Peter Kestenbaum - 1099Partners, Hoboken Tech Meetup

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Presented at Hoboken Tech Meetup on 10/25. more at www.HobokenTechMeetup.com

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Peter Kestenbaum - 1099Partners, Hoboken Tech Meetup

  1. 1. NJ Tech Meet-up October 2010 Peter Kestenbaum 201 388 0523 http://1099partners.com 1099er Staffing
  2. 2. Three core components in any emerging firm The Market or Segment and available share/health Your product/service or idea (uniqueness, value add). Your ability to execute and staff to resources available (including funds)
  3. 3. Three core components in any emerging firm The Market or Segment and available share No/Little Control Your product/service or idea (uniqueness, value add). yes or no Your ability to execute and staff to resources available (including funds) Ability to impact
  4. 4. Dollar Cost Reality (After you realize Sweat equity only goes so far) $74,000 for an employee to take home $44,000.. Source : Michael Fleischer, WSJ 8/2010
  5. 5. Variable Work Force Usage (1099Partner view) People are available to help emerging firms -Demographics.. >50% workerss over Age 40 -Life status changing. Financial, life style, values -No desire to work in Corp America,Too active to Golf 5 days a week -Retainer not hourly or contract workers There are many sources, each with a different focus to explore.. But first
  6. 6. The Non Dollar Cost Recruit time Training time Termination time… performance, fit Lost revenue oppty Control Bad Bus Dev hire at HP, Google means 1 problem in hundreds… Emerging firm 100% of the sales team and 25% of senior leadership.. Try before you buy
  7. 7. Numerous Firms.. Samples Solvate… Contract Services.. (Graphic artist) Salesconx.. Outsourced sales teams ( 5x $80K level) Cresting Wave (Enterprise Tech sales.. Ex IBM, Oracle reps) 1099Partners (Partnerships, BD/Infrastructure…ex SUN, Telco, Agency.Com…)
  8. 8. Myths you want to believe Sweat Equity is still attractive… Most of the best people have stock in dozens of companies You can do it yourself, your cool, smart the next Mark Z Investor will be so “wowed” by your thought will never ask about Management Experience, Bench .
  9. 9. Good/Bad/Ugly.. Using experienced people Will get access to talented people/rolodex’s Turn on/Turn off (within reason) Benefits (none) Rate high… but investment for same result is lower.. Expect to pay retainer (maybe + bonus) - 2 afternoons per week ex SUN/IBM/HP ten year NY sales manager with rolodex > full time 30 year old BD manager
  10. 10. Case Studies.. Just a few mentions (time permitting) $3M west coastsoftware firm looking to start in NY $1M services firm hiring first sales person Web Services firm
  11. 11. Summary Help is out there to be had.. There are big benefits It is probably going to cost you something… It can get you jump started Choosing and picking is not easy There are firms to help There are tradeoffs

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