone under any circumstances to make a phone call. And I simply lack the sales knowledge to do the product justice.
However, I do know a very successful commercial director who I met at a previous startup and has a proven track record of successful ventures. He's very keen on coming on board to be the missing piece of the puzzle, which will be great for the team. But, my partner and I don't know what is fair/appropriate to offer our new potential "commercial director".
I'd love to hear what you guys would do in my situation. Is 10% equity spread out over four, 1-year vesting increments fair for a commercial director that will be handling ALL the sales side of things? Is 10% not enough? What would you offer? Beyond equity he also has to get paid in the meantime. What's a fair commission percentage? Does any of this sound like a remotely good idea. Haha.
Honestly, any guidance at all would be very helpful. Thank you!
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