The EntreLeadership Podcast I Can’t Figure Out How Much to Spend on Payroll
21 snips
Apr 28, 2025 A business owner grapples with the right payroll percentage to maintain profitability while supporting her team. The conversation shifts to the distinct roles of controllers versus CFOs, emphasizing cash flow management and strategic oversight. Dave Ramsey's unconventional views on job descriptions challenge traditional hiring methods. The discussion also highlights how businesses can balance profit with philanthropic efforts, advocating for humility and responsible leadership in fostering generosity.
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No Fixed Payroll Percentage
- Measure payroll by return on investment, not a fixed percentage of revenue.
- Ensure each groomer generates more revenue than their total cost, including equipment and payroll.
Controller Before CFO
- Hire a strong controller to produce timely, accurate financial reports before hiring a CFO.
- CFOs provide strategic advice and solutions, while controllers execute financial operations.
KRAs Encourage Ownership
- Job descriptions encourage "not my job" attitudes, which stifle customer service.
- KRAs promote ownership and teamwork by focusing on shared outcomes rather than strict task lists.
