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Suggest who benefitsDashboard: What If You Could Wave a Magic Wand?
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Suggest questionThis week, at a moment when a lot of businesses are confronting chaos and uncertainty, Shawn Busse talks about how he and Kinesis survived the Great Recession, which was primarily by talking to business owners to better understand their needs and pain points. Shawn’s advice? Create a process to talk to both your existing customers and your dream customers on a regular basis. Ask them open-ended questions, including Shawn’s favorite: What would you do if you could wave a magic wand and make anything happen?
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.