4 ms·

This deck is over a year old. A lot has changed. I'm not really a fan of disclosing actual revenue numbers because that opens a whole other can of worms. As su

This deck is over a year old. A lot has changed. I'm not really a fan of disclosing actual revenue numbers because that opens a whole other can of worms. As such, I chose revenue and how it related to our ability to pay me a salary.

Simucal 14y ago
If you don't mind me asking, have you hit your goal of earning your pre-Sifter salary yet? In the slides it looked like you were close. Also, is your partner on full time as well or still part time in your venture? I have a co-founder that I'm starting a small business with and we frequently talk about what level of reduced salary we would accept to come on full time to grow the business.
- garrettdimon 14y ago
  I have finally hit my pre-Sifter salary. We could have technically afforded it a while ago, but we only recently decided to make the adjustment. Of course, that was my salary 5 years ago, and from what I've gathered, I'm still way under what I could be making elsewhere--especially if you factor in benefits. Keith, my partner, has never been full-time. He's always been involved at about 5-10 hours per month, and that's still the case these days as well. I have a blog post that talks about the pay cut side of things a bit on my blog. http://garrettdimon.com/post/34571624540/can-you-afford-a-pay-cut http://garrettdimon.com/post/34571624540/can-you-afford-a-pa...
  - iaskwhy 14y ago
    You do you decide Keith's salary? I'm not looking for numbers, more like the logic behind it (number of hours put in?, something else?). I will have this "problem" soon. Thanks for sharing your knowledge!
    - garrettdimon 14y ago
      Keith doesn't draw a salary at all. His equity is large enough that he's simply banking on the day that we stop re-investing 100% of our profit and start paying out some sort of dividends.

4 ms·

This deck is over a year old. A lot has changed. I'm not really a fan of disclosing actual revenue numbers because that opens a whole other can of worms. As su

by garrettdimon 14y ago

Simucal 14y ago
If you don't mind me asking, have you hit your goal of earning your pre-Sifter salary yet? In the slides it looked like you were close. Also, is your partner on full time as well or still part time in your venture? I have a co-founder that I'm starting a small business with and we frequently talk about what level of reduced salary we would accept to come on full time to grow the business.
- garrettdimon 14y ago
  I have finally hit my pre-Sifter salary. We could have technically afforded it a while ago, but we only recently decided to make the adjustment. Of course, that was my salary 5 years ago, and from what I've gathered, I'm still way under what I could be making elsewhere--especially if you factor in benefits. Keith, my partner, has never been full-time. He's always been involved at about 5-10 hours per month, and that's still the case these days as well. I have a blog post that talks about the pay cut side of things a bit on my blog. http://garrettdimon.com/post/34571624540/can-you-afford-a-pay-cut http://garrettdimon.com/post/34571624540/can-you-afford-a-pa...
  - iaskwhy 14y ago
    You do you decide Keith's salary? I'm not looking for numbers, more like the logic behind it (number of hours put in?, something else?). I will have this "problem" soon. Thanks for sharing your knowledge!
    - garrettdimon 14y ago
      Keith doesn't draw a salary at all. His equity is large enough that he's simply banking on the day that we stop re-investing 100% of our profit and start paying out some sort of dividends.