Profit Works: Unravel the Complexity of Incentive Plans to Increase Employee Productivity, Cultivate an Engaged Workforce, and Maximize Your Company's Potential

by Alex Freytag, Tom Bouwer

Overview

Profit Works will help you unravel complexity!

With Profit Works, discover how to create a simple and effective incentive plan with practical engagement tools to amplify your vision. The longer you delay, the longer you postpone profit. Simplicity and clarity attract talent and high performers.

It's time to start maximizing your company's potential!

Profit Works helps entrepreneurs design an incentive plan that teaches a No-Entitlement Attitude to your team. I strongly recommend this helpful guide for entrepreneurs who want their employees to think and act like owners!

- Dan Sullivan, Co-Founder and President of Strategic Coach(R)

EOS Implementers(R) Tom Bouwer and Alex Freytag are lifelong entrepreneurs who are passionate about helping business owners get what they want out of their organizations.

Each year, a Clarity Trip(TM) allows them not only to strengthen their business relationship, but also work ON their business, usually while hiking in a remote location. This helps them remove complexity and keep their lives simple-the key to success.

Product Details

ISBN-13:	9781647464486
Publisher:	Author Academy Elite
Publication date:	10/15/2020
Pages:	158
Product dimensions:	5.50(w) x 8.50(h) x 0.37(d)

About the Author

Alex Freytag is the product of an entrepreneurial household. He has spent much of his business experience focused on his passion for being a hero to entrepreneurs. Between selling handmade James Dean t-shirts out of his locker in high school to becoming a Certified EOS Implementer, he has run or helped run five growth-oriented businesses before discovering the Entrepreneurial Operating System (EOS). Drawn to EOS's simplicity and effectiveness, Alex has since devoted himself to helping others master this complete "way of operating" an entrepreneurial organization to help them get what they want from their businesses. An author and a sought-after speaker, Alex entertains, educates, and has introduced EOS to thousands of business leaders worldwide. Alex resides in Columbus, Ohio with his wife, Christine, and their three children. He enjoys traveling, hiking, golf, scuba diving, and reading for pleasure.

Tom Bouwer, co-author of What the Heck is EOS?, has a passion for helping people get what they want from their businesses. To fulfill that passion, he helps entrepreneurs and their leadership teams simplify, clarify, and achieve their short-term and long-term goals. In addition to starting and running three of his own companies in Turkey, Tom has worked with a diverse range of companies from start-ups to Fortune 50 companies. His 30+ years of global management and coaching experience help him quickly identify and then assist leaders in solving issues that keep a company from achieving optimal success-with the entire organization advancing as a cohesive team. As a speaker, teacher, facilitator, and coach, Tom spends his time helping leadership teams implement EOS in their companies and delivering keynote addresses to audiences around the world. He is a Certified EOS Implementer(TM). He earned his BA from Hope College and MBA from the Fuqua School of Business at Duke University. When not helping clients, presenting workshops, or delivering keynote addresses, Tom is most likely hiking in the mountains, traveling the world, or chopping wood at the lake.

Table of Contents

Introduction

Chapter 1 - Why Profit Works

Chapter 2 - Building a Foundation

Chapter 3 - Incentive Plan Mistakes

Chapter 4 - Design Options

Chapter 5 - Payout Options

Chapter 6 - Teaching Employees How Profit Works

Chapter 7 - Tools to Create Just Enough Tension

Chapter 8 - What's Next

Appendix A - Mindset Scorecard

Appendix B - Sales Departments and Incentive Plans

Appendix C - Incentive Plans in Scary Times

Appendix D - Recommended Reading

Acknowledgments

About the Authors

Editorial Reviews

At Strategic Coach, we have what we call a No-Entitlement Attitude, which means we believe that you need to create value first before you receive any reward. Profit Works helps entrepreneurs design an incentive plan that teaches this attitude to your team. I strongly recommend this helpful guide for entrepreneurs who want their employees to think and act like owners! - Dan Sullivan, Co-Founder and President of Strategic Coach(R)

I loved this book. It's an incredibly simple and practical guide to profit sharing and incentives. It's customizable to your organization with great take-a-ways! A must read for any entrepreneurial organization. - Gino Wickman, Author of Traction and Entrepreneurial Leap

Profit Works definitely falls into the "I wish I had this years ago" category of a resource that would have been incredibly valuable to my CEO peer group members. A must read and reference for ANY owner/CEO who wants to drive performance in their company. - Larry Hart, Vistage Chair (Retired)

I wish I had this book for the previous companies that I owned. We spent a tremendous amount of time trying to figure out a structure for incentive plans and when we finally got it to work, it changed our business. Nearly all of my EOS(R) clients ask the question: "Is there a model for a great incentive plan?" and now there is. Great work, and a very simple read. I will be purchasing this for all of my clients. - Coach Bob Shenefelt, Professional EOS Implementer(R)

We have a good profit-sharing program in place with measurables reported weekly. It feels like an eternity ago that we made Mistake 5: My Incentive Plan Is Disconnected from day-to-day jobs! We have come a long way since those days of giving out bonuses during the holidays that were disconnected from performance-driven rewards. I highly recommend all entrepreneurs read Profit Works and follow their simple formula! Sharing profits with my well-deserved work family is fun and the favorite part of my job. - Sandy King, President of Symbiont Service

Profit Works reveals a simple and practical way to implement incentive plans in your company. Too many entrepreneurs get stuck here because they can't connect the incentive payout to a unified and collective increase in productivity. This book and its tools provide everything you need to avoid the pitfalls of becoming one of those business owners. I'm recommending the Profit Works method to all of the teams I coach. - Jill Young, Author of The Advantage Series books and courses.

The great balancing act of creating a challenging, motivating, safe and exciting work climate and culture is a task all leaders take on as elemental to success. Profit Works shows the reader how to practically approach one of the tough parts of this balancing act: getting a really good incentive plan in place and implemented. This book shows how to avoid the common and even many of the advanced mistakes in the design and execution of incentive pay. Do yourself a favor and use all the ideas in this book you can. - John Schuster, co-author of The Power of Open-Book Management

Simple and effective! Step-by-step clarity for employees and entrepreneurs. Please do yourself a favor: don't implement a bonus program or incentive-based pay until you have read this book! Use an earned compensation plan instead! - Don Sasse, Certified EOS Implementer(R) at High Country NW

From the Publisher