1 00:00:00,040 --> 00:00:02,480 Welcome to the Bringing the Human Back to Human Resources 2 00:00:02,480 --> 00:00:04,800 podcast. I'm Tracy Chernoff, and I've 3 00:00:04,800 --> 00:00:07,240 spent my entire professional career in HR. 4 00:00:07,720 --> 00:00:10,840 Each week, we'll explore the delicate balance between people 5 00:00:10,840 --> 00:00:13,840 and business with the aim to reconnect the two and create 6 00:00:13,840 --> 00:00:16,760 meaningful outcomes. Listen in as I share my own 7 00:00:16,760 --> 00:00:20,560 experiences, challenge the status quo, and chat with guests 8 00:00:20,560 --> 00:00:23,600 from various industries about our mission to bring the human 9 00:00:23,600 --> 00:00:26,320 back to human resources. Hi everyone, welcome back to the 10 00:00:26,320 --> 00:00:28,240 Bringing the Human Back to Human Resources podcast. 11 00:00:28,240 --> 00:00:30,680 Thank you so much for being here for another week. 12 00:00:30,920 --> 00:00:32,800 Don't forget to rate, review, and subscribe wherever you're 13 00:00:32,800 --> 00:00:35,400 catching this episode. And this is actually, I think 14 00:00:35,400 --> 00:00:38,160 the first episode of its kind. I don't think I've ever talked 15 00:00:38,160 --> 00:00:42,280 about profit sharing with a guest or really at all ever on 16 00:00:42,400 --> 00:00:45,720 my show in what is now basically 5 years. 17 00:00:46,080 --> 00:00:48,760 So this is a long overdue conversation and I'm really 18 00:00:48,760 --> 00:00:53,520 excited to have Rob Gallaher on the podcast because he is this 19 00:00:53,520 --> 00:00:56,840 is this is his bread and butter. This is what he's really going 20 00:00:56,840 --> 00:01:01,400 to help us understand better and hopefully implement in our own 21 00:01:01,440 --> 00:01:04,519 businesses and organizations. So let me introduce you to Rob. 22 00:01:04,800 --> 00:01:08,640 He is the CEO of Gallaher Co. In 2010, he started his own 23 00:01:08,640 --> 00:01:11,320 construction company and has since grown to lead five 24 00:01:11,320 --> 00:01:13,200 companies across multiple industries. 25 00:01:13,560 --> 00:01:17,520 For over a decade he's been he has been building and leading 26 00:01:17,520 --> 00:01:19,880 businesses. One of the most powerful lessons 27 00:01:19,880 --> 00:01:22,880 he's learned is the incredible impact of aligning employee 28 00:01:22,880 --> 00:01:26,560 success with company success, which fueled his passion for 29 00:01:26,560 --> 00:01:29,200 profit sharing. Through years of implementing 30 00:01:29,200 --> 00:01:32,400 and refining these strategies and his own companies, Rob has 31 00:01:32,400 --> 00:01:35,000 seen first hand how profit sharing can transform a 32 00:01:35,000 --> 00:01:37,760 workplace in fostering collaboration, boosting 33 00:01:37,760 --> 00:01:40,840 motivation, and ultimately driving significant growth. 34 00:01:41,120 --> 00:01:44,400 He recently distilled this experience and insight into his 35 00:01:44,400 --> 00:01:47,040 book Profit Sharing the Power of Shared Success. 36 00:01:47,320 --> 00:01:49,960 And in July, he launched an online course teaching others 37 00:01:49,960 --> 00:01:52,440 how to set up profit sharing in their own organizations. 38 00:01:52,680 --> 00:01:55,600 So Rob, thank you so much for bringing all of your wisdom and 39 00:01:55,600 --> 00:01:56,960 insight to us. This no. 40 00:01:57,240 --> 00:01:58,840 Thank you Tracy for having me on. 41 00:01:58,840 --> 00:02:01,760 I'm passionate about the subject and I appreciate the opportunity 42 00:02:01,760 --> 00:02:03,640 to talk about it. Of course. 43 00:02:03,640 --> 00:02:04,760 Well, we're really glad to have you on. 44 00:02:04,760 --> 00:02:07,920 And like I said, this has not ever been a subject talked about 45 00:02:08,199 --> 00:02:11,520 on the podcast, which means that there is a real opportunity for 46 00:02:11,520 --> 00:02:15,200 everyone listening to learn something new or maybe even be 47 00:02:15,200 --> 00:02:18,480 challenged a little bit on their own beliefs around profit 48 00:02:18,480 --> 00:02:20,640 sharing, whether they've experienced or kind of 49 00:02:20,640 --> 00:02:24,520 interacted with this type of business strategy or not before. 50 00:02:24,520 --> 00:02:27,840 So maybe what we have to do, considering this is a new topic 51 00:02:27,840 --> 00:02:31,560 for the show, is first understand and talk about what 52 00:02:31,560 --> 00:02:35,280 profit sharing really is. And so I'll pass to you since 53 00:02:35,280 --> 00:02:37,320 you are, you know, this is really your domain. 54 00:02:38,040 --> 00:02:40,080 Yeah, well, the best understanding of profit sharing 55 00:02:40,080 --> 00:02:42,560 starts with the problem you're trying to solve. 56 00:02:43,120 --> 00:02:47,760 And my my particular story was I was three years self-employed. 57 00:02:47,960 --> 00:02:52,160 I had about 30 team members, two companies. 58 00:02:52,880 --> 00:02:56,760 And my problem was I was struggling with the with this 59 00:02:56,760 --> 00:03:00,680 idea that my employees didn't think care or work like I did. 60 00:03:01,240 --> 00:03:04,720 And so I started this journey of self education. 61 00:03:04,720 --> 00:03:06,960 I was talking to other business owners about what they were 62 00:03:06,960 --> 00:03:11,040 doing, about this problem. I started reading books and I 63 00:03:11,040 --> 00:03:13,040 really want to solve it. You know, I was, I was 64 00:03:13,040 --> 00:03:15,840 micromanaging. I was horrible at delegating 65 00:03:16,000 --> 00:03:19,160 because I didn't trust anyone because they didn't think like I 66 00:03:19,160 --> 00:03:22,040 did. And I double checked all their 67 00:03:22,040 --> 00:03:24,320 work because they didn't care like I did. 68 00:03:24,360 --> 00:03:28,440 And then they didn't do it fast enough or good enough because it 69 00:03:28,600 --> 00:03:32,240 didn't work like I did. And these are the, this was the 70 00:03:32,240 --> 00:03:35,520 major complaint that I had. It's also the major complaint 71 00:03:35,520 --> 00:03:40,360 that I found from every business owner that I was reaching out to 72 00:03:40,360 --> 00:03:43,440 and speaking with. And so in my journey to solve 73 00:03:43,440 --> 00:03:47,640 this problem, this idea of profit sharing came across my 74 00:03:47,640 --> 00:03:51,560 desk and it was a, it was a, it was a page and a half of the 75 00:03:51,560 --> 00:03:54,880 book that I was reading where this author was talking about 76 00:03:54,880 --> 00:03:59,800 it, that he did it in certain ways across a couple of his 77 00:03:59,960 --> 00:04:02,760 departments in his company. And but there was not a lot of 78 00:04:02,760 --> 00:04:06,480 information. So I really dug into this idea 79 00:04:06,480 --> 00:04:10,280 what profit sharing was like. What it is is, you know, it's 80 00:04:10,280 --> 00:04:13,840 pretty simple. It's, it's basically sharing the 81 00:04:13,840 --> 00:04:17,600 profit of an organization to the people that are responsible for 82 00:04:17,600 --> 00:04:22,360 making that profit. But the how to, to do it is the 83 00:04:22,360 --> 00:04:27,040 challenging part. And that's the, that's the, the 84 00:04:27,040 --> 00:04:29,640 problem that I couldn't find the solution to. 85 00:04:29,640 --> 00:04:33,280 So I could not find a how to guide, I couldn't find 86 00:04:33,280 --> 00:04:37,200 spreadsheets, I couldn't find metrics on how to do it or to 87 00:04:37,200 --> 00:04:42,200 base it off of gross profit or net profit or revenue, what 88 00:04:42,200 --> 00:04:46,280 percentage to give away, who gets it in your organization? 89 00:04:46,280 --> 00:04:49,040 You know, all these questions start to come up when you sit 90 00:04:49,040 --> 00:04:52,400 down with a blank piece of paper and your pen and you start to 91 00:04:52,400 --> 00:04:54,600 write out your profit sharing program. 92 00:04:54,920 --> 00:04:57,240 You would get stuck really, really fast. 93 00:04:57,840 --> 00:05:03,400 So in my particular instance, I, you know, discovered this idea 94 00:05:03,720 --> 00:05:06,440 and I read everything I could about it, which wasn't a lot of 95 00:05:06,440 --> 00:05:09,200 help because there wasn't there was no how to about it was it 96 00:05:09,200 --> 00:05:12,040 was all theory about profit sharing. 97 00:05:12,560 --> 00:05:16,160 I brought two of my leaders in and we I sat them down one day 98 00:05:16,160 --> 00:05:18,960 and they said I want to do this idea of profit sharing. 99 00:05:18,960 --> 00:05:21,960 I'm going to try this idea out. I think that would really bridge 100 00:05:21,960 --> 00:05:28,560 the gap between ownership and the team in aligning our goals 101 00:05:28,560 --> 00:05:32,600 to accomplish what a business is supposed to do every month is 102 00:05:33,240 --> 00:05:35,960 profit. And then when you have profit, 103 00:05:35,960 --> 00:05:38,400 you can invest in your team. You can invest in equipment, you 104 00:05:38,400 --> 00:05:41,200 can serve more customers. Nothing good happens without 105 00:05:41,200 --> 00:05:43,960 profit first, right? You have to have profit, Yeah. 106 00:05:44,440 --> 00:05:47,440 So if there's no money in the bank, you can't move any needles 107 00:05:47,440 --> 00:05:51,160 on any spectrum, human or corporate or financial or 108 00:05:51,160 --> 00:05:54,960 anything. So we sat down that day and we 109 00:05:54,960 --> 00:05:57,200 started going through all these questions and we had all our 110 00:05:57,200 --> 00:06:00,240 PNL's printed out. We had our balance sheet there. 111 00:06:00,240 --> 00:06:03,320 We had all these, these metrics, you know, your, your traditional 112 00:06:03,320 --> 00:06:08,600 metrics of the business. And we came up with by basically 113 00:06:08,600 --> 00:06:11,960 throwing in some darts and a black room at a dart board. 114 00:06:11,960 --> 00:06:16,120 We didn't know where it was our first profit sharing program. 115 00:06:16,840 --> 00:06:20,760 And then that next quarter we cut our first profit sharing 116 00:06:20,760 --> 00:06:23,920 checks and it was a total disaster. 117 00:06:24,680 --> 00:06:29,560 The I spent thousands of dollars and I as the owner, we didn't 118 00:06:29,560 --> 00:06:34,640 see, feel or got anything different as far as an ROI on 119 00:06:34,640 --> 00:06:38,880 this program, which we, you know, was a, an investment into 120 00:06:38,880 --> 00:06:40,720 our future and investment into our team. 121 00:06:41,480 --> 00:06:44,200 And so that started that we went back to the drawing board. 122 00:06:44,800 --> 00:06:47,880 We spoke to the team members that got the profit sharing. 123 00:06:47,880 --> 00:06:51,360 You know, we got more people involved on figuring out what it 124 00:06:51,360 --> 00:06:54,600 was supposed to do, what the, what the owner wanted myself and 125 00:06:54,600 --> 00:06:58,600 what they were looking for and how we were going to tie those 126 00:06:58,600 --> 00:07:03,640 two metrics together to create this one body of people that 127 00:07:03,640 --> 00:07:06,680 were thinking, caring and working the same. 128 00:07:07,680 --> 00:07:10,880 And that's the journey that I went on. 129 00:07:11,000 --> 00:07:15,600 And that's where I'm at today. I've, I've, I perfected this 130 00:07:15,600 --> 00:07:18,280 system. I've put it into play and I've 131 00:07:18,280 --> 00:07:22,040 seen the results. It's proven and the growth in 132 00:07:22,040 --> 00:07:24,240 the numbers speak for themselves. 133 00:07:24,280 --> 00:07:28,440 My retention speaks for itself and I want other business owners 134 00:07:28,440 --> 00:07:31,480 to know this. I The value that is provided to 135 00:07:31,480 --> 00:07:34,600 my life is immense. The value it's provided to my 136 00:07:34,600 --> 00:07:40,280 team members lives is immense, and I haven't seen anything more 137 00:07:40,280 --> 00:07:44,840 powerful in business than a unified team that goes out every 138 00:07:44,840 --> 00:07:50,080 day and wins. I love that last line that you 139 00:07:50,080 --> 00:07:53,120 just shared. And I totally agree. 140 00:07:53,120 --> 00:07:56,240 There's something really powerful about about that 141 00:07:56,240 --> 00:07:59,000 feeling. And we've all, hopefully we all 142 00:07:59,000 --> 00:08:01,720 have been a part of a team where we're like, oh, yeah, we're 143 00:08:01,720 --> 00:08:05,560 doing this together. And I have in the past made the 144 00:08:05,560 --> 00:08:07,240 mistake of leaving a team like that. 145 00:08:07,640 --> 00:08:10,560 And then you realize not every team is like that. 146 00:08:10,560 --> 00:08:13,840 And you're like, what the heck Did I just, you know. 147 00:08:14,960 --> 00:08:18,040 But at the same time, I think there is something motivational 148 00:08:18,040 --> 00:08:20,920 about that for all of us that we can create that in our own 149 00:08:20,920 --> 00:08:23,240 organizations. And you know, when you and I had 150 00:08:23,240 --> 00:08:25,960 first, first of all, thank you for going over what profit 151 00:08:25,960 --> 00:08:28,560 sharing is in essence. And when you and I had first 152 00:08:28,560 --> 00:08:34,039 spoken a week or so ago before recording, it made me think like 153 00:08:34,039 --> 00:08:37,080 what other organizations that are like household names, so to 154 00:08:37,080 --> 00:08:41,880 speak, engage in this profit sharing type of practice. 155 00:08:42,280 --> 00:08:45,400 And I learned a lot. I had no idea that companies 156 00:08:45,400 --> 00:08:48,320 like Procter and Gamble, Southwest Airlines and other 157 00:08:48,760 --> 00:08:51,720 handful of other companies engage in profit sharing. 158 00:08:52,000 --> 00:08:57,240 And again, household names here and they do things totally 159 00:08:57,240 --> 00:09:01,000 differently. Procter and Gamble, they look 160 00:09:01,000 --> 00:09:03,760 at, you know, the total annual profits and then they divide 161 00:09:03,760 --> 00:09:06,880 them based on role and tenure. And then Southwest Airlines, 162 00:09:06,880 --> 00:09:09,080 this is based on an article at least from last year. 163 00:09:09,080 --> 00:09:12,760 So if hopefully it's still accurate, but forgive me if it's 164 00:09:12,760 --> 00:09:15,360 not. Southwest Airlines, they make 165 00:09:15,360 --> 00:09:19,040 the percentage that is paid out as part of the profit sharing 166 00:09:19,040 --> 00:09:22,560 plan a part of the annualized salary. 167 00:09:22,800 --> 00:09:27,000 So it's kind of, you know, to me that is almost similar to a 168 00:09:27,000 --> 00:09:29,640 Commission in that it's baked into your total compensation. 169 00:09:30,680 --> 00:09:34,280 But it does the same thing in the sense that you are motivated 170 00:09:34,280 --> 00:09:38,760 by the over by the company's overall achievement and that you 171 00:09:38,760 --> 00:09:41,600 are effectively like a joint owner. 172 00:09:41,600 --> 00:09:46,320 You, you see your role at those companies and your own companies 173 00:09:46,840 --> 00:09:50,960 as being within the same level of ownership, even if the 174 00:09:50,960 --> 00:09:54,640 percentages are different, as someone else, as the owner, as 175 00:09:54,640 --> 00:09:57,120 the CEO. And I think that there's 176 00:09:57,120 --> 00:09:58,760 something really powerful about that. 177 00:09:59,080 --> 00:10:03,040 And I would imagine, because this was a question that I had 178 00:10:03,720 --> 00:10:05,000 that I had to do some research on. 179 00:10:05,000 --> 00:10:07,560 I would imagine that there are some listeners who maybe work 180 00:10:07,960 --> 00:10:11,360 for companies who are Esop's like employee stock ownership 181 00:10:11,360 --> 00:10:16,440 plan based companies or or companies that do provide stock 182 00:10:16,440 --> 00:10:19,840 incentives to their employees that maybe there's a question 183 00:10:19,840 --> 00:10:22,080 like what's the difference? Like you know, the stock 184 00:10:22,080 --> 00:10:24,880 ownership plan is similar to profit sharing. 185 00:10:25,040 --> 00:10:29,080 And actually, while that might be true, I did some research and 186 00:10:29,080 --> 00:10:32,040 I found that really the most significant differences are that 187 00:10:32,400 --> 00:10:38,680 the profit sharing setup and components really rely on the 188 00:10:38,680 --> 00:10:40,280 profits. And so you're getting these 189 00:10:40,280 --> 00:10:44,400 realized profits in the moment because it's whether it's after 190 00:10:44,400 --> 00:10:46,560 the annual profits or it's quarterly. 191 00:10:46,560 --> 00:10:48,600 You know, to your point, every company kind of does things 192 00:10:48,600 --> 00:10:51,560 differently and there wasn't a playbook when you were trying to 193 00:10:52,360 --> 00:10:55,240 create this for yourself and your own business. 194 00:10:55,840 --> 00:10:59,920 But that's a pretty significant difference compared to the an 195 00:10:59,920 --> 00:11:03,440 employee stock ownership plan because that is based on the 196 00:11:03,440 --> 00:11:06,720 valuation of the company and not necessarily the profit. 197 00:11:06,720 --> 00:11:08,720 Of course, the greater the profits, the greater the 198 00:11:08,720 --> 00:11:12,640 valuation, but it is that to me, that's actually a pretty 199 00:11:12,640 --> 00:11:19,080 significant difference while both work to motivate and create 200 00:11:19,080 --> 00:11:23,120 ownership amongst the team. And so I'm curious, you know, in 201 00:11:23,120 --> 00:11:28,040 your own experience with profit sharing, that intrinsic value in 202 00:11:28,040 --> 00:11:31,480 terms of the motivation, the ownership, how has that 203 00:11:31,480 --> 00:11:36,320 transformed collaboration and the way that your team works 204 00:11:36,320 --> 00:11:38,720 together? Do you see fewer friction 205 00:11:38,720 --> 00:11:40,360 points? Do you see more of the 206 00:11:40,360 --> 00:11:42,280 camaraderie and the collaboration? 207 00:11:43,320 --> 00:11:46,600 So I see a lot of things and then over the years I've seen a 208 00:11:46,600 --> 00:11:48,280 lot of things that I didn't expect. 209 00:11:48,680 --> 00:11:52,360 And you know, I can, we could talk about probably 10 different 210 00:11:52,360 --> 00:11:54,400 things. But one thing that I think, you 211 00:11:54,400 --> 00:11:58,000 know, in a, in a, as ahr human resource background that you 212 00:11:58,000 --> 00:12:01,400 have and, and you probably have a lot of human resource managers 213 00:12:01,400 --> 00:12:05,560 listening. But so in that point, like you 214 00:12:05,560 --> 00:12:08,600 have a team, let's say you have 6 people on and let's say you're 215 00:12:08,600 --> 00:12:11,760 a plumbing company, right? So you have the owner, you got a 216 00:12:11,760 --> 00:12:14,520 dispatcher, you have some estimators, project manager, 217 00:12:14,520 --> 00:12:17,920 maybe an office manager. At GM, we have this group of 218 00:12:17,920 --> 00:12:21,480 leaders that are all in charge of, you know, getting 219 00:12:21,480 --> 00:12:23,920 information from the customer, estimating the job and 220 00:12:24,040 --> 00:12:26,920 dispatching the plumbers and then the invoicing, right? 221 00:12:26,920 --> 00:12:29,680 So the whole operation of what a company would do. 222 00:12:29,680 --> 00:12:33,880 And you can use this example for a flower shop or bakery or, or 223 00:12:33,880 --> 00:12:37,160 any kind of company. But what I've seen is that this 224 00:12:37,160 --> 00:12:40,320 group of six people, you know, as the company grows, you have a 225 00:12:40,320 --> 00:12:44,000 profit sharing program in there and you'll see growth happen 226 00:12:44,000 --> 00:12:45,920 because everybody starts to become united. 227 00:12:46,480 --> 00:12:49,880 They start to understand what the goal is everyday and how to 228 00:12:49,880 --> 00:12:53,200 sustain that goal, right? People get treated better 229 00:12:53,400 --> 00:12:57,320 because now it's about, OK, so we made a mistake today. 230 00:12:57,880 --> 00:13:01,240 We can learn from that mistake. Let's make sure everybody knows 231 00:13:01,240 --> 00:13:04,440 about this, learns the same lesson so it doesn't repeat 232 00:13:04,440 --> 00:13:10,720 itself in the future. I've seen a team root out the 233 00:13:10,720 --> 00:13:14,560 donkeys from the from the stallion stable, right. 234 00:13:14,560 --> 00:13:16,440 Stallions don't want to run with donkeys. 235 00:13:16,920 --> 00:13:18,880 You know, eagles don't want to fly with Turkey. 236 00:13:18,880 --> 00:13:21,560 So when you have a bad apple somewhere in there and the whole 237 00:13:21,560 --> 00:13:24,920 team's on profit sharing in this one person's dragging the team 238 00:13:24,920 --> 00:13:28,960 down and hurting profit, which hurts their profit sharing 239 00:13:28,960 --> 00:13:31,840 check. They will help the owner or the 240 00:13:31,840 --> 00:13:35,520 human resource manager get that person out of the building. 241 00:13:36,360 --> 00:13:39,440 And you know, these are things that I didn't think about going 242 00:13:39,440 --> 00:13:42,640 on. I've seen people think outside 243 00:13:42,640 --> 00:13:46,080 the box and bring ideas that have been fantastic, right? 244 00:13:46,080 --> 00:13:48,440 They're not just clocking and clocking out anymore. 245 00:13:48,440 --> 00:13:50,760 They're actually thinking about how can I make a difference? 246 00:13:51,160 --> 00:13:54,600 How can we make more profit? You know, so someone gets a 247 00:13:54,600 --> 00:13:58,760 profit sharing check for $1000. The first thought is how do we 248 00:13:58,760 --> 00:14:01,480 do this next month and the month after that? 249 00:14:01,640 --> 00:14:05,000 How do we make them bigger and more consistent? 250 00:14:05,080 --> 00:14:08,680 And so they'll start having their own internal dialogue 251 00:14:08,760 --> 00:14:12,920 about repeating this success over and over and over again. 252 00:14:13,360 --> 00:14:16,480 And as a business owner, one of the stresses we deal with every 253 00:14:16,480 --> 00:14:19,640 day is payroll every week or every two weeks, however you're 254 00:14:19,640 --> 00:14:21,640 set up. And then how you going to 255 00:14:21,640 --> 00:14:25,040 sustain this, excuse me, long term, right. 256 00:14:25,320 --> 00:14:29,720 We all have these flashes in the pan of profit and success, but 257 00:14:30,080 --> 00:14:32,560 maybe that was a certain customer that came in with a big 258 00:14:32,560 --> 00:14:35,720 order and then now we need to go find the next customer. 259 00:14:35,720 --> 00:14:39,200 And how do you going to continue this machine that you have to 260 00:14:39,200 --> 00:14:42,480 feed that you built? So profit sharing has solved 261 00:14:42,480 --> 00:14:46,960 tons of of those issues that business owners deal with. 262 00:14:47,480 --> 00:14:50,720 And it's created this sense for myself. 263 00:14:50,720 --> 00:14:53,160 One of the huge things for myself that I did not see coming 264 00:14:53,160 --> 00:14:57,160 was I don't feel alone like I did before. 265 00:14:57,640 --> 00:15:01,840 I don't feel like it's me at the top cracking the web pulling 266 00:15:01,840 --> 00:15:05,600 people up or at the bottom trying to push people up all the 267 00:15:05,600 --> 00:15:08,560 time. I have team members that are 268 00:15:08,600 --> 00:15:13,640 pulling with me and pushing with me, other team members to be in 269 00:15:13,640 --> 00:15:17,840 the same direction and getting them on board without me having 270 00:15:17,840 --> 00:15:20,520 to do it or out me having to lead the charge. 271 00:15:21,200 --> 00:15:23,720 So there's a, there's a ton of things that you know, you can 272 00:15:23,720 --> 00:15:27,240 imagine, you know, the biggest complaint business owners have 273 00:15:27,240 --> 00:15:29,560 is the whole thinking, caring and working like a business 274 00:15:29,560 --> 00:15:31,480 owner. Well, the reason why your 275 00:15:31,480 --> 00:15:34,440 employees don't do that is because they don't get paid like 276 00:15:34,440 --> 00:15:37,640 a business owner does, right? They don't have the same skin in 277 00:15:37,640 --> 00:15:40,200 the game. That business is a job to them. 278 00:15:40,200 --> 00:15:42,880 It's not their identity like a business owner has. 279 00:15:43,440 --> 00:15:49,280 So when you can bridge that gap and, and create this kind of 280 00:15:49,280 --> 00:15:53,640 self-employed mentality among the team and then paint the 281 00:15:53,640 --> 00:15:57,520 picture that the team wins together or dies together, 282 00:15:57,560 --> 00:15:59,800 right? Tom Brady, you know that we all 283 00:15:59,800 --> 00:16:03,600 know Tom Brady is did not win those football games by himself 284 00:16:04,440 --> 00:16:05,840 and he's a great football player. 285 00:16:05,840 --> 00:16:09,480 But if there was 11 Tom Brady's on that field playing this game, 286 00:16:09,480 --> 00:16:11,360 they would have lost every single game, right? 287 00:16:11,360 --> 00:16:13,320 So you have to have people's different strengths and 288 00:16:13,320 --> 00:16:16,680 weaknesses in the right position and the right timing and the 289 00:16:16,680 --> 00:16:21,120 right training as a team. They won all those games and all 290 00:16:21,120 --> 00:16:23,040 those Super Bowls. And that's what you're trying to 291 00:16:23,320 --> 00:16:27,320 create in your business as the owner, is that teamwork, putting 292 00:16:27,320 --> 00:16:30,560 people on the right seat on the bus to drive it forward every 293 00:16:30,560 --> 00:16:32,960 single day. Absolutely. 294 00:16:32,960 --> 00:16:35,840 And there's so much value in what you've just shared around 295 00:16:36,320 --> 00:16:40,600 this sense of such deeply felt mutual ownership. 296 00:16:40,920 --> 00:16:45,600 And it's something that I, in various episodes across my show, 297 00:16:45,960 --> 00:16:49,000 I've talked about that, that when you drive ownership, it's 298 00:16:49,000 --> 00:16:51,280 not just accountability, but actual ownership. 299 00:16:51,600 --> 00:16:54,600 That's when you see people working differently and working 300 00:16:54,600 --> 00:16:57,880 differently together. And when I think about some of 301 00:16:57,880 --> 00:17:01,440 the HR problems that naturally come to mind for someone like me 302 00:17:01,440 --> 00:17:04,319 and probably many of the listeners too, around how do you 303 00:17:04,359 --> 00:17:06,720 navigate poor performance? What do you do? 304 00:17:06,960 --> 00:17:11,920 I mean, to me into intuitively, it makes me think, well, the 305 00:17:11,920 --> 00:17:15,800 poor performers are so obvious because you have all of these 306 00:17:15,800 --> 00:17:20,480 other people who are so with it and in the game and focused on, 307 00:17:20,480 --> 00:17:23,520 on winning together, that then the person to your point, who 308 00:17:23,520 --> 00:17:29,720 isn't pulling their weight is potentially kind of an outcast 309 00:17:29,720 --> 00:17:32,400 because they're not, they're not doing what they need to do. 310 00:17:32,400 --> 00:17:35,320 And then it's like, well, they're going to take a, a cut 311 00:17:35,320 --> 00:17:37,600 of the profits that we're working toward. 312 00:17:38,000 --> 00:17:42,400 And so I imagine it's, it's like any other underperformers 313 00:17:42,400 --> 00:17:46,440 circumstance where, you know, the the team and the managers 314 00:17:46,440 --> 00:17:50,240 work to, you know, either get them to be where they need to be 315 00:17:50,240 --> 00:17:52,240 or to resolve the issue entirely. 316 00:17:52,560 --> 00:17:56,040 And then it also makes me think about how people are rewarded 317 00:17:56,040 --> 00:17:58,720 when they are are going above and beyond and they are, you 318 00:17:58,720 --> 00:18:04,600 know, clearly driven by being, you know, having the sense of 319 00:18:04,600 --> 00:18:07,840 ownership in a company. Those people, even in 320 00:18:07,840 --> 00:18:11,640 organizations where profit sharing is not established, are 321 00:18:11,640 --> 00:18:14,440 generally hopefully well rewarded. 322 00:18:14,600 --> 00:18:18,880 But I would imagine in a profit sharing based organization that 323 00:18:18,880 --> 00:18:23,400 they're able to be rewarded even more fruitfully because of the 324 00:18:23,400 --> 00:18:25,720 impact that they have or the promotions that they get. 325 00:18:26,520 --> 00:18:29,840 And you did also mention kind of at the top of the recording that 326 00:18:31,280 --> 00:18:35,160 your retention is, is fundamental, like you've been 327 00:18:35,160 --> 00:18:39,360 able to retain your team in such a way that is generally quite 328 00:18:39,360 --> 00:18:42,760 difficult to do for companies because you know what, what's in 329 00:18:42,760 --> 00:18:45,560 it for them. And so I'm sure there's a, 330 00:18:45,600 --> 00:18:48,320 there's a really important story there too. 331 00:18:48,760 --> 00:18:50,560 Yeah. So a couple things for your 332 00:18:50,560 --> 00:18:53,400 listeners. We still pay a competitive wage 333 00:18:53,480 --> 00:18:57,680 in our marketplace. So this is not a low base salary 334 00:18:57,680 --> 00:19:01,800 plus Commission type role. So where the retention comes in 335 00:19:01,800 --> 00:19:05,080 is that, you know, you have a, you know, construction 336 00:19:05,080 --> 00:19:08,680 Superintendent and his wages, let's say in the area, let's say 337 00:19:08,680 --> 00:19:12,360 they're $80,000 a year salary. OK, so he can get a job 338 00:19:12,440 --> 00:19:16,760 somewhere else making $80,000 a year, but can he get a job 339 00:19:16,760 --> 00:19:20,520 making $80,000 a year? That's offering a, you know, a 340 00:19:20,560 --> 00:19:25,520 minimal $1000 threshold profit sharing program where, you know, 341 00:19:25,520 --> 00:19:28,360 we hit, you know, 910 times out of the year. 342 00:19:28,360 --> 00:19:31,960 So there's an extra $10,000 of income that he gets at our 343 00:19:31,960 --> 00:19:34,640 company. So he's actually making more 344 00:19:34,640 --> 00:19:37,680 money than the competitive weight for the competitive wages 345 00:19:37,680 --> 00:19:40,800 for his his role. And then he's also works in an 346 00:19:40,800 --> 00:19:43,280 environment that works together, right? 347 00:19:43,360 --> 00:19:45,440 The culture is good. Like you said, you left a team 348 00:19:45,440 --> 00:19:48,600 that was really good and then realized when you were gone what 349 00:19:48,600 --> 00:19:50,880 you had. And so, you know, we talked 350 00:19:50,880 --> 00:19:53,680 about those things, we teach those things and and they see 351 00:19:53,680 --> 00:19:57,680 that and live that every day. The the other thing I wanted to 352 00:19:57,680 --> 00:20:00,040 mention, you brought up about the employee owned stock. 353 00:20:00,680 --> 00:20:03,920 You brought up the, you know, like a quarterly type profit 354 00:20:03,920 --> 00:20:06,560 sharing bonuses or they work it into their salary. 355 00:20:06,560 --> 00:20:09,560 So the. One of the big differences with 356 00:20:09,560 --> 00:20:13,800 my program is let's talk about the employee owned stock. 357 00:20:13,800 --> 00:20:17,000 That's the biggest example. I'm in the Bay Area, so I see 358 00:20:17,160 --> 00:20:20,760 startups, these tech startups, these AI companies, these tech 359 00:20:20,760 --> 00:20:24,600 companies all over the time. And their biggest hook is the 360 00:20:24,840 --> 00:20:28,440 stock that they give people, you know, early days when they're, 361 00:20:28,920 --> 00:20:32,120 they're not worth anything. So you, you're an engineer, you 362 00:20:32,120 --> 00:20:34,840 join in, they're going to give you 10,000 stock or whatever 363 00:20:34,840 --> 00:20:38,000 that's worth nothing. But and then that's their hook 364 00:20:38,000 --> 00:20:41,480 into you who perform and help this team, this company grow and 365 00:20:41,480 --> 00:20:44,200 get this huge evaluation where that stock becomes money. 366 00:20:45,320 --> 00:20:48,040 We only hear about the success stories, right? 367 00:20:48,280 --> 00:20:52,600 One of my early jobs I did was for an IBM employee, number 27, 368 00:20:53,120 --> 00:20:57,520 and he was a forklift driver and he worked there his whole career 369 00:20:57,520 --> 00:21:00,800 and became the warehouse manager logistics, you know, as IBM 370 00:21:00,800 --> 00:21:04,760 grew, he, he grew with the company and he retired a very 371 00:21:04,760 --> 00:21:08,080 wealthy man because of these stock options that he had. 372 00:21:08,440 --> 00:21:12,040 So we all hear those stories. I can tell you this, they're 373 00:21:12,040 --> 00:21:14,400 rare. There's way more stories of 374 00:21:14,400 --> 00:21:17,720 these startups firing up, getting these stock options and 375 00:21:17,720 --> 00:21:20,880 then the company not making it or never, you know, going out of 376 00:21:20,880 --> 00:21:26,320 business, losing their funding. You know, my, my, my EA was 377 00:21:26,320 --> 00:21:27,560 sitting in the room with me right now. 378 00:21:27,560 --> 00:21:30,760 Worked at a company like that where they lost funding for this 379 00:21:30,760 --> 00:21:35,000 project and then overnight the company was gone and what that 380 00:21:35,000 --> 00:21:39,000 stock option, that hook, that supposedly profit sharing was 381 00:21:39,000 --> 00:21:42,800 worth nothing. So this program is way more nuts 382 00:21:42,800 --> 00:21:46,760 and bolts. We paid out monthly, not 383 00:21:46,760 --> 00:21:49,840 quarterly, not, you know, at Christmas time. 384 00:21:49,840 --> 00:21:53,040 And the reason why we do that because that ties in somebody's 385 00:21:53,040 --> 00:21:57,000 daily behavior because you're affecting their monthly bills. 386 00:21:57,200 --> 00:22:01,040 Everybody's bills are monthly. No one thinks about their 387 00:22:01,040 --> 00:22:03,640 grocery budget. What did it is quarterly, right? 388 00:22:03,640 --> 00:22:05,120 We don't think about it. Right. 389 00:22:05,720 --> 00:22:08,760 We don't think that far ahead. Everything financially that we 390 00:22:08,760 --> 00:22:12,040 finance, that we budget for is done on a monthly basis. 391 00:22:12,640 --> 00:22:18,600 So why are we not making that cow fatter that monthly? 392 00:22:18,600 --> 00:22:20,640 I think of it like a gas tank, right? 393 00:22:21,120 --> 00:22:24,080 So every month we fill up the tank of gas and then we got to 394 00:22:24,080 --> 00:22:26,360 make it to the end of the month before we hit E. 395 00:22:26,760 --> 00:22:28,800 And hopefully, you know, some of us are better about it than 396 00:22:28,800 --> 00:22:31,000 others, but hope there's, you know, there's some because some 397 00:22:31,000 --> 00:22:33,040 going that's going to be left at the bottom of that tank. 398 00:22:33,640 --> 00:22:37,600 When you profit share monthly, you're affecting that needle 399 00:22:37,760 --> 00:22:39,360 that everybody thinks about every day. 400 00:22:39,680 --> 00:22:41,360 Everybody thinks about their bills every day. 401 00:22:41,760 --> 00:22:44,120 And then when they're thinking about that and how they can fill 402 00:22:44,120 --> 00:22:47,480 up that gas tank more, that's where you would tie in the daily 403 00:22:47,480 --> 00:22:51,120 actions and thoughts of your team members towards that 404 00:22:51,120 --> 00:22:53,960 monthly goal. That's awesome. 405 00:22:53,960 --> 00:22:59,800 I love that you talk about the behaviors tied to this strategy 406 00:22:59,800 --> 00:23:03,680 in paying, paying out the profit sharing percentages monthly. 407 00:23:04,040 --> 00:23:07,600 That to me is actually the biggest issue that I have with 408 00:23:07,600 --> 00:23:12,760 like a standard bonus scheme or, or structure within a business 409 00:23:12,760 --> 00:23:18,320 that doesn't have profit sharing because the 1/4 or 1/2 or one 410 00:23:18,560 --> 00:23:22,800 bonus per year is just simply not enough to actually transform 411 00:23:23,120 --> 00:23:26,840 or adjust or alter behaviors and behavior changes that you need 412 00:23:26,840 --> 00:23:30,840 to be consistent. And I think your your example of 413 00:23:30,840 --> 00:23:33,720 the grocery bill or the gas tank, that's a, it's a perfect 414 00:23:33,720 --> 00:23:37,280 example. Like we, we move on from things 415 00:23:37,280 --> 00:23:40,400 very quickly. Like if someone as humans, if 416 00:23:40,400 --> 00:23:43,280 someone gets feedback that they need to do something differently 417 00:23:43,480 --> 00:23:47,400 and they get it once in an entire quarter that the next 418 00:23:47,400 --> 00:23:49,280 quarter it's probably not even going to be brought up because 419 00:23:49,280 --> 00:23:51,520 the manager forgot about it. Or they're, you know, they're 420 00:23:51,520 --> 00:23:54,160 not really that much of an underperformer and the person 421 00:23:54,520 --> 00:23:56,400 wasn't followed up on. So it doesn't actually really 422 00:23:56,400 --> 00:23:59,080 matter. But when someone is impacted or, 423 00:23:59,200 --> 00:24:03,640 or spoken to monthly, or in this case, their bottom line is 424 00:24:03,640 --> 00:24:07,680 impacted because the profit isn't there for at the company 425 00:24:07,680 --> 00:24:09,400 level. So they're not making that 426 00:24:09,600 --> 00:24:12,520 additional X amount of dollars per month. 427 00:24:13,240 --> 00:24:16,040 They're listening, they're, they're aware of what behaviors 428 00:24:16,040 --> 00:24:18,080 they need to either continue or change. 429 00:24:18,440 --> 00:24:23,920 And behaviors to me are the that's like the catalyst for how 430 00:24:23,920 --> 00:24:27,240 companies can can change and grow. 431 00:24:27,240 --> 00:24:29,720 And especially, you know, we talk about culture a lot on my 432 00:24:29,720 --> 00:24:34,280 podcast and culture generally comes down to the behaviors that 433 00:24:34,280 --> 00:24:38,680 are celebrated and rewarded or the, the behaviors that are not 434 00:24:38,680 --> 00:24:42,400 celebrated and rewarded. And either they're hopefully 435 00:24:42,400 --> 00:24:44,760 they're the right behaviors that are being celebrated and 436 00:24:44,760 --> 00:24:47,000 rewarded. But sometimes in companies that 437 00:24:47,000 --> 00:24:50,720 have, you know, more challenging cultures, the wrong behaviors 438 00:24:50,720 --> 00:24:52,240 are the ones that are celebrated and rewarded. 439 00:24:52,240 --> 00:24:56,520 And so behavior I think is, is really fundamental to business 440 00:24:56,520 --> 00:24:59,280 strategy and and to collaboration and mutual 441 00:24:59,280 --> 00:25:01,200 ownership and all of those things that we've talked about. 442 00:25:01,560 --> 00:25:05,160 And certainly as you've pointed out, really fundamental to 443 00:25:05,160 --> 00:25:08,920 profit sharing because you everyone benefits when the right 444 00:25:08,920 --> 00:25:11,560 behaviors are displayed and rewarded. 445 00:25:11,560 --> 00:25:13,160 Correct. Yeah. 446 00:25:13,200 --> 00:25:16,760 Yeah, like one thing I preach against is Christmas bonuses. 447 00:25:17,440 --> 00:25:20,600 Nobody thinks about getting their Christmas bonus in 448 00:25:20,600 --> 00:25:24,760 February. No one's working harder in March 449 00:25:24,800 --> 00:25:26,800 thinking about that Christmas bonus now. 450 00:25:26,800 --> 00:25:29,480 Christmas bonuses are fun, right? 451 00:25:29,480 --> 00:25:32,840 That's a great Christmas party. People do look forward to them. 452 00:25:32,840 --> 00:25:35,400 They actually wait till after Christmas to quit to make sure 453 00:25:35,400 --> 00:25:37,040 that they get it. Yes right. 454 00:25:37,160 --> 00:25:41,080 So we see a lot of, we see a lot of two week notices in January. 455 00:25:41,080 --> 00:25:42,280 In January. Yeah. 456 00:25:42,760 --> 00:25:47,880 But when you do it monthly, so that so and then I got to be a 457 00:25:47,880 --> 00:25:50,360 better example like the quarterly bonuses are when we 458 00:25:50,360 --> 00:25:52,680 started our profit sharing program, we had like I said, it 459 00:25:52,680 --> 00:25:54,360 was total disaster. We didn't know what we were 460 00:25:54,360 --> 00:25:56,720 doing. So we started quarterly because 461 00:25:56,720 --> 00:25:59,960 that's what you hear about the corporate quarter bonus, you 462 00:25:59,960 --> 00:26:04,200 know, in, in America here. And so we started that way. 463 00:26:04,320 --> 00:26:08,240 Nobody thought about their bonus they were going to get in April 464 00:26:08,240 --> 00:26:10,400 for the first quarter. They didn't think about it in 465 00:26:10,400 --> 00:26:14,560 January or February. And I, I saw this sense of rush 466 00:26:15,280 --> 00:26:18,520 in the middle of March. So here we are. 467 00:26:18,520 --> 00:26:23,120 We have 12 weeks to get this quota or to, you know, to make 468 00:26:23,120 --> 00:26:26,080 this as big as we can. And now we're thinking about it 469 00:26:26,080 --> 00:26:29,320 two weeks before we didn't, we didn't do anything extra in 470 00:26:29,320 --> 00:26:32,120 January or February. So that's what made his 471 00:26:32,120 --> 00:26:35,000 transition to the monthly. And that's where I really want 472 00:26:35,000 --> 00:26:37,480 your listeners to hear that. That's how so important it is. 473 00:26:37,480 --> 00:26:40,800 Because when you're when you're bonusing out quarterly or 474 00:26:40,800 --> 00:26:44,400 yearly, you're not changing that needle, you're not feeling that 475 00:26:44,400 --> 00:26:46,000 gas tank that they're worried about. 476 00:26:46,560 --> 00:26:50,120 So you're not in their daily thoughts and actions and 477 00:26:50,120 --> 00:26:53,640 therefore that dollar those, that money that company's paying 478 00:26:53,680 --> 00:26:59,400 is a complete waste and it's super inefficient when you tie 479 00:26:59,400 --> 00:27:03,200 in their monthly financial needle to the the income, extra 480 00:27:03,200 --> 00:27:04,720 profit sharing that they can make. 481 00:27:05,440 --> 00:27:09,600 That's where you're going to see your, your estimator driving to 482 00:27:09,600 --> 00:27:12,160 a job site 20 minutes. A lay is not going to listen to 483 00:27:12,160 --> 00:27:14,560 the radio and zone out. He's going to listen to a 484 00:27:14,560 --> 00:27:18,440 podcast about being a better estimator or about communication 485 00:27:18,800 --> 00:27:22,240 or about being a better leader. They'll start doing things and 486 00:27:22,240 --> 00:27:27,760 they're they'll start reading self help books at home or learn 487 00:27:27,760 --> 00:27:32,560 more about their their trade to help affect that needle more 488 00:27:32,560 --> 00:27:37,160 everyday for their own lives. Absolutely, absolutely. 489 00:27:37,160 --> 00:27:40,720 I think you know, again, everything that you're saying 490 00:27:40,720 --> 00:27:46,120 makes it's, it's so intuitive, like it makes total sense. 491 00:27:46,480 --> 00:27:48,400 Not everyone. Is used everywhere then. 492 00:27:48,920 --> 00:27:51,480 That well, that's the thing and that's actually exactly where 493 00:27:51,480 --> 00:27:54,160 I'm going because one of the things that I was thinking about 494 00:27:54,160 --> 00:27:57,040 is that not everyone is meant to own their own business. 495 00:27:57,040 --> 00:27:58,840 Not everyone is going to own their own business. 496 00:27:59,240 --> 00:28:01,200 And so this is like the next best thing. 497 00:28:01,200 --> 00:28:05,560 They get to influence, they get to impact and they get to take 498 00:28:05,760 --> 00:28:10,520 the same level of pride in what they do for someone else's 499 00:28:10,520 --> 00:28:12,640 business and, and have that mutual ownership. 500 00:28:12,960 --> 00:28:17,520 And so my final question for you is why aren't more businesses 501 00:28:17,520 --> 00:28:20,440 doing this? Like it seems like such an A 502 00:28:20,440 --> 00:28:24,880 simple, not simple, but you know on the surface such an intuitive 503 00:28:24,880 --> 00:28:28,880 and simple way to drive better collaboration, better teamwork 504 00:28:28,880 --> 00:28:31,840 and more ownership. Yeah, that's a great question. 505 00:28:31,880 --> 00:28:34,080 And it's a question that I want to answer for everybody and 506 00:28:34,080 --> 00:28:37,320 solve because I just think back to when I was running my 507 00:28:37,320 --> 00:28:40,600 business without it and I come across this idea. 508 00:28:40,600 --> 00:28:42,520 So for one, I didn't know about it. 509 00:28:42,680 --> 00:28:45,360 You don't hear about this like a ton or a lot. 510 00:28:45,360 --> 00:28:47,080 It's not preached from the mountaintops. 511 00:28:47,880 --> 00:28:50,960 But and then once I got the idea and I was like, you know, I kind 512 00:28:50,960 --> 00:28:53,320 of want to pursue this. I think this would solve a lot 513 00:28:53,320 --> 00:28:56,240 of my, my problems. You know, I felt this ceiling in 514 00:28:56,240 --> 00:29:00,880 my organization of how do I take these 30 people and get them on 515 00:29:00,880 --> 00:29:03,720 the same page And it, that's it. That's a daunting task. 516 00:29:03,720 --> 00:29:07,160 You know, I was, I was 28 years old and I had a lot of 517 00:29:07,160 --> 00:29:09,800 leadership experience. Like I was ahead of my game as 518 00:29:09,800 --> 00:29:12,600 far as that. So I felt like if I was going to 519 00:29:12,600 --> 00:29:15,680 struggle with this, you know, that's why I started going to 520 00:29:15,680 --> 00:29:18,600 these 60 year old business owners that been doing it for 30 521 00:29:18,600 --> 00:29:20,560 years and I wasn't getting good answers. 522 00:29:21,240 --> 00:29:25,120 And then when I started looking into it, there was no how to. 523 00:29:25,120 --> 00:29:28,960 And then I remember that moment sitting at my desk with a blank 524 00:29:28,960 --> 00:29:32,720 piece of paper and a pen and just immediately getting stuck 525 00:29:33,320 --> 00:29:34,600 because there's so many questions. 526 00:29:34,600 --> 00:29:37,680 As a business owner, there's so many metrics financially that 527 00:29:37,680 --> 00:29:40,960 you have to keep an eye on. And those business owners, 528 00:29:40,960 --> 00:29:44,040 business ownership is hard. You're worried about, you know, 529 00:29:44,040 --> 00:29:47,680 sustaining what's going on. You're worried about the 530 00:29:47,680 --> 00:29:52,160 problems you're having today. You're worried about making your 531 00:29:52,160 --> 00:29:55,200 commitments tomorrow, whether that's financial or jobs or 532 00:29:55,200 --> 00:29:57,840 promises or suppliers or whatever it is, right? 533 00:29:58,240 --> 00:30:01,800 And so to actually, first of all, just to have time to work 534 00:30:01,800 --> 00:30:04,400 and think on your business is a challenge. 535 00:30:05,000 --> 00:30:07,560 And we get so caught up being fireman. 536 00:30:07,560 --> 00:30:10,280 We get really good at being a fireman, putting out fires all 537 00:30:10,280 --> 00:30:12,600 day long, that that's what takes our attention. 538 00:30:13,200 --> 00:30:16,680 And then you get down to it. There was no guidance, there was 539 00:30:16,680 --> 00:30:20,000 no help. And my book is the first book 540 00:30:20,000 --> 00:30:23,360 that I've been able to find that actually tells you how to do it 541 00:30:24,160 --> 00:30:27,640 and gives And then my probe, my class, my course gives you the 542 00:30:27,640 --> 00:30:29,480 spreadsheets that I still use today. 543 00:30:30,200 --> 00:30:34,280 And it gives you all the things that you need to have in order 544 00:30:34,280 --> 00:30:37,480 before you profit share, right? Because like when I started, I 545 00:30:37,480 --> 00:30:41,160 was like, can I even do this? Is this even sustainable? 546 00:30:41,400 --> 00:30:44,240 Is it smart? You know, all these questions I 547 00:30:44,240 --> 00:30:48,120 had and I just jumped off the Cliff and it took about three 548 00:30:48,120 --> 00:30:49,960 years before I landed on my feet. 549 00:30:50,480 --> 00:30:54,720 And it was a huge success. But that's why people don't do 550 00:30:54,720 --> 00:30:56,200 it. And then as business owners, 551 00:30:56,200 --> 00:30:58,680 you're constantly being bombarded with, you need more 552 00:30:58,680 --> 00:31:01,040 marketing. You need more this, these 553 00:31:01,040 --> 00:31:04,520 communication classes, these trainings, this you got to fly 554 00:31:04,520 --> 00:31:06,800 your people to this conference. You know, there's all these 555 00:31:06,800 --> 00:31:10,200 things that are constantly coming at you that cost money 556 00:31:10,880 --> 00:31:13,240 that do help. I think, I think I'm a huge fan 557 00:31:13,240 --> 00:31:15,360 of education and investing in your team. 558 00:31:15,840 --> 00:31:17,480 But it's like, how much do you do? 559 00:31:18,080 --> 00:31:19,720 When do you do it? Who do you do it with? 560 00:31:19,720 --> 00:31:22,120 What do you do it about? Like there it's a lot for a 561 00:31:22,120 --> 00:31:26,520 business owner. And as you grow, and I think 562 00:31:26,520 --> 00:31:29,680 this really like this kind of really kicks in as a problem 563 00:31:29,680 --> 00:31:33,000 when you get to about employee five through 10, you know, when 564 00:31:33,000 --> 00:31:35,960 you're as mom and pop and you're in your garage, like I started 565 00:31:35,960 --> 00:31:40,320 in my garage and I had five guys, they saw me every day. 566 00:31:40,640 --> 00:31:43,600 It was easy to know what everybody was doing and going 567 00:31:43,600 --> 00:31:45,760 on. And this problem didn't really, 568 00:31:46,000 --> 00:31:49,200 it started smacking me in the face till probably employee 569 00:31:49,200 --> 00:31:52,920 number 10. But it really punched me at #30 570 00:31:53,440 --> 00:31:55,920 And then I'm like, Dang, I feel the ceiling. 571 00:31:55,920 --> 00:32:00,720 And there's got to be, there's got to be a better way and a 572 00:32:00,720 --> 00:32:03,720 different way to do this that that's not going to send me to 573 00:32:03,720 --> 00:32:05,960 an early grave. That's not going to take me away 574 00:32:05,960 --> 00:32:08,840 from my children and my marriage, that I can have a 575 00:32:08,840 --> 00:32:12,720 balance with all that, whatever balance means, but they can have 576 00:32:12,720 --> 00:32:16,280 this this success without me doing everything myself. 577 00:32:17,440 --> 00:32:20,440 Totally. I really appreciate all of the, 578 00:32:21,840 --> 00:32:24,040 all of the ways that you've thought about your own business 579 00:32:24,040 --> 00:32:28,640 and, and others and, and how you kind of took this problem that 580 00:32:28,640 --> 00:32:31,280 you found where you you couldn't find the answers. 581 00:32:31,280 --> 00:32:33,560 You knew you needed an answer and you couldn't find them. 582 00:32:33,560 --> 00:32:36,400 And so you created a solution for that. 583 00:32:36,400 --> 00:32:37,640 So I think that's really awesome. 584 00:32:37,640 --> 00:32:41,640 And and really again, like very inspiring, very motivating to 585 00:32:41,640 --> 00:32:44,720 think, you know, we all could for those of us who aspire to 586 00:32:45,360 --> 00:32:48,280 have our own businesses or who do own our own businesses, that 587 00:32:48,280 --> 00:32:51,640 we could also one day kind of engage in the same type of 588 00:32:51,640 --> 00:32:54,600 structure. Should we be so lucky to, you 589 00:32:54,600 --> 00:32:57,680 know, grow our businesses to be able to do that. 590 00:32:57,680 --> 00:33:01,080 So thank you, Rob so much for coming on the podcast, being our 591 00:33:01,080 --> 00:33:05,800 first official profit sharing guru and sharing your wisdom. 592 00:33:05,960 --> 00:33:08,880 And in a sense, you've profit shared with us because you've 593 00:33:09,160 --> 00:33:12,120 you've helped us to understand what we can do for our own 594 00:33:12,120 --> 00:33:16,000 organizations or our own businesses that we might own and 595 00:33:16,000 --> 00:33:20,560 hopefully have a better and more deeply felt impact on the people 596 00:33:20,560 --> 00:33:23,280 around us and the organizations that we're within. 597 00:33:23,280 --> 00:33:26,360 So thank you and we'll have everything linked. 598 00:33:26,360 --> 00:33:29,400 But just as a point, where can everyone find your book and 599 00:33:29,600 --> 00:33:32,160 register for a class and get to know you a bit better? 600 00:33:32,240 --> 00:33:34,480 Get connected. Yeah, so the book is on Amazon. 601 00:33:34,680 --> 00:33:36,800 It's like 10 bucks. We're not making any money on 602 00:33:36,800 --> 00:33:37,880 it. We just want to get the word 603 00:33:37,880 --> 00:33:39,920 out. In that book, you'll find the 604 00:33:40,000 --> 00:33:42,840 three things that you need before you consider profit 605 00:33:42,840 --> 00:33:45,480 sharing. You'll find the 10 rules on 606 00:33:45,480 --> 00:33:47,680 profit sharing that I've learned all the hard way. 607 00:33:48,040 --> 00:33:52,040 It was not an instant success. This is all from the ground up 608 00:33:52,760 --> 00:33:56,960 and you'll also find we talked about the VMS, the decision 609 00:33:56,960 --> 00:33:59,520 makers of who gets it and how do you determine that? 610 00:33:59,520 --> 00:34:02,400 So there's a lot of things and there's a great jump start and 611 00:34:02,400 --> 00:34:06,240 then profit x.co is our website where you can buy the course. 612 00:34:06,760 --> 00:34:10,920 You can also buy time with me and I can personally walk you 613 00:34:10,920 --> 00:34:14,120 through and help you and guide you in setting up your profit 614 00:34:14,120 --> 00:34:18,159 sharing program for success. Find me on Facebook and 615 00:34:18,159 --> 00:34:20,120 Instagram. Rob Gallaher. 616 00:34:20,480 --> 00:34:23,000 You know, it's not all work and business on there. 617 00:34:23,159 --> 00:34:27,000 I got hobbies and my kids and funny stuff we do in the gym and 618 00:34:27,159 --> 00:34:29,440 what's going on in my life. So I'd love to connect with 619 00:34:29,960 --> 00:34:33,199 business owners and leaders in the industry that that really 620 00:34:33,199 --> 00:34:36,840 looking for the, you know, the, the cherry on top of being a 621 00:34:36,840 --> 00:34:40,280 leader and having an organization that kicks butt. 622 00:34:41,639 --> 00:34:43,159 Awesome. Thank you so much, Rob. 623 00:34:43,159 --> 00:34:46,080 Again, really appreciate it and hopefully we'll have you back on 624 00:34:46,080 --> 00:34:47,760 the podcast one day. Thank you, Tracy. 625 00:34:47,760 --> 00:34:50,199 That was fun. Hey, just before you go, don't 626 00:34:50,199 --> 00:34:53,000 forget to subscribe to the show so that you are the first to 627 00:34:53,000 --> 00:34:56,760 hear when an episode drops each week and maybe leave a five star 628 00:34:56,760 --> 00:34:59,360 review and a comment about how much you loved this episode. 629 00:34:59,480 --> 00:35:02,120 Plus, if you have someone in mind who would really enjoy this 630 00:35:02,120 --> 00:35:03,760 episode, make sure you share it with them. 631 00:35:03,840 --> 00:35:06,360 Thank you so much for. Tuning in and I'll see you next 632 00:35:06,360 --> 00:35:06,720 week.