09 Jun 2006

To the Point of Profit Sharing – Advice?

Where we’ve been to where we’re going.

From 1999 to late 2002, the "We" in We Build Pages was Me, Myself, and I. During those day I also waited tables and worked for a few design companies as their "Internet Marketing Specialist". Those years were "lean" but I could always wait tables as many days a week as I needed.

In 2003 We Build Pages went up to 9 people (I hired my first employee in Dec 2002). Sales rocketed, and then Florida hit in November and took away 2 of our biggest clients….who happened to account for 1/3 Each of our total income…overnight we lost 2/3’s of our income….not fun.

2004 the first half of the year was a loss (I invested in more people, diversified our services…and ended up anyways back at focusing on link building services – it’s what everyone wanted). The second half was good..so we ended up somewhere around evenish.

2005 was the first "good" year. We made some profit with a 90% focus on link building services.

The first half of 2006 was best it’s ever been and the second half of 2006 looks like it easily has potential to be "really good".  2007 looks like it could be "wicked nice" if things work out as planned. (remember we also have several hundred of our own sites 😉 ).

So now we’re making some profit, and I want to pass some of that on to my employees so that if we continue to do better, they all continue to do better.  I’m going to be looking into some profit sharing plans next week.

Does anyone have experience or advice?