The Dos & Don'ts of How to Negotiate Your Salary at a Startup

You are well on your way to fulfilling your dreams as you consider an offer from a startup. The homework has been done. The company’s model is sound. You see great potential in its future. It is an offer, so the door is open to #negotiate. As a startup, though, you have to consider the possibilities from a realistic perspective.

The critical question is how to negotiate your salary at a startup that is in its fledgling stage but could soon experience wildfire growth making it capable of better compensation.These are the do’s and don’ts of how to negotiate your salary at a startup:

DO

1. Research The Numbers–Research salaries for similar positions at companies that are not only in the same industry, but of comparable size. Next, consider the company’s potential for financial growth within the next few years. You may want to conduct a pre-IPO research. Here, let me google that for you. Once you determine the viability of the company, examine your own situation. What is the absolute bottom line you could accept and still live the life you want? Establish your baseline, determine a potential earnings ceiling, then you have the numbers range to work with.
2. Consider Equity– Some offers will include equity. If an offer does not include equity, this could become a negotiating point to sweeten up the offer. Ask exactly what future potential there is for equity. Whether equity is part of an initial offer, or a future prospect, determine its value and the percentage of the company it represents. Post-IPO determination of equity value is easy. However, if a company is in pre-IPO stages many different factors come into play. Although there are many formulas that can be used, it may be simpler to ask the founders of the company which formula they used, what the total number of shares are, and if there are any future plans to increase the number of shares.
3. Prioritize– The art of negotiating is for everyone to walk away feeling like a winner. Meet face to face and have a conversation about what really matters to you the most. Present your case honestly and back up your arguments with data. Although perks like paid vacation time are great, overall, the most valuable priority of any job is salary. However, if it’s just not possible for a company to meet your salary desires, you can then turn to the potential of equity for increasing the value of their offer. Or, go start your own without paying yourself a salary...

Don’t

1. Make It Personal– Prospective employers do not need to know how much your child’s private school tuition is or what your mortgage commitments are. A meeting to negotiate a job offer is about what the company can do for you and what you can bring to the table in return.
2. Argue Incentives– Incentive based compensation (MBOs) is often a feature of larger companies. It is not practical to expect it with a startup. For a startup, the focus is growth, rapid growth preferably. Incentivized bonus based compensation generally does not come into play at the startup stage of the game for companies. So, stick to salary and equity.
3. Wait Too Long– Time is a critical factor where employment is concerned. A startup has to become productive quickly. When negotiating, stick to the most important factors, salary and equity. Keep negotiations simple and seal the deal quickly. Negotiations should be a basic 3-step dance: 

• Offer from a company
• Counter offer from you
• Acceptance, rejection or counter offer from company
  

Did you know 56% of hiring managers think a personal website is the most impressive branding tool and only 7% of job seekers have them?  We can build you one, with no long-term commitment: contact us today. 

Why Founders on Snapchat will Succeed Faster

Businesses have to have social media strategies, they say. But it keeps getting harder! With Instagram, your pictures have to be gorgeous, and now we have Snapchat, where nothing is perfect. Nothing is hidden. And it is transparent. Here’s why Founders who are on Snapchat stand a better chance at success than their more quiet counterparts…

Welcome to 2016: the age when everyone is seeking transparency more than ever. And for that, we can thank the rapid advancement of technology that is so readily available to us. When a business is being marketed, people want to see the face behind it, not some glossy corporate logo. That is whypersonal branding on Snapchat is so necessary today and for businesses who are still trying to understand it, here are three reasons why Founder on Snapchat will thrive:

• The Connection With Your Audience: Your customers want a human connection. When they buy your service or product, they want to be sure you are someone they can trust. To gain their trust, you have to put yourself out there.
• Part of the way you accomplish this is by setting up personal social media accounts in addition to Snapchat to maximize communicate with your audience. Show them you are a Founder that really wants to help all people similar your customers.
• Establishing Your Expertise: Personal branding is critical no matter the size of the business. But for businesses that are smaller or just starting out, it is especially advantageous. When you take the time to craft your personal image, you can steadily establish yourself as an expert in your industry. When you’re posting to Snapchat, you’re sharpening your message and communication skills.
• You Will Stand Out: Personal branding offers you a certain edge since there are still many people who haven’t taken advantage of the power it offers. Developing a personal brand on Snapchat is a way to differentiate yourself and stand out from the rest of the crowd. Implement a personal branding strategy in everything from your social media presence to your portfolio.

For more information on personal branding, ask me a question on Snapchat. My username is ‘handshakin’ and I post personal branding tips daily.

MUST READ Pro Tip: Snapchat doesn’t have a discovery feature, so it’s very difficult to build an audience aside from driving it from your other social media accounts (see my twitter profile picture is my Snapchat code)…

There’s a brand new app called ghostcodes.com where people can find Snapchat accounts to follow. Make sure to download it and add your account before they have their public launch next week. If you need an invite code, use ‘spooks’. Snapchat me at ‘handshakin’ and we can swap hearts to increase both of our exposure.

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Originally published at www.handshakin.com.

How to Create Real Relationships From Social Networking

As a new entrepreneur, networking is your biggest ally in helping your business grow. Connections can be made formally at a conference or through casual conversation while standing in line at the grocery store. And with innovations in social media platforms, comes even more opportunities for productive networking...

So, how do you get started successfully forming genuine relationships online? Here are some tips that will help build a strong social network:

Reach out to others out of interest, not necessity: Social media offers opportunities to quickly connect with others over current events, industry happenings, or new ideas. Reach out to those with common interests, and share information or links your connections could benefit from or that you think would start a productive conversation. Remember when creating a new relationship, it is often more beneficial to give than receive. Keep in contact, check-in twice a year and see what you can do for them.

Find connections on your playing field: Social media allows you to connect with others you may have never had the opportunity to otherwise. However, reaching out to someone who is busy with a larger following often leads to your wasted time and an undeveloped contact. Find someone with similar interests and goals that will give you the deserved time and attention. These connections will also provide you leverage with other like-minded professionals and business owners.

Try out different social media platforms: There are a variety of different platforms that you can employ for your business. Figure out who you want to connect with and what kind of information you want to share. LinkedIn is a must have for new business owners to build credibility and find professional contacts. Platforms like Twitter, Facebook, and Instagram are great for quickly sharing and connecting over content – be it news, works in progress, or relatable links.
Pro tip:  Creating a blog or Youtube channel can be effective ways to create more in-depth, personable content that is still easily available and shareable. Evaluate what kind of audience you’re appealing to and test out some of these different platforms for sharing your business.

Social networking is an important part of building your business, and if done right you can end up with strong professional relationships. You may never know where your connections take you or what opportunities are available, so make sure you’re ready and your content reflects the approachable, proficient business owner you are. For more information on networking, online or in person, check out our product HandBrander to help grow your personal brand.

Personal Branding Tips for New Freelancers

As a freelancer, you are responsible for creating and maintaining your image and reputation and for promoting the products and services you offer. This can be quite a difficult task, especially if you are relatively new to freelancing. Consider these few personal branding tips, which are useful to all freelancers, but especially to newbies.

Exude Uniqueness. #findyourniche

When starting out, many have the tendency to just do what others are doing. Though it can be great and very helpful to have a role model, you also need to stand out from those who are in the same industry and offering the same products and services as you. If you essentially “copy” an already established freelancer with a loyal client base, how much success will you have? deep knowledge and expertise

If you essentially “copy” an already established freelancer with a loyal client base, how much success will you have? Likely not nearly as much as that established freelancer. If you unknowingly “copy” a not-so-successful freelancer, how much success will you have? Have you even drawn out what success means to you and given yourself a deadline to reach it?

Instead of doing only what others are doing or only offering what they offer, why not offer something completely unique? Find your niche, sharpen it, and do what the others are not willing to do in order to establish it. Then others will want to copy you.

Be Real. #onlinetransparency

Make sure not just to “talk the talk, “ but also to “walk the walk.” In order for your reputation to remain intact, you want to be known for doing just what you promise. Have some proof that speaks for itself online. Whether it’s a third-party interview, a world record, or video evidence of you “walking the walk.”

You also want to be consistent in your interaction with others. The way that you present your brand should be the way that you present yourself in person as well. Think speech, conduct and dress as a few to start with.

In addition, don’t be afraid to infuse your personality into your work. As long as your presentation of self “agrees” with your brand, it is absolutely fine to be yourself. And, it makes it a lot easier.

Create Awareness. #socialmedia

One of the best things you can do to encourage a solid personal brand, is to create awareness. One of the best ways to do that is by means of social media, where countless numbers of people can be reached. By using several different social media platforms, you can gain maximum exposure and engage with the online community. Tweet me @handshakin if you agree.

By implementing the above 3 tips, new freelancers can get off to a great start and more experienced freelancers can refresh and strengthen their personal brands. If you’re too busy, check out our HandBrander to help you become an expert in your industry as soon as possible.

The Furthest I've Gone to Schedule a Guest

Recently, my friend Mike Kilcoyne asked me to blog about this. For those of you I haven’t met yet, I’m the Founder and host of the Handshakin Video Series, featuring today’s top entrepreneurs on networking and personal branding strategies. Here’s the craziest thing I’ve done to get a guest to sit down on camera with me…

So, like, I’ve done a lot of crazy things to get people’s attention. Today, we are able to schedule about one billionaire per month — finding the attention of future Handshakin guests is not a problem. But that wasn’t always the case.

In 2015, when I had only interviewed 3–4 guests, I knew who I wanted to interview. His name was Brad Feld, who is a highly popular venture capitalist with Foundry Group. He has a killer personal brand, and is an incredible thought leader for Colorado Entrepreneurs. This really attracted me to ask him to be on my video series, but it was scary…

I actually got a response when I first emailed him!!

But then the conversation went cold. Probably because I was making the wrong ask and rambling. And my email signature, nickname, and subject line SUCKED.

-But I wasn’t about to give up there: The next time I was in Boulder (where Foundry Group is based) I walked straight into their headquarters and checked in on the iPad and selected “Brad Feld.”

He wasn’t available, so his assistant Mary came to the front to see who was randomly checking in. I met her and told her I was in town from Denver and just wanted to say hi and that I was trying to schedule Brad on my video series. She gave me her information and I told her I would follow-up.

-Next, I followed up with his assistant Mary and learned he was out of town for the dates I proposed. Hmph… what to do next? I’ve put a good amount of effort forward, and I thought I was relevant, and was only getting brief responses that translated to no’s. I gave it a break for a few weeks.

-My last effort was researching an event that Brad was going to be at. He was going to be talking to Startup Grind event and I bothered his assistant again to ask if he had some free time before. She said she’d ask and get back to me. I stayed hopeful. I also sponsored the event, to ensure I got some facetime with Brad at the event in hopes of scheduling after that. But,…

He agreed to schedule an interview before the event! As I’ve learned from many of my guests, polite persistence is key to entrepreneurial success. Was I crazy to randomly stroll into their headquarters? How about email over and over again? No, I’m not. Other successful entrepreneurs are doing way more than what I did here on a daily basis.

YOU should go do something out of your comfort zone today to reach your goals faster. Close this blog post and go take action right now. 
-Or, if you want to build your online credibility to increase your confidence to execute, check out our personal branding service, HandBrander.​

How to Buy a Domain Name for Your Startup

Oftentimes, I’m asked “how do I go about purchasing one?” Or, “what determines the price or value of a domain name?” Also, “someone else owns myname.com, how can I get it?”

Here’s my answer to those questions, as well as a few helpful tips. But first, let’s clarify the two types of domain names that you’re considering purchasing.
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1. A brand new, never registered domain (known as hand-registered domains in the industry).

To purchase domains, I prefer godaddy.com or uniregistry.com.

Pro Tip: Use instantdomainsearch.com to save time before purchasing.

2. A previously owned domain. There’s basically two ways to do this.

-DIrectly from the owner

If someone already owns it, you can find out who (unless they have privacy protected) by typing whois.domaintools.com/handshakin.com, just replacehandshakin.com with the domain name and extension you’re trying to buy. Good luck negotiating with them — you’ll need it!

Pro Tip: Use escrow.com for a secure transaction if you’re negotiating 1-on-1 with the owner/seller.

-Directly from the company

Many companies (including mine) now invest in domain names as appreciating company assets. Although mine is not geared around flipping domain names, we surely want to protect assets that may be of value to us in the future. Most companies that are built around this will have their prices listed one sites like sedo.com and godaddy.com.

Pro Tip: ​Estibot.com is a domain valuation website. It is being adopted quickly in the domain industry although is still new and not always very accurate.If you liked this article, please check out our product HandBrander, where we help entrepreneurs with their online brand.

4 Tips For Shy People To Succeed At Networking

Networking events are the perfect place to meet people to help you grow your business. However, if you are a shy person in nature, they can be your worst fear.

You might think that you can get away without networking but you really need to face your fears so that you can grow your business.

Here are some tips for shy people to succeed at networking.

• Be Yourself. Many people can be pushy and aggressive when they network. There is nothing wrong with being shy and awkward in networking situations. It happens more than you realize. You may even bond with someone over it!
• Ask someone you know to introduce you to others. Though you may want to spend the evening with someone that you know, it defeats the purpose of going to a networking event. Instead, ask that person to introduce you to others. This is much easier than walking up to strangers and introducing yourself!
• Smile at others at the event. If you don’t have someone to introduce you, try smiling at others. This can be seen as an invitation for others to come over and talk to you. Be sure to really listen and join in the conversation. Even if it is not going to help your business, it is good practice.
• Join a club or group that relates to something that you really enjoy. If you enjoy reading, join a book club. If you like to watch football, find others that like the same thing. Once you get more comfortable around new people that have similar interests, you will have an easier time opening up to people that don’t.

Shy people may have trouble at networking events but, with some practice, they can still do well. They should always be themselves because most of the people at the event are also feeling a bit awkward! If you know someone, feel free to ask someone to introduce you around. If not, be sure to smile at others to invite them over to you. You might want to practice networking by joining a group of people who like similar things like reading books or watching football. Once you get over talking about something you love, it will be easier at a networking event.

Contact us to help you with your networking, both online and off!