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Founders, How to Tell the Board "I Need a New Deal"
Podcast |
Startup Therapy
Publisher |
Startups.com
Media Type |
audio
Categories Via RSS |
Business
Publication Date |
Jan 09, 2023
Episode Duration |
00:31:44

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:

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
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?

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:

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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