Plan C

Plan A was to force out the Boss by paying him $5000 per month for 5 years in exchange for selling us the company. Or we walk. I was pretty sure he would tell us to take a hike. So on the morning of the confrontation we all chickened out.

We did, however, all have a long, deep conversation with the Boss individually where we were able to list our grievances. Not that it helped much. But he did seem open to selling for $250,000. He needs the cash (back taxes and an ex-wife, you do the math).

So we came up with plan B: we find an investor with $250,000 and pay off the Boss and then we become the bosses. The investor would own 51% and the three of us would own the remaining 49%. But with the Boss out of the picture and his debts paid he would still need a job.

Enter Plan C. Each of us three ponies up 25% of $250,000 to buy 25% of the company. The Boss retains 25%, but no longer has controlling interest. All four of us receive the same draw (right now the Boss gets almost twice what any one of us is getting and does little or no work). And the Boss needs to work every day. So now I need to find (borrow) $62,500.

I'll understand if you don't answer the phone when I call.