Startup employeeRecruitment software – B2B SaaSFast-growing co’s in 87 countries

Startup recruiterHiring for fast-growth technology companies (Mind Candy, Wonga, Google, eBay)

@_roblong

VC for a daypicking a startup to work for

Startup jobs are investments

The job

- Seed stage startup (<$1m raised)

- 0.5% equity with 3-year vesting

- $20k below market salary

Startup jobs are investments

Should you invest?

- $60k for 0.25% at exit(assume 3 rounds of 25% dilution)

- $150m exit for a 6x return in 5-8yrs(to match the risk profile)

- ..and that would be a good scenario!

Think like a VCExpect high levels of transparency

Evaluate the business fundamentals

Do your own research

Accept uncertainty, embrace risk

Don’t throw dice, make a calculated bet

Product

Is the product solving a real problem?

Is it good / better than the alternatives?

What’s the competition?

What do people use now?

Market

Who wants this product and how badly?

How much are they willing to pay?

How easy it is to reach them?

What’s the addressable market size?

Business ModelHow will the company make money?

What’s the lifetime value of customers?

What’s the customer acquisition cost?

Can the company build cost-effective and scalable distribution channels?

Check metrics vs industry benchmarks

TeamStartups are accelerated learning.

But you only learn if you work alongsidegreat / smart / cooperative people

You’re betting your career on theability of the founders to achievea rare success

This should be 80% of your decision

FinancingIs it well-funded? Check history andask for future financing plans

Ask for burn rate, run rate, runway

What milestones/achievements will beneeded to achieve next funding or profit

Ask VCs or angel investors for feedback

Work lifeWorkplace culture is more than free pizza

Learning and training opportunities

Work practices, tools, methodologies

Work ethic – startups are hard workbut beware of management by heroics

Due DiligenceAsk for references

Ask to speak to employees or investors

Get feedback from friendly investors orentrepreneurs

Google founders, employees

Ask customers

Be diligent, NOT paranoid

Startups are messy and risky. Don’t expecteverything to add up 100%

If it doesn’t feel a bit risky, you came late

Do it before 30 if you can

If it fails, it’s not the end of the world

Are you hiring?

Workable is a beautifully simple recruitment tool for startups and fast-

growing companies. Try it out at www.workable.com