How to Agree on Salaries For Startup Founders
How to Agree on Salaries For Startup Founders
Photo Credit: Slidebean

 

If you have a new startup and no previous experience, learning through the others' mistakes can save you precious time and money.

Why is a defined relationship with your co-founders the most critical presupposition to success?

"I learned about early vesting and salaries the hard way. In the company I started in 2012, we did have a good vesting agreement, and failing to define salaries spiraled badly. I ended up with about $16,000 in credit card debt, which may not sound like a lot to you, depending on where you live... but 23-year old me, living in Costa Rica where the salary that I could aspire to was $12,000 a year- it looked like I was going to spend the rest of my twenties paying that back."

Luckily, we don't have to make all these mistakes, or at least we don't have to make most of them. We can learn from other entrepreneurs and their experiences.  Watch the clip to hear the rest of the message. 

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