Chris Savage
speaker
668 appearances
3 recordings
2 series
first heard Nov 2017
last heard Dec 2024
Chris Savage’s voice in public audio — every appearance, attributed to the second.
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Appearances
So you can either, you know, hold onto your options or if you sell your options, you can participate in profit sharing.
So we introduced profit sharing starting in
2018, where we take a percentage of the pool of EBITDA and put it directly for the employees.
And it's divided up based on people's salaries.
And we did that for a bunch of reasons because we audit salaries multiple times a year to make sure people are paid fairly and equitably.
That way it acts as like a bonus.
And there's a very clear connection between how the business is doing and how people are compensated.
We take a percent of EBITDA because we're serving the debt.
We got to pay taxes, a bunch of other things.
Okay.
that's how, that's how we've done it.
And it was actually very interesting.
And it was a huge lesson for me because, you know, we had given people options forever and they would talk about like, what's the valuation of the business?
Uh, 10%.
Yeah.
So we basically, you know, we, people would ask like, how much is the business worth?
We'll be like, well,
You can look at SaaS multiples and they look like whatever, 5x to 20x.
And you look at these other industries and it was just fuzzy math.
And I think it made it really hard for people to understand what to do.
Showing 341–360 of 668 · page 18 of 34
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