Stealth Startup II

Hey Fam,


My previous post was prior to interviewing with the company, so, I wanted to provide more context.


  • Founder is a B.I.G Baller, if I tell you his name and previous company you'll 1000% know who he is.
  • New product is in a different vertical than the first but 2nd vertical runs parallel to the first, so experience from previous is super, super relevant.
  • Pay isn't great but commission is nice. I know it can change but as of now, it seems great.
  • Product seems amazing, it can honestly be a huge company and there seems to be a strong product-market fit.
  • Company is producing revenue already, it is done by having a big corporation own smaller corps that would seem to be separate but really aren't. So, when prospecting i'd be able to share the company's name just not the big corp or that these smaller orgs are interconnected to each other.
  • I imagine clients sign an NDA and that is how the orgs share referrals between each other as they are all part of the same ecosystem.


After, getting more of the full picture I understand why they are operating on "Stealth Mode".


CEO has reputation and contacts so he can easily raise money in stealth mode, something that would be a big struggle with a lesser know founder.


The data and logistics from his previous company can be easily leveraged for this new venture, which is what they are doing, so, that is one competitive advantage.


The product and concept is something I've never heard before but it is honestly a great idea so I understand the notion of trying to grow as much as possible while staying under their radar until they have control of the market.


Overall, the company and product sound exciting. The founder is a BMF that knows his shit, which makes me think it puts the company in a good position, therefore, more job stability?


Some questions I'd appreciate some feedback on:

  • Do you think having a proven, known CEO will translate into job security? I am looking to join a company that will give me the most security possible so I can just focus on hustling my ass without worrying if ill be fired the next day.
  • Would you take this lower base salary given the other aspects of the company seem favorable?
  • They do equity, and although the chances are always low, I'd say they go up with a CEO that has done it before, right?
  • What are your thoughts of the overall situation?


Thanks for reading Savages.


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12
SaaSam
Politicker
4
Account Executive
Depends on how low the base is and what your living situation is.

If I was a single dude living on my own I'd be all over this. As the breadwinner for my family I'm likely not going to take a pay cut without some major upsides and near guarantees that I'll be able to make up for it in commission.

If all goes well at this company, you'll stand to cash out huge if and when they IPO. Plus, getting involved early on could mean career and life changing promotions with all of the bells and whistles down the line.

Guess you have to ask yourself what you're going to be risking if it doesn't go so well. I can handle living in a cheap ass apartment and going hungry for a while if something doesn't work out. But, I'd never risk putting my family in that position.
champchamp
Arsonist
0
Certified Savage
Great point, man.ย I'm a single guy with no kids, just two dogs haha. I think I'm definitely willing to take the risk just trying to figure out if it is a risk worth taking as the base will be 10k-15k under below whatย I'm currently making and it also seems like ill be getting another offer 10k or 5k higher than this one.ย 
LordOfWar
Tycoon
3
Blow it up
TBH i'm jelly, this sounds super interesting. Other than that I got nothing to contribute, sorry.
champchamp
Arsonist
1
Certified Savage
Yeah! I'm pretty pumped too, the base is just not great, probably my main hesitation.ย 
FormerStartupJobHopper
Tycoon
2
AE
It sounds like you are into this and my read on the situation is why not give it a shot. One thing I'm not clear on is is the company you will be working for/the product you will be selling producing revenue already? Do they have any clients? Or are you saying their sister companies have clients?

Regarding one of your questions, does having a big time CEO at a new start up mean job security? Absolutely fucking not. You are walking into a highly volatile situation by definition. Does it give the business a better shot at success and therefore maybe mean a higher shot at some job security? Maybe a little, but lots of big shots fail in some of their ventures. If you want job security, go work for a big company with product market fit.ย 

To illustrate my point, my first sales job out of college was as an SDR for a 20 person SaaS startup. I was our number 1 SDR and averaged about 130% to quota, and the company had 2 years of runway with funding and was getting close to profitability. Nonetheless, one Friday morning they mercilessly laid off the entires sales team except the big dog and said none of us were ROI-ing because deals weren't closing. THey had the money to keep trying or tinker, and in particular the SDRs were hitting KPIs. But they woke up one day and decided they needed to take a different approach.

Not saying that will happen here, but that's the kind of shit you are exposing yourself to working at a start up, let alone one that is pre-revenue. I think depending on your life situation that based on your level of enthusiasm it may make sense for you to take a flier. But if you are looking for job security, you need the opposite of this company lol
champchamp
Arsonist
0
Certified Savage
Thanks for the thorough comment, man. It's much appreciated. To answer the first question, the company I'd be joining is already producing revenue. Sister companies too.

Great point about job security, I thinkย I'm just a bit sick of my current company as they literally figure people daily.ย 


I'm not looking for a super-secure job as I've always been in companies with 300 employees max and I enjoy the atmosphere.ย 


Thanks for sharing that example, I think its similar to what I think will happen at my current company. I think my current co will fire the whole sales time and will go bankrupt within a year but we'll see.

In the meantimeย I'm trying to get my ass out of here fast.ย 
braintank
Politicker
2
Enterprise Account Executive
Gaaahh! Just tell us who it is?!?! Mark Zuck? Larry Ellison? Travis K? I'm going crazy ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚
alonzoharris
Politicker
1
Partner Manager
It's definitely one of the three you just named๐Ÿ˜
champchamp
Arsonist
1
Certified Savage
Bro! Then I'm definitely interviewing with your company @alonzoharrisย 

Yeah @braintankย IT IS one of those three, that's all I can say, brother, haha.ย 
braintank
Politicker
0
Enterprise Account Executive
Wow lucky guess!

I gotta think it's Travis. He did ghost kitchens during pandemic but that's gone kaput. He seems most likely option. What could he build on the back of his know how?

Larry Ellison was a wild guess. Given his recent behavior I'd avoid.

And Mark Zuckerberg might be the antichrist. Plus anything he'd be doing would involve metaverse which I'm skeptical of.

Hints please??
champchamp
Arsonist
1
Certified Savage
@alonzoharrisย so how's the company overall? Do you like it? Do you know if sales reps are hitting their numbers? Have there been any layoffs?
champchamp
Arsonist
1
Certified Savage
@braintankย you are one smart man! Bro culture controversies... that should give you the answer ;)
alonzoharris
Politicker
1
Partner Manager
Forgot to get back to you - I'm loving the company, great attitude and everyone is bringing their best selves to work and I've been loving it! Sales reps are hitting their numbers however there can be a bit of turnover with AEs.ย 

From what I understand, it's a real grind for the first few months but if you're hitting quota you'll then have the opportunity to jump into more inbound/partner referrals or even get into the enterprise sales team.ย 

No layoffs and I think a big part of that is because of our backing/funding. Hope that helps @champchampย 
champchamp
Arsonist
1
Certified Savage
@alonzoharrisย Sweet, brother. Thank you! I am scheduled to interview in about two weeks but I'm pushing to make it happen faster as I am interviewing with other companies too.ย 


Glad to hear great things though! Hope the timing aligns and I get to at least consider this opp.ย 

I know you interviewed for a different position but any other advice you may have?
CatMom
Politicker
1
Account Executive
Damn this is a great thread ๐Ÿฟ๐Ÿฅค
Pachacuti
Politicker
2
They call me Daddy, Sales Daddy
Are you in a position in life to go for the high risk/reward scenario?ย ย 

Job Security doesn't exist but at a start up its even less likely.ย  That's where the high risk kicks in.

Having "been there and done that", I would make sure I have a number of years under my belt at the big company before going off to a start up.
champchamp
Arsonist
1
Certified Savage
I am as i have no kids nor wife. So, I might take it if all goes well and the timing works out as I hope to get an offer this upcoming week.ย 
CuriousFox
WR Officer
2
๐ŸฆŠ
This is all a new experience for me. I honestly don't know wtf to think.ย 
champchamp
Arsonist
1
Certified Savage
Haha,ย literally my thoughts. idk much but it sounds cool so far lol.ย 
TennisandSales
Politicker
1
Head Of Sales
1. i dont think having a proven CEO will give you job security. But i think it does increase the chance that the company will succeed. And in this market, you need to succeed.ย 

2. I would not take the lower base salary. I would try to negotiate to where you are right now at least.ย 

3. The chances are for sure low but I would agree that having a CEO that has seen success does help. Does this CEO take companies public? or grow and then sell them? You need to get the fine print on the equity before you get all hot and bothered by it.ย 

4. My overall thoughts is that it sounds super interesting and very exciting. But its still a risk. If you like risks, this sounds like it could be a fun one. Idk if I would say this has "job security" all over it though
champchamp
Arsonist
0
Certified Savage
Yeah, il definitely try to get the base at least to whereย I'm at but we'll see, recruiter said they are fixed on that base but he has no authority so ill definitely negotiate with the HM if I do end up getting the offer
champchamp
Arsonist
0
Certified Savage
Idk the specific plan for this company but based on previous successes it seems like he'll try to go public.ย 

Or, perhaps having it acquired by the massive company he already took public? I'd imagine that could be a play too, right?

I agree, it sounds exciting, I just want to evaluate if the risk is worth it.ย 
saaskicker
Celebrated Contributor
1
Enterprise AE
Have a hunch this is a cloud kitchens role - and the CEO is TK from Uber. Had a friend there in the Real Estate side of things and he enjoyed it but said it was an absolute grind. I've received some emails from them in stealth mode as well.ย 
champchamp
Arsonist
0
Certified Savage
Preetty damn close haha... In his case, does he recommend joining? How is the sales team doing?
saaskicker
Celebrated Contributor
0
Enterprise AE
sales team has no tools or playbooks, wild wild west mentality. didn't sound like people were there for commission but for equity. i did not join.ย 
goldenlazard
Politicker
0
Senior SDR
Sounds like Travis Kalanick's (uber) cloud kitchens or otter.ย 

Run away. There's plenty of horror stories online about working for him
tazman2
Opinionated
0
Investment Sales Associate
After reading this... It may be the stealth startup I'm working with. I wish there were DM's, I'd love to figure out if we are in the same boat right now.
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