41- What’s UP?? Summer 2015. Changing management, Costco, Chic-fil-A, and Minimum Wage.
Summer of 2015 was hard on us, but WE’RE BACK!! I hope you missed us. In today’s podcast we talk about how the wheels fell off for both of us this summer. Some good, some bad. This lead to a great discussion about managing a small business: do you work on your business or in your business…OR both! John has decided to take a step out, and let his team run the business without his constant input. Nick has had to go the other direction and be more integral in the day-to-day due to his field manager leaving. Both have experienced some new and interesting dynamics in their businesses. Then we went on to talk about minimum wage and how to best compensate employees. Some think raising the minimum wage to a liveable level is better, but we disagree. We believe that it is better to pay someone more based on the value they bring to the business. But businesses like Costco and The Container Store have have raised the bar, and have higher expectations on their employees, and so they just pay those team members more. You get what you pay for I always say. Look for a new podcast every OTHER week, as we are trying to set a feasible rhythm for the podcast moving forward. We have some good stuff planned (and we talk about a little of it), so stay tuned the the Fall Season of Small Business Naked.