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Steven Benson

๐Ÿ‘ค Speaker
381 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

not giving people equity in such a way that a founder vests over the same, the same way as an employee would meaning an employee, you know, standard is for them to invest over four years.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

Right.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

So I would actually, I would, I would, I think it's better with, with founders to not give them, give them their full package vesting over.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

Um, we are, but this is more of a learning from, uh, a learning for me that I would do it differently.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

So, um, the, the way I would suggest would be a better way to do it is take a small slice of it.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

Like the, uh, the amount that you would give like an early VP or, or someone who's, who's, who's high up in the organization, but not, not a founder and give them and invest that portion over four years and then have the rest of us at, uh,

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

Vest upon changing control or purchase liquidity because then.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

No, no, no.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

I would say you do.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

We do.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

We do.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

And that's that's you should do that.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

But I'm saying.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

That's a nice chunk of it.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

So let's just say you had three founders, right?

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

Um, well for simplicity's sake, let's just say you had two.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

So if you had two, two founders, you should both vest like two and a half percent over, over, uh, over the course of four years, but then you should both vest 40% upon change of control.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

And what that basically does is mean you're in this for the longterm.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

And if you, you're welcome to walk, but you leave, you leave most of your equity on the table.

SaaS Interviews with CEOs, Startups, Founders
EP 560: Badger Maps Does $1.2M in 2016, $120k MRR, Looking to 3x with CEO Steven Benson

For sure.