If they put skin in the game.  Big no to gifting equity.  

Sent from my iPhone

> On Aug 23, 2020, at 7:45 AM, Lewis Bergman <lewis.berg...@gmail.com> wrote:
> 
> 
> 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. 
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>>> 
>>> 
>>> -- 
>>> Lewis Bergman
>>> 325-439-0533 Cell
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>> 
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> 
> -- 
> Lewis Bergman
> 325-439-0533 Cell
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