II. KEEPING SUPERKEEPERS
Most business owners will face, at some time in their business cycle, the pressure to sell stock to key employees. The pressure will be to keep their superkeepers (super performers) – the key people you do not want to lose from your team. I have only one thing to say – don’t sell stock. Don’t sell stock unless you are ready to begin your exit strategy. Why?
I cannot tell you the number of situations where this has been a disaster for the owner. Something happens when stock transfers that turns your cooperative, malleable employee into a different person. When a loyal, dedicated, uninvolved employee is given stock, they become super vigilant, diligent, an audit hawk. What was once a very congenial, “go along with anything” associate now wants to know every detail related to everything going on in your business and will make your life miserable. You can no longer take long lunches; deduct golf games with potential consultants or key accounts.
Your life will change. Your car will come into question, along with your gas card and your salary will become an issue. The bonus program will suddenly become a major sticking point. Maybe you don’t believe me? So go ahead and try it and find out. Many owners have and then have regretted it.
What Is The Solution?
Unfortunately, the real problem with selling stock does NOT solve the superkeeper issue.
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