If Cash is King, What is Profit?
We all know that ‘cash is king’ but as business owners, it seems that we really should be focused on profit, right? Profit is what we get to reinvest back into growing our businesses or, better yet, take home. Last week, I attended the Profit Mastery program, which...
May FOCUS Event: Proactively Improving Profitability
The first few years of business are a whirlwind. Hiring employees, building your client list, and optimizing operations take time and money, and more often than not businesses run in the red. However, once you’ve built a solid foundation for your company, it’s time to...
Foundations For an Effective Employee Incentive Plan
Over the past few years, the emphasis on employee engagement and happiness has been forefront in the business news and best practices. And though more companies are realizing Ping-Pong tables aren’t essential for workplace happiness, there’s certainly value in...
IPO Stock Ownership Won’t Create Loyalty for Lyft and Uber Drivers
Rideshare companies Lyft and Uber have announced stock ownership opportunities for their drivers as part of their IPOs this spring. In an effort to build driver loyalty, the programs offer the drivers cash bonuses that allow them to subscribe to shares of the...
Building a Deferred Compensation Plan to Drive Business Objectives
By Tom Ovendale, Principle, and Bob Gruber, Founder, The Rainier Group Deferred compensation can be a very valuable tool in helping CEOs accomplish their employee retention and incentive objectives. Unfortunately, many deferred compensation plans, once put into place,...
Incorporate These Changes If Your Business is Taxed as a Partnership
Tax season is upon us. Americans and their advisors are trying to sort out the nuances of the recent federal changes including the Tax Cuts and Jobs Act (TCJA) of 2017 that applies to this year’s filings. However, the TCJA isn’t the only regulation complicating...
Do Employees Care About Ownership?
We hear it all the time — “I want employees to think like owners”. This desire by business owners to align employee behavior with the objectives of owners often results in compensation and other incentive plans that mimic the financial results that owners receive....
April FOCUS Event: Tools to Drive Ownership Thinking
Deferred compensation plans can solve and avoid compensation problems, contribute to a greater rate of growth and profitability, and increase the probability of attracting and retaining key personnel. While not a cure-all, deferred comp plans can be an important part...
Steps to Effective Delegation as a Business Leader
Business owners are notorious for excelling at doing the work. Often, they start their businesses because they’re good at what they do and customers like working with them. As the business grows, they find themselves overwhelmed — trying to both do the work and run...
March FOCUS Event: Transitioning From Doer to Leader
What does it take to executive flawlessly? Learning to delegate, set expectations, hold people accountable, develop courage and resiliency, and coach and motivate teams are all strengths that great leaders cultivate. But how do they learn? In our no-fail society, we...