Mike Minutes Mastermind 06/24/2024

Hello gustonation. Hope you're doing good. Let's go and get started. I'm not sending this out via text message because there's only a couple questions and I'm hoping that this Internet stays decent. My data has been dropping out so I'm not going to send them text out just in case it goes weird. I can re record this later once we get back to the airport. Mercy. Goodness. The bags under my eyes. Mercy. That angle is not appealing. Let's go. All right, let's hop into it. We are currently on a massive project. Hardscaping, landscaping and working out for nine months. $500,000 job. Very cool. Unfortunately, the business owner is in $500,000 worth of debt and $25,000 a month worth of payments on the debt.

And it's about a 1.5, 1.6 million dollar business. So we'll see if we can turn it around.

All honestly just massively underpriced and the owner's overworking like massively and can't his failing to delegate. He burned through a bunch of admin people so like he keeps holding on to everything. So anyways, that's kind of what we're working on today. Let's jump into this.

Boom. Share present.

All right, two questions. First one's from Mr. Anonymous. What are your thoughts on giving a GM a higher profit sharing percentage the longer they stay at their location or with the company? I'm Pretty sure most GM start at 35% profit if they start the location. But would you be willing to give more if they stay for three, four or five years? I wouldn't be willing to. I would not be willing to give more than 35% if someone started off at 5 or 10% because there's like a big location, for example, and they stayed for like five, six, seven years. I definitely would probably be giving them more.

But yeah, I'm not going to give more than 35%. Like honestly the math just won't pencil in if you do that in terms of owning the business. Like as the business is getting, you know, older, five, six, seven years, let's say, you know, because again, it scales. So like if you're, if the, if the GMs only gained 20%, well, the business is pretty decently sized. It should be kicking off a good chunk of cash and the further down it goes, it's bigger. So I'd just be focusing on like how do you double the profits? Well, usually it's gonna be your pricing and optimization and efficiencies et cetera so but if I was, if I had a GM that stayed at a large location like Bellingham for more than probably like three years, I would be giving them more just to incentivize them and constantly get them to think about profitability. But honestly, the only reason you give, you know, 25, 30, 35 is the fact that the location is smaller at the beginning and less profitable. And so they're, they're kind of putting a little bit of risk by not having as profit training at the beginning. And that's why I give them a bigger chunk. But yeah, I would only up someone's profit sharing if it was a big location that was like 10, 15% of profit they were getting and they stayed for years and started to manage the location without me having to be there. That that's probably when I would up their percentage. Joel, Lafayette, Colorado I think you've said in the past that Command center use P4P2. How does PPP work for command center reps? I'm curious how it applies to other roles and industries. Yeah, so we've raised base pay quite a bit at Command center in the past year, making it harder for them to hit PvP. Some do still, but less than I would like. It used to be like a lot of people were above their base pay and so in part because like a lot of the tasks at Command center require lots of training. And so it's kind of unfair to put people on PvP if it's like, hey, one or two days out of the week you're training on like QuickBooks, or you're training on how to read the financial, financial statements, or you're training on how to run P4P or you need to do like testing on specific full service tasks that they do. And so it would just demolish everyone's P4P and make it really, really hard for them. So some of the, especially the full service tasks, those ones, it's like, hey, look, we just got to figure out a good pay structure. And that's what we've done for people that are doing full service tasks because it takes so much training. That being said, we also give a higher percentage on P4P on something like Command center because there's not, there's less cost of goods sold in terms of materials and people aren't driving trucks and equipment around. They might have a, you know, several thousand dollars worth of software and equipment in terms of office hardware, but they're not driving a $50,000 truck and a $10,000 trailer and $30,000 of equipment around. So that's why in home services, usually I see people giving around between 20 and 40% of revenue. On PvP as a wide range, we give above, I think it's 50%, 50 to 60% at Command center, depending on their role on P4P. And so basically every single thing they do is getting tracked. And so we still do use efficiency scores. They still have bands of efficiency scores that they're supposed to be falling into. And that's something they track and they go over on their one on ones and it's like they have a lot of analytics around it. So very similar in terms of, you know, budget hours divided by clocked hours. It's. It's the same exact thing. So. Well, that's all we had for the day. That's why I didn't send out the text message. There was just those two questions. So later this week we will have the on the Dashboard, augustalights.com the ability for you to be able to put your location in there. Like I said, I mentioned the Facebook page. We have upped the designers for the month of July to make sure that if anyone wants their site made, we get it done in July. It won't take five to six weeks like it typically takes us. So we're working on that. I showed a demo last week. We're making several more improvements and then we will make that available on the dashboard. I recommend, if you're planning on doing any lights, just put that in there. It doesn't cost you any more. We're covering all of that and so there's not gonna be a charge for. For that at all. So I just recommend putting it up there. I know a couple people I talked to. They're like, I'm not sure if I'm gonna do like, I like, literally just put the site up there and see what happens. Like, you could get like 10 or 15 leads just because it starts to rank well towards the end of the year.

So that's what I would recommend doing.

And that should be available by end of this week. Cool. We are starting also in the next couple weeks to start bringing in Augusta locations into showcase reviews. We're going to do that slowly and not bog the system down like I did with Copilot. So you might get a notification notifying you that you are in that program. Just give us at least four to eight weeks here. We're going to feather everyone in and that'll be really cool. So looking forward to it. Hope you all have a fantastic Monday and a great week ahead. We'll stay in touch. Take care. Oh, and I look forward to Memphis this weekend. Let's go Saturday. We'll see you all there. I know, Nick, Liz and I from the leadership team will be there. Lee's on baby watch, so he's not going to be there this weekend, but looking forward to seeing you all take care.

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