💸 How Should a Founder Pick His/Her Salary? 💸
With real examples from a startup founder.
Jason Lemkin is the managing director of SaaStr Fund, a $90 Million VC firm focused on early-stage enterprise investments.
Before this, he used to be a founder.
His first startup raised $9 Million in seed funding.
His salary?
The VC set it at $180,000, with a performance-tied bonus.
His second startup raised $2.6 Million in seed funding.
As CEO, his salary was $120k for the first 8-9 months, then $0 for the next 18 months since finances were tight.
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As a founder, you need to manage your salary like any other expense, probably making it as low as possible.
Generally, in the beginning, you might have an amazing VP of sales or marketing that makes more than the founder.
Some ideas of how different people approach it:
→ 75% of the market for founders’ salaries
→ $10k a month
→ Market once you are well funded ($10m+), not until then
How do you think a founder’s salary should be determined? Let me know. 💬👇
Serial Entrepreneur & Investor Helping Startups Become Unstoppable – David Hauser
#entrepreneurship #venturecapital #startup
Source: Jason Lemkin