TCF336: 5AM Fight - Should You Give Bonuses to Your Employees?

Many contractors have gotten into trouble over the bonus policies. Tom can tell you first-hand that 100% of companies that he has worked with that had bonus plans were in trouble. There are great alternatives to bonus plans, but if that is the route that you choose to go then make sure you know what you are doing!   In this episode, we talk about… A poorly planned bonus plan can sink your business Here’s why Tom doesn’t believe in bonus plans Get squared away with your numbers and bookkeeping Problems in your business are created during the good times Job cost your projects within a week of completion Set specific criteria so you know when someone should get a bonus

Links to resources: Conquest Coaching with Tom Reber Learn how to market like a pro in our Marketing Boot Camp!  Schedule A Contractor Sales Academy Demo Order Your Fight Planner The Contractor Fight Facebook Group The Contractor Fight Night The $100k Contractor is designed to get you to at least $100k a year in personal income. It’s time we quit stealing from our families and get that time back! The Bridge The Contractor Fight TV The Contractor Sales Academy Podcast   Want to stop sucking the life out of your contracting business? Join the Contractor Sales Academy and take command of your entire sales process! CSA is a game-changer for your business.   Read more at http://strongpreneur.libsyn.com/#vyWRWfcf0VRHIKyQ.99