Want to optimize your labor costs effectively? Check out this episode where Khalil & Martin discuss the benefits of using a salary cap to drive profitability and sustainable growth. Don't miss out!
Time Stamps
- 00:18 - Episode Intro
- 02:36 - Understanding the Salary Cap Concept
- 04:01 - Implementing the Salary Cap in Business Planning
- 06:05 - Strategies for Efficient Hiring and Growth
- 10:24 - Exploring Pay for Performance and Other Models
- 11:36 - Episode Outro
Quotable Moments from the Show
- "Employees are your ticket to freedom. If you don't have employees, you're always gonna be working a job. But they also can be the most frustrating thing you do. So hiring well is a skill. It's not something you can do with a hundred percent certainty, but you can certainly improve the odds." - Martin Holland
- "If you wanna scale your business, perhaps you need to bring more people in. And you know that you need to do that, but you can't do that until you're paying for it first. Your profitability has to go up." - Martin Holland
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Resources
- CFC 066 - Making Small Business Magic with Mike Michalowicz
- CFC 112 - Mowing, Marketing, & Managing Franchises with Mike Andes
- CFC 075 - The Profit First Master with Rob Williams
- Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential by Greg Crabtree
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