Lincoln (Guest post by David Graff.) When we started Hudl in May 2006, we felt strongly that having the right benefits in place was going to be key for helping us build the right workplace environment and making Hudl a place our employees would brag about to their friends and family. Even though my two cofounders and I didn't pay ourselves any salary that year, the day we hired our first intern we started stocking pop and snacks and offering company-sponsored lunches once a week. As soon as we hired our first full-time employee in March 2007, we started offering what we considered to be the core benefits: fully-paid health insurance for any employee, discounted health insurance for their family, and discounted dental and … read more

Urbana (Guest post by Tim Guenther.) Designing and implementing a benefits package can be difficult and costly for startups. Let's face it, most startups are willing to take on something that’s difficult, but being costly is something we can't all do. Most large businesses offer benefits such as health, life, and disability insurance plus other perks like 401K matching contributions and paid time off. These are benefits you can count on – after all, they are in writing (just like most startups, right?). There is a feeling of comfort that comes with acquiring these benefits. They are easy to attach value to, and many of them are a necessity for living a happy, healthy life. But if your startup can't offer these benefits does that mean your benefits don't exist? Here's why I … read more

Des Moines (Guest post by Tej Dhawan.) Launching a startup is fraught with many questions, least of which has to do with employee benefits. Perhaps, it is because no one is making money yet. As with many other decisions the founders make, however, benefits decisions are precedent setting and should be considered carefully. You are creating a sustainable business, right? As you incorporate your business, counsel will help you do things required by law. Minimally, as long as you pay people wages, you are required to pay certain core benefits – social security tax, Medicare tax and unemployment insurance. Missing the above three mandatory taxes is certain to get you and … read more

Des Moines (Guest post by Brian Hemesath.) I'm a huge fan of bootstrapped businesses. Those who bootstrap a business enjoy a unique satisfaction knowing they created value from nothing with very-little-to-no outside financial support. I have started several businesses, successfully exiting two, and along the way I have found a few things to be consistent when starting a business, especially when bootstrapping. The long road ahead Get yourself mentally and financially ready to play the long game and understand that a bootstrapped business controls its own runway. Bad spending decisions are bad for any company, but they impact a bootstrapped business hardest. There are many articles about controlling costs and getting creative with … read more

Omaha (Guest post by Pat Lazure.) Simply put, bootstrapping is about balancing scarce resources. A neophyte entrepreneur may believe that he understands what bootstrapping is all about. In fact, it wasn’t until recently that I understood it myself. The common perception is that bootstrapping is all about juggling financial expenses – but really, there’s a whole garden variety of emotional expenses that comes with it too, and if not managed properly, an entrepreneur can suddenly find himself not just short on cash, but also short on life – devoid of the people, relationships, and things that inspire his or her entrepreneurial ambition. Before jumping in: So you want to start a company? Cool. You should. Ambition is expensive, but so is the cost of doing nothing … read more