4 ms·
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
by 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 agoI 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 agoYou 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 agoKeith 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.