David Beisel Tech Entrepreneur VC
Partner & Co-founder

Whether you’re excited about your
first startup adventure…

Or you’re a seasoned tech
insider…

Finding that one perfect startup
job can be a huge challenge.

For starters, there’s too much
noise. How do you make sense of any of it?

Then you’re sold a Dream.
How do you learn the truth?

And negotiations can be an
awkward dance. How can you handle that more gracefully?

And negotiations can be an
awkward dance. How can you handle that more gracefully? (even more gracefully than Carlton…)

?As a VC, I get
this question almost as often as I hear anything else:

?As a VC, I get
this question almost as often as I hear anything else: 1. How do I get my startup funded? 2. How do I find a great startup job?

So here are some practical
tips to get you headed down the right path… So here are some practical tips to get you headed down the right path…

So here are some practical
tips to get you headed down the right path… So here are some practical tips to get you headed down the right path… (All are pulled from this free ebook, available now for download.) (All are pulled from this free ebook, available now for download.)

1

The First Rule
of Startups:

Not All Startups Are Created
Equal

! Saying you want
to join a “startup” is too broad. So rather than say “what” you’re targeting (startups), think about WHEN you’re targeting them.

! Saying you want
to join a “startup” is too broad. So rather than say “what” you’re targeting (startups), think about WHEN you’re targeting them. There are really 3 opportune times to join a startup that you should target…

As early as you can
tolerate

When it’s already clearly growing

When you can learn from
someone or something truly special

! Unfortunately, this is
where people tend to make the biggest mistake in any startup job search:

! Unfortunately, this is
where people tend to make the biggest mistake in any startup job search: Joining a Series A or B startup because they think it’s “safe.”

! Unfortunately, this is
where people tend to make the biggest mistake in any startup job search: Joining a Series A or B startup because they think it’s “safe.” (In reality, you have all the risk of the founders, but none of the reward.)

2

To start making sense of
the noise, search for heat. Then evaluate it critically.

Don’t get blinded by sexy
press or community buzz.

Don’t get blinded by sexy
press or community buzz. Heat is just a leading indicator. Your job is to narrow your list from there.

Don’t get blinded by sexy
press or community buzz. Heat is just a leading indicator. Your job is to narrow your list from there. A few DOs and DON’Ts that can help…

! DO DON’T Focus
your search on specific verticals or themes. Ask a VC if “you have any job openings in your portfolio.” (Probably, but not a specific enough ask.) Ask lawyers & other service providers which of their clients are gaining the most traction lately. Spend tons of time browsing VC portfolios. (OK to start, but can’t decipher good from bad.) Research which companies have recently raised new rounds of funding. Tell others you’re a “business mind” seeking a tech team with a great product. (Surprisingly common. Rarely fruitful.)

3

How do you get to
the Reality behind the Dream?

? VCs get full transparency
into numbers and have several interactions to learn more. Prospective employees get only what is volunteered and have just a few interactions with a startup.

To get better informed, try
asking these 4 questions… To get better informed, try asking these 4 questions…

! HIRING: What was
your headcount 6 months ago? What will it be in 6 months? In 12? FINANCING: Who are your investors, and when was the last fundraise? SPENDING: What is the company burn rate, and what is its cash on hand? SPEED BUMPS: Has the company ever had a down, flat, or inside round? Any prior CEO changes?

For an in-depth look at
each of these four crucial areas, explore the full guide: (Click to trigger PDF download.)

4

You did it. You ran
a great process and navigated your way to a startup offer.

You did it. You ran
a great process and navigated your way to a startup offer. However…

?You now need a firm
grasp of two key concepts, one of which tends to cause more than a little confusion among employees:

?You now need a firm
grasp of two key concepts, one of which tends to cause more than a little confusion among employees: 1. Salary 2. Options

?You now need a firm
grasp of two key concepts, one of which tends to cause more than a little confusion among employees: 1. Salary 2. OptionsOptions

The single-most important thing to
learn from a startup after getting an offer:

The single-most important thing to
learn from a startup after getting an offer: The # of fully diluted shares outstanding.

The single-most important thing to
learn from a startup after getting an offer: The # of fully diluted shares outstanding. Better yet: “What % of the company do my options represent?”

! That is the
only way to know what the number of options in your offer is potentially worth – or whether it will be worth anything if the company exits someday.

! That is the
only way to know what the number of options in your offer is potentially worth – or whether it will be worth anything if the company exits someday. 1,000 shares 5,000 shares 10,000 shares …all meaningless without that other missing piece!

! That is the
only way to know what the number of options in your offer is potentially worth – or whether it will be worth anything if the company exits someday. 1,000 shares 5,000 shares 10,000 shares …all meaningless without that other missing piece! BEFORE YOU CLICK AHEAD: This is such a misunderstood part of any startup job offer, but it’s absolutely critical to grasp. To help, try bookmarking this roundup of resources on the topic.

With salary and options as
the levers, I’d suggest framing negotiations like this:

IN CONCLUSION GET INFORMED. HAVE
A PROCESS. BE DISCERNING. BUT IN THE END:

(It’ll be the best damn
job you ever have.)

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