Building a high performing business: compensation subscribe to our channel: UCVCfIOOpCzwUP5xtWS6MALA
Do you want to know how to attract the highest quality people to your business? One of the ways is through Incentive structures, which not only attract but also retain high quality people. In this video you will discover:
00:00 Introduction
00:20 What is an Incentive Structure
01:30 Where do Incentive Structures fit in compensation models
02:00 Promoting High performance ( specific area of business)
03:00 Sales commission attached to Sales
03:30 Profit Share is overall performance
04:00 Avoiding misalignment
07:00 Incentivize the right type of people
07:50 use a Fixed Term Agreement
08:30 Revisiting the agreement
09:15 Remove your Blinkers
10:30 Advice: Go Slow
11:30 Trust your Gut
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-- WHO WE ARE --
Adam and Bryan are co-founders of CleverProfits - a virtual accounting firm helping online entrepreneurs build better businesses with fractional CFO services. We help our clients learn how the numbers in their business work so they can maximize profit and grow their company. Yes, we do all your accounting and taxes too.
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-- DISCLAIMER --
CleverProfits and related parties do NOT provide tax, legal, or accounting advice. This content has been prepared for information purposes ONLY, and is not intended to provide and should not be relied on for tax, legal, or accounting advice. Viewing this video does NOT create an accountant-client relationship with CleverProfits. You should consult your own tax, legal, and accounting advisors for professional advice.