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Comp

It's crucial to have open discussions with your team members to understand their motivations, needs, and aspirations. By aligning their interests with the purpose and potential of your startup, you can create a compelling environment that attracts and retains talented individuals, even when monetary compensation is limited. People are often motivated by a combination of factors, including intrinsic satisfaction, personal growth, and a sense of belonging to a meaningful endeavor. Creating a positive and inclusive work environment, fostering open communication, and providing opportunities for autonomy and impact.

Equity​

Offer team members equity in your startup. Granting them ownership stakes in the company aligns their interests with the long-term success of the business. This can be particularly appealing to individuals who believe in your vision and are willing to invest their time and skills in exchange for a share of future profits or a potential exit.

Profit-Sharing​

If your startup generates revenue, you can implement a profit-sharing model where team members receive a percentage of the profits based on their contributions. This approach directly ties their efforts to the financial success of the company, providing them with an incentive to work towards profitability.

Performance-Based Bonuses​

Introduce performance-based bonuses tied to specific milestones or key performance indicators (KPIs). Reward team members with bonuses or additional compensation when they achieve predetermined goals or demonstrate exceptional performance. This approach encourages a results-driven mindset and recognizes and rewards individual and team achievements.

Learning and Development Opportunities​

Emphasize the value of learning and growth within your startup. Offer team members opportunities for professional development, such as attending conferences, workshops, or training programs. By investing in their skills and knowledge, you demonstrate a commitment to their personal and professional advancement, which can be a strong motivator.

Flexible Work Arrangements​

Consider providing flexible work arrangements, such as remote work options or flexible hours. Many individuals value the freedom and autonomy to manage their own schedules. This can be particularly attractive to team members who prioritize work-life balance and have other commitments or interests outside of work.

Recognition and Appreciation​

Regularly acknowledge and appreciate your team members' contributions. A simple thank you, public recognition, or celebrating milestones and achievements can go a long way in motivating and fostering a positive team culture. Additionally, consider non-monetary rewards such as certificates, awards, or small tokens of appreciation to show your gratitude.

Clear Vision and Purpose​

Articulate a compelling vision and purpose for your startup. Communicate the impact and potential of your venture and how each team member contributes to that vision. When individuals feel connected to a greater purpose and understand the value they bring, it can be a powerful intrinsic motivator.

money​

  • the business can’t afford to hire you on hourly
  • a good worker can increase the company’s revenue. the business pays you not me
  • can’t afford to hire you and fund your salary out of my personal bankroll
  • the business has to generate the revenue or take on some of the workload off of the founder’s shoulders so that the founder can generate that revenue

first semester you might not get a sale, second semester say you get your first sale so you charge less money, tell the customer they are getting a $5,000 service for $500. then your third semester by the time you land your second customer charge the $5,000