Tag Archives: business ownership

Selling Your Business: Money isn’t Everything

When I was a kid my mother said “Money isn’t everything” in response to every envious glance at another kid’s stuff. As I became successful enough to afford things for my children, I reversed the meaning. “Money isn’t everything” became … Continue reading

Posted in Entrepreneurship, Exit Planning, Selling a business, Strategy and Planning | Tagged , , , , , , , , , , , , , , , , | Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Employees Who Make Bad Choices

Employees who make bad choices in their personal lives usually create problems in the workplace. Should you take their issues outside of the business into consideration when hiring or assigning responsibility? The legal answer of course, is “no.”  Employers are … Continue reading

Posted in Entrepreneurship, Leadership, Managing Employees, Strategy and Planning | Tagged , , , , , , , , , , , , , | 2 Comments

2 Responses to Employees Who Make Bad Choices

  1. Tracey C says:

    I had a small family business with one employee. She was very loyal to us as a family and came to work nearly every day (which was an important part of the job because we were very small and very dependent on each other). She could manage herself and her work load very well. The customers loved her, she knew the business, understood the risks involved and – probably most importantly – knew when to ask for help and when not to. She always got the job done and did it well. She started on a part-time basis and then moved into full.

    After she became a full-time employee, I began to see the horrific choices she was making in her personal life (because she would come and talk to me about them – often for long periods of time). Her issues began to dominate the office started causing more and more problems for me. One day, our work was interrupted because someone showed up to repossess her car….but how do you fire someone for that? And through it all, she still came to work every day, got her work done and the clients still loved her.

    I tried to create boundaries to manage the drama, but probably didn’t do a great job of it, and it had a fairly negative effect on our relationship. I also had a hard time getting support from the other family members for terminating her because she did such a good job with her work and knew the business so well, and was so loyal to us and the company. In many ways, she would have been very difficult to replace.

    It was a difficult situation that really had no good answers or solutions. In the end, it was resolved because we had to close the business for reasons that were completely beyond our control (and had nothing to do with her).

    Closing the business actually solved a number of problems that had been brewing beneath the surface and threatened to make families dinners rather painful, but I can’t really recommend it as an effective or ongoing problem-solving tool.

    • John F. Dini says:

      Thanks for the story, Tracey. I wish I could say it was the first such I’ve heard. Closing the business is a more radical solution than I’d typically recommend, however! 😉

Leave a Reply

Your email address will not be published. Required fields are marked *

Selling to Employees: Is Your Exit Strategy Right in Front of You?

When I interview a prospective client for exit planning assistance, we usually explore selling to employees. The first reaction is always “That won’t work. They don’t have any money.” If you have a company with reasonable cash flow, a talented … Continue reading

Posted in Entrepreneurship, Exit Planning, Incentives, Leadership, Managing Employees, Selling a business, Strategy and Planning | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Employee Experience: Is Bigger Better?

Small businesses provide much of the initial employee experience. We take younger folks and teach them decent work habits like showing up every day, being on time, and working to deadlines. As owners, our personal skills may not be sufficient. We … Continue reading

Posted in Business Perspectives, John's Opinions, Leadership, Managing Employees, Strategy and Planning | Tagged , , , , , , , , , , , , , , , | Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

What’s in YOUR Nondisclosure Agreement?

A Nondisclosure Agreement (NDA) has become one of the basic standard documents in every company’s wallet. Between the rising swell of Baby Boomer owners entertaining exit planning, and greater caution surrounding the legal issues of strategic partnering, an NDA is … Continue reading

Posted in Entrepreneurship, Exit Planning, Managing Employees, Selling a business, Strategy and Planning | Tagged , , , , , , , , , , , , , | 4 Comments

4 Responses to What’s in YOUR Nondisclosure Agreement?

  1. Jim marshall says:

    In some areas an NDA requirement preventing hiring any your employees have been found not legal because of is effect on freedom to find new employment for the employee. EG where there are limited opportunities for certain skill sets in the geographic area.

  2. In many areas, employees’ response to an open advertised employment solicitation is normally not covered by the NDA’s restrictive provisions….while direct contact is. From a client perspective, it is important to note the difference and that the risk exists, but is essentially the same as it is in “normal” times.

    • John F. Dini says:

      Good point Richard. Actually most large companies won’t agree to a non-employment clause for just that reason. They don’t want liability (or screening responsibility) for normal recruiting activities. With smaller acquirers, JV and merger discussions, I have seen it included (subject to state unemployment law, as was previously noted.)

Leave a Reply

Your email address will not be published. Required fields are marked *