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Suggest questionThis week with Paul Downs, William Vanderbloemen, and Laura Zander, the talk leaps from one plague to another—floods, power outages, cyber crime, employee churn, supplier price hikes, and vanished shipping containers—not to mention the actual plague. For Laura, whose wholesale yarn business keeps falling further behind on its orders, these events have necessitated a series of difficult conversations with customers: “They can't get mad about the pandemic,” she tells us. “And they're not going to get mad about the fact that we're moving. And they're not going to get mad about the fact that there's a deep freeze. But at some point, they're going to get tired, whether it's consciously or subconsciously. It's exhausting.” To which she adds, “but if the locusts hit, I don't know how much more of this people can take.” Plus, a friendly discussion about whether raising your prices makes you a jerk. (Spoiler alert: It does not.)
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.