Focus on a fantastic plan for retention of key people.
Everybody needs hope for the future, the hope is not for more training. The hope is for more money. Lay out a plan to make more money and we will keep them long run. Don’t be greedy and try and keep extra for yourself.
We should find non-monetary forms of incentive whenever possible: being a great fun boss and good person helps, giving titles and a path forward helps, variety of work duties helps, training helps. But people work for money.
If we have people who are intelligent and creative, have a lot of experience inside of coalition, and we can motivate them as we are motivated, we will have a billion dollar company.
If our employees can fairly easily make more somewhere else, they will leave.
I know very few people who are making top incomes whoever switch their jobs even if they lose all other forms of motivation.
Motivation comes and goes. Even professional athletes who live what they do almost always say it just turns into a grinding job after time.
People will even stay in difficult or boring or otherwise bad jobs for money. And they will perform at a high level if their pay is tied to their performance.
Don’t set yourself up as the ring master. Having only one person with the motivation to drive things ahead is a dead end. Do you want to be a slave to the business for 30 years? And even if you did, the company would not grow as much as if you fully capture people’s motivation through capitalism.
Our most loyal people deserve the best rewards.