Podknife - Founders, How to Tell the Board "I Need a New Deal" by Startup Therapy

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Founders, How to Tell the Board "I Need a New Deal"

Podcast |: Startup Therapy
Publisher |: Startups.com
Media Type |: audio
Podknife tags |: Business,; Entrepreneurship,; Health,; Mental Health,; Startups
Categories Via RSS |: Business
Publication Date |: Jan 09, 2023
Episode Duration |: 00:31:44

Description
iTunes Summary

In today’s Startup Therapy Podcast, Wil and Ryan discuss how founders can talk with the board about their compensation. If you’re a founder and your company is earning a lot of money but you can’t even touch the profit – then maybe it’s time to have that conversation with the board. But how can you even do this without being turned down?

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

Startup Therapy Podcast
https://www.startups.com/begin
Join our Network of Top Founders
Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

00:00 Intro
02:47 How to have this conversation?
04:50 Situations when you need to change the deal
08:54 Reset expectations
10:29 Make it a binary decision
12:28 When there’s still a glimmer of hope
15:07 The business will become what it needs to be
17:04 When you can’t touch your profit
19:45 Figure out where you’re going to take your binary decision to
23:30 The levers that we need to pull
29:43 The board meeting should be nothing but a formality

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

Startup Therapy Podcast
https://www.startups.com/begin
Join our Network of Top Founders
Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

00:00 Intro
02:47 How to have this conversation?
04:50 Situations when you need to change the deal
08:54 Reset expectations
10:29 Make it a binary decision
12:28 When there’s still a glimmer of hope
15:07 The business will become what it needs to be
17:04 When you can’t touch your profit
19:45 Figure out where you’re going to take your binary decision to
23:30 The levers that we need to pull
29:43 The board meeting should be nothing but a formality

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