I have been working with a start up without pay for the last 8 months.
I have been a senior sales executive with tier one companies for the past 20 years. My position is to build and manage all sales and revenue functions within the company. My colleague will be the CEO.
The founder has two investors who have contributed $220,000 in seed money. It is a bootstrapped operation. Although we have not contributed hard cash, both my colleague and I have contributed considerable time and risk to help get this company on it's feet. We are in the process of finalizing employment contracts and are trying to understand what equity percentages are appropriate for our investment and the degree of risk we have undertaken. Starting salaries will be minimal (approximately 1/3 of customary) until we have supporting cash flows which will be at least another year.
Any guidance on this would be greatly appreciated.