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Why pay more salary or give away ownership when there’s a smarter way?
This question is at the heart of today’s MVP’s business and it’s one that gets people’s attention quickly. Kevin Monaghan doesn’t mess around when it comes to the hard-earned money business owners earn and you will learn a lot today from him about how you can use that money more effectively while keeping plenty for yourself (as you should). He goes into detail about the six pillars of compensation he uses with all his clients and believe me — this information is gold.
Player stats for today’s MVP Kevin Monaghan:
Kevin Monaghan’s wide-ranging experiences, from Production Assistant on NBC’s The Office and Parks & Recreation to building an expat financial consulting business in China, prepared him for the work he does today – aligning the interests of Business Owners, Partners, and Investors (PE and VC) to structure compensation models maximizing clarity and rewards.
Currently based in Charlotte, N.C., Kevin founded Intuitive Compensation Group where he uses his skills of working with American business owners to help retain key employees, develop buyout strategies and navigate working family business partners.
He loves to teach entrepreneurs to help protect, incentivize, and compensate owners and key employees. Today, Kevin makes live appearances all over the country and helps Business Owners, Partnerships, Business Brokers (buyers & sellers), and key employees align their goals with workable compensation models that incentivize over time without running into some of the roadblocks of giving away equity, or control of dividend distribution.
3 key leadership skills and insights Kevin shares on today’s show:
- It’s never been easier to scale a business than it is today — but a good strategy is still imperative to make this work
- Clarity can go a long way in achieving big goals between business partners
- As a business owner, you will be judged for driving that new BMW or Mercedes when you don’t share some of your profits with the employees who helped you get that new car in the first place