A VC in Vacationland

It’s a two-way street. You want the best senior executives for your start-up and the best senior executives want to make the right decision about which company to join. 

How do you make it all come together for both parties?

Here are three ways to ensure that everyone is on the right page before final decisions are made:

• Set expectations–both sides need to write out what they expect in the relationship.  The candidate should detail working relations, reporting relations, etc.  The company needs to have a clear PD as well as additional info on performance goals.
• Present the package–I may be in the minority, but I always ask senior executives what they want in their pay/ownership package.  Some demur.  I tell them that’s the only way they will get an offer.  I may pay them more or less, but they want the job, so they should tell me what they want.
• Develop the Plan–I also ask the senior executive for his or her 1-2 year plan for executing  their position and a budget supporting the plan.  How else would you know if you are both on the same page?

Getting on the same page up front is a lot easier than discovering we all were reading a different book after a few months of corporate/executive marriage.