The Importance of Work and Stability in Entrepreneurship

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In this chapter, the hosts discuss the significance of being willing to put in the effort and prioritize stability when starting a startup. They share personal experiences of juggling multiple responsibilities and stress the importance of mental health. They also provide strategies for managing personal burn rate, including paying off debts, reducing expenses, and having side hustles.

Jason chats with Scott Orn about founder salaries, discussing the trade-offs of starting a company, the importance of board-approved salaries, and equity. They also address gender disparities in founder salaries, managing personal expenses, and investor expectations.

(0:00) Scott Orn joins to discuss founder salaries

(2:25) Trade-offs of starting a company and how salaries increase with funding

(4:41) Role of builder founders and dangers of underpaying oneself

(8:05) Transitioning into entrepreneurship and managing side hustles

(10:03) Importance of board-approved founder salaries and discussing equity

(13:05) Gender disparities in founder salaries and efforts to close the gap

(15:52) Managing personal expenses and company accounts

(17:05) Leading by example and salary distribution within a company

(20:26) Investor expectations and high-value employees earning more than founders

* Check out Kruze: ⁠https://kruzeconsulting.com⁠

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