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.
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!