When you’re building your Team, you want to be looking for people who are great investments.
If someone on your Team isn’t a great investment, you ideally want THEM to come to that conclusion – they either need to learn something, change something (such as their position), or move on.
You want to think about your Team with the culture of a true meritocracy.
In order to have this cultural alignment, a Team Member needs to come to their own realization that they are either getting paid too much for what they are producing – OR – realize they aren’t getting paid enough for their production and can prove it to be the case.
If you look at the net profits of your company and the gross paychecks of your Team Members, it’s not implausible to be in the situation where you could be losing money by having a Team Member in your company – even if they are doing all kinds of neat things. On the other hand, someone could be worth 10x the investment you are making in them.
It’s all about production.
It’s all about you, as the Entrepreneur, making an investment. Having said this, money production is just one way to gauge the value of someone. People on your team can make you money, save you money, or reduce stress. However, in all cases, you want to be looking at your payroll like a portfolio. Just like a financial portfolio you need to ask yourself: What’s the return on your investments?
by Joe Polish
Founder of Genius Network
P.S. I've created a resource page as a central guide with access to valuable resources available to you right now. Check it out at www.GeniusNetwork.com/Vision-Insight. Bookmark this page. This is where I will post every new update.
P.P.S. Whenever you're ready... here are 3 more ways I can help you make YOUR business and life more E.L.F. (Easy, Lucrative, and Fun!):
- Discover the 10x Multipliers to grow your business exponentially… Amplify your opportunities and reveal the untapped potential in your business: www.10XTalk.com/Vision
- Trigger these 8 Profit Activators in your business right now: www.ILoveMarketing.com/Vision
- I'm often asked what books I recommend. So, I've put together a collection of books and products in 9 specific categories. These are resources we've shared in Genius Network to help improve life and business... To check them out visit www.JoePolish.com/Books-Vision
P.P.P.S. If You Or Someone You Know Is Struggling With Addiction, visit www.GeniusRecovery.org/Vision-Letter
Also, check these out 🙂
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