A Friday series exploring Startups and the people who make them go. Read all If the Shoe Fits posts here
People never cease to amaze me even though I know that what you see isn’t always what you get.
“Pete” is a great example of that.
Pete is an entrepreneur and a friend of mine works for his company.
My friend raves about the great culture. He says it is merit-based, treats everyone fairly and has very little of the politics and favoritism he has seen at other companies. He likes the values and Pete’s attitude to giving back to the community.
The company isn’t new, but it is still private, so when my friend heard that Pete was thinking of issuing stock he sent a link to Option Sanity and introduced me.
Long story short, we had an extensive conversation; Pete talked about his belief in the importance of fairness and merit and giving back and I explained how Option Sanity™ would strengthen his culture and work to ensure the fairness that seemed so important to him.
And because Pete was so emphatic about the importance of giving back I told him about 1% of Nothing, started by Shervin Pishevar and Matt Galligan, with the goal of getting startups to donate 1% of their equity to a charity of their choice.
Pete ended our conversation saying he wanted to think about it and work with the Option Sanity demo.
I just received an email and I thought it ironic that it came on Thanksgiving.
Although he dressed up his response in complimentary language, the upshot of what he said was that both Option Sanity™ and 1% of Nothing were naïve ideas.
He said that he wanted to have complete freedom when awarding incentive stock as opposed to committing to a methodology, even though he structured it. Some employees were relatives or good friends and he wanted the ability to give them more. He wasn’t worried about performance, because he could always rescind the grant or fire them.
With regards to 1% of Nothing, although he planned to give to some of the proceeds of an eventual sale to charity there was a good chance that certain products in development would substantially increase the value of the company.
He had a specific dollar amount in mind for charity and saw no reason to possibly exceed that by giving the 1%.
I was totally floored.
Option Sanity™ is authentic
Come visit Option Sanity for an easy-to-understand, simple-to-implement stock process. It’s so easy a CEO can do it.
Do not attempt to use Option Sanity™ without a strong commitment to business planning, financial controls, honesty, ethics, and “doing the right thing.” Use only as directed.
Users of Option Sanity may experience sudden increases in team cohesion and worker satisfaction. In cases where team productivity, retention and company success is greater than typical, expect media interest and invitations as keynote speaker.
Image credit: HikingArtist