💥 We announced an exciting change recently at Wildbit: location-agnostic pay. Everyone on the Wildbit team will be paid consistently regardless of where they live, and we’ve benchmarked our compensation to Philadelphia.
We’ve been a remote company from day one, and a software developer in Romania is doing just as exceptional work as someone in Philly. Shouldn’t it be equal pay for equal work? wildbit.com/blog/2021/06/2…
This was something we had hoped to accomplish for many years. And we couldn’t have done it without @leiarollag deep experience. She took an idea—our dream—and modeled the whole thing out to look at real-life scenarios. What would it cost? Who would be affected?
It pays to be product agnostic. @postmarkapp is doing exceptionally well. Our team is great at building high-value, low-maintenance products that provide cash to spend on projects like this one, allowing us to take the profits and give them directly back to the team.
Why Philly? @cnagele and I live here. It’s also where the business is incorporated. Philly is competitive when it comes to comp. It's the next top tier after SF and NYC. The math to get everyone to Philly was not only financially doable, but also very impactful to our team.
Location-agnostic pay is right for us. That doesn’t mean it’s right for everyone. There are some unanswered questions, and some decent arguments around why paying local rates may be the right choice for some companies.
With this change we can firm up the fact that Wildbit would never lower your salary if you move to a place with a lower cost of living, move within roles, or move within teams. That’s not how it works here.
Oh and btw, we’re hiring! 🎉 If you’re looking for a job where you are paid an equitable salary, work 32-hour weeks, with wonderful humans w/strong values in a profitable, calm, people-first, company, apply! 7 open roles now with more roles coming soon: wildbit.com/careers
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Spent some time reflecting on everything that happened over at Basecamp, and realizing that it is important to really understand the role of leadership in a situation like this. Especially as we deliberated, and ultimately removed them from @peoplefirstjobs. A thread 👇
I wrote some words on people-first leadership. I'm intentionally not debating the policies themselves, as brilliant folks with direct impact have shared. My stance is squarely in the "it's bullshit" camp, but this isn't about the policies directly. wildbit.com/blog/2021/05/1…
Because this isn’t about the policies (although I think they’re 💩), it’s about what hangs above them: leadership that is definitely not people-first. Because to be a people-first leader, you must realize that the job is about people, not simply about "getting shit done".
After spending >$3M and ~5 years, we will no longer be working on @conveyor. Nobody was fired. Nobody got a pay cut. Nobody failed to raise a Series B. Instead, we set out on a journey together that was made possible by bootstrapping profitably and putting people first. A thread:
Before I dive in, you can read @cnagele’s post on making tough decisions and the lessons learned on the Wildbit blog: wildbit.com/blog/2020/06/2…
First and foremost, I want to thank all the teams that supported us on this wild ride. You gifted us your time, your energy, and your feedback. We learned so much from you all. ❤️
Best advice I'd give someone just starting out - pick a product where you can charge enough to build the type of business you want. ARPU influences a lot. In B2B, a seemingly small difference of $25/m vs. $50/m can produce a radically different business, especially as you grow.
Queue the obvious: Lower ARPU means you need more customers to hit desired revenue targets. It's not exponentially harder to find someone to pay $50/m than $25/m, but exponentially harder to acquire double the number of paying customers.
An example - a $1 million SAAS product.
$25/m - ~3,300 paying customers
$50/m - ~1,670 paying customers