Here at eSuite, we’ve noticed a trend over the last six months that we think is here to stay. It’s the idea, and sometimes expectation, for business equity as part of the package in senior executive positions.
And it often makes sense.
We have creative founders who are looking to take a step back or focus on the part of the business that they love. And are looking for a set of experienced hands to take control of the business operations.
On the other side, we have some amazing eCommerce leaders with serious runs on the board who are looking for more than a paycheque. They want to throw themselves into a new challenge and want to be rewarded for the results they know they can get.
In these situations, equity is usually win-win situation.
Whether you are looking for equity in your next role, or want to build your career to the point where you can negotiate equity; here are the three traits we see owners looking for in a new equity partner:
1) You can drive profitable growth. It’s not enough to be part of a chain of command, you need to be able to demonstrate what YOU delivered and the growth you can claim. As always, driving revenue is not enough. You need to be able to demonstrate how that ties back to profitability. Keep track of the initiatives and projects you are driving – and always follow up on the results.
2) You can demonstrate knowledge across the business. Most equity roles are in the form of CEO or General Manager positions. In these roles, you need to have experience across all facets of the business including digital, product, team and finance. If you’re after equity, specialisation is not your friend. Grab any cross-departmental opportunities you can.
3) You can get the best out of people. While you take ultimate responsibility, you need to be able to motivate and get the best out of people. Whether this be internal or external, your team is your biggest investment and most founders will want you to be the one making sure they stay on track. Take any management experience you can and develop your style of leadership.
Equity won’t be right for everyone – or every business – but we think it is going to become more common for senior hires in eCommerce businesses. If this is the path for you, start working towards it today for the big opportunity tomorrow!
Get eSuite’s eCommerce jobs emailed to you weekly