Employer Explains Why He Went Into Debt To Make Workers Rich

Todd Defren
Courtesy of Todd Defren

By Todd Defren

I had a chance to be rich. Instead I went deep into debt, giving my employees ownership in the company. And it was the best career decision I ever made.

Let me explain: After 20 years of working together, my business partner and I were being courted by the top names in the agency world. At this point in his career, my partner, 15 years older than I, was ready to make a deal. Candidly, sure, I wanted to be rich, too. But as negotiations slogged on, my partner finally turned to me, and whispered, "This would be so much easier if I was selling to you." A light bulb went on. Was such a thing even possible?