The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
So what we do with you, and this is what every entrepreneur can do, is we figure out first and foremost, where are we trying to go?
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
So what is our revenue we're trying to get?
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
What are our margins?
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
Who's our target customer?
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
And then we figure out that what are all the activities we need to do to make that happen?
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
And who are the people that do the activities to make those things happen?
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
From answering the phone, in your case, editing, all those things, they are the people within your organization that play a role.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
So then the question I always ask people is, okay, here's what you want them to do.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
How are you compensating them?
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
And what I find out is the compensation is almost never in line with the incentive.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
And then they wonder why are they not doing the activities they want because they're not rewarded for doing that.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
So what you have to first do is figure out the strategy, figure out what you want from that person.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
And then you need to structure compensation and bonuses as incentives for them to be able to do that.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
And there's two components I use with every business, including our own.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
First of all, KPIs, we've been talking about this, key performance indicators, like what are the activities that you need this individual, individuals, and they're usually different, to be able to do to get you towards that goal, because everyone's playing in a role to getting there and they should know what their role is and what that ultimate goal is.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
So that's one thing.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
And that's an individual.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
So your individual should be reported or rewarded based off of his or her own contribution.
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
So if you've got someone who's crushing it, they're doing their part,
The Shawn Ryan Show
#267 Rob Luna - 50-Year Mortgages, Government Band-Aids, AI Job Cuts and the Middle Class
But Joe's asleep at the wheel and sucks and has got family problems, isn't showing up, doesn't want to work.