Founders, How to Tell the Board "I Need a New Deal"

<p>In today’s Startup Therapy Podcast, Wil and Ryan discuss how founders can talk with the board about their compensation. If you’re a founder and your company is earning a lot of money but you can’t even touch the profit – then maybe it’s time to have that conversation with the board. But how can you even do this without being turned down?</p><p><br></p><p><strong>Sign up for the Startups Newsletter</strong></p><p><a href="https://www.startups.com/newsletter"><strong>https://www.startups.com/newsletter</strong></a></p><p><br></p><p><strong>Resources:</strong></p><ul> <li> <a href="https://www.startups.com/community/startup-therapy">Startup Therapy Podcast</a><strong> </strong> </li> <li><a href="https://www.startups.com/begin">https://www.startups.com/begin</a></li> <li>Join our <a href="https://www.startups.com/community/founder-groups">Network of Top Founders</a> </li> <li>Check in with us on <a href="https://www.linkedin.com/company/startups-co/">LinkedIn</a> | <a href="https://www.linkedin.com/in/wilschroter/">Wil Schroter</a> | <a href="https://www.linkedin.com/in/ryan-rutan/">Ryan Rutan</a> </li> </ul><p><br></p><p><strong>What to Listen For</strong></p><ul> <li>00:00 Intro</li> <li>02:47 How to have this conversation?</li> <li>04:50 Situations when you need to change the deal</li> <li>08:54 Reset expectations</li> <li>10:29 Make it a binary decision</li> <li>12:28 When there’s still a glimmer of hope</li> <li>15:07 The business will become what it needs to be</li> <li>17:04 When you can’t touch your profit</li> <li>19:45 Figure out where you’re going to take your binary decision to</li> <li>23:30 The levers that we need to pull</li> <li>29:43 The board meeting should be nothing but a formality</li> </ul>