The EntreLeadership Podcast Am I Taking Advantage of My Employees?
Apr 14, 2025
A business owner ponders the pros and cons of providing vehicles for employees, weighing fair compensation against profitability. Navigating partnerships is another key topic, as one caller questions the merits of sharing profits without granting ownership. Debts keep another entrepreneur up at night, prompting discussions on negotiating with vendors and fostering trust. Lastly, a family business grapples with the complexities of transitioning ownership, balancing modern challenges with traditional family dynamics.
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Episode notes
Company Vehicles vs. Reimbursement
- Don't let new hires dictate company policy.
- Analyze the real cost of employee vehicle use before offering company vehicles.
Partnership Considerations
- Avoid minority partnerships due to lack of control.
- Consider profit sharing as a cleaner alternative for aligning incentives.
Managing Vendor Debt
- Negotiate settlements with past vendors you no longer work with.
- For current vendors, pay down old debt incrementally alongside current bills.