Title: Paying Yourself for Sustainability --- Hello and welcome to the Hybrid School Builders Podcast. I'm your host, Rebecca Foley, and I'm so glad you're joining me today. As a fellow grassroots founder, my goal is to make your journey toward founding a sustainable hybrid school a bit easier. If you dream of starting a hybrid school or you've already started, you're in the right place. Join me as we dive into real stories, practical tips, and hard-won lessons from my experiences to help you launch and grow your program with confidence. Remember, building a hybrid school isn't just about creating a business or jobs. It's about reshaping the landscape of education, one community, one entrepreneur, and one program at a time. --- ### Facing the Common Founder Dilemma: Paying Yourself Today, I want to address a question many founders grapple with: how to pay yourself. This topic bridges the gap between staffing structure and budgeting. You need a robust, informed budget, which often requires a clear vision of what you want your program to look like in three years. It's crucial to avoid the trap of underpaying yourself or working for free just to meet growth demands or avoid hiking tuition significantly after opening. --- ### Building a Vision for Sustainability Start with a preliminary budget, informed by real numbers, even if they're derived from peers or similar models. A sample budget from my strategic planning course can serve as a sound foundation. Keep in mind, however, that variables such as wages and rents differ per region, so local market research is vital. --- ### Crafting a Sound Infrastructure Your three or five-year vision will dictate the necessary staffing and infrastructure. For instance, if your vision is to expand through several grades, you'll need a clear strategy on staffing as your program grows. Allocating funds properly ensures sustainability, avoiding burnout, and maintaining a fair pay structure for all roles. --- ### Estimating and Structuring Salaries While flowing through the planning stages, remember the competitive wages in your area, including your own. Do the research on what fair salaries look like for directors and teachers, and establish a sustainable budget. Accounting for expenses like taxes and insurance is essential for accuracy. In the early stages, as an entrepreneur, you might need to rely on goodwill and patience to reach the revenue goals you envision. Filling the classes and spreading positive word-of-mouth effectively takes time. --- ### Setting Tuition to Cover Costs Once you've tabulated your costs, determine the tuition rates that will cover them. If you plan to rely on fundraising as a nonprofit, have a firm grasp of the tuition-to-expenses balance to strategize effectively. It's crucial not to undersell yourself, ensuring your salary is part of your budget, not left out. --- ### Conclusion Make informed estimates and be transparent with your program’s potential growth and costs. Understand that your entrepreneurial role may not always entail direct compensation but reflects in your strategy. Ensure every task has a place in the budget and work backward to establish tuition early on. Thank you for listening today! Subscribe and explore more resources at startahybridschool.com. Feel free to reach out via email—I'd love to hear from you. Until next time!