Employee Profit Sharing, Referral Commission & Hourly to Retainer

Is employee profit sharing a good idea? In this episode of Ask Swenk, I answer your questions about if and how to compensate clients for referral business, how you can convert a longtime hourly client to monthly retainer and profit sharing for your team of employees.

{1:58} Geoff asked: “What are your thoughts on profit sharing for key employees?”

{4:50} Ryan asked: “I know you’ve talked about sales people and compensation before but, what about referrals? Flat fee or percentage? One time or for the life of the project/client?”

{7:28} Kirk asked: “I have a great client we do work for at an hourly rate — this is the only client we have like this. We want to transition that client to a long term contract for a flat rate. Any suggestion on the best way to have that conversation about making the transition?”

Improving Your Agency

To bring your agency to the next level, finding ways to improve is always important. Through my years of experience, It’s allowed me to provide advice on many topics from the struggles you may face with failing economies and recessions to how accepting a speaking opportunity can create business and the four phases of growth you may experience within your agency.

Want extra help in taking your agency to the next level and sell your agency for a larger profit? Or want to become a better agency owner?

Learn more about me and my experience and find lots of tips, tricks and insights by reading our blogs that cover a wide variety of topics!

If videos are more your thing, don’t worry, i’ve got you covered! Check out more from my Ask Swenk series and more of my videos on my Youtube channel. There you will find advice from myself and other agency experts.