Tuesday, November 16, 2010

No Salaries at Paperly

I am a big believer that pay should reflect performance. If you don’t succeed, then unfortunately, you don’t get paid, or at least, not as much as someone who has succeeded. Of course, it’s one thing to recite that mantra; it’s a whole other thing to live it. That said, I am proud to say that there is no such thing as a salary at Paperly. As CEO of Paperly, I currently do not receive a salary and neither does Cindy, my wife and Paperly’s co-founder.

Why is this important? Well, for a few reasons:

1. Like all direct selling businesses, Paperly’s Consultants earn commissions and bonuses. Their pay accurately reflects their hard work and effort. It’s the perfect meritocracy. Since their earnings are solely dependent on their output, I believe the same should hold true for my earnings. Which brings me to my second reason...

2. Paperly is ~3 years old and I am proud to say it has far exceeded my expectations. We have 100+ Consultants located in 30 states coast-to-coast who are selling a ton of personalized stationery and gifts. And yet, Paperly has a long way to go before it is where I want it to be. Thus, until it hits my lofty expectations, I don’t feel as if I've "earned" a salary.

3. Lastly, I’m a firm believer that pay drives behavior, and a committed salary – regardless of performance – can cause contentment to settle-in. With Paperly, I am far from content. I plan to continue to drive the business upward and onward. There are so many wonderful opportunities with Paperly, I’d hate for salary to become an obstacle.

I live, breath, eat and sleep for Paperly’s success. I know my Consultants do too. Thus, we are all in this together... where pay reflects success. Personally, I can’t wait to pay my successful Consultants beyond their wildest dreams!

Jay Rudman, CEO * Co-Owner, Paperly

P.S. For more on my philosophy on pay, read my blog entry from June 2010, "Money matters, but it’s not the only thing".

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