n-Link Corporation founder Sandra Green discusses how creating an employee stock ownership plan gave her employees more incentive to stay at their current jobs.
You Just Watched
How I Did It: Tim Gimbell, The LaSalle Network
Reinventing the Town Square
Gary Vaynerchuk: Put a Ring on It
Carol's Daughter CEO: When to Let Go
Video Transcript00:07 Sandra Green: n-Link does primarily high technology professional services for the federal government. And our primary vision or mission would be to, or is, to provide the most innovative solutions for the federal government, so that the taxpayers all benefit.What have you done for your employees that has added to your success?00:30 Green: Well, the plan was that, originally when we started the company and Tony Matthews, often times, is proud to say this at the conferences, that he's always developed companies to go ESOP after many years when the owner decides to leave the company and they don't really want to... They want to continue the culture of the company, but handing it over to the employees, so they do an ESOP transaction and that allows the owners to have the Golden Parachute for them to retire. We're the first company...00:59 Green: When I was just starting, it was just me and I called him and I said Tony, "I heard you do Employee Stock Ownership Plans and I'm just starting a company" and he said "so how much do you want to own?" And I said "I just want to own five percent". And he said "why do you only want to own five percent?" And I said, "well that was the five percent I got screwed out of with the former company". And so, all of my mentors and all of my decisions have always been from companies that I think have done things wrong or people that have done not the right thing and that's been my most important lessons and mentors, for me to do things right, to kind of own up my convictions, to be different.What's your advice for entrepreneurs?01:48 Green: Always look forward. Never, never be flipped back and I don't really normally, but if you put too much weight on what was promised, the best thing is to never count on any promises. And that probably sounds kind of negative, but I think the best thing is to stay focused on what you can do for yourself.
FROM OUR PARTNERS