We Are Selling with Lee Woodward 99 - The Costs & Pay Structures of Running an Effective Business Unit
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The transition from solo agent to team leader requires understanding the financial realities of running a solid business unit, not just focusing on GCI goals. Becoming a team leader means you're now a business owner with expenses, people management, and commercial realities to consider.
• Understanding the true cost per hour of each team member (total annual cost divided by 1,649 working hours)
• Allocating the right tasks to the right people based on their hourly cost
• Looking at business components rather than just adding more people
• Strategic outsourcing of specific functions like telemarketing, open homes, and administration
• Calculating true break-even points before implementing bonus structures
• Setting bonus structures only on profits above break-even, not on all revenue
• Finding team members who love their specific roles rather than those looking to advance
• Recognising that new team members shouldn't be paid the same as those who helped build the business
• Setting commercially reasonable remuneration that preserves business sustainability
• Understanding when to stay solo rather than build a team based on market capacity and personal preference
We can't shrink ourselves to greatness, but we need to build our teams with the right people in the right roles at commercially sustainable remuneration levels. When you genuinely know what you want, you can reverse engineer the structure that will help you achieve it.
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