A short first-person reflection by Chad Silverstein about building trust and culture at a small company over many years, and the hard choices required when selling that company after 25 years. He recounts advice to list and prioritize what you want from a sale—highlighting that if employee outcomes and culture matter most, you must make those non-negotiables during negotiations.
Chapters
I've heard Chet tell this story many times. And there was definitely a time, I remember, when I felt that I would do absolutely anything for my team. And I did, for sure. And that was a pretty incredible time. I mean, we were growing, we were a small company. Not like this example that he's giving in the book. But it definitely made people feel like they were a piece of the business and so much trust was built and people knew that we had their back and that they could depend on us and trust us, that it created a phenomenal culture. And I remember when I went to go sell the company, I asked my friend for some guidance and he told me, you have to basically write out what you want from the sale of the company and then prioritize your wants. And, and if something, for example, like caring about what happens to the employees after the company, if that matters most to you, then you have to put that up there. And then you have to be comfortable either getting or having a non negotiable about what you're willing to accept or not accept in order for you to move forward with the sale of the company. And I had to make those decisions. And one of them was my culture and giving away my company that I had built for 25 years and would have had a huge impact on everybody's career. And so, you know, I think everybody's situation is unique and distinct and you have to think about yours and it's something definitely to reflect and write about.