How Profit Sharing Can Help Your Small Business Win

💡 Want to boost your team’s motivation and business growth? Profit sharing might be the key! By sharing a portion of your profits, you can inspire your employees to work toward common goals and drive long-term success.🏆

Ready to learn how to set it up for your small business? 👉🏼 Watch the full video now to find out!

#ProfitSharing #SmallBusinessTips #BusinessGrowth #TeamSuccess #EmployeeEngagement #BookkeepingServices

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🎥 CONTENTS OF THIS VIDEO

00:00 - Intro
00:19 - What is Profit Sharing?
00:44 - Why Profit Sharing Works for Small Businesses
01:29 - Common Mistakes to Avoid with Profit Sharing
01:34 - Focusing on Short-term Profit
02:15 - Not Setting Clear Goals
02:46 - Adjust as Needed
03:19 - Steps to Implement Profit Sharing in Your Business
03:24 - Step 1: Understand Your Numbers
03:51 - Step 2: Set Clear Goals
04:07 - Step 3: Celebrate Success
04:19 - Step 4: Review and Adjust Regularly
04:31 - Examples of Profit Sharing Structures for Small Businesses
04:39 - Equal Profit Sharing
05:31 - Tiered Profit Sharing
06:31 - Goal-Based Profit Sharing
07:40 - When to Pay Out Profit Sharing
07:45 - End of the Fiscal Year
08:01 - Quarterly Payouts
08:22 - After Major Milestones
08:44 - Ensure Cash Flow Stability
09:20 - Key Takeaways

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🔗 MENTIONED IN THIS VIDEO

► Avalon Accounting
https://www.avalonaccounting.ca/services

► Employee Gifts - CPA Shows You How to Avoid Costly Tax Mistakes
   • Employee Gifts - CPA Shows You How to...  

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Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada.

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