Founders, How to Tell the Board "I Need a New Deal"
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
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Show Notes
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?
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- Startup Therapy Podcast
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- 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