1) 75-100% of your current salary 2) 50-75% of your current salary 3) 25-50% of your current salary 4) 0-25%of your current salary
Most startups or businesses will not be able to pay more than 25% of salaries to founders in the first year. This is if things go well. In many cases this will be zero. It is best for entrepreneurs to pick up consulting assignments during the first year.
By second year things become better this number may go upto 50% but that is tough to achieve especially if business does not do well. It is important for entrepreneurs to build a constant revenue stream.
By third year this number could bump upto 75% however it all depends on how well your startup does. It is important to start to build multiple revenue streams.
By fourth year if things have gone well it may reach 100% but this is only if things have gone really well. Most startups may still not be able to pay full salaries to founders hence many founders quit & go back to a job.
Once you have done it for one startup then it becomes much easier & faster the next time.
So before you startup be prepared for a zero salary.
Are you ready? Thoughts?
You can register for our next storytelling workshop at www.multimediastudio.net