Speaker 1: Today’s tip is around how you pay people in your business. Now, I’ve got five rules that will make things easier for you when you’re coming out with a pay plan. The first rule is it must be simple. It’s gotta be simple to understand because if there is any ambiguity, this can cause you or your employee or contractor a massive heartache and loss of energy.
Two, you’ve got to reward the results you want. There’s no point paying for something that you don’t want. A lot of people obsess about paying an hourly rate, but what you’re buying is one hour. It doesn’t necessarily stipulate a particular result that you’d like to get for that hour. So have a look at other ways you might be able to pay people. Maybe you can pay per project. That way they can complete the project in whatever time they like, but you get a specific results. So always reward what you want. And this is especially important if you have salespeople.
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