We’re in a very interesting place right now in our company that I never expected to be in so suddenly…EVERYONE seems to want to work for us. And, I don’t just mean “jo schmos” - I’m talking VPs and Directors of the largest companies in our industry.

It all started about third quarter last year when our current VP of Marketing contacted us herself for a position in our company. It took a brief break and then recently, it’s picked up again (in a big way).

Just yesterday, I had a 90 minute chat with a Director from the largest company in our industry who is willing to jump through some major hoops just to work for us; the biggest of which is that she’s agreeing to take a 60% cut in salary! In place of a guaranteed high salary, she wants an incentive plan (profit-sharing and/or stock options). Of course this is MUSIC to a start-up’s ears.

Just 2 weeks before this, I had one of the MOST respected and sought after public figures in our industry contact me herself and ask for a potential job (we’re still waiting to see what happens at her company, if she decides to leave or not).

I love the attention, but it’s almost spooky.

It was less than 3 years ago that I went to my first industry trade show and sat there watching these very same people present on stage in awe…just the THOUGHT that they may let me even speak to them (so I could pitch them) would excite me. And today, less than three years later, I may be their “boss?”

Life in business can be surreal if you really think about it.

But, now here’s the dilemma - LISTEN UP - you may very well face this in your business (sooner than you think).

The “position” which this person I spoke with yesterday is applying for is not really “there” in our company right now. The way our small fast growing company hires right now is on the idea that each person will “create their own salary.” That means that by their addition we’ll be able to launch something that we may not have been able to launch otherwise.

So, if we hire someone and pay them $7,000 a month - they should be able to self-create at least that much in revenue to cover their own salary…

The current person would be applying for a position that may not “monetize” until fourth quarter this year or even later. So, until then, even though we’re getting her at a steep “discount” - we’d have to pay her salary out of our pocket and that would put a hold on cash that may be used for other things.

BUT…

She’s a true win, highly connected in the industry and the “cultural fit” is perfect. Furthermore, she truly believes in the things we’re working on.

This is definitely one of those “once in a lifetime” opportunities. If I don’t act on her right away, she’ll surely find something else and it will be VERY hard to get her later (if not impossible or at least very expensive). However, at the same time, would it be wise to put a hold on cash that may be better spent on other more immediately needed areas?

Usually I tell you what I’ve decided, but let’s do something different today - why don’t YOU tell me what YOU would do? - Leave your reply in a comment below.

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Tags: Hiring, talent, what would you do?

This entry was posted on Tuesday, March 25th, 2008 at 12:32 pm and is filed under Building A Company, Hiring. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.