Everyone should listen to Chuck re: all subjects of this entire thread.
The replace bologna with Spam thread….not so much.
On 23 Aug 2020, at 12:35, Chuck McCown wrote:
I will never give employees ownership again. Has a couple really bad
experiences with that.
Sent from my iPhone
On Aug 23, 2020, at 6:09 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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