Nathan Berry
๐ค SpeakerAppearances Over Time
Podcast Appearances
And we didn't do that.
We spent a bunch in the first half of the year, but we were still way more profitable than we expected.
We doubled down further in the second half of the year.
And our accounting team last week was like,
Guys, we're still profitable.
So it's going to be smaller.
I think the average check size is going to be five grand instead of like the 11 that it was last time.
Yeah, so one, all the transparency that you see on the outside, we have even more transparency on the inside.
So for example, we have full open books so everyone can see all the expenses, see what we're spending and everything.
And we just are really upfront about all of the trade-offs in the business.
So we talk about this short-term versus long-term and what the effects are with compounding growth and everything else.
So I think of compensation in two different ways that kind of makes a quadrant.
So I think of short-term versus long-term compensation.
And I think of guaranteed versus performance-based.
So short-term guaranteed is salary.
Long-term guaranteed is like 401k match, you know, retirement.
Short-term performance-based is profit sharing and long-term performance-based is equity.
Okay.
And what I think that does is it makes this whole, like this matrix where it's all covered and you're taken care of in each way.
And the individual team member can get a feel for the trade-offs that the business is making.