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1180. Designing Incentive Plans That Motivate Your Team Without Breaking the Bank

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Sinopsis

One of the hardest parts of scaling a 7 or 8-figure business, is being able to balance rewarding your team with protecting your company's profitability. In this episode, Kelly discusses how to design compensation and incentive plans that motivate and inspire your team to perform at their best, create simultaneous promotion of interests (good for the team, the client, and the company), and keep your business financially healthy and sustainable If you've ever wrestled with questions like: "how do I pay competitively without overextending the business?" or "should I give raises or one-time bonuses?" this episode is a must-listen. You'll learn: The #1 mistake business owners make when designing incentive plans, and what every compensation plan should start with instead How to structure incentives so your team can earn 6 or multiple 6 figures  while the business remains profitable The 4X Method: how to ensure every hire brings in 4x what they cost Timestamps:  01:16–03:10 – Why every compensation plan sho