Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Kevin Tawil

๐Ÿ‘ค Speaker
See mentions of this person in podcasts
1363 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

Another interesting aspect of our compensation, Will, was this idea of full potential.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

So consistent with divine discontent, like reaching for those goals, we have a bonus plan that was a fair bonus plan that people would strive for, obviously.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

But we'd always have this souped up or supercharged bonus plan for hitting full potential.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

Because we didn't want to be that company that put out low targets and beat it.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

By the way, in any organization, that's sort of the natural state or people will tend toward that as you get more and more people because it's easier.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

Everybody wants to hit their goal, so you set a lower one, and if you beat it, nobody asks questions.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

And that's the road to mediocrity, honestly.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

Then you're just maintaining.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

You're not really pushing yourself.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

So we'd always have this full potential bonus that was something that was stretch and orientation.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

We would never really hit it all, but...

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

I can tell you it helped get us well beyond the reasonable plan we put in place and well toward the full potential of what we could be.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

You saw it in the results.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

I mean, the growth in the 2001 to 2007 timeframe was incredible.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

And super roughly, where did that kick in?

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

If budget was $100, then the full potential, it was really unbounded, but think about $150.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

The bonus would accelerate after the $100.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

And as a rule of thumb, for every dollar above hitting that plan, management will get a third of all the dollars that was made in that year.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

So an outsized portion of that pool over budget came to the management team.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

So it was an incredible motivator to really achieve full potential.