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Main Time Information
Color Code: Yellow
Assigned To: Brandon Moore
Created By: Brandon Moore
Created Date/Time: 3/29/2022 6:13 pm
 
Action Status: Blank (new)
Show On The Web: Yes - (public)
Priority: 0
 
Time Id: 8859
Template/Type: Brandon Time
Title/Caption: Budget Meeting
Start Date/Time: 3/31/2022 4:00 pm
End Date/Time: 3/31/2022 5:15 pm
Main Status: Active

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Notes:

- Steve and I were talking about options for percentages. Buy backs, selling, buying and selling within the company (percentages), approval processes, and other options.

- Some of our guys want x, we may only be able to provide y. This becomes a partial - on ownership and a partial on guaranteed payments (salary)

- We may need good 1099 options and good owner (percentage) options. We are really leaning toward the owner and percentage option. That would totally cut out 1099ers and employee. We would just have owners.

- If someone is brand new - they could go 1099 (have to check all the boxes) or we could gift them 1/10 of a percent and then set a buy back schedule for the first year. Say $100/month. 1=$100, 2=$200, 3=$300, etc. Up to a year. Once it passes a year, it has matured and will be real or have a real value (market value or valuation value). We give it to you for $0 and we are able to buy it back for $100/month of service up to one year.

- What about allowing people to buy more percentages - yes, no, maybe - values change but that might be an option. It may be a case-by-case basis.

- Adilas will get first right of refusal (buy back option).

- We are trying to focus our efforts going forward. Any water under the bridge is just that, water under the bridge. We are switching over to owners and a multi member LLC.

- Currently, we are not looking for any new places - job openings or new team members. Our only major need, right this minute, is on the sales side of things.

- Our guaranteed payments may need to be looked at and possibly altered on a monthly basis. Based on a budget. Time is money. We may want to write something like this into our by laws. We may need to look into options to figure out how to flex some of our guaranteed payments.