ESOP isn't a compromise. It is a group of employees willing to risk what they have for what they want. I would rather sell to e employee's than anyone else.
On Sun, Aug 23, 2020 at 7:09 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 > -- Lewis Bergman 325-439-0533 Cell
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