We really need someone out front creating buzz and connecting with our tribe. Our team is big enough to turn out a good product, support customers, and close deals, however, we currently don't have have anyone dedicated to PR, social media, and events and I think we're missing a lot of opportunities because of it. Finding a passionate marketing guru in our industry will be difficult and it seems like equity could help light the fire for an A player. Should giving up equity be standard practice for small software team? I've heard of giving up equity for an amazing designer, what about a CMO?
At a startup level, it's best to avoid c-level appointments. Could your startup benefit from someone who understands how to cost-effectively acquire customers and inflate word of mouth through PR and other types of outreach? Probably.
But keep in mind that attention is a two-sided coin. If your startup isn't prepared for more users and the increased customer support demand, increase to feature backlog, potentially critical reviews, then it may make sense to hold off on hiring someone full-time until you are a bit further along.
Generally speaking, anyone joining a startup should be motivated by their equity. Even if it's a quarter of one percent of the company (assuming of course that grant is stage-appropriate), that person should be motivated to work as part of your team to make that quarter of one percent worth a life-changing amount of money for that person.
Happy to learn more about your company and your current progress and help you evaluate your team needs at this point and in the near future.
Answered 10 years ago
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