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Suggest who benefitsDashboard: Where Do You Turn When You’re Stuck?
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Suggest questionKelly Berry’s introduction to small-business ownership came at a moment when most new parents are focused on something else entirely. She had just come home from the hospital after giving birth when her husband handed her a personal guarantee to sign. He had quit his job to start a business.“So if this fails,” she said, “you’ll be unemployed and we’ll be homeless?”“Yep,” he moment made the risks of entrepreneurship very real—and it helped set Kelly on the path she’s been on ever since. She went on to earn her MBA, work with economic-development organizations, and eventually launch her own business running peer groups for business owners. Her focus has always been the same: helping owners navigate the challenges they face— this week’s Dashboard, Kelly shares what she’s seeing on the front lines of small business, why peer groups can be so powerful, and how she’s working to bring that support to owners in rural communities who may not have access to in-person groups. She also talks about what it takes to build her own business along the way. And if you’d like to explore whether a peer group might be right for you, you can start with a short quiz she’s created (https://secondstagegrowth.com/quiz/) .
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.