The Ultimate Entrepreneur 276 - An Encounter with Tom Phillips (Part 2)
Mar 30, 2021
34:24
This episode is part two of an interview with Tom Phillips, the founder of Phillips Publishing International. In this episode, Tom talks about how he created a rich company culture and coveted workplace. Tom also shares how he recognized his colleagues and created a fun bonding opportunity between team members.
Tom talks about the role of ceremony in business and why the health of the company is his main focus when it comes to bonus structuring, not entitlement. He also explains why it’s important to develop symbols within your company that your team values and understands.
You’ll learn why he pays his team more than the average and how his compensation plan works off of a percentage of profits, not a person’s salary. Tune in to hear Tom share a tool he uses called the “Green Sheet”, how he structures his annual report, and who he shares his financials with – and learn why intellectual capital is, and always will be, the most important thing.
00:00 – 08:30 – Creating a rich company culture and thriving work environment; how to recognize colleagues and build strong relationships within the team
08:30 – 12:00 – Symbols in the workplace, where recognition and ceremonial components fit in the business, and what makes his compensation plan unique.
12:00 – 16:00 –The bonus structure, stock option plan, “Green Sheet” tool, annual report/recruiting tool, and who he shares the company financials with.
16:00 – 23:00 – Ideas and action, the commodity of wealth building, the benefit of entrepreneurship, intellectual capital, and sharing values, business techniques, and abilities.
23:00 – 27:00 – Hanging around winners, the truth about acquisitions and capital, his definition of security, and why incentives are necessary to get the best from entrepreneurs.
27:00 – 34:30 – Budget plans, thinking creatively, non-conventionally, and non-linearly, changing the rules of the game, and why you must out-think and out-smart the competition.
Tom talks about the role of ceremony in business and why the health of the company is his main focus when it comes to bonus structuring, not entitlement. He also explains why it’s important to develop symbols within your company that your team values and understands.
You’ll learn why he pays his team more than the average and how his compensation plan works off of a percentage of profits, not a person’s salary. Tune in to hear Tom share a tool he uses called the “Green Sheet”, how he structures his annual report, and who he shares his financials with – and learn why intellectual capital is, and always will be, the most important thing.
00:00 – 08:30 – Creating a rich company culture and thriving work environment; how to recognize colleagues and build strong relationships within the team
08:30 – 12:00 – Symbols in the workplace, where recognition and ceremonial components fit in the business, and what makes his compensation plan unique.
12:00 – 16:00 –The bonus structure, stock option plan, “Green Sheet” tool, annual report/recruiting tool, and who he shares the company financials with.
16:00 – 23:00 – Ideas and action, the commodity of wealth building, the benefit of entrepreneurship, intellectual capital, and sharing values, business techniques, and abilities.
23:00 – 27:00 – Hanging around winners, the truth about acquisitions and capital, his definition of security, and why incentives are necessary to get the best from entrepreneurs.
27:00 – 34:30 – Budget plans, thinking creatively, non-conventionally, and non-linearly, changing the rules of the game, and why you must out-think and out-smart the competition.