Is it common? No Why isn’t it common? I have no idea.
Yes I as the owner took the risk. But X Y and Z employees have been here with me for the past 30 years and kept things running. Shouldn’t I be grateful for what they helped me build? Like I said - I’m not judging anyone who makes a decision one way or the other. But to me it doesn’t seem right to say “thanks for 20 years of dedicated service and helping us make millions, go find another job now”. > On Aug 23, 2020, at 8:51 AM, Steve Jones <thatoneguyst...@gmail.com> wrote: > > > Is that a common thing in businesses? Employees getting a cut of a sale? I > could see the purchaser giving a retention or severance, but I d9nt see how > an employee would be entitled to anything more than a handshake or kick in > the pants > >> On Sun, Aug 23, 2020, 7:22 AM Matt Hoppes >> <mattli...@rivervalleyinternet.net> wrote: >> Lewis, >> It’s your business and you can do what you want to with it and I won’t judge >> anyone for that. >> >> We do do profit sharing at the end of the year. >> >> I guess it’s just a different cultural approach to business, while it’s true >> I do have all the risk, we wouldn’t be anywhere even close to where we are >> today if it weren’t for the dedicated employees and that I have. Yes some of >> them are high maintenance, but they bring talents and ability to the company >> that has kept it moving forward. >> >>>> On Aug 23, 2020, at 8:09 AM, Mark Radabaugh <m...@amplex.net> wrote: >>>> >>> Or do the compromise between you and Matt - the ESOP where the employees >>> end up owning it. You get nearly the same money out and they eventually >>> get the same deal - if they can keep it going and build it. It’s harder >>> because you have to figure out how to both get it to cash out and build at >>> the same time. >>> >>> Mark >>> >>>> On Aug 23, 2020, at 7:59 AM, Lewis Bergman <lewis.berg...@gmail.com> wrote: >>>> >>>> This isn't the feel good kumbaya that might be popular, but I'll say this >>>> on the subject of division of profits: >>>> I started my WISP by myself. All of you who started with your own >>>> checkbook and sweat know what that took. My family sacrificed as I worked >>>> massive hours. I did everything from accounting to server builds >>>> maintenance to installs and tech support. All while I was making about 1/3 >>>> of minimum wage while I did it. We lived off my wife's school teacher >>>> salary. >>>> >>>> I did that for a pretty short time as we had some early success and after >>>> a couple of years I started hiring people. By the time I sold I did what I >>>> wanted when I wanted. The people I hired I paid better than average hourly >>>> wages for the job and gave bonuses paying them for their work as they did >>>> it. I never asked any of them to sacrifice like I did nor did they offer. >>>> >>>> I took all the risk. If we failed I was the one in financial ruin. They >>>> could all walk away inconvenienced but fairly unscathed while I was >>>> personally liable for all company credit cards, vendor payments, carrier >>>> contracts, etc. >>>> >>>> And of course you can tell where this is going. Myself and the other >>>> shareholders kept every dime and I sleep fine at night. I worked to help >>>> get all the best employees jobs. Sure some were angry because they somehow >>>> felt they deserved something. Those were also the same employees I could >>>> have and probably should have already gotten rid of as they were problem >>>> children. Risk and reward. I took the risk, I get the reward. You want >>>> rewards? Take the risk. >>>> >>>> I did give a few people bonuses, help setup two in related businesses >>>> without loans (funneled business their way) but it was not any kind of % >>>> or really all that significant.I did that because they had been good >>>> people first, hard workers second, and last but not least, made my life >>>> easier when we were doing our thing. >>>> >>>> I am a capitlist and make no apologies for it. >>>> >>>>> On Sun, Aug 23, 2020 at 6:16 AM Matt Hoppes >>>>> <mattli...@rivervalleyinternet.net> wrote: >>>>> Now that I think about it - I wonder if my plan of C would be a way to >>>>> reduce income taxes too on the amount received? >>>>> >>>>> Either by funneling the money through the company and paying the >>>>> employees or having the buying company write a check to each of the key >>>>> employees. >>>>> >>>>> I’m not sure which would yield better results for everyone. >>>>> >>>>> The way I look at it though - I don’t have hard partners. That often >>>>> leads to problems. But everyone who sticks with the company and >>>>> especially if they make a career out of it should be compensated nicely - >>>>> both each year out of proceeds they helped make as well as out of a major >>>>> sale if it ever happens. >>>>> >>>>> If anyone here has ever worked for a company where the owner sold and got >>>>> 2 million and you had worked there for 10 years building it up —— well, >>>>> how did you feel? Slap in the face. >>>>> -- >>>>> AF mailing list >>>>> AF@af.afmug.com >>>>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>>> >>>> >>>> -- >>>> Lewis Bergman >>>> 325-439-0533 Cell >>>> -- >>>> AF mailing list >>>> AF@af.afmug.com >>>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>> >>> -- >>> AF mailing list >>> AF@af.afmug.com >>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >> -- >> AF mailing list >> AF@af.afmug.com >> http://af.afmug.com/mailman/listinfo/af_af.afmug.com > -- > AF mailing list > AF@af.afmug.com > http://af.afmug.com/mailman/listinfo/af_af.afmug.com
-- AF mailing list AF@af.afmug.com http://af.afmug.com/mailman/listinfo/af_af.afmug.com
