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Employees Are What Make a Company Valuable
My guest today is Sherry Deutschmann, the founder of LetterLogic and currently Sunset Ventures. Sherry began LetterLogic in direct response to her previous employer’s lack of interest in improving business practices. She built her own business doing the exact same service, but with one key difference, she implemented an employee-first business model.
The model changed how her business grew, including creating a unique culture. Sherry’s intimate business model made her business desirable to clients and buyers alike. LetterLogic was included on the Inc 5000 list eleven years in a row!
Today, Sherry shares what lead to her decision to sell LetterLogic and what she would have done differently in hindsight. Employee-first companies are a rare business model, but the results can be shockingly impressive. Sherry makes a good argument for the business model and also warns against the downside of selling a business built on the employee-first mindset.
You will learn about:
Do you know the full value of company culture? It may surprise you to learn just how much value you, as an entrepreneur and business owner, can get out of establishing an employee-first culture. Sherry Deutschmann talks real numbers and how her company profited under this business model.
Employee Centric Business Model
One of the values near and dear to Sherry’s heart is paying it forward. As most entrepreneurs do, she established her business after discovering a severe lack in her industry for client care and company culture—she found herself endlessly apologizing to her clients on behalf of the cold culture at the company she worked for. Enter her first entrepreneurial step: selling everything to better fulfill this very niche market service gap.
She started her business in her basement and refused to compromise on her values. As she worked to grow her company, she made sure that her employees had as much buy-in to what she was doing as she did.
How did she make that happen?
She started doing some research into how to make her employees more invested in the business. What she came up with as unique approach to the market which included raising her minimum wage to more than double the state average and even employing profit sharing. And she found that neither of this things negatively impacted profit;
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By Arkona - Intentional GrowthMy guest today is Sherry Deutschmann, the founder of LetterLogic and currently Sunset Ventures. Sherry began LetterLogic in direct response to her previous employer’s lack of interest in improving business practices. She built her own business doing the exact same service, but with one key difference, she implemented an employee-first business model.
The model changed how her business grew, including creating a unique culture. Sherry’s intimate business model made her business desirable to clients and buyers alike. LetterLogic was included on the Inc 5000 list eleven years in a row!
Today, Sherry shares what lead to her decision to sell LetterLogic and what she would have done differently in hindsight. Employee-first companies are a rare business model, but the results can be shockingly impressive. Sherry makes a good argument for the business model and also warns against the downside of selling a business built on the employee-first mindset.
You will learn about:
Do you know the full value of company culture? It may surprise you to learn just how much value you, as an entrepreneur and business owner, can get out of establishing an employee-first culture. Sherry Deutschmann talks real numbers and how her company profited under this business model.
Employee Centric Business Model
One of the values near and dear to Sherry’s heart is paying it forward. As most entrepreneurs do, she established her business after discovering a severe lack in her industry for client care and company culture—she found herself endlessly apologizing to her clients on behalf of the cold culture at the company she worked for. Enter her first entrepreneurial step: selling everything to better fulfill this very niche market service gap.
She started her business in her basement and refused to compromise on her values. As she worked to grow her company, she made sure that her employees had as much buy-in to what she was doing as she did.
How did she make that happen?
She started doing some research into how to make her employees more invested in the business. What she came up with as unique approach to the market which included raising her minimum wage to more than double the state average and even employing profit sharing. And she found that neither of this things negatively impacted profit;