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Suggest questionThis week, Karen Clark Cole, Paul Downs, and William Vanderbloemen start with a discussion of how 21 Hats might finally take the plunge into monetization. We also discuss Karen’s decision to forgo less-profitable revenue, William’s grand experiment of unplugging for seven weeks, and Paul’s attempt to balance personal and company responsibilities. Plus, we consider the impact of The Great Resignation, and we look for lessons to take from last week’s discussion about mental health.
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.