ownership

This is a page from my book, “How I Sold My Business: A Personal Diary”

Sunday, July 24, 2005

I finally got around to discussing new ownership shares with all of the current LLC business partners, and George poo-pooed the idea for everyone but one person. He didn't think one employee could afford it at all, so he said "Why bother offering it to him?" It's my impression that he doesn't like the second person on the list, and as I mentioned with an earlier employee, he won't work with this person unless I force him to. He also seemed very upset that I'm offering my ownership to Cooper, but not offering any more ownership to him.

This is a page from my book, “How I Sold My Business: A Personal Diary”

Tuesday, July 12, 2005

David, Jack, and I talked last week about selling more ownership in our LLC to key employees. We have several other employees besides George and Cooper that have been very solid contributors for the last five years, and they deserve a shot. Whether or not they can afford it is something else, but they at least deserve the opportunity.

This is a page from my book, “How I Sold My Business: A Personal Diary”

Tuesday, August 31, 2004

David and I did a review with one of our other LLC business partners today (Cooper), and as reviews go, it was very simple. He has been working with David a lot, which is one reason David was there, and I'm told that his work is excellent. Customers love his speed and technical skills, and while he isn't a particularly outgoing person, I've never heard a customer say a bad thing about him.

Work ethic, income, advancement, and business ownership

Just saw this: “Never let your boss convince you that ‘work ethic’ is working extra hours for free. It’s the same as writing a check to the business owner.”

Technically that’s true, a good observation, and I can’t argue with it.

Conversely, when I got out of college, my wife’s grandfather told me the phrase, “If you do more for what you’re paid to do, you’ll eventually be paid more for what you do.” As an employee, I made a lot of money with his philosophy, rapidly doubling and tripling my income.

Later, as the owner of a small business, I didn’t mind it when employees didn’t work overtime – and we always paid for overtime. I respect people who want to work forty hours a week and have a balanced life. But I also knew that those people would never become partners in our business. I never thought of it as good or bad, just a fact of business life.

The Linux `chown` command

Unix/Linux file ownership FAQ: How do I use the chown command?

The chown command is most commonly used by Unix/Linux system administrators who need to fix a permissions problem with a file or directory, or many files and many directories.

For instance, suppose you want files to be owned by the user "nobody", but when you issue an ls command, you see that they're owned by the user "fred", like this: