Two Offers - How to Let One Down Gently...

UPDATE:

Received offers for both roles :-D

Option 1:

£110k base, £85k variable, .2% equity (they have termsheets for series A now), no signing bonus

Option 2:

£110k base, £110k variable, $11k of shares (they are going for series B now), £27.5k signing bonus

I'm having follow up calls with each tomorrow. The preference is for Option 1 as the upside is significant and it's a more senior role within a company earlier on in their journey.

Appreciate the guidance on removing emotion from the decision!

Savages!

After interviewing for a handful of Enterprise AE roles over the past 4ish weeks, I had 2 final stage interviews yesterday which I nailed. I was told by both that they would be extending me offers by EOD today and both asked me to reiterate my comp expectations (I gave them a range for the base, obv.)

They are both good opps. but one is the clear winner in terms of career development (smaller company, more responsibility, first hire in the region, founder has great track record, etc.). In my process to date, I actually figured I'd go to the larger org and had this other opp. as backup. Now that I've had some insight from the CEO/COO at the smaller company (I was slightly concerned with the risk as the other role is an easier transition for me), I think this is the right one for me.

Question is, any advice on letting down the other company in such a way that doesn't make me seem like a dick? Naturally, they will understand that I have to remove emotion from it and make the right decision for me and my family but still want to be respectful of the fact they made an offer.

Oh and on top of this, the company I will be turning down wasn't actually hiring, I went to them and asked to interview and they agreed. Secondly, the guy that basically has convinced me to go to his smaller org was previously CRO at the larger company and took them from like 60-150 people and through their series A...

Appreciate any thoughts/guidance!