I am the founder (100% ownership ) of a Startup which is launching a site ( Presently in stealth mode ) and addresses an UNMET Market need ( I hired developers on need basis and have spent my own $$ and countless hours building what we have now ).
Market Size is 100 Billion $. Pitched to few angels ( NOTABLE) who seem to be very much interested but are waiting to follow than to lead . I started to build my sales pipeline. Initial demo with one of the client's c level executive went very well who asked me to provide a proposal so we can move to the next stage. Others have expressed interest in licensing our platform to run verticals as well.. we are getting ready to launch and are not waiting for Angels or VC's to come in and are on target to building traction . we are close ( 2 Months) to being a revenue generating company and Making a mark in the industry with our offering. That being said , we are looking to bring in a CEO level person to join our team who has past experience in a management role , who will be the face of the company and engage in discussions with c level executives , Raise Series A capital,Establish Partnerships, handle all the corporate matters - Company valuation , Company strategy , steer the company to become the next LEADER.
This person already believes in our vision . Of the four CEO level candidates we talked to , this person understands the potential of our concept/technology and has shown great excitement to join our team.
My question(s) 1. What should be the equity that I should be giving this person ? 2. Should the vesting be time based or performance based or a combination of both 3. Cannot pay salary - should the salary be deferred ? or this person should work for equity ? 4. Should the salary be at some % of the industry based CEO salary ? if so what percentage? 5. Should the equity be part of the option pool or founder shares? 6. Would this person be a co founder or just a CEO ?
While I can wait to bring in this person after the first sale , I rather prefer this person to be part of our team now due to our - Time to Market positioning - Lined up discussions with angels - Lined up demos of our product/platform
Any answers would be greatly appreciated.