Founder's Low Salary
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A story about an entrepreneur's journey from severely underpaying himself to adjusting to higher income.
"As an entrepreneur who sold my business, I had a windfall, but leading up to that it was interesting. I ran the company for 4 years, but the first two years I paid myself roughly $24,000 a year, which was so stupid - people should not do that because my business was doing fine, I could have paid myself more.
The third year was more, but it was like $100,000 a year, which in San Francisco is not crazy amounts of money. So there was a long period of 'not a lot, not a lot, not a lot' then 'a lot,' and then it took like another 3 years to acclimate to the reality."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.