Well I’m at least 20 years from retirement. so I’ve got time. I’m looking into several options including coop and ESOP. First 5 years of business was living off savings and raiding retirement funds instead of getting investors. At present I’m aiming for selfish goals of repaying myself and saving for my kids.
There are tech companies who don’t want to sell. I started my tech company 9 years ago and we did almost $5M last year. My plan is to do this for next 20 years and then sell to my employees. Sure there’s a number big enough that I’d sell my company but so far any acquisition offers have been met with snark and disrespect (from me) and died pretty quick. I talk to other tech owners in similar boats. We just don’t need to tell everyone because we aren’t trying to get acquired. One vocal exception is 37 Signals.
For me it sunk in that we really need both. Insurance against the inability to work due to just getting old and retirement to allow for enjoyment and experience a life beyond the grind.
Think beyond VC backed companies. Those get tons of attention because they need it.
Investors = bad. I whole heartedly agree.
For profit doesn’t have to be bad. What if it were a worker/user co-op. Have a free product and have a paid product. If you pay for the product you get a (just one) vote. If you work for the company you get a vote. Users won’t vote for maximizing profit. But the profit means you don’t have to beg for donations.
Craigslist would be another example. For profit but no major investors so doesn’t have to prioritize profits.
Profit. Revenue minus expenses. There are some things you wouldn’t expect, like inventory doesn't count as an expense until you sell them. So frequently profit is actually higher than money in the bank and a lot higher than what owners get paid.
Citizens United was about corporations getting rights of people, not them paying taxes as people. I’m suggesting they should because individual tax rate is higher than corporate.
Washing dishes is the first thing that comes to mind. Foot rubs is another. I’m sure ill think of others