A quick ad before we jump in:
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Tax season has come and gone and my final income tax bill was $0 for one main reason – Cost Segregation Studies and bonus depreciation.
DO NOT FORGET TO GET COST SEGREGATION STUDIES DONE ON YOUR REAL ESTATE. The folks at RE Cost Seg have already delivered my cost segs this year and the depreciation is mouth watering. Reach out if you’re in the market – the proposal is free.
Professional engineering reports you can count on, and they do virtual visits to turn them around even quicker.
Not sure what a cost seg is? Check out this thread.
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Company culture isn’t beer pong tables and early Fridays. It goes much further. 10x employees want a certain type of work environment.
Let’s talk about how to make sure your best employees are happy and your organization can attract more of them.
- Tolerating incompetence
You get more of what you tolerate.
And your A players will leave if you surround them with people who can’t get shit done.
If you tolerate incompetence, it breeds in your organization and the best people leave and the incompetent people get comfortable.
Your top performers will have a stressful job if they can’t trust their co-workers to deliver on their tasks or if they spend a lot of time going behind them cleaning up messes.
Hire fast, fire faster.
This is a classic case of addition by subtraction. You can get really fire by adding amazing people to your company, but the positive effect that comes from removing a poor performer or a bad actor can often be equally or even more drastic.
- Making slow decisions
When an A player comes to you with a recommendation to make their life easier, act quickly.
Nothing kills productivity more than a manager who refuses to move quickly.
A bad decision is better than no decision at all.
- Gossip
Gossip kills companies like an infection from the inside. It is contagious and habitual.
Do not allow it.
Gossip is a dark cloud that hangs over your company and makes everyone grumpy, upset and uneasy.
When you catch folks in your company gossiping and talking negatively about other people, make a statement that if they do it again they will be terminated.
- Customer throne mentality
The customer isn’t always right and we live in a day and age where a good portion of people out there try to save money by abusing businesses.
Fire customers who mistreat your employees.
Build a company strong enough and a sales funnel plentiful enough to tell these folks to eff off.
You don’t need to do business with jerks to survive and you will not throw your employees under the bus constantly when customers are being irrational.
- Asshole tolerance
People in positions of power often turn into manipulative assholes.
Get them out of your company no matter how competent or valuable they are.
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Reminder:
On June 20th (tomorrow) I’m co-hosting a free online workshop with my friend and CPA Mitchell Baldridge on the topic of small business taxes. Sign up here.
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A few thoughts before we close out:
Thought #1:
The mortgage on my house is an asset, not a liability.
2.9% fixed for 30 years.
Paying it off would be a silly mistake.
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Thought #2:
Real estate folks are lazy.
If you compete agains them coming from a smb or tech background you can run circles around them.
The problem is that they’re all rich and hire people who aren’t lazy.
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Onward and upward,
Nick
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They’ll get on a call with you and basically give you a free 30 minutes of consulting and a game plan for your website during the sales call. I recommend setting up a call with Bold SEO and getting the process started.