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"We think that we are providing benefits to somebody and incentives. Actually, we're creating little fires and warring factions." - Kevin D. Monaghan Most organizations incentivize key employees with creative pay & perks like equity splits. Better pay + better benefits = obviously happy employees who stick around, work hard, & grow the company. t's easy and great math, except for the fact that it doesn't work. As Kevin can speak to personally, equity splits often produce arguments, jealousy, and resentment. Key employees are left at risk. It's a tough pill he was forced to swallow, sleeping on the floor of a 9'x9' apartment, rebuilding his life after losing everything to a work "family" who promised him the moon & then burned him badly. So, what's the alternative to splitting equity & keeping good people? Kevin knows now, & he's on a mission to tell the world. Check out IntuitiveCompensation.com for more info & download his FREE book at BucketsBook.com.
This week we've got Kevin Monaghan. Kevin is Founder of Intuitive Compensation Group, a company that teaches business owners how to protect, incentivize, and compensate key executives. Kevin and I talk about Broadcast Selling and how it can be used to grab market share and the concept of Super Producers as one increasing value to not only business, but also to the employees and to the customers. We also talk about unleashing the Super Producer in you.Connect with Brian on Twitter, LinkedIn, Instagram or FacebookLinks:www.intuitivecompensation.comBook Links:Rise of the Super Producers: Introducing Broadcast Selling: The Scalability of Professional Services by Kevin Daniel MonaghanArt of Seduction by Robert Greene
Do you ever feel invincible? I used to feel that too and was living a very happy and fulfilling life with purpose before there was a pain I started feeling. And that was just the start. This episode is a little different and instead of interviewing a special guest, I'm the one being interviewed. In this episode, my very special friend, Kevin Monaghan joins us and interviews me on the "Fear Of Becoming Decrepit" which I got while being operated on for an Ostomy, which is a surgery to create an opening (stoma) from an area inside the body to the outside. The last months have been tough and slow but I see a light of hope at the end of the tunnel and I'm back stronger than ever. This is the first part of the two-part interview and we discuss what I went through and how everything started. When I first noticed that I needed help and the fear of becoming decrepit came into my mind. We also went through the procedure, how everything went with the doctors and how was the recovery process like. We also discuss topics like mortality and how much less time we have on this earth. This, and a lot more in the episode. Join us in the discussion. A bit about me (Dr. Orest Komarnyckyj): Dr. Orest Komarnyckyj enjoyed a prestigious career as a periodontal regenerative surgeon moving to a new passion in June 2018. He retired after a 33-year career to pursue new passions. At 69 Dr. Orest has taken on a new role as an Interviewer, Podcaster and government-certified Old Guy. He streams from his new home in Las Vegas, NV. He lives with his wife of 29 years, Oksana. His status as an empty-nesters with two out of college-employed children has left him with time and energy to share decades of successes, failures, and wisdom. Go to www.thestandard.academy/getmagazine to become one of the first to get my digital magazine for free that'll help you create a kick-ass life. Timestamps for the episode: 00:00 - Precap 01:05 - Intro 02:17 - Guest Introduction 04:26 - How was your life before you started noticing pain? 06:02 - How it all started 08:16 - What's Diverticulitis? 10:20 - Talk about surgery 13:50 - The procedure 14:50 - How do you feel before going into an operation like this? 16:30 - Why I fired the first doctor 17:30 - The two sources of pain 18:50 - The Diverticulitis pain 19:48 - Commercial 20:23 - Commercial ends 21:30 - Interesting hospital beds 24:00 - The day of surgery 24:40 - When did the fear of becoming decrepit kick in? 30:00 - Did the embarassment make you feel isolated? What were you feeling? 30:44 - Confronting mortality 32:30 - What was the bigger fear? Becoming decrepit, or dying? 35:30 - Did you feel like a burden? 37:15 - Did the fear of becoming decrepit make you want to try to be normal more than ever? 39:08 - Share 40:19 - Outro
Ken is joined on the line from Galway by Kevin Monaghan, Setsmad, to speak about the upcoming Ceili weekend 24th-26th May Film director Sean Murray, Unquiet Graves, gives Ken a ring from Belfast to chat about the North American Premiere 29th and 30th May in Toronto Des calls in with the news from Ireland from beautiful BC
Kevin Monaghan believes that leadership is about relationships; about pouring strength into others...and he takes the time to rock out with a band, The 412 District! For more info: Kevin.monaghan@sparksd.orgThe 412 District: https://www.the412district.com/Sponsor: https://www.udemy.com/raisingleaders/ See acast.com/privacy for privacy and opt-out information.
In the past, the term “golden handcuffs” was used to refer to the financial incentives employers offered to key employees to encourage them to stay with the company. And today, with so many businesses competing for top talent, you have to wonder how many businesses are using this technique and whether it's successful. Kevin Monaghan, owner of Intuitive Compensation Group, is back with us on this week's episode of unsuitable on Rea Radio to talk about the concept of golden handcuffs and whether or not they help or hurt employee retention. If you haven't had a chance to listen to last week's episode with Kevin, we highly recommend it – especially if you own, work in, or stand to inherit a family-owned business. Compensation without Handcuffs There are six pillars of compensation: pay, benefits, equity, profit-sharing plans, phantom stock/equity, and structure. This last pillar is a combination of legal, CPA, and insurance work, and helping organizations understand how to use things like leveraged 162 bonus plans is where Intuitive Compensation Group come in. If you have employees, manage employees, or are an employee, you will be interested in these other topics discussed in this episode: Negative examples of employers who have tried to make their employees stay with their company (a la golden handcuffs) Positive examples of employers who have improved employee retention, particularly among key employees How you can promote an entrepreneurial spirit among your employees, specifically key employees, within your business If you liked this episode of unsuitable on Rea Radio, let us know by hitting the like button or by sharing it with your followers on social media. You can also use #ReaRadio to join the conversation on Facebook and Twitter, and you can watch the podcast in action on the Rea & Associates YouTube channel. We've also included access to additional resources on our website at www.reacpa.com. CRN202101-242650: Monaghan - Rea & Associates Podcast 172 – Ke
Locally owned family businesses are the backbone of the American economy, and we are so fortunate to be able to work with many of them at Rea. It is a proud moment when a parent can pass the legacy of business ownership on to their children, but it also brings some unique challenges. For a parent to be able to pass the legacy of business ownership on to their children is a proud moment, but it also brings some unique challenges. Our guest Kevin Monaghan, the owner of Intuitive Compensation Group, works with businesses that struggle through these multi-generational challenges. In this episode, he will help us identify what these challenges are and what multi-generational business owners can do to maintain equality among children, while addressing the concerns of long-term employees so you can achieve as close to a “win-win” scenario as possible. This is the first of a special two-part series with Kevin. On our next episode, we will dive into the topic of the golden handcuffs and their impact on employee retention. Family Matters One of the great things about working with family-owned businesses is the excitement and satisfaction that comes when the business successfully passes through multiple generations. However, successfully transferring a business to a child is easier said than done. So how do you give both sides clarity, while at the same time, keeping it fair – because the parent(s) have to take care of themselves as well, and there might be multiple children vying for leadership positions. It comes down to creating compensation packages that are fair to everyone, if not necessarily equal. If your family owns a business or you are employed by a family-owned business, you will be interested in these other topics discussed in this episode: The family business dynamic and the internal family power struggles that can exist as a result. What the owners of family businesses can do to ensure that the next generation of family members – whether they work in the business or not – are all treated fairly How older business owners can balance their children's development and maintain equality while keeping key employees from feeling as though they've been passed over When families should be starting this process If you liked this episode of unsuitable on Rea Radio, let us know by hitting the like button or by sharing it with your followers on social media. You can also use #ReaRadio to join the conversation on Facebook and Twitter, and you can watch the podcast in action on the Rea & Associates YouTube channel. We've also included access to additional resources on our website at www.reacpa.com. CRN202102-242649: Monaghan - Rea & Associates Podcast 171 - Family B
Kevin Monaghan is the owner of Intuitive Compensation Group. Intuitive Compensation Group works with business owners who have an All-Star employee that is key to running the organization, improves the bottom line, and would be extremely important to a buyer if you were to sell. As an Area Manager, he co-built a consulting firm in Shanghai China from start up to the top in his industry. SourceThe post Ep: 138 Expert Podcast Interview with Kevin Monaghan appeared first on Marketing Consultant and Business Mentor.
Don’t miss the aftershow here! http://2questions.tv/the-2questions-tv-after-show/In today’s episode, Susan talks with Kevin Monaghan, the founder of Intuitive Compensation Group, where he uses his skills of working with American business owners to help retain key employees, develop buyout strategies and navigate working family business partners. He teaches entrepreneurs to help protect, incentivize, and compensate owners and key employees to work and profit together. Susan and Kevin talk about the challenges of bringing a new partner into a business.The views expressed are those of Kevin Monaghan, the information provided is not intended and should not be construed as specific tax or legal advice. Neither intuitive compensation group nor Kevin Monaghan provides tax or legal advice. You should seek advice from your own tax or legal professional for such guidance. Kevin Monaghan as an agent of Massachusetts Mutual Life Insurance Company, Mass Mutual Springfield, Massachusetts. Intuitive compensation group is not a subsidiary or affiliate of mass mutual.Kevin’s website: http://www.intuitivecompensation.comWatch the After Show here: http://2questions.tv/the-2questions-tv-after-show/Susan’s websites:Everything Susan: http://suebmoe.com2Questions.TV: http://2Questions.TVBaroncini-Moe Executive Coaching: http://susanbaroncini-moe.comBusiness in Blue Jeans: http://businessinbluejeans.comShare your thoughts in the comments below!Equipment used for this video:- Zoom.us- Blue Yeti Microphone- MacBook Pro Subscribe to 2QuestionsTV for more interviews and behind the scenes footage! See acast.com/privacy for privacy and opt-out information.
Agencies are in an all-out talent war these days. New business is coming faster and easier. Your clients had a good year and so did you. But if you’re like many agency owners, you’re actually considering shutting down the biz dev spigot because you can’t find and keep the staff to service the new growth. When you see it in writing, it’s ridiculous, right? But if you’re struggling with staffing, you’re not alone. Agencies like yours are the training ground for other agencies, clients building an in-house department and corporations who are going to pay a premium for your best talent. We have to find ways to attract and keep key hires or we’re going to be on a treadmill forever. We can talk culture, we can talk creative benefits like sabbaticals, and we can even talk about assessments that identify people who are born to work in an agency. As compelling as all of that is, it’s tough to compete with money. That’s what intrigued me about Kevin Monaghan and his strategies to help protect, incentivize, and compensate minority owners and key employees. Kevin and his team at Intuitive Compensation Group work with businesses to create compensation packages that keep your people in place, feeling rewarded and valued. Today, Kevin speaks all over the country and helps business owners, partnerships, business brokers (buyers & sellers), and key employees align their goals with workable compensation models that incentivize over time without running into some of the roadblocks of giving away equity or being stuck with a minority stake in a company where you can’t control dividend distribution. Interestingly, while taking a break from the business sector early in his career, Kevin briefly worked as a writer’s assistant for two of NBC’s top comedies, “The Office” and “Parks & Recreation.” What you’ll learn about in this episode: Why giving equity to employees can be a dangerous situation Cash value life insurance is a way to fund a golden handcuff plan that ensures you get money back if the employee leaves (the employee can’t touch this money for a certain amount of time passes) Putting money behind compensation promises so that both the business owner and the employee knows what they’re walking away from if they decide to part ways Different ways to structure cash value life insurance policies so that the burden of tax falls to the agency, the employee, or a combination of the two (and examples of times where each of these would be appropriate) How to use these cash value life insurance policies to set up your agency to be sold when you’re ready to retire Figuring out what matters to the seller and the buyer when heading into an agency sale What happens when an agency owner sticks around after selling the agency The right and wrong ways to compensate young employees that you want to keep but you know aren’t even close to being ready for any agency ownership What benefits young employees really want Why it doesn’t hurt to start planning for your retirement / selling of your agency early Ways to contact Kevin Monaghan: Phone: 877-70LEARN Website: www.intuitivecompensation.com We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!
Today, we welcome to the show Kevin Monaghan, who is part of Intuitive Compensation Group, a company focused on creating incentives for business owners, partners, investors, and key employees so they can work and profit together as a whole. In the franchise world, franchise systems often see exponential growth, and the problem they encounter is they can’t keep up with the demand for high-quality employees who are invested in the company. Kevin is here to tell you how to do just that and all the way bringing a fresh and unique perspective of this process. Key Takeaways: [3:10] Kevin was first introduced to the world of compensation when he moved to Shanghai, China where in order to operate a business, you had to construct a 50/50 partnership. This led him to the compensation line of work which he brought back with him to the United States where these partnerships are not forced but it is still ideal to establish your compensation plan. [6:25] How working with Chinese nationals gave him a better insight into what makes a good and viable partnership. [7:15] Despite the drastic culture differences between China and the US, what wound up mattering to these businesspeople came down to human nature. Being aware, understanding, and communicating a path forward. [8:55] Often times, to satisfy long-term employee growth, you have to allow the employees to grow with the system both in hierarchy and compensation. [16:26] There are a lot of franchised business that want to incentive their franchisees with commission and continuing royalty percentages, but the problem with this is that you give away a large percentage of your franchise and you also can’t predict what the outcome will be. [17:48] Everybody wants to make sure their own interests are accommodated but equity is not always the answer. [18:25] You don’t want your compensation strategy to be a risk. Let the business be the risk and firm up the compensation. [19:37] Using cash-value insurance as an incentive protects you from buyouts over time. [20:55] Investors typically prefer to be incentivized with predictability of income. [23:09] Oftentimes in a 50/50 partnership, five years into the relationship, somebody feels like they are putting in 80% of the work. [24:29] For people who have the “rock star” employee, you need to find something to make sure he/she stays involved but without giving up equity. [29:29] Once you get the financial satisfaction in place for your employees, it is important to satisfy them in other ways including responsibility, leadership opportunities, etc. [30:07] The biggest mistake a business owner can make is that they think out loud and make promises without being able to see them into fruition. Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com http://www.intuitivecompensation.com/
Rob Furman, Andrea Trudeau and Kevin Monaghan discuss parenting changes that may need to occur due to our changing world.
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The first time I met Kevin we had scheduled a brief meeting just to get to know each other. Two hours later I knew I had to have him on the show. From a successful financial planning practice in New York to sleeping on a friend's Couch in Hollywood then back into finance in Shanghai, Kevin has taken a wildly unique path to arrive where he is today. You're going to enjoy this one. You can listen to this episode above. After you listen, drop me a line and let me know how you liked it, then head on over to the iTunes Store and Subscribe, Rate, and Review the show. That's how we keep spreading the word and bringing you even more killer content! Cheers! You can find Kevin on LinkedIn, www.intuitivecompensation.com, or reach out directly at: kmonaghan@financialguide.com Liked what you heard? Consider sharing this episode with a friend. As always, you can find me on Twitter, Instagram, Facebook, & LinkedIn. The podcast is available for download from the iTunes Store, Google Play, Stitcher Radio, and TuneIn. You can also download this episode from the player at the top. A portion of any purchase made through our affiliate links kicks back to the show to help us keep the lights on and bring you more fresh killer content. Podcasts Mentioned: Grant Baldwin - The Speaker Lab Books Mentioned: Rich Dad, Poor Dad How to Win Friends and Influence People The 4-Hour Workweek
There are a lot of hurdles and risks involved when getting involved in a business partnership and this makes it quite daunting to get started. Kevin Monaghan is on the show to share his wisdom and expertise in this exact area. He gives some solid examples of agreements and win-win situations that he uses to bring business partnerships to a winning outcome for all involved. You can find show notes and more information by clicking here: http://bit.ly/2lsunDg
Kevin Monaghan, Senior VP of Strategic Alliances at NBC Sports Group, joins Joe and Tom by telephone to talk about a traditional TV network stays ahead of the game in digital media. As the sports industry continues to respond to changing audience preferences and technologies, Kevin provides some insight into NBC's strategy for reaching younger sports fans. He explains how digital media has been instrumental in NBC's success in taking the English Premier League from the relative margins of the US sports landscape to the front and center of weekend televised sports. And in this Olympic year, Kevin also gives his tip for the 'breakout' sports of the future. The Facts The CUSP Show is a production by the faculty of Sports Management at Columbia University. You can get in touch with the program on Twitter @CUSportsBiz. Our presenters are Joe Favorito and Tom Richardson.