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A startup had 12 months of runway left. The lead VC was concerned. He wanted a successful fundraise. He wanted paper returns. He was in the process of raising a new fund! He hired me as a CTO coach for a month. $20,000 flat fee I charged for being a full-time CTO coach. I shadowed the CTO. I sat in all his meetings. I followed him everywhere. No not to the bathroom. I stood outside at that time. CTO did meetings. Team meetings. Product meetings. 1:1 with five reportees. Three of CTO's reportees were ICs. All in all, the CTO spent 30 hours a week in meetings! The CTO spent the rest of the time doing document reviews. Strategic Planning! And several other such strategic things. The CTO was not an MBA. The CTO's bullshit vocabulary was better than an MBA. The CTO didn't write a single line of code. The CTO never reviewed a single pull request. The CTO never looked at the customer journey (Hotjar). The CTO never looked at error logs (Sentry). The CTO never looked at the application performance (New Relic). I looked at the data. It was shoddy at best. Despite $10M in funding, the product was flakey. During the easy money era, 10+ $50,000 contracts were signed. The company was to the moon. During the tight money era, 100% of them churned off. The CTO blamed the Head of Product in front of the CEO. The CEO blamed the market in front of VCs. The situation was beyond salvage. I could either blame the market or tell the truth about the CTO. The first one was better for my career. The second one had some chance of salvaging the startup. That time of the month came for me. I wrote two one-pagers for the VC and drove to Sand Hill Road. I parked my car near Starbuck on Sand Hill Road. I looked at both the one-pagers again. And handed one of them to the VC while sipping a Pumpkin Spice Latte. TC of the CTO: 200K + 10% equity TC of the VC: (probably) 400K treated as partnership income (lower taxes!) #startup #vc #fundraise
Great ending, like the end of inception.
Only 20k for a solid month engagement??? After taxes your making less than 200k
Yeah. You spend ~30-40 hours a week in the office. And you make about ~20K a month. I have done multiple such engagements. And I have other friends too who do it. That's how much you can make when coaching a struggling startup.
What’s this job title? Never heard of a coach
There isn't one. It is an ad-hoc arrangement I have with several VCs where I guide their portfolio startups on technical decision-making. For bad startups, I get paid in cash. For good ones, I get paid in equity + cash.
I should have hired you. Your one pager could have salvaged Katerra, or at least my son's car in NASCAR.
Better late then never
Tc of all involved or piss off
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