Hiring employees when starting up business

[steveyk]

Hello everyone,

I am just starting a business and i have a problem.

I am looking to hire employees and build my team at the moment, but since i am just starting my business, i am not generating any cashflow;therefor i cannot afford to pay wages.

I am looking for ways i can pay employees/team members which is 'non monetary' at the moment until i get some cashflow.

Giving out shares of my business is not an ideal option, however i if it means i have to sacrifice shares of my business in order to build a succesful team then i would be willing to do it.

Can anyone come up with anything inbetween, like options perhaps, or suggestions as how i could negotiate with employees/team members?

Wages <-----------------------------------------------------------------> shares

^anything in between^

Thank you

Steve

[Moneymaka]

It depends on what type of business you are doing.

For example, if you're in the car selling business, you could give them a percentage of each car they sell, instead of paying monthly wages.

[discountedclothing]

That's right a percentage/commission is a great deal.

[steveyk]

Hi moneymaka,

Im in the social networking business where majority of the income will come through advertisement.

Employees i will be trying to recruit are a webmaster and a translator.

I have thought about paying comissions on every deal thats made until cashflow is good enough to pay for wages. Thanks

Any other ideas?

[Chris Brooks]

Besides commission can you offer them trades of some kind. Such as trading the coding of a website with some new software for your designer? Bartering it tricky and kind of old school, but it just might work. Best of luck!