Steve Blank

APRIL 1, 2020

Before layoffs, cut all salaries by 20%. Cut CXO salaries by at least 30%. Award equity to employees equal to the value of their reduced salaries. Offer relentless optimism for survival, but ruthless cost-cutting (starting with the CXO salaries.) Try to protect the most vulnerable employees.

South Korea 334

South Korea Salary Business Model China 334

Startup Professionals Musings

JANUARY 8, 2021

Companies with great service routinely spend 3% to 5% of salaries training team members – experienced as well as new. The process must be employee friendly, as well as customer friendly, and have feedback mechanisms to correct poor results. If service employees are not happy, the process isn’t working yet. Train and coach continuously.

Technical Review 385

Technical Review Salary Metrics Matching 385

Startup Professionals Musings

SEPTEMBER 29, 2018

Deferred payments start with stretching the payables period but, more importantly, include giving employee equity in lieu of a higher salaries and negotiating vendor deferred payments out of future revenues. This could equate to two technical founders (with a minimal salary), funding two developers for a year.

Burn Rate 223

Burn Rate Hockey Stick Startup Salary 223

Startup Professionals Musings

MARCH 6, 2021

Money flowing in has to exceed all costs, including inventory, credit, and your salary, before there is a real profit. Always use a break-even analysis to measure what volume and price are required to offset total costs. Thinking you are profitable once money begins to flow in.

Technical Review 379

Technical Review Finance Startup Salary 379

YoungUpstarts

DECEMBER 24, 2020

Remember that investors will not appreciate a business plan that features exorbitant salaries of the founders. The first year will be as true to life as possible. The indicators for the other two may change depending on the new input data. Working on a business plan will help you understand how the business will grow.

Business Plan 263

Business Plan Ukraine Cofounder Startup 263

The Startup Magazine

MARCH 4, 2023

Offer Competitive Benefits and Compensation In today’s competitive job market, it’s important to offer a comprehensive benefits package and competitive salary in order to attract and retain top talent. According to the Society for Human Resource Management, the cost to replace an employee can range from 50-200% of their annual salary.

Employee 194

Employee Management Software Review Technical Review 194

Steve Blank

APRIL 16, 2020

What I suggested was, that the economic disruption caused by the virus and the recession that will follow is one of those rare opportunities to consider a change, one that could make your own life more meaningful, allow you to make an impact, and gain more than just a salary from your work.

Software Review 335

Software Review Technical Review eCommerce Salary 335

Startup Professionals Musings

SEPTEMBER 29, 2021

Some experts have estimated that the cost of keeping the wrong person for a given organization can be up to fifteen times his or her annual salary. Failure to deal with consistently negative employees only exacerbates the problem and the impact on your business. Hire only people with positive and can-do attitudes.

Employee 371

Employee Salary Hiring Stock 371

Startup Professionals Musings

JUNE 11, 2022

This could work to get you legal or accounting services, but won’t get you cash to pay employee salaries. An example would be getting free office space by agreeing to be the property manager for the owner.

Angel Investor 327

Angel Investor Equity Technical Review Exit Strategy 327

Startup Professionals Musings

APRIL 12, 2019

Salary costs go up rapidly, as people require training, bonuses, expense reimbursals, and an office with a requisite support team and supplies. Every smart entrepreneur I know thinks he can do everything personally, perhaps with a few interns or family members to help.

Cost 264

Cost Founder Software Review Startup 264

The Startup Magazine

JUNE 20, 2024

You need not worry about the financial burden of a full-time salary. Hiring a full-time CMO, according to Salary , can cost your startup around $360,672 a year. At the same time, for almost half the salary of a full-time CMO, these part-timers provide high-level leadership and marketing expertise.

B2B 148

B2B Hiring Salary Early Stage 148

YoungUpstarts

MAY 19, 2020

Although it can seem daunting, salary negotiation gives you an opportunity to walk into a new role with a salary and benefits package that matches your wants, needs, and value. . Before you jump into salary negotiations, you’ll want to get clear on what your value is and what you can realistically ask for. Understand Your Value.

Salary 246

Salary Matching Conversion Equity 246

Steve Blank

OCTOBER 23, 2023

Choose big for stability and higher salaries. The salaries are almost always higher. You may need to cover some portion of your own salary for a year. If you need to make a salary equivalent to what you make in government, target startups that have closed a Series B round within the last few months. Where should you go?

Government 241

Government Advisory Board Salary Sales Cycle 241

YoungUpstarts

AUGUST 20, 2020

On the other hand, sharing the salary information of superiors and other peers can be a surefire way of motivating workers. When workers with low earnings see what others are making in a month, they are likely to put more effort to increase their salaries. This may be important to bridge the gender gap in business. Secure Data.

Software 219

Software Management Salary Startup 219

YoungUpstarts

APRIL 6, 2020

Any employer familiar with Excel will know just how much of a headache it can be to calculate overtime and salaries, particularly when members of the workforce have different rates of pay. Staff scheduling software does the legwork for you, calculating overtime, bonuses and salaries according to your specifications.

Software Review 179

Software Review Software Product Technical Review 179

Startup Professionals Musings

MAY 1, 2023

Giving a cofounder a salary won’t get you the “fire in the belly” you want. You need to find the skills or experience you don’t have in business, technology, or money. So, the first question I usually get is what percent of the company or equity is that person worth?

Technical Cofounder 247

Technical Cofounder Equity Distribution Cofounder 247

Startup Professionals Musings

FEBRUARY 9, 2022

In my experience, employees usually leave if they are not satisfied with you, rather than a salary level or role definition. Positive team collaboration is a culture that you must foster to increase productivity and the ability to change with the market. Top employees are leaving for better opportunities.

Leadership 301

Leadership Founder Salary Demand 301

The Startup Magazine

MAY 31, 2022

Payroll management entails several steps, including: Calculating allowances (such as rent and travel expenses) and salary components (variable and net pay). An HR manager’s starting salary in the United States is roughly $90,000 plus benefits. However, when your team grows, managing payroll becomes increasingly difficult.

United States 158

United States Salary UAE Hiring 158

Startup Professionals Musings

FEBRUARY 24, 2020

times base salary range, not including space and equipment requirements. In addition, you can reduce to soft costs of mentoring, relationship building, and socializing. According to a recent MIT study , the true costs of employees are typically in the 1.25 Freelancers are ready to go to work immediately.

Technical Review 308

Technical Review Due Diligence Startup Employee 308

Steve Blank

OCTOBER 10, 2023

I’ll turn my salary into millions of dollars in returns or investments within two years – not singlehandedly – but in a cooperative way that leverages many parts of the company. This all came in handy when negotiating salary, title, and function. We’ll row in unison and we’ll row in the right direction.”

Government 196

Government CTO Hire Technical Review Salary 196

The Startup Magazine

MARCH 2, 2023

The salaries for both IT and computer science specialists are among the highest , although they vary widely based on your level of knowledge, skills, and expertise acquired. As for IT, some popular professions include technical support specialist, IT project manager, network engineer, and IT consultant.

Technical Review 147

Technical Review Software Review Database Salary 147

Startup Professionals Musings

SEPTEMBER 10, 2018

Giving a co-founder a salary won’t get you the “fire in the belly” you want. You need to find the skills or experience you don’t have in business, technology, or money. So the first question I usually get is what percent of the company or equity is that person worth?

Equity 238

Equity Cofounder Technical Cofounder Intellectual Property 238

Both Sides of the Table

NOVEMBER 5, 2014

There are those amongst us the are willing to abandon the comforts of a job with a salary and perhaps the prestige of being able to tell family members, loved ones and friends that “I work for Google, Goldman Sachs, Apple, FedEx, Verizon or Coca Cola” and instead put out selves out there to potentially look stupid one day.

Technical Review 417

Technical Review South Korea San Francisco Software Review 417

The Startup Magazine

JUNE 14, 2023

Furthermore, an entry-level worker’s departure costs the company 50% of their salary to replace them. One of the best ways to achieve this is by compensating workers with an appropriate wage or salary. There is a way to help lessen the rate at which employees leave your company, and it starts with investing more in your employees.

Employee 158

Employee Retention Salary Programming 158

The Startup Magazine

JULY 2, 2024

Transparent Pay and Benefits To combat ‘quiet quitting’, a phenomenon where employees disengage from their work without formally resigning, consider aligning salaries and pay structures with hard work by offering bonuses or raises to retain valuable employees.

Development Team Review 148

Development Team Review Retention Salary Hiring 148

ReadWriteStart

APRIL 26, 2021

You also have to think about how many resources you’d want to allocate to the project, the number of hours your potential resources would spend, and the salaries you’d offer. They will happily accept entry-level salaries. 4) Hire Skilled and Experienced Developers. However, a startup must be hiring software developers ?

Software 160

Software Startup Hiring Salary 160

YoungUpstarts

AUGUST 18, 2020

Liabilities are anything that the company owes, often coming with the word “payable,” and may include items such debt owed to creditors and salaries due to employees. Once you have tallied all existing assets, subtract liabilities to come to a determination of the company’s net assets.

Balance Sheet 195

Balance Sheet Valuation Software Review .Net 195

Startup Professionals Musings

SEPTEMBER 22, 2023

Companies with great service routinely spend 3% to 5% of salaries training team members – experienced as well as new. The process must be employee friendly, as well as customer friendly, and have feedback mechanisms to correct poor results. If service employees are not happy, the process isn’t working yet. Train and coach continuously.

Technical Review 249

Technical Review Salary Metrics Matching 249

Startup Professionals Musings

SEPTEMBER 8, 2019

This could work to get you legal or accounting services, but won’t get you cash to pay employee salaries. An example would be getting free office space by agreeing to be the property manager for the owner.

Equity 235

Equity Angel Investor Technical Review Exit Strategy 235

YoungUpstarts

AUGUST 31, 2020

Alternatively, individual VA contractors can be hired for a monthly salary, or workers for short gigs can be found via Fiverr or TaskRabbit. While this option is good for short gigs due to no upfront costs, it can be expensive for continuous or recurring labor.

Artificial Inteligence 214

Artificial Inteligence Mali Management Technical Review 214

The Startup Magazine

DECEMBER 21, 2022

After all, nonprofits have operational expenses such as rent, energy bills, and salaries. If nonprofits want to attract top executives, then they must also pay competitive salaries and need the nonprofit fundraising to support it. But funds are just as important to a nonprofit. Credit: Alexander Suhorucov via Pexels.

Social Media 158

Social Media Government Salary Software Review 158

Both Sides of the Table

JUNE 30, 2016

It forces you to keep salaries reasonable in a market where wage inflation has been the norm for years. It forces harder decisions about whom you’ll hire and whom you’ll delay. It forces you to negotiate harder on your office lease and take more frugal space.

Pre-Money Valuation 292

Pre-Money Valuation Valuation Early Stage Startup 292

YoungUpstarts

AUGUST 3, 2020

For example, in January 1914, Henry Ford doubled his workers’ salary to $5 a day to ensure a stable workforce-a workforce that could afford the product they are making. If they will stop supporting the buyers, who are ultimately their workers, it would, later on, impact their business.

Leadership 189

Leadership Technical Review Java Software Review 189

Steve Blank

NOVEMBER 1, 2017

Often the short-term cuts directly affect employee salaries, jobs, and long-term investment in R&D. The bad news is once they take control of a company, long-term investment is not the goal of an activist investor. They often kill any long-term strategic initiatives. The first things to go are R&D centers and innovation initiatives.

Institutional Investors 271

Institutional Investors Dividend Stock Technical Review 271

YoungUpstarts

JUNE 28, 2022

The post Today’s Job Seekers Aren’t Just Looking For Salary. Pay, benefits, greater work-life balance and better personal wellbeing top the list when it comes to what employees want in their next job. Here’s What They Really Want. appeared first on Young Upstarts.

Salary 242

Salary Employee Hiring 242

The Startup Magazine

APRIL 2, 2022

Afterward, ask them their expected salary for the project and their availability. Moreover, it is important to discuss compensations and workload promptly with your freelancer/s. You can share your budget for the task or project and its duration with them. Be willing to pay for their skills’ worth.

Salary 173

Salary Hiring Portfolio Cost 173

The Startup Magazine

JANUARY 10, 2022

In an outstaffing environment, it is easier and faster to find a job with a salary that matches the level of knowledge and skills of the candidate. Therefore, you should carefully select such a company. What are the advantages and disadvantages for professionals?

Java 165

Java PHP Salary Technical Review 165