I am a developer with a SaaS product that is bringing in revenue, but not enough to pay a sales person's salary (yet). The company shouldn't need outside funding. The product is generating cash flow, people love it, and it is ready to scale in the cloud. This product is in a $10M niche market.
The next goal is to establish key relationships with niche store fronts (where customers are) to boost sales, create buzz, build awareness. As a coder at heart, this is NOT my forte.
- How attract a great biz dev / sales person to this company?
- What would this person expect to be paid in cash, commission, bonuses, equity?
- What are reasonable goals. Should I set goals, or let the person propose some?
- What do I need to protect the company and myself? I'm thinking vesting, but at the same time I really want to set this person free and grow the company. I'm okay with ending up at 50/50, but the person would have to earn up to that.