I have an IT business idea for which i need to hire a good project manager and sales guy who would work on a project basis which means that if project succeeds they get a cut - if not, no one gets anything. As it is the first time i would be doing such thing, is it a realistic expectation for professionals to work under such terms and if it is, how exactly would one go about looking for such people? I was thinking upwork.com or general CV websites. Are there any other channels?
I can't imagine a project manager working on commission this way. The payout would have to be fairly huge for the risk and lack of equity implied.
Freelancers do not work this way. Years ago they tried this model in the ad agency world, where smaller agencies would try to bring on freelancers to support pitch staff, who only got paid if the agency won the business. It was very unsuccessful. You may have more luck finding folks willing to work part-time for equity, but generally this is often why startups have multiple co-founders. Ultimately, one of the hallmarks of a successful startup is a good business person, a good designer/UX, and a good engineer. Sometimes one person can play two roles, but stable staffing against those pillars is one of the minimal requirements I've found necessary to success. Given you have an IT idea, you would probably be best served by having knowledgable cofounders vs. all-or-nothing staffers.
For sales- i have succesfully reached out to my network and found a few salespeople who are willing to introduce my business to their customers. Good salespeople like to bring new ideas and solutions to their customers, even if they aren't selling it per se. Its just good relationship building. Payment is based on success, not effort or time. A finders fee basically. The key is, my co-founder and I manage the sales process, the outside sales people make the introduction and get an appointment (call or meeting). This model works to grow your business. Of course your solution has to fit the salesperson's existing customers or network.
one thing you have to be clear that if you want to hire or you want a partner. See if you are looking for someone who will work for free and will earn only when project succeeds that means you are looking for a partner or Co founder & in this case you have to first convince that person that this idea will definitely work.
And if you want to hire then i will suggest you that you should hire an offshore companies as they can develop your quality project at very low cost.
And in this case you will have total control of your project as you will be the only boss here.
Hi Marius, I am a Project Manager working full time, could this project be undertaken out of normal working hours? Happy to discuss further, just drop me a message.
We Project Manager works basically on the zeal to see a product flying,
Especially with lot of Experiences and the utilization of all means of social Media,Experiential Marketing a product will not only run but fly...
Dmitry is dead-on with his response, I completely agree. People just don't work this way anymore, and if you do happen to find someone that does, they are either not very good and will waste your time, or they will want a much larger portion of equity than you are willing to give up. You are better off finding a true co-founder partner that supplements your skills.
Here is a great example of "you get what you pay for." You can certainly hire salespeople on contract, even commission-only, but you're going to have to convince them with some proof that they have a very high likelihood of success, and the commission you pay is going to have to be MUCH higher than it would be if you paid a base plus commission. Instead of paying 15-20% commission, you're going to have to raise that to 35-50% commission, and on the high side if you expect them to generate the leads and you're not having them warm leads.
Project managers have no reason to accept an all or nothing deal. Unless they have an ownership stake in the business, no one has a good reason to work when they assume all the risk. Even as a partner they should at maximum be taking 50% of the risk. By trying to push all the risk onto someone else, you are in effect saying that you don't have faith in your business and aren't willing to put your own money up to move things forward. You're expecting someone else to sacrifice their livelihood for you. That's unreasonable. Maybe you're looking for an equity partner, but these days, no one is going to accept more than 50% of the risk. You will have to pay them something if they are doing work of any kind.
Regarding the project managers you have a lot of pages such as LinkedIn, Indeed, ZipRecreuiter, UpWork all depends if you need remote or in site, if you want we can help you with this.