Do you remember the Seinfeld episode where Jerry stole the chocolate babka?  Or did he steal the marble rye? (I don’t remember, but I digress.)

The bakery is a real place – was a real place. It’s name was the Royal Pastry Shop and if you went near the place in the 90’s, the line snaked around the block. Sometimes. (trick was to get there very early)

So what happened? Why did they go out of business?

Bottom line is that they thought the business would run forever – they were a Seinfeld icon, their babka was unparalleled. It was a money machine.

History doesn’t always repeat itself, but one takeaway is that you need to take some chips off the table when you can. One of the best ways to do this is through an ESOP.

If you can sell a small portion of your firm, like 30%, and pay zero taxes on that sale, it is something that you should at least consider. At least learn your options.

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