Startup CEO Reward Structure

A CEO of a new venture needs a Startup CEO Reward Structure to reward him/her.  No one else will provide it for you.  This is to reward yourself for completing a task or accomplishing something worthwhile. I suggest that you should be earning 5-7 rewards per week; of various sizes.

Startup CEO Reward Structure

So tune your reward structure so that you earn five to seven rewards per week.  Rewards should also be tuned to the magnitude of the achievement.  Here are a few examples:

  • A cup of coffee for finally reaching that elusive prospect that you met at the last conference
  • A special dinner for closing a small deal
  • A new suit or new pair of shoes for solving that difficult problem
  • A trip to London or San Francisco for closing that $100K deal.  Take your wife or girlfriend or best friend.  She will ensure that you keep the Startup CEO Reward Structure in place after you share a reward of any size with her.

Benefit To You

You will likely enjoy memorializing your achievements.  No one else is likely to do it for you.  To receive your reward; you can time this as you wish.  While experiencing your reward; you can savor your achievement.  And many of the lesser rewards will be free.  You were probably going to buy that coffee anyway.  You need that new suit or new pair of shoes.  The cost of the more expensive rewards can be covered by the achievement.

Conclusion

When I coach new venture/startup CEOs; the thing they say changes their life the most ….. is establishing a Startup CEO Reward Structure.  In my experience it is easier to convince a Silicon Valley CEO to implement a Reward Structure; than a CEO in the EU.  Please consider doing this for yourself!

Enjoy, your achievements and your rewards!

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2 Responses to Startup CEO Reward Structure

  1. This is a very efficient system to keep yourself productive. I usually procrastinate and don’t get anything done if I don’t expect anything in return. Everybody wants an instant reward, so regardless of the possible benefit hard work can get them, they will only do what instantly rewards them. However on top of self-rewards, I would recommend watching ‘inspirational’ or ‘motivational’ videos on YouTube. Similar to a self-rewarding system, these videos will motivate you when you are procrastinating, or don’t feel like working. This has been my system for years, and it is still working great! Back when I was seeking instant rewards, I wasn’t getting work done, because it seemed useless to me. I like the four examples you provided in the article. What self-rewards does everyone else use to increase production?

    • I hadn’t thought of watching videos – I’ll try it. My secret indulgence is books – not ebooks, actual honest-to-goodness hardcopy books. The tough part is not paying for them but taking the time to pick something out that I can order. So I reward myself by taking 15-20 minutes of time an entrepreneur like myself doesn’t have to pick out a new book on Amazon. OR… I’ll buy an Audible audiobook there that I can listen to when I’m at the gym – this is my reward for taking care of myself physically.

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