{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Your Employees Think You Make More Money Than You Do","description":"Your employees may think you\u2019re making far more money than you actually are.   In this episode, Dominic Rubino sits down with Steve Baker from The Great Game of Business to discuss one of the biggest disconnects between business owners and their teams: understanding how the business actually makes money.   Steve shares how The Great Game of Business helps companies teach employees to think, act, and feel more like owners without simply handing over equity or revealing every private financial detail.   You\u2019ll learn why revenue, gross margin, net profit and cash are often misunderstood, and how those misunderstandings can affect decisions throughout a company.   Steve also walks through the powerful \u201c$1 exercise\u201d: showing employees what happens to every dollar of revenue after labor, materials, overhead and other expenses.   For example, if a business generates a 5% net profit, it needs to produce $20 in revenue to create $1 in profit. That means a $300 expense ultimately requires $6,000 in revenue to generate the profit needed to cover it.   That perspective can completely change how employees think about waste, rework, equipment, profitability and their individual impact on the business.   In this conversation, we cover:   \u2022 Why employees often overestimate how much profit owners make \u2022 Revenue vs. gross margin vs. net profit vs. cash \u2022 How to teach employees the financial fundamentals of your business \u2022 The $1 exercise and how to use it with your team \u2022 Why sharing financial information doesn\u2019t mean sharing everything \u2022 How to get employees thinking more like owners \u2022 Creating incentives tied to better business performance \u2022 Why financial literacy can improve accountability and decision-making \u2022 How stronger businesses can create long-term wealth and legacy   Steve also shares the remarkable origin story behind The Great Game of Business and how Jack Stack and his team used financial education to help save jobs and build a stronger company.   If you own a remodeling, construction, cabinetry, woodworking, contracting, or trades business and want your employees to better understand what it actually takes to make money, this episode is for you.   Subscribe for more conversations about building a profitable business, developing your team, and creating a company that works for you not the other way around.   More about Steve Baker: Site: https:\/\/www.greatgame.com\/ Youtube: https:\/\/www.youtube.com\/user\/GreatGameofBusiness Instagram: https:\/\/www.instagram.com\/thegreatgameofbusiness\/ LinkedIn: https:\/\/www.linkedin.com\/company\/the-great-game-of-business\/   Also check out: Cabinet Maker Profit System: https:\/\/www.cabinetmakerprofitsystem.com Profit Toolbelt: https:\/\/www.profittoolbelt.com\/ Contractor Wealth System: https:\/\/www.contractorwealthsystem.com\/   DON'T FORGET TO SUBSCRIBE:  @Cabinetmakerprofitsystemcom   @profittoolbelt4527 #cabinetmakerprofitsystem #ProfitToolBelt #dominicrubino  #millwork #cabinetmaker #woodwork #profitability #podcast #efficiency #entrepreneur #architecturalmillwork #woodworkingbusiness #CabinetShop #ArchitecturalMillwork #ContinuousImprovement #LeanManufacturing #WoodworkingBusiness #ShopManagement #ExitPlanning #ManagementBuyout #ConstructionBusiness #stevebaker #thegreatgameofbusiness ","author_name":"Cabinet Maker Profit System Podcast I Business Owners I Cabinet Makers I Architectural Millwork I Furniture Makers I Business ideas I Tips I Business Coach Dominic Rubino","author_url":"http:\/\/cabinetmakerprofitsystem.libsyn.com\/website","html":"