PROFIT SHARING

How to Get Your Employees to
>> Stay for Years
>> Be Loyal
>> Work Hard for You

Read on, Playa πŸ‘‡πŸΌπŸ‘‡πŸΌ

// THREAD //

OK, SO WHAT IS PROFIT SHARING?

Taking 5-10% of your company's profits

And distributing it to your employees

Every quarter or once a year

You do this to incentivize employees to work harder & stay longer

Sinple enough, right?

Let's get into it πŸ”₯
THE PROS

- give team skin in the game
- instills ownership mentality
- motivates team to work hard
- builds loyalty & trust
- incentivizes team to stay at company longer
THE CONS

- costs $
- cuts profit margin short-term
- you spend time thinking & figuring plan out
- potential to cause drama within the workplace
Pros heavily outweigh cons

Think long-term

You sacrifice a slice of profit on the front-end

Get back loyalty, ownership mentality, & long employee tenures in the long-term

Easy decision
BEFORE YOU START

Have a GREAT, TRUSTED, HARDWORKING team in-place

Be profitable (duh)

Set quarterly/yearly goals for your company & each employee

Teach your team
- basic finance/biz principles
- how your company runs financially: Revenue, Expenses, Debt, Profit Margin
WHO QUALIFIES

Employees who stay 1+ year

Non-commission & full-time employees

NO part-time or commission-based employees

Valuable money-makers... don't add lazy or unimportant employees (while we're at it, you should fire them)
HOW TO DISTRIBUTE

Divide overall profit share pot by employee salary

Let's say your profit share pot is $1M & overall employee salary on profit share is $5M

- Employee making $100K gets $20k
- Employee making $350K gets $70K

Pay out quarterly or yearly as a bonus
CONCLUSION

To build an empire you need a long-term minded, skin-in-the-game team

Profit Sharing is the way to go

It'll change you & your employees' lives

Like & RT the first tweet if you got any value out of this πŸ”₯πŸš€

// END THREAD //
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More from TY FRANKEL

**Building Your Dream Team**

>> How to Hire Your First 5 Employees

Steal my Hiring Gameplan & Scale to the Moon πŸš€

πŸ‘‡πŸ‘‡

// THREAD //

OVERVIEW & STRUCTURE

Your first 5 hires:
- 2 Admin Assistants
- Head of Admin
- Operations Manager
- Sales Closer

Admin Assistants report to Head of Admin

Head of Admin & Closer report to Operations Manager

Operations Manager reports to you

O&S (CONT)

1 trusted person reporting to you = no headache

Interview 3-4 candidates & choose 1 for each position

HIRING FLOW
Application Received --> Hiring Tests --> Quick Phone Interview --> Video/In-Person Interview --> Hire

ADMIN ASSISTANTS

Hire off
https://t.co/q88s6kkXk7

Pay $5-7/hr if you're smart

$3-4/hr if you like headaches & micro-managing

Most likely 22-30 years old... fresh out of college & hungry

ADMIN ASSISTANTS 2

Traits you want
- speaks & writes English well
- follows directions to the T
- thinks critically
- great attention to detail... doesn't make simple mistakes
- types 50+ WPM

Read my thread on hiring a VA/Admin Assistant

πŸ‘‡πŸΌπŸ‘‡πŸΌ

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Recently, the @CNIL issued a decision regarding the GDPR compliance of an unknown French adtech company named "Vectaury". It may seem like small fry, but the decision has potential wide-ranging impacts for Google, the IAB framework, and today's adtech. It's thread time! πŸ‘‡

It's all in French, but if you're up for it you can read:
β€’ Their blog post (lacks the most interesting details):
https://t.co/PHkDcOT1hy
β€’ Their high-level legal decision: https://t.co/hwpiEvjodt
β€’ The full notification: https://t.co/QQB7rfynha

I've read it so you needn't!

Vectaury was collecting geolocation data in order to create profiles (eg. people who often go to this or that type of shop) so as to power ad targeting. They operate through embedded SDKs and ad bidding, making them invisible to users.

The @CNIL notes that profiling based off of geolocation presents particular risks since it reveals people's movements and habits. As risky, the processing requires consent β€” this will be the heart of their assessment.

Interesting point: they justify the decision in part because of how many people COULD be targeted in this way (rather than how many have β€” though they note that too). Because it's on a phone, and many have phones, it is considered large-scale processing no matter what.
Oh my Goodness!!!

I might have a panic attack due to excitement!!

Read this thread to the end...I just had an epiphany and my mind is blown. Actually, more than blown. More like OBLITERATED! This is the thing! This is the thing that will blow the entire thing out of the water!


Has this man been concealing his true identity?

Is this man a supposed 'dead' Seal Team Six soldier?

Witness protection to be kept safe until the right moment when all will be revealed?!

Who ELSE is alive that may have faked their death/gone into witness protection?


Were "golden tickets" inside the envelopes??


Are these "golden tickets" going to lead to their ultimate undoing?

Review crumbs on the board re: 'gold'.


#SEALTeam6 Trump re-tweeted this.