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Manage Your Cash Flow And Share Business Success Benefits - Click To Read Article
Advice For Startups - Manage your cash flow. You can’t spend a lot at the beginning. I was under a mountain of MBA debt coming out of school. I didn’t have the money to pay people top dollar so I used an innovative compensation structure. We had small salaries and large pay-for-performance incentives. If we didn’t sell any work, we didn’t get paid. That was a model that helped the business get off the ground. We offered much lower salaries with a lot of upside potential. With this mode we attracted people who were entrepreneurial. We’re constantly looking to innovate and be entrepreneurs – so this compensation model fits our culture perfectly.
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