Now in this video, we talk about what is the difference between profit share and revenue share.
Well, I’ve got to tell you guys, that is the difference. The difference is profit versus revenue. Now, profit, as we all know, you're an entrepreneur just like I am, profit is what we turn into the IRS. Revenue is the actual money that we receive into the coffers of the company. It's always our job as a company to make this number (profit) as low as possible (in most cases).
Just look at the U.S. government as an example of that.
And, we always want to make our revenue number as high as possible. In other words, we want to make as much money as possible, but we want to pay as little as we can on taxes.
Now, as you know, there are some companies out there that reward their agents from the company profits (not the revenue).
For example, I was with Keller Williams for 10 years and they rewarded us on what we call “profit share”. Now, profit share was a number that was always a moving target, because as you probably already know, it's common knowledge that many, many, many Keller Williams offices are not profitable at all. They make no profit... zero profit, and so they'll never pay out any money to you.
Whereas, at EXP we always make revenue. It didn't matter if there's a profit that quarter or not, because that's not in question. The revenue is always coming in and because you're an owner of the company, guess what, we're paying 50% of the revenue back to the agents who help us grow.
Fifty percent of the gross income, (company dollar) is going right back out. If one hundred million dollars comes in, $50 Million goes back out… and it is going into your pocket and mine.
That's the difference that revenue share offers, and that's the power of EXP.
So the difference between profit share and revenue share is the difference between night and day. Watch the video to learn more.
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About Knolly:
Knolly Williams is an Author, Trainer and National Speaker, and has been featured on ABC, NBC, FOX, CBS, Newsweek and in over 300 newspapers worldwide.
Using the ancient wisdom found in the Bible, Knolly has coached tens of thousands of entrepreneurs, business owners and individuals on how to become all that God created them to be, so that they can live the life they were meant to live.
Knolly has been a business owner and an entrepreneur since the age of 22, and he has launched multiple 6 and 7 figure businesses over the years.
In 1992 at the age of 22, Knolly launched his first business (a Christian rap record label). With just $1,800 in startup capital which he raised from family and friends. The Lord blessed his efforts, and the company grew to a seven figure business, becoming the #1 record label in its genre in the world, with 14 employees and 18 recording artists.
After 10 successful years, the music industry tanked and Knolly and his wife lost everything including the elegant 6,000 square foot home, executive office building, private recording studio and 10 acre paradise just outside Austin, TX.
After some deep soul searching, Knolly was led into the real estate industry. In 2003, at the age of 33, and starting at rock bottom, the Lord once again blessed his endeavors. Knolly grew to become one of the top 7 real estate agents in Austin, TX (ranked by Austin Business Journal out of more than 9,500 agents and based on actual production). Knolly sold more than 1000 houses during his first 10 years in the business, placing him within the top 1% of REALTORS in the United States.
In 2014, the Lord called Knolly down a different path. Knolly turned his back on the traditional path of success in order to sing the song of his heart... teaching.
Knolly’s biggest joy is his relationship with Jesus, his relationship with his wife Josefina (they married in 1992), his teaching ministry and his weekly Bible classes, which he has been leading since 1989.
Knolly’s primary focus is helping people become all that God created them to be so that they can live the life they were meant to live.
