The following is a real conversation that took place on Friday. The setting: my first meeting with someone who had expressed interest in getting on board with a new venture we are associated with as that venture's first salesman.
The Applicant (hereafter 'TA'): a fresh faced and energetic young man of about 23-25 years of age. Nanoburgh = 'NB'.
NB: Do you have any questions on the email I sent you which detailed the roles and responsibilities as we envision them at this time?
TA: I took a brief glimpse. But before we go there, let's discuss the compensation for this position.
NB: OK.
TA: How will I be compensated for my time?
NB: Well, I don't look at it that way. I prefer to look at it as compensating you for your 'success', not your time.
TA: But I have a limited amount of time in my day and if I devote it to you I need to be compensated fully for it, right? I mean, that's business.
NB: I'm not sure about the 'fully' part. I would hope that a portion of that 'fully' would be based on that aforementioned 'success' thing. How am I protected from paying you a large mount of money up-front and then not seeing any results from that investment?
TA: Well, then you can fire me if I don't perform.
NB: I'm not good at firing people.
TA: Well, what is your severance package?
NB: Excuse me?
TA: If you were to fire me, what would I get in severance?
NB: Let me get this straight: you're asking me what our severance package is, right here in the first 2 minutes of your first job interview with us?
TA: Severance is all part of the negotiations.
NB: Tell you what. The coffee is on me, please enjoy it. But I need to run.
As much as I hate to play the 'generational' card; can someone please tell me why Gen Y (or Z or whatever letter we are up to) tends to have zero inclination for entrepreneurial pursuits?
Update:
Theory 1 (as offered by today's coffee mate): graduating collge students today are burdened with college-debt loads that are immensely larger than past decades, so they are forced into 'wage' jobs as opposed to having the luxury of engaging in a startup or 'Big Score' type of opportunity.
RM
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