Saturday, August 19, 2006

Two Paychecks

My wife and I were taking care of switching our Maryland drivers liscenses over to New York state yesterday and on an errand we ran into the John DeMayo’s father.

Mr. DeMayo is a great guy, successful businessman and a wealth of great knowledge and insight. We talked about business and life and he told me about what he’d say to every employee when he hired them.

“You have the chance to earn two paychecks from me, the first one is what I pay you for the work you do today for me. The second paycheck is what you are going to learn on the job and then have the potential to sell back to me in the future. If I don’t pay you for it you can sell it to another employer.” Note this is approximately what Mr. DeMayo said.

This is a great concept, he obviously had a learning company. It’s a great way for employees to think about their job, the second paycheck is what gets you ahead.

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