Why We Started Sharing Profits at Socialike

I wasn’t planning on writing about this.

Then I saw a headline that said thousands of SpaceX employees had become millionaires because of the company’s growth.

Obviously, Socialike isn’t SpaceX. We’re not planning an IPO anytime soon.

This quarter (before the Space X news came out), we introduced a profit-sharing program for our full-time team members. Every quarter, a portion of our profits will be distributed as bonuses to the people helping build the company.

In a lot of ways our team already acts like owners emotionally because they truly give a shit about the business – but – We wanted them to participate like owners financially.

Ownership starts with mindset.

It’s caring about the outcome, not just the task.

It’s looking for opportunities, solving problems before they become problems, and wanting the company to succeed because you genuinely believe in what you’re building.

And if someone is helping build that success, I think they should have a chance to share in it.

The reality is that agencies are different from a lot of businesses –> The team is the product.

The ideas, the strategy, the creativity, the client relationships, the willingness to go the extra mile for a client. That’s what clients are hiring.

As we’ve grown, I’ve become more convinced that retaining great people is one of the most important investments we can make.

Not just because it’s good for our team.

Because it’s good for our clients.

I’m incredibly grateful for the team we’ve built and continue to build.