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Akshat Chaudhry

๐Ÿ‘ค Speaker
214 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

That would be number one.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

We grade the people at the company based on various factors, but the impact is essentially the seniority that you have and then the number of years you have spent at BlogVault.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

For example, if you are a very senior person but you have only spent a year in BlogVault, then the profit share would be lower than a person who might be junior than you but has spent five years at BlogVault.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

So it would be tens of thousands of dollars would be...

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

So it depends on many factors, frankly.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

We give up almost 20% of our profit as part of the profit share.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

But it, again, depends on how you want to structure it.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

Yes.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

You have to finish a year to participate.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

Yeah, it's higher than that.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

Yeah, but it is.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

So for...

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

Honestly, I don't have the numbers or the formula in front of me.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

But what we have done is we have assigned a grade and we convert.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

So the way we do it is, for simplicity's sake, suppose you have been here for five years with us.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

And for five years, suppose the multiplier we add is five.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

Though I don't know the exact multiplier.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

I have the exact multiplier in front of me.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

And your grade is five.

SaaS Interviews with CEOs, Startups, Founders
How to Set Up Profit Sharing Plan from $2m+ Bootstrapper

And your grade is 10.