553. How to Handle Team Members Asking for Raises and How to Ask For a Raise

When it comes to team members asking for a raise, there's one approach that I've learned after a lot of trial and error that has worked wonders. Honesty and transparency. While it sounds simple on the surface, in today's episode, I'm going to explain what this really looks like. We want employees who want to make more money and bring more value to our business but we need to be smart and calculated when we go about doing this. I'll explain why profitability is so important, my first raise conversation, a service based coaching business allotment breakdown example, and more!

 

Time Stamps:

 

(0:48) Speaking The Same Raise Language

(2:10) Thinking Like A Business Owner

(3:30) 100k Salary Example

(7:30) Why Profitability Is So Important

(12:25) My First Raise Conversation

(13:52) Service Based Online Coaching Allotment Breakdown

(16:08) Data Driven Systems Inside IFCA

(17:45) Let Me Know If This Helped!

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