Question
We really need someone out front creating buzz and connecting with our tribe. Our team is big enough to turn out a good product, support customers, and close deals, however, we currently don't have have anyone dedicated to PR, social media, and events and I think we're missing a lot of opportunities because of it. Finding a passionate marketing guru in our industry will be difficult and it seems like equity could help light the fire for an A player. Should giving up equity be standard practice for small software team? I've heard of giving up equity for an amazing designer, what about a CMO?
Answer
Only if you are giving equity to me. Just joking. You should definitely put your money where you mouth is. If you really want to grow then give equity. You can make this a tiered program which is fully vested after 4 years. 25% vested per year with the first 25% starting on the day one. 50% vested on the one year anniversary. The CMO has a vested interest from day one.
Michael T. Irvin
NoHogWashMarketing.com
"Get To The Top Without The Slop"
michaelirvin.net
