The EntreLeadership Podcast

Is My Team Taking Advantage of Me?

Apr 22, 2024

The podcast discusses compassion fatigue in a business owner, AI's impact on businesses, overcoming discouragement from debt, and Dave Ramsey's management pay. It also covers setting boundaries in business, adapting to technological changes, and navigating challenges in different industries.

01:00:32

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Quick takeaways

Implementing profit-sharing can align incentives and drive mutual success in business partnerships.

Establishing transparency through profit-sharing promotes trust, alignment, and collaboration between leaders and owners.

Deep dives

Compensating Leaders in a Small Business

In a portable building manufacturing company that produced 330 buildings in a year with $2.75 million in sales, the owner is considering how to compensate a leader who is taking on expanded responsibilities. The plan involves profit-sharing to incentivize the leader to run operations efficiently while holding expenses down and increasing profits. By sharing 10% of the net profits with the key leader, the company aligns the leader's incentives with scaling the business effectively.

Introduction

2min

Balancing Compassion and Accountability in Team Management

9min

Setting Boundaries to Protect Yourself

7min

Evolution of Technology: From Ice Industry to AI

4min

Embracing Technology and Market Disruptions for Business Success

6min

Navigating Business Challenges in Land Clearing Industry

14min

Setting Business Terms and Not Compromising

6min

Redefining Operational Responsibilities and Profit Sharing

9min

Today we’ll hear about:

A business owner struggling with compassion fatigue because her team is taking advantage of her
How one-third of business owners are concerned they’ll close in 2024 and are looking to AI for help
A business owner who is making $4 million a year but is trying to overcome discouragement from facing a mountain of debt and customers who won’t pay
How Dave Ramsey pays his upper management team members

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