Founders — You'll Regret Not Doing This

Startups are an excellent way to make money — for everyone else. [View in browser](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR4_5kh3GV3Zsc37CgJwpW4tkWN31vw_b3W5mqG6j3YjFKDW6cCM3-4GMX4SW7MQcm51kmt3GW2QvC5D1drllnW2tpVfY1SzP_hW3nW4lL8fwDV8W2bh7Nt8n10xyW5Dp01171WcLTW6JlRKz4Cwl_1W5gzPvW6xCZjxW8_f3x55HJn2SW2kGKdV1V8_HZW3LNbn93wRL6TW8XRYQs28gHrhW15lhNP7j_SVRW6b3Wlw7cWtrzW904Ctg6fktRPW7jLnPN8pJ7TNW7wKWFm8rnmqpW7zbbBN8W6jxTW4KP9km3C0D15Vz4rMm82Z97BVY-_qH1CnnYnN8X-5zGPV70lW1zX7tq5Wh03nVR-BQt7RCmQ1N7ZWp7pJpC0KN7zc77DXKpr_W4mBdKw4NwwWyW7C1l0-1NNRsQW3YFgV037HB4x3nt41) Always Take Money off the Table [#235 - Always Take Money off the Table](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR6t3lLBZV1-WJV7CgNRCW6v-WYD6jPQtkW1Z-KVr6wLDjzW3hVwHM425B1DVPPsdP7m_VqXW61l1dM1VcNqZW8t2Hsj5vRBSFW6TnjqF8wX3_PW1cnqHk5blc3NW8rS80K7mMsbLW5t0Q856gnRvGW6V4phZ34ZCMtW3BGj0h1wK_PsW5mkbkL1Dt1Y_W7rjQyw6ZQL0TVXrtHj7QSY5NVcKLrG4t73THW31qm5v3Vb4v0W8x_LD24pY3yhW8flH6f3JzFlMW805QJJ2BD5mnW6jS7_J90HQ8-W8M4Smt8p13tCW1Wz22D4vMXcCVdqs5j888jmrW6VhyW05SS9D8VySCXv3K4nM_320q1) TL;DR: "We're a few years into our startup, and I've yet to really take any money off the table. There are always a million places to spend it, so the idea of putting it in my savings account seems like it will hold back the business. Should I be OK with putting a few bucks in my pocket?" Startups are an excellent way to make money — for everyone else. We all love hearing the story about that super-successful Founder who made a billion dollars growing their startup. Those legends fuel the myth that we "rank and file" Founders must also be swimming in our Scrooge McDuck vaults of cash. Yet, I speak to thousands of Founders and if there's one common thread when it comes to money — it's that most of them are beyond broke! So how is it that we can spend so much time building a wealth engine that doesn't actually provide any wealth for us? Where is all that money going anyway? 113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR693lLBGV1-WJV7CgBSrW7480sk56hLW1W9ffszv1c27srW8gMrHY7TV1RNW6JyJQ518bh8RW7hHFnn8BCv3YW7zhy8T9cZxMBVqpk899012X3W32M2Ly535GpLW316Cy32bL8MxW1W_7jN2hmThfW8vsH-v8fx5JYVdzpVb2f6_w1W1G4_Z-99GnjpW8QXvZS40qD55W3w4GDh76kGJgW5zX3-f94_XR8W4qKt6J48KZXTW4-M6nM6kf3b9W7JZrZc1xxZdvW2_RXP08BLrSFN5n2GfV6--KVVHcs-q93vgMRW4XzVvz4xYD45Vzl2Gp76qF1j3h3f1 Today’s Advice Sponsored by [Google](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR4_5nCTJV3Zsc37CgCcNW1z_Yhg853__9N68glBNNQ44GW5QvSTn85dhVFW34B86T1Dmx0dW2wVmrZ2t7JMzW5n97NJ5-cGWtW8xmkb36zgnsYW4Lhv8C29Fv-MW3pGKHX2YkrcNW3nS27B6YQMslW1yGNgy7Hlm1-W89Z0ZN94Df9rW4td_7t2wX1J7W7dj7wF5LpTBNW8QC32z1MXHJCW48FBDw4Zwp89W5C753F882tG5W6Xx6zp5VBJb1W7-dPyM7kV4X0Vj1YNb62N07GW3bl__h3jYJWRMXn2QPSY_VGW1R8wZL71l3C3W7kgLWN5yPxLyW139qVQ8V8mbBW33GdX67JmykqVTdR_x4vHZMCW2B4N2N5-Y3BsW42CYRP5SPj4_N5XwqmS1bQnpVt7DQM3RdhTtW5wcz9p4PLrWz31wK1) "Back of the Line, Pal!" The problem starts with us. When we launch our startup, we're wildly resource-constrained, so we start off by sacrificing our own needs for the good of our startup. We run up our credit cards, we personally guarantee loans and use every penny we have to pay everyone but ourselves. This initial requirement becomes a habit. We get used to being at the back of the line to getting paid, so we become willing to forgo our income for the benefit of our startup. Even if we successfully raise outside funding, we'll be told to defer a "market salary" in favor of our equity value. We agree because it sounds like the right thing to do. Yet again, that initial behavior of putting ourselves at the back of the line persists. What we don't realize is that there is never going to be someone that grabs our arm and moves us to the front of the line, VIP-style. Get it While You Can There is rarely a point where our startup doesn't need capital or resources that we don't have. Yes, sometimes we actually become profitable and can make some cash (usually after we've already lost a ton), but it's rare. Most of the time, we're forever under-capitalized, so the idea of "dividing up some profit" sounds more like a dream than a reality. Yet, occasionally, we have an opportunity to take a little money off the table. Maybe it's during a funding round (rarely), or maybe we had a good quarter or a good year. Whatever that little windfall might look like, what we need to do is recognize that this may be the last time we get to take a little cheddar home. Most of the time, we won't! We'll forgo it to feed the business while starving our poor little bank account. What we miss in those moments is that every opportunity we forgo to take a little money off the table is an opportunity we may never get again. And that's where we mess this all up. Take First, Pay Out Second This isn't a matter of greed; it's a matter of prudence. If we don't recognize as Founders that taking money off the table whenever we can is a necessary step to maintain our own survival, we are going to regret it. That may mean increasing our salary. That might mean taking a tiny quarterly distribution. It doesn't have to be crazy, it just can't be zero. We have to get in the habit of knowing that whatever we don't claim, the business will claim for us every time. I've yet to meet a Founder in 30 years that said, "I have to say, I really wish I had never taken that money off the table." Not a single one. But I have a countless list of Founders who have said, "Damn, if I hadn't taken that money off the table when I had an opportunity, I'd have nothing to show for it." It's your money. You've earned it. Take it off the table. You'll only regret NOT doing it. [View Full Article Here](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR6t3lLBZV1-WJV7CgHH_W3n8_Pb1sqHRQW9gNJz120WqkvVtNwRy1F6PPxW80JgFG5G-Gd7W74VPLs1ZxzmMMfYb1CxKP53TxSt18zMnw_W6MFsCg81r2zqW5H_M1P5Cfjr3W3D7zMR4__qp8W6-bzLT5tnLnTW2lC7nD6NxKL-W56PfRg5_xq4TW7VpNWC17r932W2Qkpgx4rb-9HW2gbwNQ1y06-6V53_hq9bZf4lW1DgsXr2W_WxjW4jRHf_1jv4gcW2Kxq9V7vBSTDN2z4RHGM463sW5p3pk81CTdyvW3Cb6lc7LczbzW7L5zFv7hDd2rVdWBC58l_l9DW8BN7wH3y5zCY3kYX1) [Screenshot 2023-03-28 at 3.04.31 PM](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR693lLBGV1-WJV7CgSlcW7HHCdM4sykKgVMHbTr6WbN2WW36G9mm363T-vW5XsKpp1wkQzDW44YMxB40Bl3DW596gyS3JnB95W1Rm5X63h3Sr6W7pblP41Pz_DmW6jWc-123lVYdW5RxLjT5t6KJ-W7q1q4f4kfqF2W497_X86flhqkW1J-79p20ctsTW7g2RWd4CWHKZW5fPKNk6_DmGJW8FQRHr70_tKLW6hSrT03fN_ScW1fvhp97hW66kW7l0nZZ1tSwzbW65SQ8w6kCZ2fW2MYrL41DBH8ZN88fg27kR1ScW7n85cs3__-4FW1gxGHM1wZVll3lbv1) [Google Cloud](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR4_5nCTJV3Zsc37Cg-V_W8-f6y97hN6pJW4gcb1W6zsVyWW2Ts_Cb18B3xCW215nzg21bB8JW5gyHB_29SpysW5VJP411fSZCjW8b1jV-5MrlJ_N3BVDwXvWXZ3W6gs6y21BdXWFW4Gc1jk1pdwjbW3NnMcw5FpcxbW8sYSRF70n0PvW668zG511VQPyW2f4mX785rRXtW7h8RCB7Kz1TnW95Vvqh1r6Nn5N2Q51P-LvF3ZM_tQkFd_GWnN8l26GHplqc6W89DrCT3ZkbrGW4QGgvt7pg7XGW7hHlY078Yc8yW1mT8mT30Rv1FW6ClrBT5R7CjkN1-VrLhQcRkhVX51j-7FD3pTW91WcX696Hd_hW8pWPQ318SvqxW567kCv7NQ19NW2xgTJf1YLwQqN4mQRdk7zyk_W5_Ld558d9KTP3mpB1) has the tools to help you build and scale your startups fast, securely & cost-effectively. We are really excited to extend the Google for Startups Cloud Program to our founders. The [Google for Startups Cloud Program](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR4_5nCTJV3Zsc37CgMGBVBZ-gS2mSBL0W1yrNCr6ZfCz9W58Xxfw3gmTM0W6tSf6r2fK2tQW5DBxS-1-NXx4W5YBggv4C5G7lN6jsk4l3fY40W2sTW_911xbqLW19RJR71vLZtlW48k7J56n4mrBW6q35lD17-LP5W8B3WZK99Wm_qW7C7KG074YGp9N2t2XcNXZ45PW1w6t_58QGPXCW5sphBq5RVsjGVkrQrF879qCPW5pN0yG8SCfqGW9hT3lR7HgxMvVp0X3V5_PWGbW7mNtJB1-r5tFW8zYF5N90W4cwW8M593Z8YCbnMM6f50Csvfc2W5HZ3zV58p0qbW8qf1jN8d3HYNW3dSqYG2xdZrSW84lPHs1Z-ZdjW6p_q8x2qF8tVW3RzZnY1nkq5yN965fS044d-QW1sDpls1VTHzb3f7d1) is designed to give you the financial, business, and technical support you need. This program gives eligible startups access to Google experts, Google Cloud credits, Google-wide offers as well as additional benefits listed below: - Credits: If you’re early in your startup journey and not yet backed with equity funding, you’ll have access to $2,000 of Google Cloud credits for up to two years. If you’re backed with equity funding, then your first year of Google Cloud and Firebase usage is covered with credits up to $100,000. Plus, in year two get 20% of Google Cloud and Firebase usage covered, up to an additional $100,000 in credits. - Google-wide discounts: 12 months free Google Workspace Business Plus for new signups and discounts on the Google Maps Platform. - Training: Google Cloud Skills Boost credits up to $500 giving access to online courses and hands-on labs. - Technical support: Scaled support and technical enablement for all. Equity-funded startups receive Google Cloud Enhanced Support credits for one year. - Business Support & Networking: Access to our global Google Cloud Startup Community, co-marketing opportunities for select startups, and a Startup Success Manager for funded startups. Program applications are reviewed and approved based on the eligibility requirements [here](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR5V3lLBmV1-WJV7Cg-SzW1lHxJn6LQ6CvW3KTPPs7rhZtLW1---KB6rdGPtW5lWhSv2Tw1jQW3Kzk-w4--4r7VDFpKK52_gsxN3dJK6Tb9zDkW4sBBtS6wPZbpW71QJtV4L-hzSW30D9c53jd4G_W2C2Stx93BcfnW6TWK9r19LV4YW8SJk2v6mhCxQN33SDr6hl16JN7dp_RzzlcbMW5-FyXr95TlBWW6kCJ4_5mGfHsW8SgMrv2lB8NQW7Wnp_h5KkzLXW1xSG6P2l9WnHW134cYv271YXrW76GG-n5dWzL63pbC1). [Apply today!](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR4_5nCTJV3Zsc37CgYC7W6TJDDG4d7j8WW53f0yp9g4cLNN8--PyHWDtx8W4dyYyG6q2dj7W35-zTN7LqmyWW2jj7fB6jq_BXN6mq00lMhsS-W44jLrN1YD6ZcW8szmvf2N2bRRW56lC0j221VW-W1Wxb3T3rLvV2V_6sq71fMHzsVhp9Px4Qqm-qW5-_gX54vSqVHVJxS2N4pxhsZSJ9B1LNtgJW3JC96q4tnp1MW1Yk0Bc4MDLTNW8GsmHg5l7VL6W8-J0VJ5kbKtpW8_zXmM988YF2W715lKw1hjvYtVHLbF_683PHSW48yFJx3yFkNhW7BWJ9874lxM8W2bsz4R7_1_x4W4-N4TR2QXKdKN2C-gDll9t9vN4tqMKz4rG1xW77y0gZ60p26kV9SfX47tsyHFW4xV3Fc4Gf7F83pfS1) In Case You Missed It [How Much to Pay Yourself](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR5V3lLBmV1-WJV7CgFXpW1fT9RM1YL_qZW2Jyh4127TM4dW9cy2cn2CnJ5CW1WrXdm3bGVbPW6pxC75892VGDN5sG3jP8gy_wN73-MGnFj5kjW83tgV9309_3WW5hlTzr8yDgY7W6QD1MJ6_jQJLW7mgglB2n4P16W4vvr-R4RbVThW7Xpd9c7vKRwNW4lQpr41czgFkW4k8d4c3kWYY7W7WZx1q5tdvY0W3nsRqV6kH4FmN71mM56xmFSDW1YJ3F275CSzHW86xNL786L_mlW1MnZzv5d-vGyV4PDyg5ggbQv3q241) (podcast) As a Founder, how do you determine how much to pay yourself? How much is too much or too little? We’re breaking down the long-debated issue of Founder compensation to help you find the right balance. [How Do I Get More Equity Back?](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR693lLBGV1-WJV7CgHLcV9fM_r5D2Mx6W4ScmRy4KxKr6W5cgQSC4b8qXpW4__1h66NSyZpW566zFM5yXPQRW6Gzg0V2zXG4QW2ZSrv28sg54dN6BqqQ6qWKfTW7Hlc9m3_KPq7W6c10Qt3lnrS8W81mDgF6gLfYyW1BCQ184h4M5wN1Tv0ystZzk3W4-Hmx68-GNylW85hvy01rnPvvV3QtCG1-G5H6W1zvfvv5cCRzZW3x07KB77Qxc-W14qCMz48DWX4W4W53Zy9gb6yzW35J4C05rfh6rW4hF5783p3SxfW8LjdJp8kq3PgN1yQPVmpFQJ93cc61) Giving equity away is easy. Getting it back is super hard. So while we can get some stock back into our coffers, we have to focus more on how quickly we give it away than how we get it back. [When do Founders Get a Raise?](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR693lLBGV1-WJV7CgMW6W7yFNHn2MLq0wW1SF9Xx4MLL7-W3s8Jgy2W6C7fW3qJR4Q8-5NPWW3J8P317WCwv3W5H-7sd4WfWynW7t02f46YY9PdN11jStyg6DrqW7J1QF33kPlq2W4ZwRT_7gLkPNW8-Ztb47T4PRLW2lmDTk2VNBX4W90RLBs1k69rVW4yH2652ptBwmW6kjgl07Ns_3bW8_5vZ6965_VSW6d1s5Y7VB8W3W32pQgW6fN9kKW1SthlJ9knHP6W91TCBq40SzgxW2Cn1BW3LG5gYW6rCvvj3ykZlGN4qgnNhsfStZW3l2j9X45b9Mw33WQ1) For some reason, Founders are incredibly "shy" about giving themselves a raise. So when is the appropriate time to pull ourselves aside and award that long-overdue raise? Love this topic? Hate it? Let's chat on social media! [wil-circle] Wil Schroter Founder & CEO @ Startups.com [wil-twitter](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR5B3lLB3V1-WJV7CgPqPW1X_KFX5_H2vhW5JfwT37SD7tSVSSMXW98RTFmN98Yz3jZDhc_W8Grpgw7ZXSHFV5kvyK4gFvl8W9fGt281hNXVDW435cZt5R56kRW57h4PN5x9rj2W8lDtsT7K6GS6W5fMcPD1tvb_fVLT42l4X_YC1W14FWj06rK_b2W7vwBpW7l08k9W1Z1tHQ3PZ6xnW4Pxcd537mYdYW6V6VlK8K0DRDW3hqSBH7gSFK0W612mR_1rxYsxW75ykbn6Xl7z-3hrL1) [wil-instagram](113/c2XKn04/VWWnS16NcV0hV75_gh7K3PjrW842MfZ4Z00nnN8BHR5B3lLB3V1-WJV7CgCQDW4yqscD5HBV5gW3qSYsx4Z9hCTW4Sdnjc74CyLKW7rxtzG817cvGN1RYMTZNb6T3W7lzvVZ8hsFmkW3gYTXc4VDKkYVvWSzG23fJwrW99KlSg7HNljfW7RxTvc2DzsL5N2YRrqS8ZmgKW1cPmWw4RlBW2W8nxPBm3xMDt-W8Fq3Qs2c945GV2ftzK1kX3SNW3VGClZ36CtbdW8tR7C62Z54TgW5XWRXp1S-xlyW7S5pBL7mlWtCVgmcdx6ZLBxm3d3M1) Startups.com, 470 W Broad St #1246, Columbus, OH 43215, USA, (800) 997-9714 [Unsubscribe]( [Manage preferences](