Bro sounds like an AI robot 💀

@zackeryholtz5569

16 күн бұрын

A lot of leaders actually have autism. Elon musk, even my friend that has started a business is high functioning.

@karinagrossl8235

9 күн бұрын

RIGHT???

@yws4645

6 күн бұрын

No, he doesn’t

Sheldon Cooper runs a business 😁

Say what you want about how he sounds but the words he speaks tells me he’s a small business owner trying to do everything he can to make sure (one of) his most employees is paid accordingly

@SteeleUrMom556

7 күн бұрын

Fr

Sounds like a great boss/owner tbh

@CobbyLouis

8 күн бұрын

He genuinely wants to compensate a valuable employee fairly.. hope they find a good resolution

I see no issue with an employee getting a higher salary than the owner if the employee is worth it. That employee has no ownership stake in the company unlike the owner(s). If he is worth it, keep him if you can. I just don’t know if any upper management is worth it but I don’t know what this company even is from this short

@keiton9512

19 күн бұрын

That's exactly right. The owners have equity in a company they can always leverage. If the guy is as good as they say he is, he's likely worth the extra 20k.

@playea123

19 күн бұрын

@@keiton9512 it would be just an ego move to let a guy that essential to the business walk just because you don’t want his salary to be higher than the owner

@aularje

18 күн бұрын

If the guy Is so essential for the business, why they arent on higher profit margins?

@playea123

18 күн бұрын

@@aularje businesses go through different phases. What it the only recently started?

@HH-le1vi

18 күн бұрын

Unless you know what they do you can't say that. Some businesses are very low margin depending on the industry. ​@@aularje

Dude that pays his employee more then himself is passionate about his business

@curtisjohnson2433

16 күн бұрын

Or the employee is the only thing keeping ur business afloat

@t0xic661

16 күн бұрын

@@curtisjohnson2433thats how everything is. The employees run the businesses. The people run the country. The soldiers run the army. Etc The leaders are the servants not the other way around

@bleeb1347

15 күн бұрын

$60k salary in 2024? Brokie

@mitchell10394

12 күн бұрын

@@t0xic661yeah… fuck no. Sounds like you think the businesses are usually just taking advantage of people. Fact is most employees are usually pretty useless. 20 percent do 80 percent of the work.. and in a new business the business owner is almost always carrying the majority of the load.

@dlstb

11 күн бұрын

​@@bleeb1347it is a tax play... The guy makes a modest salary that suffers fica taxes, then he takes quarterly profit distributions and the company pays his tax bill because he is being taxed personally on the business's income. I'm betting he makes more than 60k. Maybe 2-3 x as much and pays less in taxes than a wage earner making 100k

My dad started a construction business 40 years ago with no money. He had 3 people who worked with him and he paid them more than he took himself home. He bought them vehicles and over time paid for their houses. Today those 3 practically run 50 engineers and 1500 labors while my dad sees the finance and billing. They have been offered jobs by other people and they used to say "I'm sorry you cannot afford what our boss pays us." I used to wonder why my dad is where he is and after joining the business I understand that as a business owner if you don't compensate the people properly, you'll end up doing all the grunt work rather than having their support. Even today he refuses to bring more than he needs and gives the excess profits to our employees and they would take a bullet for my dad. I guess I'm sharing this because I feel very proud of my dad's vision and his need to make sure everyone around him is paid for their efforts. As I grow older I turn more and more grateful for having a dad like him as my role model.

Give him a incentive bonus based off profit margin percentage and give him company perks (car, parking, company card, free lunches. Etc)

@Dominiricanation

17 күн бұрын

This right here. way cheaper than 20,000 a year.

He sounds like the Martian from luney toons lol

$80 is too low. Keep base $60, bonus of $15k if maintained 2.75m and net at 300 maintained and then any growth 20% of above $300 btm line for yr one and a further 5% then another 5% after yr 3 then yr 5... Becomes a partner at circa 30% of btm line after 5yrs assuming growth

Anyone saying he should just know, i work at a large corporation, and no one really understands compensation well. Increase the wages, bonus out for achievements, and if the person is a superstar, a slice of profits. I would also potentially ask if they want to buy into ownership. There are a million other good ways to go about this.

See a lot saying $80k is too low for upper management, meanwhile the owner is getting $60k. Obviously the manager here is a key asset for them maintaining this business, but there’s only so much money to go around. If the manager can increase the profit margin by 5% then throw him a raise until he gets closer to a salary you feel he deserves

@Clevelandsteamer324

18 күн бұрын

It’s poverty level. $100k is impossible to live on these days

@Peglegkickboxer

17 күн бұрын

​@@Clevelandsteamer324 100k is absolutely not impossible, it's very good in most states. Obviously if you're in the big four states 100k doesn't go as far but you can still survive without issue (maybe not thrive or live in some sort of luxury).

Sounds like this guy truly cares about his business and keeping employees happy! I hope he is able to figure things out.

He may have used AI to disguise the callers ID or the caller spoke with a heavy accent.

@anthonyreynolds2365

19 күн бұрын

It's French Canadian. I saw it and he called from Montreal.

Sounds like an owner who actually cares about employees

He cares. That is rare.

Cash bonus based on effort speaks volumes

This is the first time I've heard someone talk and thought to myself, his wife is cheating...

Heaven forbid we get an answer

What's the answer? All you've done is pose a question.

@moneer7139

22 күн бұрын

It's obvious, you shart in his dinner

@RLang03

22 күн бұрын

For a real answer to your question; Dave mentioned how he should take a top down look at the company’s current and future revenues and then shart in his dinner

@robertweekley5926

22 күн бұрын

The life of "KZread Shorts!" Long drawn out question, with lots of Fluff, little Meat! Dave had to patiently wait, before HE could dig up some useful data! ... Time's up! 😡

@stirch9

22 күн бұрын

you click the link just above the bottom title and watch the full video.

@isaiahthemack8892

21 күн бұрын

Maybe if you watch the full video you’ll find the answer your looking for…🤦‍♂️ that’s the point of these shorts is so u can go watch the full video if your interested it’s pretty smart since you’re less likely to watch a video if you’re not already intrigued about it

Asking Dave how to compensate leaders tells me this guy knows nothing about compensation.

Why bro sound like Mark Zuckerberg ai voice 😂

Anyone with “director” in their job title doesn’t do anything

$60,000 a year is literally assistant manager at McDonald’s money

@dlstb

11 күн бұрын

Or.... It is a way that owners of S corps lower their fica taxes. 60k may be the man's salary, but I'll guarantee he has a company car, uses company fuel, takes profit distributions, and pays his taxes with business profit. There are several books on this if you want to know more. Profit first is a good place to start. Dave isn't the only guy writing books.

sheesh. you might as well sell it to him and work for him, you'd make more money.

@ajjohn8729

22 күн бұрын

They get 120k a year and have someone else run their business. I'm betting they won't have to work much

He needs to find a way to make that process more streamlined and less cumbersome for the guy with the many hats. Take the 20k and hire entry level people to take part of the onboarding process or clerical work out of his plate. This should increase productivity and grow the bottom line while making it more bearable for the multi-hat guy.

80k for upper management is crazyyyy you better get him to the 120-140 mark 😂

First step why are we only mkaing 360,000 profit, whats the path to 1 mil in three years or less, what is the path to 10 mil in 3-5years.

@AdamHarte

10 күн бұрын

The first step is to pay your current staff. Then make more plans

Is this a prank phone call using an AI voice? 😂😂

This is the kind of question all business owners should be asking. If you know someone is worth their salt, then pay them accordingly. Find delima in not being sure how much money is acceptable, instead of worrying about how to screw over as many employees as possible

If the company knows its total "Wage Expense" isn't there some "Formula" that can be calculated out, from similar sized Businesses, and "Glassdoor" job offers/pay scales? IE: "Wages, Total = $500,000/Year; 20% for CEO/Owner; 15% for Managers, 10% for Supervision; 55% for All Workers. (Just "Spitballing" here, a Spreadsheet will help, in tweaking, depending on available and current work tutles, positions.)

@anniehope8651

22 күн бұрын

That was what the caller was asking for. Some kind of guideline.

@Kremithefrog1

20 күн бұрын

It's not that easy but not a bad thought. Guidelines aren't fair just based on position. Performance based bonuses are drivers.

It looks like there isn't enough meat on the bone left to maintain 3 top wages, especially if the owners are stepping back. I'm imagining that until now the managers wage was factored into operating costs but increasing the wage (plus hiring someone new to replace some of the jobs that owners or old manager used to to) does start to eat into the profits. A few options are possible: Structure a management buyout where this guy slowly buys you out over the course of 5/10 years and then you stay in the shadows as a minority stakeholder (say 20%). Outright sell and run for the hills. Keep him as purely salariednor salaried plus incentives but you need to stay more involved and risk him being poached as he has no stake in the company.

Dude doesn’t know wages. An average not great accountant makes $80k. Someone running the business is 6 figures

@Immigrantlovesamerica

20 күн бұрын

Dumb comment. It’s all relative. An accountant in Iowa could make $40k. A CEO can make $50k if that’s all the margins alllw for.

@kyleolson9636

20 күн бұрын

​@@Immigrantlovesamerica For a company to be successful, it needs to be able to pay people what they are worth in the marketplace. If the margins won't allow for that, they haven't found true market fit for their products or services. If they cannot afford this person's market rate because they are using their profit to grow the company, they should be providing an ownership stake. 10% ownership in the company vested over 4 years would be worth about $40k per year (with an industry standard 4x multiple on net profits). Just go with that if you cannot afford adequate pay up front.

@joshj3354

20 күн бұрын

An accountant in Michigan just starting makes $45k that's what I get and was the best pay around

@allegorx58

19 күн бұрын

this comment 😂 do they just not teach logic or reasoning in schools anymore?

@joshj3354

19 күн бұрын

@@allegorx58 straight tripping lol not to mention that 300k in profit could be split between em after they already bought everything they needed to reinvest and upgrade the company and it came off the top as expenses

Show the damn answer!!!

With money bro

How do you do 2.75 million in net profit and only come out with 300 grand

@akshaykamat7256

19 күн бұрын

2.75M is revenue, 12-15% profit margin on revenue getting the profit amount around 300K

“Upper management “ only making 60k? Sounds like you fluffed up a position to give him salary so you no pay overtime. My helper makes that. Pay more but pass it on to the client.

Elon is that you

That question sounds like AI

Too lo

This is an AI call

Probably an S corp pay him a bonus out of the portion of the profit you split up at the end of the year. Buff up his benefits do a contribution into an HSA or provide him a better benefits package as well to help him save monthly and keep money in his pocket give them a gas card and buy lunch and coffee all the time then write that off as a business expense

Sounds like a poorly run business

Shitty margins…

so in this situation... he should've laughed and said no but i follow him too. I just got a sticker from him. don't sdmit to shit. ppl self snitch bc of that loose tounge & not realizing what people are REALLY saying.

That’s not a human

I dont accept anything less than 6 figures. Know your worth

Well, you’ve already been underpaying him for years sounds like he needs a raise to 100,000 and probably a $20,000 bonus for every year would be sufficient since you make almost 3,000,000 a year

@robertweekley5926

22 күн бұрын

Make? He said "$60,000 a Year" was his pay, as Owner! Make, isn't Revenue, it's Net after Expenses! You could separate Net prior Wages & Benefits Cost,for a different look, but, it's a Short, so we heard next to nothing!

@robertweekley5926

22 күн бұрын

$300,000 was Dave's Figure, anyway, so, how many people work there? Does the rest work for Free? Doubt it! An, the Business has to "Keep" some of the Cash, for Reserves, and its own "Profit!":

@coryalgra182

22 күн бұрын

Yes, if you’re an idiot as an owner, you pay yourself 60 but when you own the company and you make 2 to 3,000,000 a year it’s an account for you to receive later or am I stupid or are you stupid? I’m confused right now as an owner, you get your money in the end as an employee you get paid from the owneror maybe I’m wrong again somebody please clarify for me. Your employees make your money pay them or you are a loser.

@webfreakz

22 күн бұрын

I think it was 3M revenue not profits

2.75 million. And profit is 12% 😂😂. Close up shop and get a hourly job

That means he writes himself a pay check for 60. He keeps and invest the rest. And he also gets all the dedications and is able to get loans and purchases off the business. So 80 is not paying him more. And if he shows him being paid more then the owner he will get audited. That's why it has to be paid in a bonus. And what business is only profiting 12 percent off of 2.75 mil. That basically means thus man pays no taxes for sure. But not hating at all that's a good thing and why u start a business. But if someone is basically running your business for u I would try to hit the 100k mark in this economy. And maybe he can help u figure out how to do better then 12 percent

Why ask this guy?

No way that’s a real person

Mf sound like the bad guy from spiral lmao

Pay him minimum wage. Give him a gift card to McD's aa a bonus.

is that elon musk 😭😭

Too bad this post taught us nothing. Gabe us zero advice, and we still engage.... lame content

So what was Dave’s answer? This clip offers no value whatsoever…

Ramsey shorts are shit. Too short without a link in the description full video. C'mon guys! About to unsub

You give him the promotion...and then you fire the veterans under him and bring in cheaper personnel with less experience. Let him train one of the guys to his level or close to it. Business will take a slight hit initially but it wont plummet. But then you blame the overseer for being in the red, even tho its not his fault. Fire him, and then hire the trainee to take his spot for 60k and rinse and repeat..that way you still make your money, and you maintain your cap on personnel pay..welcome to America.

@1BYEBYE1

22 күн бұрын

Sounds like you've never ran an actual successful business.

@nygelwalker9162

22 күн бұрын

@@1BYEBYE1 this was satire. Overly exaggerated and not meant to be taken seriously. Plus I own 3 rental properties and counting. My business runs just fine. Self check yourself before coming for me.

Thats a canadian

Answer: more than that lousy salary!

@Culperrr

21 күн бұрын

Lousy how? The CEO makes the same amount, lol.

Stop paying him and hire someone new for less. Bonus points if he will sign an non compete before leaving