Questions

Depends on the vertical your business is in, the seniority of the candidate and the geography/ territory.

This is strictly shooting from the hip to get your headspace into options:

The compensation and KPIs should be twofold triggers, that is to say:

1. They determine rewards and incentives
2. They determine if the candidate gets to stay

I personally never respect someone in a biz dev or sales role who takes no risk.

In general a lower basic and heavy compensations for the first 3 months and then reassess.

At the end of the 3 months decide on: bigger salary and lower compensation or keep the status quo. If they're super confident, they will keep bigger compensations. To see how vested they are in the business, perhaps offer to let them have the option of converting some of their earnings into share options.

If you're selling into the agency and big brand space, the issue is a bit more difficult.

Why?

1. Sales can take up to 6 months to pull through due to agency and brand red tape;
2. Networks and existing rollodex are going to count for a lot to get sales rocking quickly. Getting in front of the right person can be a chore
3. Understanding the brand and agency speak and space allows for quick sales and lower bounce rates. So finding people from the space to sell back into the space is a major requirement. Those skills are not cheap.

There you go ;) Chew on this, enjoy the flavor.


Answered 7 years ago

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