My First Million How Roger Federer Became A Billionaire, Betting On Yourself, And The Figma Seed-Stage Pitch
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Sep 27, 2022 Discover how Roger Federer transformed into a billionaire by prioritizing equity over cash in his deals. The hosts explore the art of betting on yourself for financial success, alongside innovative strategies for managing employee stock options in tech. Hear anecdotes about navigating financial markets and the gritty mindset that drives entrepreneurs. Athletes as brand builders take center stage, revealing how figures like Floyd Mayweather leverage their fame for wealth. Expect laughs and insightful ideas on personal growth, investments, and the entrepreneurial spirit!
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Incentivizing Stock Pickers
- Alfred Winslow Jones, a journalist, revolutionized wealth management with his hedged fund.
- He incentivized stock pickers with 20% of future profits, fostering a cutthroat, high-performance culture.
The Hustle's Incentive Problem
- Sam Parr experimented with sales incentives at The Hustle, offering percentages of closed deals.
- However, this led to salespeople prioritizing low-quality deals, highlighting the need for balanced incentives.
Effective Incentive Strategies
- Offer bonuses for exceeding 105% of target performance, rather than just meeting 90%.
- Implement "clawbacks," giving half the bonus upfront and reclaiming it if goals aren't met, leveraging loss aversion.
