How to Lead People and Manage Your Business’s Money
The EntreLeadership Podcast
You Don't Want to Pay Her a Owner
If you can fill a position for $75,000 a year and she's taken a hundred and 75 out, the hundred doesn't count. You're going to give her a hundred percent of the profits after you get paid your basic same salary. Give her the 75 up front and tell her she gets every dime of profit above what you currently are being paid right now until we get to the other number. But you're not going to put payments on it. Because she can, because you don't know if you're going to make a profit. And so here's the formula. Let's say it's making $50,000 ayear for an example and you settle on 200,
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