Startup to Last Funding your startup with a day job
Feb 15, 2022
This episode dives into the balance between a full-time job and startup life, with insights on adaptive compensation models. The hosts share excitement over software enhancements and clever productivity hacks. They explore the odd allure of NFTs and question their underlying value. A listener's query sparks discussion on managing work-life balance amid evolving tech trends. The challenges of marketing strategies and user retention metrics reveal the complexities of navigating a growing business landscape while maintaining clarity and transparency.
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Crafting Employee Profit Sharing
- Rick created a profit sharing and phantom equity agreement for LegUp Health inspired by Less Annoying CRM's model.
- He prioritized fairness across outcomes to ensure employees feel valued in failure or success.
Use W2 Salaries for Employees
- Pay partners W2 salaries for clarity and tax benefits, even if paying yourself through other means is possible.
- W2 status enables tax-free benefits often unavailable to LLC owners or contractors.
Alternate Deep and Admin Weeks
- Try alternating weeks between deep, creative work and administrative catch-up to manage productivity.
- This rhythm reduces pressure and allows sustained focus when working deeply.