26. Sherry Stewart Deutschmann — Maximizing Profits by Investing in Your People

The Game Changing Attorney Podcast with Michael Mogill

"The sooner you start giving your employees skin in the game, the sooner you'll be able to afford everything else you want to do." - Sherry Stewart Deutschmann

• Why should CEOs let their employees look through the company finances?
• How did Sherry Stewart Deutschmann build one of the world's fastest-growing companies?
• Why should every leader have lunch with their employees and really listen?
• Can you really profit by putting your employees before your clients?

How to Maximize Your Profits by Investing in Your People

Sherry Stewart Deutschmann is a serial entrepreneur, speaker, and author of "Lunch With Lucy: Maximize Your Profits By Investing In Your People." From humble beginnings, Sherry built a 40 million dollar company that was included in the Inc. 5000 List of Fasting Growing Private Companies for 10 years straight. She shares her incredible story with us, including her revolutionary methods for employee engagement and exponential growth.

Profit-Sharing and Financial Transparency: The Sherry Stewart Deutschmann Way

Sherry implemented a controversial profit-sharing methodology in her business that meant every single employee got an equal share. Instead of turning off high-accountable employees, Sherry says that employee engagement went through the roof.

Sherry explains how you can turn your team into powerful advocates for your organization, plus the daring level of financial transparency that she believes ensures maximum buy-in.

Why Every CEO Should Have Lunch With Their Employees

These days, every leader has employee engagement on their mind, but Sherry believes it's about so much more than just hitting those KPIs. With her Lunch With Lucy program, she designed a way for employees to feel listened to, increase their satisfaction within the workplace, and garner new insights into improving her business.

She shares how one-on-one informal chats became the catalyst for change within her business — and saved her time and money in the long run.

Key Takeaways:

• 64% of our employees are disengaged. Sherry believes it's because they don't believe they matter, but leaders can change that statistic — and they must in order to truly succeed.
• When customers DON’T come first, everyone's a winner. Believe it or not, having an employee-centric business model improves your customer service as a by-product.
• Changing the game means giving others a chance to play. Peer-to-peer support and mentorship can help growing businesses thrive.

Links and Resources

• The Game Changing Attorney Podcast
• Michael Mogill Facebook
• Michael Mogill Twitter
• Michael Mogill Instagram
• Michael Mogill LinkedIn
• Crisp Video Website
• Crisp Video Facebook
• Crisp Video Group Twitter
• Crisp Video Instagram
• Crisp Video LinkedIn
• Sherry Stewart Deutschmann Website
• Sherry Stewart Deutschmann LinkedIn
• Sherry Stewart Deutschmann Twitter