There is an awful side to being a brewery (or any business) owner. That is, sooner or later you are going to have to fire someone. I can’t remember the first person I had to let go. I had two partners and it was usually a joint venture. Actually, that’s not true. I was a restaurant manager before we opened our first place and there were plenty of people I had to let go. Each one was a painful experience.
Interesting read. These past few Weeks the manager team with been getting coach up on how to have difficult conversations with staff. Not necessarily terminate but to correct a situation. I found this in the ball park of that, but would be nice to know how have you addressed difficult conversations with your staff.
On a side note, have you ever used a CELOC (commercial equity line of credit) as a funding source from one of your commercial properties you owned? If so, pros and cons? I am pretty adverse to debt so I’d only go this route if I were to use 100% cash for a building (no mortgage) and then use the CELOC to cover the remaining expenses for equipment/build out. I’d then be focused on paying off the CELOC as soon as possible.
Interesting read. These past few Weeks the manager team with been getting coach up on how to have difficult conversations with staff. Not necessarily terminate but to correct a situation. I found this in the ball park of that, but would be nice to know how have you addressed difficult conversations with your staff.
Thanks for this article. Good mantra for sure.
On a side note, have you ever used a CELOC (commercial equity line of credit) as a funding source from one of your commercial properties you owned? If so, pros and cons? I am pretty adverse to debt so I’d only go this route if I were to use 100% cash for a building (no mortgage) and then use the CELOC to cover the remaining expenses for equipment/build out. I’d then be focused on paying off the CELOC as soon as possible.
Thanks again!