Indian Startups Community

by StoicPhilosopher

Stealth

a year ago

COO position at a startup.

I was offered COO position at a startup. Both the founders are from Tech background and want me to overlook the day-to-day operations including marketing, sales, finance and customer success atleast for the next 1 year. Although the startup was started 2 years ago, it was in stealth mode and started generating a couple of lakh revenue in the last few months. Raised funds from family and friends round of about 1.5 Crore. What is the ideal equity amount that I can ask for considering the cash component is bare minimum?

LooseGoose

Stealth

a year ago

Anywhere from 20-30% I would say. Early stage startups are a lot of work, especially managing all the things you mentioned. Also depends on the industry, how many people would be working under you and how much you can delegate/automate.

WooterBang

Stealth

a year ago

Seriously? Who's going to give 20 to 30% equity after revenue has started?

LooseGoose

Stealth

a year ago

I would, if the profile warrants it and the candidate is aligned well with our vision and culture. Planning to bring on board a senior ops guy at around 10% equity but he's not full time.

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AITookMyJob

Startup

a year ago

If cash component is bare minimum, you should get atleast 10% How critical is the position for the startup's success?

StoicPhilosopher

Stealth

a year ago

It is in the Tech+Ops industry. Without a proper COO, they cannot make it.

AITookMyJob

Startup

a year ago

Go for atleast 10-15% IMO, depending on how much they've ownership given up in the first round to investors.

Learningmind

Stealth

a year ago

Totally depend on the future of the start-up, also it's a big bet if you are okay forgoing the equity in worse case scenario. Talk to co-founder COO directly on LinkedIn, here you might be getting suggestion from people like me who were never set on the seat

StoicPhilosopher

Stealth

a year ago

There is no co-founder COO. One of the founders is a CEO and the other is a CTO. Both of them are unable to manage the business.

Learningmind

Stealth

a year ago

I meant people who are in similar positions in other startups, I know people don't disclose their comp but worth trying

BlankRage86

Stealth

a year ago

My main concern is if you will be handling the sales you should be the seo rather than COO( though that won't happen). All I am saying is first be sure of the team because it's CEOs job to sell otherwise the CEO is CTO and CTO is director of engineering.

Learningmind

Stealth

a year ago

Build different scenarios and come up with rough valuation of the startup few years down the line, here you can take help from someone in the VC space

StartupBaba

Stealth

a year ago

You will get .5% to 1% on the higher side