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Suggest questionThis week, in episode 89, our last episode of 2021, we take a look back at the conversations we’ve had this year about the rewards and responsibilities of business ownership, including what it’s like to sell your business, to fire an employee, to risk your own home in order to get financing, to have to make a bet-the-company decision, and to deal with mental health issues, even thoughts of suicide. In this bonus episode, we highlight some of our happiest, smartest, funniest, and most difficult exchanges from the past year.
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.