Offered an excellent business opportunity, what do I need to be aware of?

I am currently working for a recruitment firm based in London UK and have done very well. I have been asked to open up an office in Vancouver Canada (that's where I live and will be moving back soon) and be fully responsible for day to day activities including finances, staffing, training, budgets, etc... basically a Managing Director role. I am going be offered a salary and bonus package as well as equity in the company. What do you think I am worth? What sort of remuneration package should I look for?





Anything I need to be aware of before signing the contract? It will probably be for at least 2 years.

Offered an excellent business opportunity, what do I need to be aware of?
Get a guaranteed salary against a percent of profits (you get which ever is more), don't sign a non-compete clause or if you get dumped you may not be able to work in you field in your area, get a golden parachute for premature termination.
Reply:Get a lawyer to help you understand the contract before you sign. Judging from your post, I know you can afford a good lawyer.





By the way, only you can determine what you think you are worth. If you are lost you could try and find out what the professionals with equal qualifications are being paid at other organizations. Your best bet for getting this info. would be befriending a HR person that recruits managers or a management consultant or a executive/management recruiter/recruiting firm.
Reply:You need to be aware before you sign the contract of exactly what is expected of you by your superiors. This contract means you must perform. You have to at a minimum, meet their expectations. You will have quarterly reports, etc. Meet all deadlines and watch that bottomline. Good luck to you!


In addition, you need to due some research (via internet or otherwise) of similar company types and titles to view their potential start salaries. You must have an idea of what they are offering you? How about the cost of your relocating, etc., you need to factor in everything.
Reply:Man, if by now you don't know how much you are worth, you'd better just accept the package and enjoy the ride.





At least you'll know what you're worth after having controlled the finances for a while :)





Good luck

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