- You know when you think about business,
it's interesting, and this same thing happens in baseball.
Is people look at history to strategize for the future.
And I think that's so silly.
What you want to do is you want to look at what's gonna
happen in 10 years, and where do you want to be in 10 years,
and then reverse engineer it and put a plan in place
to move forward.
Especially in 2019, where things are moving
at such a fast pace.
Then when it comes to your team,
we bring in great young people from around the world
to work for us.
People talk about alignment, and let's make it clear,
the only alignment that counts is economic alignment.
If you get that right, then social alignment
and there's a million things that go underneath that.
There's three ways that we like to bring our people
to work together on our team.
There's three bonus structures.
Number one, there's your salary.
Number two, there's your unit goal,
what group you're in and what the mission was
of that team, and did you accomplish it.
And number three and the most important goal,
is did the enterprise value of a company go up that year?
Now, that trumps everything.
If it goes up that year,
it can be up to 30 or 40 percent,
if it goes down that year,
there's a negative result to that bonus
of 30 or 40 percent.
So when you have this collaborative idea
that 85 or 90 percent of your goal
goes around if the team wins or not,
then people from different groups will actually call
each other and work together and help each other out
all the time.
I think a lot of young entrepreneurs have an incentive
package that actually works against your company.
I urge you to kind of think about how are you incentivizing
your team, are they completely aligned with you?
Is player A and player B still working together
for the same holding company to grow it to the top?
I think that's super important.
It's been helpful in my organization.
- That's great.