Non-monetary Startup Rewards and Recognitions 🥳

Non-monetary Startup Rewards and Recognitions.
Eight employee incentives that work better than cash.
In this episode of "Feel the Boot: The Science of Startups," I, discuss seven highly effective motivators and rewards for employees that founders can use to attract and retain top talent. These motivators include having a strong vision, giving employees equity, providing public recognition, delegation and employee empowerment, giving personal attention, tailoring rewards to the individual, and unique “wow” rewards. I emphasize the importance of understanding what motivates individual employees, as what works for one may not work for another. I share two examples of "wow rewards" that have had a significant impact on employees, such as handmade plaques and giving solid gold coins to employees who have put in a "gold medal performance."
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0:00 Intro
1:41 Vision
2:16 Equity
2:57 Public Recognition
5:36 Delegation
6:34 Founder Time & Attention
7:42 Personalization
8:55 Avoiding Anti-Motivation
9:33 “Wow” rewards
Lance Cottrell has been an active startup advisor and startup mentor for over a decade.
He has helped countless startups navigate the key decisions of their journey, like when to take venture capital investment and negotiating term sheets.
He works with many companies in accelerators like Y Combinator and Founder Institute.
He provides help with startup funding including raising venture capital and angel investment.
He can help you achieve liquidity for your company at a high valuation.
Feel the Boot is a startup vlog of tips and advice for early-stage founders.