Jason M. Lemkin paid himself $20k for two years building his company, then sold after 4.5 years. He regrets the impatience poverty created and says founders should pay themselves market rate from the start, not wait for a big exit.
4.5 years
$20,000 per year (first two years)
~$100,000 (year three)
A few hundred thousand dollars (year four)
So I think the other thing, you know, you just didn't give it enough time either. I sold the company at four and a half years, but that was like, I was okay. I don't regret that at all because I wanted to get some financial freedom and I was broke. I think I paid myself the first two years, my salary was 20 grand. The third year, maybe 100. And then the fourth year, I think I paid myself a few hundred thousand dollars. But I was like. I was fucking poor, and so I was impatient. And what you talk about all the time, the worst thing is a tired CEO. And I was a tired. I was. I was tired of being poor, basically. And that was a mistake. By the way, pay yourself way more if you can, is what I've learned. As soon as you can afford it, pay yourself market. Is the learning? Yes. Is the learning always as soon as you can afford it? And you had this other thing on here. You talked about you want 30% of your revenue to be outside of North America.
