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.
Include Your Labor Value in Your Plan
Investors love it when entrepreneurs draw little or no money from their startups. It extends the cash available for research and other necessary fixed costs and gives the fragile, young company more “runway” to get to breakeven.
How to Set Up Compensation and Benefits at a Startup
Just because a small business can’t afford to offer its employees the same benefits package as a large corporation, doesn’t mean it can’t come up with creative ways to compensate when cash isn’t always available.