User Power
Value/Post Ratio
138%
- Dec 27, 2016
- 262
- 361
- 35
TLDR: I am offered to become a CTO in a underwater vehicle startup. I want to make a good decision, whether I accept or turn it down.
Hey everyone, I am posting this in Ideas, not sure really if that is correct.
Short background to me: I am a 34 yr old mechanical engineer. I have deep experience with FEM and know basic CAD stuff. My experience is much more about steel constructions, especially railway cars.
There is a guy who is a successful entrepreneur, a bit older than me and running a 100+ employee company already in engineering space. (specialized containers/structures, to be specific) His company is around 10 years old and he has some success under his belt, according to his own word.
His website is a bit outdated and might need a revamp, but I could believe what he said for the moment. (at least for the first interaction)
He wants to build a small submarine sort of vehicle for oceanographic and military purposes (deep sea vehicle) and the design is already half ready. It is kind of a spinoff from some research project, which he contributed to. He had a senior engineer, but he had too much focus on his personal projects and he fired him out. He used to get 8k€ a month (which is a senior engineer salary in DE/CH)
His design is half ready, he has poured around half a million euros into the project and he needs somebody to push the design further, create an MVP, improve the product etc. and create a real company. He wants to build the vehicle and rent it.
About my position, he said he can give me salary and even equity. He said, he doesnt care where or how I work, as long as things get done. I would be able to use the resources of his company (engineers and production facilities). He wants someone with a mechanical bakground, because they just do not have any knowhow about this (of which I do).
I also do not expect a stroll in the park. I will be working at least 2-3 (maybe 5-8) years 50-60 hour weeks. But hey, is it not the nature of these things?
My expectation is a normal salary and some equity (at least 20-30%) in this business. Or at least some written agreement, how I earn that equity. I can see this going to be 7-8 figures, as it also fulfills CENTS.
Things I need to know/research at this point:
- Is the guy's story really true? Does he have these facilities / engineering team? Is the design there, where he claims it to be? Maybe talk with that fired guy, ex-CTO.
- What is the business model, he has in mind? How are we going to earn money and how much? Does he have concrete business goals, or is this some sort of hobby project?
- What can I add to the project?
I hope, we have some seasoned inventors/designers on the forum, who has made such decisions.
I am not sure, if I am questioning the right things and/or if I am neglecting something out of ignorance.
What should I pay attention to in such a startup?
Any answers from experienced designers/inventors are very much appreciated.
Hey everyone, I am posting this in Ideas, not sure really if that is correct.
Short background to me: I am a 34 yr old mechanical engineer. I have deep experience with FEM and know basic CAD stuff. My experience is much more about steel constructions, especially railway cars.
There is a guy who is a successful entrepreneur, a bit older than me and running a 100+ employee company already in engineering space. (specialized containers/structures, to be specific) His company is around 10 years old and he has some success under his belt, according to his own word.
His website is a bit outdated and might need a revamp, but I could believe what he said for the moment. (at least for the first interaction)
He wants to build a small submarine sort of vehicle for oceanographic and military purposes (deep sea vehicle) and the design is already half ready. It is kind of a spinoff from some research project, which he contributed to. He had a senior engineer, but he had too much focus on his personal projects and he fired him out. He used to get 8k€ a month (which is a senior engineer salary in DE/CH)
His design is half ready, he has poured around half a million euros into the project and he needs somebody to push the design further, create an MVP, improve the product etc. and create a real company. He wants to build the vehicle and rent it.
About my position, he said he can give me salary and even equity. He said, he doesnt care where or how I work, as long as things get done. I would be able to use the resources of his company (engineers and production facilities). He wants someone with a mechanical bakground, because they just do not have any knowhow about this (of which I do).
I also do not expect a stroll in the park. I will be working at least 2-3 (maybe 5-8) years 50-60 hour weeks. But hey, is it not the nature of these things?
My expectation is a normal salary and some equity (at least 20-30%) in this business. Or at least some written agreement, how I earn that equity. I can see this going to be 7-8 figures, as it also fulfills CENTS.
Things I need to know/research at this point:
- Is the guy's story really true? Does he have these facilities / engineering team? Is the design there, where he claims it to be? Maybe talk with that fired guy, ex-CTO.
- What is the business model, he has in mind? How are we going to earn money and how much? Does he have concrete business goals, or is this some sort of hobby project?
- What can I add to the project?
I hope, we have some seasoned inventors/designers on the forum, who has made such decisions.
I am not sure, if I am questioning the right things and/or if I am neglecting something out of ignorance.
What should I pay attention to in such a startup?
Any answers from experienced designers/inventors are very much appreciated.
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.
Last edited: