Patrick Shaw
๐ค SpeakerAppearances Over Time
Podcast Appearances
I mean, we've got to focus more on profit.
We focus on growth, and so I spend all the money all the time, right, instead of focusing on profit.
So we're going to adjust this a little bit, but we have an intranet, and in the back of the intranet, they can go in, and their rapid shares, which are vested and non-vested,
The rapid shares are 50% based on the company's growth and 50% based on their commitment to the quarterly ROC, not the execution or completing the ROC on writing a proper ROC.
And in the link, you'll see under ROCs, there are eight criteria for writing a proper ROC.
And the last step is you have to get the sign off of the executive.
That's it.
And then they read it every week.
We never have to worry about execution.
because they're verbally committing every single week over the quarter to here's my rock, here are the milestones, here's what I commit to, and then rapid shares are tied to it, which is literally, it's just a bonus program, but it's literally tied to the value of a share, and they know it, because they can see the growth of the company, they know how many outstanding shares they are,
We multiply that number by two and we, we, we, um, we divide by the, by the outstanding shares and they know.
So every share is like right now we're seven bucks and, you know, depending on where they are in the world and what they're doing, they, they, they receive shares.
So anyway, that's a explanation of it.
Yeah.
Shares are impossible really for us, true equity, because we're in nine countries.
I don't even know how we'd be in like real equity.
So they trust the company anyway, and we pool it and we escrow money to make sure they can cash out.
So twice a year, anytime they need to cash out of shares that are vested, they can do that anytime and they see how it's growing.
Now, they don't like to cash out because the company's growing at least 30% a year.
You know, so they look at that and they're like, well, I don't really want to cash out and I completely trust the company again, culture matters, right?