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Suggest who benefitsThis Is What It Takes to Build a Business, Vol. 3, Part 1
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Suggest questionThis week, and next week, we take a look back at the conversations we had over the past year, highlighting some of our happiest, smartest, funniest, and most difficult exchanges. We discuss topics such as whether the Great Resignation prompted business owners to overreact and overpay employees, whether the anxiety of owning a business ever subsides, what young couples should ask themselves before one of them starts a business, why owners find marketing so difficult, how owners can sell a business that just won’t sell, and what keeps entrepreneurs going when the going gets really tough.
There aren’t many places where you can hear entrepreneurs talk about the real-life problems they are confronting right now, today, as they happen—with no guarantee of a happy ending. But those are the conversations I have every week with Paul Downs of Paul Downs Cabinetmakers (https://www.custom-conference-tables.com/) , Shawn Busse of Kinesis (https://www.kinesisinc.com/) , Jay Goltz of Artists Frame Service (https://www.artistsframe.com/) , Mel Gravely of Triversity Construction (https://www.trivc.com/) , Jennifer Kerhin of SB Expos & Events (https://discoversb.com/) , Liz Picarazzi of Citibin (https://citibin.com/) , Jaci Russo of BrandRusso (https://brandrusso.com/) , Sarah Segal of Segal Communications (https://segalcommunications.com/) , William Vanderbloemen of Vanderbloemen Search Group (https://www.vanderbloemen.com/) , and Laura Zander of Jimmy Beans Wool (https://www.jimmybeanswool.com/) . They come from a wide range of industries and geographies and experiences, but they all share a willingness to talk about not just what they get right, but what they’ve learned from getting stuff wrong. If listening to one of these highlights makes you want to hear the full episode, that can be accomplished most easily by going to . There you’ll find a transcript of this episode with links to all of the episodes we sample.
About 21 Hats
The proponents of employee stock ownership plans can make them sound like the greatest thing ever. A business owner can take a big chunk of money off the table—or even all of it—while still getting to run the business. And there are some pretty great tax breaks. Oh, and it will also solve income inequality in America. On the other hand, if ESOPs are so smart, why are there so few of them?
Jim Kalb of Triad Components Group in San Diego and Jeff Taylor of Crafts Technology in Chicago have both implemented ESOPs. Jay Goltz of the Goltz Group in Chicago has reached his 60s without a succession plan, and he’s considering his options. In this 21 Hats Conversation, you get to listen in on a street-smart discussion of the pluses and minuses of ESOPs from the business owner’s point of view.
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