Question

Topic: Other

What Is The Best Way To Find Our First Sales Superstar?

Posted by Anonymous on 1/19/2004 at 12:58 AM ET 125 Points
My company is in the process of trying to hire our first sales person. We have been focused on trying to find that right person through referrals, but have had no success.

The major obstacle that we have is this; we cannot afford to offer a salary just yet. We are a startup company and at this point myself and two partners are generating enough revenue to get things going, but not much more right now. This reality seems to cause candidates to tune me out before I can finish explaining the rest of the compensation package.

I have been told that I will probably never find a good sales person without offering a good salary (forget the fact that anyone who may have experience in our industry may be interested) but I am trying to remain positive. We have a widely accepted product and service mix in an industry that is at best highly fragmented, so this is an excellent opportunity for the right person. Problem is, I am beginning to wonder if that person exists.

Does anyone have any experience with this type of situation and if so, how have you handled it? Any ideas on how to generate interest in this opportunity?
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  • Posted by Blaine Wilkerson on 1/19/2004 at 6:09 AM Accepted
    Having been faced with this problem MANY a time, the one sure way to get a quality person with special skills is to offer them a % share.

    For a salesman, I wouldn''t offer more than 1-3%. Now if he is some sort of phenomenon with multiple "high level contacts" and has a lot of relative experience, then and ONLY then should you condier offering a higher %.

    I would caution you about using the term "partner". No matter if he turns out to be a ding-dong or a hero, you don''t want to have him arguing with your requests and going around telling people it is "HIS COMPANY" since he owns stock!

    Instead, I would use a high profile TITLE such as "Executive Sales Director" or "VP of Sales". Doing so will establish a perceived chain of command.

    When I bring "partners" on board in this manner I am VERY careful to relay the parameters and the extent of their executive privilege. Most of the time, I make the employ/percent offer contingent on performance within a 30-90 window, depending on how much time we have to start developing a sales revenue, which usually depends on current company strategy and available capital.

    Although this approach makes choosing a salesman much more complicated, at a start-up phase, it is an excellent incentive and a "cheap" way to aquire a quality person.

    Good Luck!
  • Posted by ReadCopy on 1/19/2004 at 9:02 AM Member
    Absolutely agree with Jett.

    You have to remember the two different kinds of sales guys (the Hunters and the Farmers).

    You are definatly after a hunter, someone who can bring a kill back into the business, these guys do not stay loyal to any one organisation, there are there to get the most out of the business and move on.
    That said, in my experience Hunters are more than happy to be paid in a share of the business, they are risk takers, and as long as you can prove a future for the business, you shouldn''t have much of a problem.
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