The Sharing or the Debt?

Dear Dave, My small business has been very successful this year. I'd like to start a profit sharing program, but the company still has some debt. Should I wait until the debt is completely paid off to implement this idea? Mark Dear Mark, I'm glad you're thinking this way. Sharing with your team changes the very culture of the company. Your team will see the rewards of their efforts. In my mind, it's an absolute necessity when it comes to winning in business. Debt elimination is also a very smart thing. When debt is out of the picture, your cash flow and profits increase and your risk is reduced. Plus, if you're thinking about a profit sharing plan, it will give you more money to share with your team! So, what you have here is two good ideas. Give both of them a shot! Find a balance between the profit sharing and debt payments, and see what happens. When your debt is paid off, you can increase the profit sharing because you'll have more money to go around! - Dave
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