We have all been there at some point in our lives, where we really want that expensive item (insert whatever that may have been here, for me it could have been a car all the way down to a really nice pair of shoes) but our financial situation at the time was limiting us (or least it should have been, if not, that is another story).  This example, my friends, is called having a champagne taste on a beer budget.

For those that have or are currently working for a startup, understand how that same concept plays out in the work place.  Startups are scrappy, they typically (although there are exceptions to every rule) start from humble beginnings and do not have a lot of money in the bank.  If they are lucky, they raised a decent angel round to get them going and got a good series A, but that money does not last forever, especially if you are pre-revenue or just starting to generate some revenue but are a far way from being profitable.  So, as a company, you cannot affortd to pay every employeee outragous wages, otherwise what money you did raise would be gone quicker than you can say series B anyone?  Faced with that dilema, you want to be able to provide your employees that champagne taste on a beer budget.  You want to be able to maximize the benefits that you offer them while minimizing the cut into the bottom line.  This can be accomplished in several ways, from paying a substantial portion of their healthcare coverage (or in some cases covering it all) to providing food and drinks in the office (does not have to be catered lunches per se, but perhaps coffee and snacks, they go a long way) to games for your employees to blow off a little steam.  You could even do a quarterly event, does not have to be extravagant, but simply getting everyone out of the office for some fun.

At the end of the day, everyone has their reasons for going to work for a startup, but whatever that is, they all have certain needs.  By providing that champagne taste on a beer budget, you are going a far way in making sure your employees’ thirsts are quenched.