Did Someone Say Bucket?

[ Blackboard Fridays Ep. 116 ]
by Jacob Aldridge Published

It's fairly true in life that you only get out what you put in. But when you're starting or growing a business - especially with business partners, though even just for your family or for yourself - how exactly do you make sure you are all evenly rewarded for differing contributions?

Take a common example - where one partner pours in the start-up capital a business needs, while another dedicates their full-time labour. Is it 'fair' that both receive the same salary? Or no salary? Or 50/50 dividends?

(Trick question. Life isn't fair. Make it unfair to your advantage. But I digress...)

In this week's episode, structure and partnership expert John Knight addresses this challenge through a cracking Bucket analogy. With everything going in - and coming out - of your business, this is a simple concept that help you realise the best way to make sure everyone is rewarded for their contribution while also supporting the business on its onward journey.

How is your bucket built? And are there any holes in it?

Enjoy this week's episode here.

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Jacob Aldridge
read more by Jacob Aldridge

Over the past 12 years, more than 300 active growth businesses in Australia, the UK, and Asia-Pacific have worked with Jacob in his role as an international business coach, partner and advisor.

As the Head of Advisory at businessDEPOT, Jacob continues to work one-on-one with SME businesses and directors, while also leading the development of our Strategic Advisory services across Workshops, Group Programs, and Online business guidance.

Jacob's alumni clients and those who have attended his presentations describe him as the smart and quirky business guy who makes genuine change happen. He brings business experience that impacts both profit and valuation, plus a unique energy borne from the belief that business is best when it's fun.

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