You’re kidding? It took you seven years to implement the compensation structure that you felt would foster the right employee culture? Really, seven years?? But- you’re the boss!!
“Yup,” confirmed Dr. Leslie Braksick, an incredibly successful entrepreneur, CEO and executive coach. “We bought our company back, and when we did, with that original owner no longer in the picture, we instituted an employee stock ownership program that allowed everyone—every secretary, every assistant, every travel agent, every consultant—to be a shareholder of the firm …. It was important to me and my other co-founder.”
Bracksick’s story provides evidence as to the lightning-rod issue that surfaces for may entrepreneurs, executives and investors when they grapple with the question “how much should I pay myself, AND how much should I pay others?
For Braksick, the seven-year journey to answer this question began with a legitimate disagreement among herself, her co-founder and the third co-founder. The arduous journey included a sale of the company detour, in order to buy out a partner, and ended with..[access full article]