Chapter
Best practices for implementing a profit sharing program
1:19:41 - 1:23:13 (03:31)
The podcast discusses best practices for implementing a profit sharing program, including how to determine how much of the profits should be distributed versus reinvested, and creative options such as funding employees' 401k with profit share.
Clips
The podcast discusses implementing profit sharing programs in your business, specifically looking at how much of your profits to dividend versus reinvest and the implementation process for a small group of people to become true partners in the business.
1:19:41 - 1:22:24 (02:42)
Summary
The podcast discusses implementing profit sharing programs in your business, specifically looking at how much of your profits to dividend versus reinvest and the implementation process for a small group of people to become true partners in the business.
ChapterBest practices for implementing a profit sharing program
Episode#105 with Avlok Kohli and Xavier Helgesen - Leading AngelList Ventures and Buying Businesses Like Berkshire Hathaway
PodcastMy First Million
The key to building a successful business plan is to have a realistic financial plan with known metrics, conservative assumptions, and contingencies for things that can go wrong.
1:22:24 - 1:23:13 (00:48)
Summary
The key to building a successful business plan is to have a realistic financial plan with known metrics, conservative assumptions, and contingencies for things that can go wrong. Larger companies implement profit sharing and bonuses for hitting plan as well as funding employee 401ks.