Startup myth: The one about founders having to work for free to impress angel investors. This supposedly shows passion. Don’t believe it. Investors want people committed to working their startups, and that usually takes getting them paid. I’ve been getting a lot of upvotes on my answer to this question in Quora: How do entrepreneurs […]
Salary
Avoid These Common Pitfalls When Making Bonus and Raise Decisions
As year-end rituals of handing out raises and bonuses near, it is important to know that it also is a time when you are framing the ethos of your business and anchoring your employees to it. Of course, individuals are interested in how they are performing. But, their perceptions of how they are treated in […]
What Every Employer Should Know About Salary Negotiations
After a long candidate search, you’ve finally found someone who seems to be the ideal match. And, if they’re excited about the prospect of working for you, the situation is almost perfect. But, after a job offer is extended, salary negotiation still typically needs to take place. A qualified candidate will likely come to the table […]
Should You Pay Employees Hourly or a Salary?
If you currently employ W-2 workers in your small business, or you are looking to hire top talent in the future, you’ll likely be faced with the decision on whether to pay employees an hourly wage or to provide them with a salary. Let’s explore what each compensation scenario actually means, along with the pros […]
How Much Should You Pay Your Creative or Tech Professional?
Digital Creative Marketing Professionals are in a class of careers that didn’t really exist a decade ago. Sure, the internet was around, but there wasn’t really much in the way of social media and most businesses hadn’t yet realized the value of existing in the digital space. Now it seems as though there are more […]
Money Motivates
There are many studies that can tell us how various industries reward employees for achievement above a base pay, or beyond expectation.
Startup Salaries: Why Less is More
It’s no surprise many entrepreneurs dream of becoming millionaires. After all, the startups we always hear about are the wildly successful ones. Mark Zuckerberg is now one of the top 20 richest people in the world after starting Facebook in his college dorm room, and Jeff Bezos is worth billions after starting Amazon out of his garage.
Should #Minwage be $100 Per Hour?
If you look at the trending tweets on twitter about #minwage, you can actually see minimum wage inflation just by reading the tweets. These are very compelling memes if they were true, but there’s more to the story.
Minimum Wage of $10 is Maximum Headache for Small Businesses
Raising the minimum wage to $10 or more per hour puts a tremendous burden on small businesses. They’re already hurting from decreased revenues as households reduce spending due to high unemployment.
Should You Scrap Commission for Your Sales Team?
Commission-based sales plans have long been standard in the sales industry. Many small business owners are reluctant to abandon them, believing the widely held opinion that salespeople are primarily motivated by money.
