Founder compensation: how much should you pay yourself?

Seattle entrepreneur Dan Price from Gravity Payments made headlines a few months ago when he announced that his employees would make $70,000 a year as minimum wage. In order to pay for this company-wide salary increase, he also slashed his own wage from $1M a year to $70,000.

While his decision seemed bold and admirable at the time, just a few months later his company is struggling and his decision to make this salary change has gotten a lot of criticism and backlash. All of which begs the question: if you're running a company (especially if the company is still in the early stages), how much should you pay yourself?

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Startup founder and recruiter-in-chief: separating the wheat from the chaff

This is the second in a series of four blog posts in which I share the steps and processes we followed when making the all-important first two hires at RecruitLoop. In the first post, I focused on how we identified candidates. Here I discuss strategies for the screening and interviewing process.

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How to attract potential buyers for your startup

It’s a question on the mind of many entrepreneurs. Namely, ‘how can I make my business attractive to potential acquirers?'

People start businesses for lots of reasons. Many don’t even consider their exit strategy initially, although this is something they should give thought to from day one. Since most exits are through acquisition, it makes sense to keep that possibility in mind and make sure that in the course of building your business, you avoid obvious moves that would discourage potential buyers.

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Startup founder and recruiter-in-chief: 5 steps for attracting talent

Virtually every startup founder struggles to find the best talent for their company. And it’s a critical task for taking your company to the next level. At the early stages of every startup, people are your most valuable assets.

In building the team at RecruitLoop, I’ve grappled with this same process myself.

Over a two-month period back in 2013, I devoted most of my time to making our two first key hires. Through this process, I learned a lot about valuable strategies for recruiting potential talent, best practices for interviewing candidates, the challenges of hiring and onboarding once you find someone, and the time required to execute it all.Read more

Hear it from the experts: Building a world-class SaaS sales team

On Thursday, June 25, Jason Lemkin, Managing Director at Storm Ventures, and Aaron Ross, author of Predictable Revenue, joined our CEO BJ Lackland for a live Q&A about start-up growth, sales, and funding.

We’ve taken their 45 minute discussion and pulled some some questions and answers you might find interesting useful if you're scaling your sales team. Enjoy!

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Five reasons why startups fail

No one likes to talk about it, but the odds of success for startups are pretty slim. In order to move the needle in your favor, you first need to understand where the potential minefields are. Avoid these five startup killers, or do your best to have controls in place to mitigate them.

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The path to success: four ways to maximize your product development process

So you’re ready to start developing a new product or service idea? That’s great, but how can you ensure that you actually will achieve the outcome you’re hoping for? Here are four key steps that will help guide you in developing a process that will maximize your chances for success.

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Reality check: Is your startup ready to launch its new product or service?

The launch of something new is one of the most thrilling moments for entrepreneurs and future-focused companies. A new product or service introduction can dramatically change a company—and the marketplace. But before you risk investing significant time and effort developing a new product or service, you need to step back and take a hard look at your company’s strengths and resources.

Here are four things to consider before committing to developing a new product or service.

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Bootstrapping your way to success: how to make it ‘til you make it

When you're just beginning to build your startup, funding options are limited. Traditional banks won’t talk to you. VCs want to see traction and angels want to see a great MVP. Revenue-based financing isn’t an option yet, because you don’t have revenue. And on the off chance that you could get investors interested at this early stage, you’d have to give up a large chunk of equity for the financing you seek—a lot larger than you would need to when your company is larger and more financially secure.

So what are your options? The best thing you can do is bootstrap it for as long as you can. When you bootstrap your way to success, your company isn’t hampered by loan obligations as it grows, and you haven’t given up control to investors.

Here are 4 things to keep in mind as you bootstrap your way to success.

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How the lower cost of innovation changed everything

Over the past decade, starting up a tech business has gotten much cheaper. Servers and other hardware are now available on a SaaS basis, allowing you to pay as you go for what you need. Thanks to the increased availability of APIs and SDKs, you don’t have to code everything from scratch, allowing you to speed up your development cycles. New tools and communities are making it easier to launch businesses collaboratively.

The cost of bringing a product to market has dropped 90%, and the speed to do so has increased the same amount. As a result, there are more startups than ever—and they’re launching products at an increasingly fast pace.

This dramatic change in the startup landscape has profound implication for entrepreneurs trying to enter the market. Here are three key things you need to know to thrive in this new world.

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