Eric Burnside

Own and operate a niche business in 401k administration. Working on 2x the business in 3 years. Solving growth and automation problems. #smbtwit

[Eric Burnside @ejburnside]

There’s a non-zero chance that an unintended (positive) effect of AI is an art renaissance of an even greater magnitude than the one experienced in 14th - 17th centuries

[Eric Burnside @ejburnside]

SEP contribution is limited to the lessor of 25% of your compensation or the contribution limit. Solo(k) contribution is deferral ($24k) plus 25% of your compensation up to the total contribution limit ~ $70k

Solo(k)s can be very advantageous if you’re taxed as an S-corp and compensation is <$150k/yr

[Eric Burnside @ejburnside]

@sweatystartup Our acccount managers are paid anywhere from 1% out to 9% of revenue they generate. Percentage increases as the revenue per dollar of their salary increases. Spot bonuses are paid for satisfaction ratings and hitting revenue milestones

[Eric Burnside @ejburnside]

@sweatystartup But you would trust someone more if they had a man bun and chopped it off when they realized it was the dumbest haircut ever

[Eric Burnside @ejburnside]

@WilsonCompanies Work with my fractional HR firm. We specialize in the trades. We work on a strategic initiative for free. If you like it, send a testimonial to your network. You win, we win!

[Eric Burnside @ejburnside]

@ChrisRamsey60 True in business as well, but harder to pull off. Usually the genie gets out of the bottle

[Eric Burnside @ejburnside]

@patrickc The massive wave of capital inflows into passive index funds over the last 15 years

[Eric Burnside @ejburnside]

@thedankoe The first is to get brutally honest with yourself and fully accept your current reality

[Eric Burnside @ejburnside]

This is the way

[David Senra @FoundersPodcast]

James Dyson on how his mind works:

[David Senra @FoundersPodcast]

James Dyson on how his mind works:

[Eric Burnside @ejburnside]

Most financial advisors reluctantly service 401(k) plans, if they do at all. What they earn in compensation on a 401(k) plan is not compelling relative to other lines of business, especially retail or high net worth advisory and financial planning

[Eric Burnside @ejburnside]

Building a “Product Shelf” app in https://t.co/ZAvPIAFM2P to make it easier for sales reps to learn about our service solutions, product partnerships, distribution channels, pricing and other important information. It’s an effort to get what’s in my head, down on paper

[Eric Burnside @ejburnside]

@WilsonCompanies Here for the responses

[Eric Burnside @ejburnside]

I honestly thought 64 was a bad score before I looked it up in Google

[Eric Burnside @ejburnside]

@LoganGrafTax Saying no to things that aren’t making you money is the first step

[Eric Burnside @ejburnside]

@elonmusk Here are some receipts. President and CEO of Acacia Network was making $1m year overseeing shelter operations in NYC and other states.

https://t.co/chyWxs7ywW

[Eric Burnside @ejburnside]

In 2018 we paid 50% of our employees health premium. It cost us $3,666 per employee per year. In 2025, we’ll pay 100% of the medical premium costing us $6,864 per employee per year. It’s been a goal of mine to get to 100% subsidy

[Eric Burnside @ejburnside]

Received a proposal from a PR firm to handle communications around a transition in leadership. They want to charge for $11,700 for this SOW. I don’t know man, seems like a lot to me

[Eric Burnside @ejburnside]

When you buy a house and live in it, you don’t just call yourself a renter

I don’t get the obsession of trying to make this distinction

If some else would buy your business, you are a business owner

Who cares if that also means you have a demanding job?

[Kyle Mau @KyleMau]

Most business owners don’t have a business but simply a really demanding job.