Been at Nike for 5 years (6 YOE, Dir of Product, current TC 305k: 250k cash, 55k RSUs). Was approached with an offer at an early stage startup to come on as CEO / CPO. Startup has a viable product and paying customers. There’s higher risk but I believe in the thesis/concept of the company and have confidence I could execute and drive the strategy. My questions are: (1) what is a comp expectation (Salary + Equity)? Is asking for a match (250k cash + equity) fair? (2) anything I should ask/be aware of before joining? Startup: E-commerce/Retail space, 10-20 employees Nike: Currently DoP but have been understaffed/delayed due to a drawn out re-org.
What about the current founder, do you think they are open relinquish control to you or do they just want someone with experience at the helm to show the investors but expect to be calling the shots themselves
Good question. He has other companies he’s trying to incubate/grow and can’t manage the day to day on this company. In my discussions with them it sounds like I’d have a lot of autonomy / decision making power
No focus... Big red flag
Just do it.
It depends how much you believe in the startup! Do your own research about the startup, the product itself, customers/market, the team, etc. If you think it has a good shot to succeed, do it!!! You have one life to live. Another option is to stay at Nike, but refer me to take the CEO offer at that Startup 😎
Get straight on title and responsibilities? Cpo/ceo sounds weird
Yep, that’s on my list to sort. It’s CEO if I want it, CPO if I just want to stay in the product lane and he’ll manage Biz Dev/etc that comes with CEO
Have you had experience in a startup before? I've seen a lot of people struggle when they first move out of a big company cause they know how to operate effectively in a structure, but done necessarily know how to build that structure in the first place. Often they try and replicate their previous company, but do it in a ham fisted cargo cult way. Additionally as a CEO you'll be running a business and not just executing a product strategy. You'll have to build and run a team, including functional areas you don't understand well.
Wait this doesn't make sense. Why aren't they looking for more senior folks? Did you build your own startups before?
How many reports are under a Nike director. 6yoe for director seems very fast. If you are in Nike fast track to the top why get off?
250 Nike big salary
Only you can answer this. You know what Nike offers you. But the startup is based completely on feel. Do tons of homework on everything, ask a lot of questions, spend some time in there with them. If it feels good and you like the equity offer (don’t do it for cash) then take it. Nike and others will always be around and ceo doesn’t look bad on a resume
Startup will be a great experience but be ready to take a large pay cut in exchange for equity. You need to have skin in the game.