In today's episode, we dive into the intricacies of performance pay and strategic business growth with our insightful guest, Mike, from Washington State. Renowned for founding Augusta Lawn Care, a franchise successfully expanded across the US, Canada, and Australia, Mike brings a wealth of experience in incentivizing performance and leveraging social media for business success.Join host Matt Jones as he explores the concept of 'Pay for Performance' (PFP), where incentivizing employees by offering them a share of labor revenue leads to an efficient and motivated workforce. Mike candidly shares his strategies for measuring labor revenue, aligning incentives, and overcoming the challenges posed by highly customized service industries. Moreover, we delve into the evolving landscape of franchising and licensing models, where financial transparency and incentivizing managers become paramount, especially for absentee owners.Discover how standardizing services, tracking key performance indicators for non-sales roles, and understanding the dynamics of franchise and licensing models can revolutionize your business practices. This episode also highlights the importance of ethical sales practices, with Mike drawing from his substantial experience in managing franchisees, ensuring their economic success, and avoiding the pitfalls of aggressive sales tactics.Stay tuned for part two, where Matt and Mike will further explore the power of social media in business growth. Don't miss out on this opportunity to gain valuable insights and access free courses through Mike's website as mentioned in the show notes. Let's get started!Watch the video version of this podcast at https://youtu.be/_FJT6qlLiLg00:00 Performance Pay and Social Media Strategies04:07 Franchise Profitability Challenges06:24 Franchising Over Licensing: Legal Shift09:35 Performance Pay Meritocracy Explained14:24 "Lessons in Unethical Selling"16:43 "Business Obligations in Solar Projects"22:41 Profit Sharing Structure for Managers23:48 Aligning Profit Sharing with Cash Flow27:22 Financial Planning and Incentivization Strategy32:11 Balancing Job Pricing and Team Trust34:18 Balancing Incentives and Quality37:28 Path to Franchise Ownership42:09 Tracking Labor Revenue Allocation Don't let your business fall behind—explore the power of AI with Tradie Hub. Visit tradiehub.net to see the innovative AI tools crafted just for tradies. Discover how you can stay ahead and transform your business with cutting-edge technology! 🧰 Want Access To Tools & Training from Industry Leaders? Join Tradie Academy, our free community packed with templates, checklists, and resources shared by podcast guests, coaches, and successful tradies.👉 Join free and grab your next growth tool. 📲 Stay Connected: Facebook: The Site Shed Instagram: @thesiteshed LinkedIn: The Site Shed Website: thesiteshed.com Join a global community of 6000+ trade professionals https://www.facebook.com/groups/TheSiteShed ⭐ Enjoyed This Episode? Leave us a review here! Google Facebook Spotify/Apple

Ver todos los episodios