Podcast Episode 13: How do I pay my team {so I can actually make a profit}? - Studio Grow

Podcast Episode 13: How do I pay my team {so I can actually make a profit}?

There’s a really scary mentality that most entrepreneurs have when it comes to hiring a team. The money. Business owners believe that if they are compensating a team, that means less money for them. This could not be further from the truth. Here’s how I look at it – What is my currently hourly rate […]

August 9, 2020

READY AIM EMPIRE : Podcast Episode 13: How do I pay my team {so I can actually make a profit}?
UP NEXT : Podcast Episode 14: How do I finance my startup, launch, renovation, move, or other way to better my business?

There’s a really scary mentality that most entrepreneurs have when it comes to hiring a team.

The money.

Business owners believe that if they are compensating a team, that means less money for them.

This could not be further from the truth.

Here’s how I look at it –

What is my currently hourly rate or what do I presume it to be and can I hire someone at less than that to do this job?

And I actually have 7 major compensation plans that will make it a lot easier for you to swallow bringing on some part-time help:

  1. Straight Salary/Project Based
  2. Hourly
  3. Flat Commision Per Sale
  4. Commission on Net Revenue
  5. Commission on Overall Revenue
  6. Balloon Bonus at Certain Marker
  7. Tiered Commission Based on Gross Revenue

If you want to learn how to implement any of these for your business, listen in to Episode 013, where I share with you the pros and cons of each.

In this episode, you’ll learn:

Join my Ready Aim Empire tribe to find incredible insights from other entrepreneurs and share your own takeaways!

With Grit + Gratitude,

Lisé

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