Podcasts about employee stock ownership plans esops

Given private equity's reach (1 in 25 work for a business owned by a PE firm), the industry has the power to shape work culture at scale, for better or for worse. And ironically, that's exactly why Pete Stavros, co-head of global private equity for KKR, thinks he's in a unique position to bring employee ownership to the mainstream. Pete's goal? To dramatically expand the number of Employee Stock Ownership Plans (ESOPs) that grant ownership shares to workers: “Imagine how different our economy and our country would be if workers owned a slice of every company in America.” Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/esops. Money with Katie's mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs. — All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Alpha is an AI research tool powered by GPT-4. Output from Alpha is not investment advice and should be verified for accuracy.  APY as of 3/13/25,  subject to change. *Terms and Conditions apply. Learn more about your ad choices. Visit megaphone.fm/adchoices

Business owners planning their next chapter often face a tough decision: how to exit without compromising their legacy or selling to private equity.As baby boomers age out of ownership, many are turning to Employee Stock Ownership Plans (ESOPs) for their unique blend of liquidity, tax benefits, and cultural continuity. Yet, understanding the mechanics and long-term impact of an ESOP can feel overwhelming.Join Matt Di Francesco and Kelly Finnell, Premier ESOP Consultant and President at EFS ESOP Consultants, as they explore how ESOPs offer business owners a powerful way to exit on their terms—while turning employees into owners and preserving what matters most.Matt and Kelly also talk about:(02:30) Why are more business owners turning to ESOPs(05:45) What is an ESOP?(06:29) Three key ways ESOPs provide more than just a retirement plan(07:58) How ESOPs provide a powerful performance incentive(08:19) Can a 401(k) and an ESOP work together?(09:33) How are ESOP shares distributed among employees?(10:56) How ESOP shares are valued(12:28) Who should be the trustee of your ESOP trust(19:03) Why 95% of 100% ESOP-owned companies are S-Corps(22:03) What type of business would be a good candidate for an ESOP?(26:26) The four key questions addressed during the ESOP feasibility study() How long does an ESOP feasibility study and implementation take?Connect With Kelly FinnellLinkedIn: https://www.linkedin.com/in/esopcoach/Website: https://execfin.comOrder Kelly's book - The ESOP Coach here: https://www.amazon.com/ESOP-Coach-Ownership-Succession-Planning/dp/0578046997Check out these other resources as referenced in this episode:National Center for Employee Ownership - https://www.nceo.org/The ESOP Association of America - https://www.esopassociation.org/Connect With Matt DiFrancesco:matt@highliftfin.com(814)201-5855LinkedIn: Matt DiFrancescoLinkedIn: High Lift FinancialFacebook: High Lift Financial Instagram: @high_lift_financialYoutube: @highliftfinancialAbout the guest:Kelly Finnell is widely regarded as the nation's premier ESOP consultant, with over 40 years of experience helping business owners design and implement Employee Stock Ownership Plans. He has presented at more than 300 conferences across the U.S. and internationally, sharing his deep expertise in ESOP strategy and succession planning.Kelly is the author of The ESOP Coach: Using ESOPs in Ownership Succession Planning, published in 2010—a definitive guide that continues to be a go-to resource in the field today. He is also an Accredited Investment Fiduciary®, a designation awarded through the Center for Fiduciary Studies at the University of Pittsburgh, demonstrating his commitment to always acting in the best interest of his clients.A magna cum laude graduate of the University of Memphis, Kelly brings both academic rigor and decades of hands-on experience to every engagement. If you're considering an ESOP for your business, Kelly is truly the guy you want in your corner.Disclaimer:All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Tom Totten, an actuary and serial entrepreneur, shares his journey from a defined benefit consultant to advising companies on Employee Stock Ownership Plans (ESOPs). The conversation delves into the intricacies of ESOPs, their guarantees, and the liquidity risks associated with them. Tom discusses the purpose of lifetime income strategies, including the use of annuities, and reflects on the evolving relationship between employers and employees in the context of retirement planning. In this conversation, the speakers discuss the benefits of including lifetime income solutions in retirement planning, emphasizing the role of the workplace in providing these solutions. They explore the challenges of communicating the value of lifetime income to pre-retirees and retirees, the impact of technology on retirement planning, and the benefits of diversification in investment strategies. The discussion also touches on the potential of ESOPs as a means of wealth creation for employees and the evolving landscape of retirement planning in light of alternative investments.

Employee Stock Ownership Plans (ESOPs) are one of the best-kept secrets in business succession planning. In this episode, Laurie Barkman sits down with Dan Zugell, Senior Vice President at Business Transition Advisors and a nationally recognized expert in ESOPs, to explore how these plans create financial value, enhance employee engagement, and offer unique transition options for business owners. Dan shares insights on the financial benefits of ESOPs—like tax advantages and wealth creation—as well as the often-overlooked social impact of employee ownership, including reduced turnover and stronger workplace culture. He also debunks common misconceptions, such as the idea that ESOPs require 100% ownership transfer or that they lack exit opportunities. If you're a business owner considering succession strategies, or simply curious about how ESOPs can transform a company's future, this episode is for you!

Building Legacy and Profit: Exploring ESOPs with Kelly Finnell If you've ever wondered how to sell your business while preserving its legacy and empowering your team, this episode is for you. Kelly Finnell shares decades of expertise to help you understand ESOPs and their role in ownership succession planning. Whether you're planning an exit or looking to create long-term value, this episode will give you the tools to make informed decisions. Host: Marcia Riner, Business Growth Strategist - Infinite Profit® Guest: Kelly Finnell, ESOP Consultant - Executive Financial Services, Inc.     Episode Summary: In this episode of Profit with a Plan, host Marcia Riner dives into the transformative power of Employee Stock Ownership Plans (ESOPs) with Kelly Finnell, one of the nation's premier ESOP consultants and the author of The ESOP Coach. Kelly shares the benefits of ESOPs as an exit strategy, a management transition tool, and a wealth-building opportunity for employees—all while preserving your business legacy. Whether you're exploring liquidity options or considering how to secure your company's future, this episode offers actionable insights to help you make informed decisions. Episode Highlights: [00:01:10] What is an ESOP? Kelly defines ESOPs as Employee Stock Ownership Plans, explaining their dual purpose as an exit strategy for business owners and a retirement plan for employees. Learn how ESOPs differ from traditional 401(k) plans and why they're a unique option in ownership succession planning. [00:06:30] The Key Benefits of ESOPs Kelly breaks down three key features that set ESOPs apart: Borrowing capability for financing transactions. Stock purchase transactions with the business owner. Exclusive focus on the sponsoring company's stock. [00:12:45] How ESOPs Create Win-Win Scenarios Discover how ESOPs align employee efforts with company profitability, creating a sweat-equity-based retirement plan that motivates employees and drives growth. [00:18:30] Timing Your Transition Kelly advises business owners on when to implement an ESOP, emphasizing the importance of starting at least five years before a planned exit. Learn how an ESOP serves as a glide path for ownership transitions and leadership development. [00:22:50] ESOP Suitability for Small and Mid-Sized Companies Kelly outlines the ideal candidate for an ESOP, focusing on businesses with $1M+ in adjusted EBITDA and at least 30 employees. Hear real-world examples of successful ESOPs, including companies like Publix Supermarket and BDO. [00:29:15] Tax Benefits of ESOPs Explore how ESOPs allow companies to operate tax-free, offering significant advantages at both the corporate and shareholder levels. Kelly shares how Congress incentivizes wealth-sharing through ESOPs and why this strategy appeals across political lines. [00:35:00] Dispelling Common ESOP Myths Kelly addresses misconceptions, such as fears of employee-run committees and the complexities of transitioning to an ESOP structure. Gain clarity on how ESOPs maintain effective leadership and governance. [00:40:20] Steps to Get Started with an ESOP Kelly shares actionable advice for business owners considering ESOPs: Evaluate if your company meets the criteria. Build a leadership team to guide the transition. Leverage resources like his book, The ESOP Coach, and ExecFin.com for deeper learning. Call-to-Action: Ready to explore how an ESOP could work for your business? Visit Kelly Finnell's website, ExecFin.com, for more resources, videos, and articles. Check out his book, The ESOP Coach, on Amazon for an in-depth guide.   Subscribe and Share: Make sure to subscribe to Profit with a Plan on your favorite podcast platform and share this episode with other entrepreneurs exploring exit strategies. Your business legacy starts here!   Keywords: ESOPs (Employee Stock Ownership Plans), Ownership succession planning, Exit strategy for business owners, Employee ownership, Business legacy, ESOP benefits, ESOP tax advantages, Small and mid-sized businesses, Retirement planning for employees, ESOP transactions, Selling to employees, Liquidity strategies for businesses, Business succession planning options.   This episode is sponsored by Infinite Profit ® —We don't just talk profit — we deliver it! Is your business ready for explosive growth? Visit InfiniteProfitConsulting.com to learn how Marcia and her team can help you boost profits and set your business up for long-term success.     Grab Your Free Resource: Feeling like you're doing everything right but still not seeing the results you want? It might be time for a fresh perspective. That's why we're offering a Free Growth & Marketing Audit. In one powerful session, we'll uncover opportunities to drive real growth for your business. Ready to make an impact? Visit profitbooster.biz and let's get started!     About Marcia Riner.  She is a business growth strategist who helps business owners dramatically increase their revenue, profit, and the value of their company. In fact, she can show prospective clients a clear pathway to profit and an impactful ROI for working here before hiring her firm. Through her proven Profit Booster® strategies, she gets results. Marcia is the CEO of Infinite Profit® and more information can be found at https://www.InfiniteProfitConsulting.com Got questions?  Reach out to Marcia and her team at (949) 229-2112 ♾️

This session provides a comprehensive understanding of executive pay structures, legal frameworks, and employee benefits management. It emphasizes compliance with regulations and the strategic use of compensation and benefits to attract and retain talent. Key Topics Covered Executive Compensation: Includes base salary, stock options, bonuses, and severance packages (e.g., golden parachutes, golden handcuffs). Employment Regulations: Key laws such as the Fair Labor Standards Act (FLSA), Equal Pay Act, Pregnancy Discrimination Act, and Family and Medical Leave Act (FMLA). Employee Benefits: Coverage of COBRA, HIPAA, and the Affordable Care Act (ACA), focusing on health insurance and retirement plans. Compensation Concepts: Differentiating exempt vs. non-exempt employees, permissible wage differentials, and job classifications. Motivational Incentives: Tools like discretionary and non-discretionary bonuses, gainsharing plans, and Employee Stock Ownership Plans (ESOPs). This session equips HR professionals with critical knowledge to manage compliance, design effective benefit programs, and optimize compensation strategies for organizational success.

What better time to present an encore episode like this than end of year when families are together and can address some of the serious elements that need family input. Not to mention, end of you tax concerns as well! This is a noteworthy episode for thsoe items that can easily be dismissed. Hope you find the timing helpful. Imagine inheriting the family vacation home only to find you can't afford the liabilities that come with the gift. That's just one of the critical topics we 'll dissect with Mike Genovese, a financial mastermind from CapTrust, illuminating the shadowy corners of estate planning. Together, we navigate the intricacies of California's Prop 19 and delve into the mechanisms of a Qualified Personal Residence Trust, offering a roadmap for transferring cherished assets to the next generation. Mike then bestows vital wisdom on managing estate and income taxes, the strategic use of spousal exemptions, and the nuanced balance between capital gains and preserving legacy wealth through stock portfolios. Get your notepad out as we confront the convoluted world of estate planning within the realms of second marriages—a situation that many individuals face. Our episode unravels the complexities of ensuring financial security for a new partner while honoring the legacy intent for children from previous relationships. Mike shares his expertise on bypass trusts, the role of trustees, and the use of specific type trusts for larger estates. The emphasis can't be minimizd for the necessity of crystal-clear communication and precise documentation to smooth the path through the intricate dynamics of blended families. Wrapping up the episode, the attention turns to business owners pondering their exit strategy, with a deep dive into the advantages of Employee Stock Ownership Plans (ESOPs). For the entrepreneurial spirit looking to reward loyal employees and ensure the longevity of their life's work, our discussion on ESOPs reveals a tax-efficient method of business succession. Mike and I dissect the financial mechanics, regulatory intricacies, and the tangential benefits of selling a company to those who know it best—the employees. This episode is as much a masterclass; as it is a tutorial for navigating the financial implications of life's transitions. For more information on what we provide at Captrust visit www.captrust.com. You can contact me, Kelly Brothers, through the show at: bisifipodcast@gmail.com To reach me at Captrust visit www.captrust.com/locations/sacramento-ca/

“We try to help the sellers understand what the buyer's long-term vision is, what changes they expect to make, and over what period of time, because all of these things have implications on the business but also on emotions.” – Jonathan Baker The finer details of this episode:Overview of mergers and acquisitions (M&A) in the creative agency sector.Importance of preparation for agency owners considering M&A.Insights on valuation factors influencing agency sales.Discussion on the current M&A landscape and market trends.The significance of maintaining clean financial records for M&A readiness.Exploration of deal structures and their implications, including Employee Stock Ownership Plans (ESOPs).The role of agency owners post-acquisition and the need for clear communication with buyers.Timing considerations for initiating the M&A process.The impact of economic changes on agency valuations and buyer interest.Recommendations for agency owners to proactively prepare for potential sales. Episode resources:Summit Virtual CFO by Anders website: https://www.summitcpa.net/Love our content? Sign up for our newsletter: https://www.summitcpa.net/summit-newsletterDigital Dollars and Cents: A Virtual CFO's Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddcConnect with Jonathan here: https://www.linkedin.com/in/jonathandavidbaker/Check out Punctuation here: https://punctuation.com/ Timestamps: Welcome to the Creative Agency Success Show (00:00:00)Introduction to the podcast's purpose and focus on agency owners looking to scale. Discussion on M&A Preparation (00:00:15)Insights from Jonathan Baker about the importance of preparation for mergers and acquisitions. M&A Landscape Insights (00:00:39)Hannah reflects on the evolving trends in the M&A landscape and its implications for clients. Importance of Understanding M&A (00:01:13)Discussion on how understanding the M&A process can aid clients in their decision-making. Preparation Equals Easier Transition (00:01:39)Jimmy emphasizes that being well-prepared leads to a smoother M&A process and better outcomes. Introduction of Jonathan Baker (00:02:52)Jonathan Baker shares his background and expertise in helping firms prepare for M&A. Jonathan's M&A Journey (00:04:07)Jonathan recounts his personal experience with M&A, highlighting its complexities and emotional aspects. Valuation Nuances in M&A (00:06:19)Discussion on non-financial factors influencing valuation in the M&A process. Timing for M&A Conversations (00:07:51)Jonathan advises when clients should start preparing for M&A, ideally 3-4 years in advance. Post-Sale Involvement (00:09:22)Exploration of the buyer's perspective on post-sale involvement and its implications for sellers. Preventative Maintenance in M&A (00:11:33)Strategies to help owners navigate the transition and maintain business integrity post-acquisition. Deal Structure Non-Negotiables (00:14:01)Jonathan outlines his strong recommendations against certain deal structures, particularly ESOPs. Understanding ESOP Risks (00:15:07)Discussion on the potential pitfalls of employee stock ownership plans (ESOPs) in M&A. Navigating ESOP to M&A (00:18:01)Jonathan shares the challenges and processes of transitioning from an ESOP to an M&A deal. Preparing for M&A (00:19:11)Advice on steps companies should take to prepare for a potential acquisition. Importance of Accurate Financials (00:21:20)Emphasis on maintaining clean financials to facilitate smoother due diligence during M&A. Understanding Accrual Basis Accounting (00:22:01)Importance of running financials on an accrual basis for effective M&A preparation. Trends in M&A Post-COVID (00:22:57)Discussion on inflated valuations post-COVID and current market dynamics affecting M&A. Current Market Conditions for Sellers (00:24:24)Analysis of the current M&A landscape and advice for potential sellers. The COVID Boom and M&A Opportunities (00:24:49)Reflections on the opportunities presented during the COVID boom for agencies. Fun Question About Brewery Towns (00:25:17)A light-hearted discussion on top microbrewery towns in the U.S. Cultural Significance of Local Breweries (00:26:26)Exploration of how local breweries reflect community identity and culture. Contacting Jonathan for M&A Insights (00:27:54)Information on how listeners can reach out for M&A advice and brewery recommendations. Conclusion of the Episode (00:28:05)Wrap-up of the episode and appreciation for Jonathan's insights on M&A.

Welcome back to another enlightening episode of Accelerate Your Business Growth! Today, we delve into a subject that is often misunderstood but immensely valuable for business owners: Employee Stock Ownership Plans (ESOPs). Our special guest is Kelly Finnell, president of Memphis-based Executive Financial Services, a leading ESOP consultant, and a sought-after speaker. Kelly regularly shares his expertise on employee ownership across various international platforms, and he's also the acclaimed author of "The ESOP Coach: Using ESOPs in Ownership Succession Planning."  In this episode, Kelly breaks down what an ESOP is and how it serves as both a liquidity strategy for business owners and an equity-based retirement plan for employees. He discusses the significant tax benefits of ESOPs, common misconceptions, and how company culture can play a pivotal role in their success. Kelly also shares key financial metrics to consider and provides a glimpse into the process of implementing an ESOP.  Join our host, Diane Helbig, as she uncovers the intricacies of ESOPs with Kelly, providing invaluable insights for business owners exploring the possibility of an employee-owned future. Whether you're considering selling your company or simply curious about ESOPs, this episode offers a comprehensive guide to understanding this powerful business transition tool. Be sure to download Kelly's Ownership Successor Guide. If you are a small business owner or salesperson who struggles with getting the sales results you are looking for, get your copy of Succeed Without Selling today. Learn the importance of Always Be Curious. Accelerate Your Business Growth is proud to be included on the list of the 45 Best Business Growth Podcasts. Each episode of this podcast provides insights and education around topics that are important to you as a business owner or leader. The content comes from people who are experts in their fields and who are interested in helping you be more successful. Whether it's sales challenges, leadership issues, hiring and talent struggles, marketing, seo, branding, time management, customer service, communication, podcasting, social media, cashflow, or publishing, the best and the brightest join the host, Diane Helbig, for a casual conversation. Discover programs, webinars, services, books, and other podcasts you can tap into for fresh ideas. Be sure to subscribe so you never miss an episode and visit Helbig Enterprises to explore the many ways Diane can help you improve your business outcomes and results.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Join us for a game-changing discussion with Darren Gleeman, Managing Partner of MBO Ventures, as we delve into the transformative power of Employee Stock Ownership Plans (ESOPs) for cannabis companies facing the stringent 280E tax burdens. Discover Darren's patented ESOP methodology that has helped companies like Theory Wellness navigate financial hurdles and foster employee empowerment. Darren shares his insights on: Mitigating 280E tax implications through ESOPs. Real-world impacts and case studies from the cannabis industry. The role of ESOPs in enhancing employee financial well-being and promoting social equity. This episode is a must-watch for cannabis entrepreneurs and business owners looking to understand the financial strategies that can lead to sustainability and growth in this challenging market. Don't forget to subscribe for more insights into cannabis business strategies and stay informed about the latest industry trends. =================== About Cannabinoid Connect Thought-provoking discussions, expert insights, and captivating stories shaping the future of this transformative industry. Subscribe and follow via the following platforms: Website Spotify Apple Podcasts YouTube X Instagram Facebook TikTok

Is an executive or leader in your company struggling? Reach out to Eric to discuss how his transformative executive coaching approach can help. Schedule a 10 minute call with Eric today to learn more: 10minuteswitheric.youcanbook.me Employee Stock Ownership Plans (ESOPs) are a topic many construction companies consider when planning their business transitions. ESOPs are a proven strategy that allows owners to leverage the wealth they've built through hard work and dedication. An 831(b) plan, commonly known as captive or microcaptive insurance, is intended to help business owners reduce unfunded liabilities. SRA utilizes the 831(b) Tax Code to create tax-deferred risk mitigation and give business owners greater peace of mind. Van Carlson is the founder and CEO of SRA 831(b), with 25 years of experience in the risk management industry. His goal is to continue SRA's upward growth while also developing novel products for the market. He joined us today to discuss how to fund uninsured risks without hurting cash flow. We start the conversation with Van explaining the 831(b) risk management strategy along with the benefits businesses can gain from it. Then we talk about the significance of motivation in financial advice. Risk management should be the primary focus rather than merely seeking tax advantages to avoid potential scrutiny from the IRS. Van then kindly explains the common mistakes people make when setting up an 831(b), especially in the construction industry: proper ownership structure and motivation. We then pay attention to the challenges of exiting an 831(b) plan, where Van explains how they make a simple exiting process. Further down to the conversation, we discuss the following topics regarding 831(B) risk management strategy: solvency testing, the services 831(b) provides and are unavailable through traditional insurance options, alternatives for 831(b), and the type of businesses that might not be suitable for an 831(b).   EPISODE HIGHLIGHTS [02:13] What is 831(b) risk management strategy?  [04:43] What 831(b) provides for construction companies [08:52] The importance of the motivations behind financial advice  [10:35] The common mistakes [14:33] Solvency testing [18:41] Challenges of exiting an 831(b) plan  [20:31] What unique services do 831(b) offer that aren't available through conventional insurance options? [26:23] The types of companies aren't suitable for the 831(b) [27:17] Alternative risk management strategies [28.48] The red flags  KEY TAKEAWAYS Evaluate Motivations  Clarify Ownership Structures  Prioritize Risk Management  Participate in Solvency Testing  Choose the Right Insurance Agent   Are people problems eroding your company's profits? Discover proven strategies to lead, strategize, and sell effectively, ensuring your projects stay profitable. Elevate your construction business by purchasing Construction Genius: Effective, Hands-On, Practical, Simple, No-BS Leadership, Strategy, Sales, and Marketing Advice for Construction Companies today and turn your people problems into profit!: https://www.amazon.com/Construction-Genius-Effective-Hands-Leadership/dp/B0BHTRDY1T/ Is an executive or leader in your company struggling? Reach out to Eric to discuss how his transformative executive coaching approach can help. Schedule a 10 minute call with Eric today to learn more: 10minuteswitheric.youcanbook.me   RESOURCES Connect with Van LinkedIn - linkedin.com/in/vancarlson/ Website - 831b.com/   

In this episode of Let's Get Surety®, we explore the world of Employee Stock Ownership Plans (ESOPs) with Jim Tressel and Travis Remick of Liberty Mutual Surety. They discuss the unique aspects of ESOPs, and the factors contributing to their current prominence. Our guests provide insightful considerations for selecting an ESOP consultant, understanding valuation processes, the significant role ESOPs can play in a company's succession strategies, as well as the value of including the surety early in the process. For more information on ESOPs, check out this NASBP Virtual Seminar mentioned during this episode, "Employee Stock Ownership Plans (ESOP): What You Should Know." With special guests: James (Jim) Tressel, Senior Vice President and Chief Underwriting Officer, Liberty Mutual Surety and Travis Remick, Chief Underwriting Officer, Contract Surety, Liberty Mutual Surety Hosted by: Kat Shamapande, Director, Professional Development, NASBP and Mark McCallum, CEO, NASBP Sponsored by Old Republic Surety!

In this episode, hotel investor and Hospiamo founder Adam Zembruski shares his insights on the systemic barriers that hold hoteliers back and the practical steps needed to foster a more creative and collaborative culture in hotels.Listeners will learn:The reasons why collaboration is often an afterthought for hotel owners and how to change that mindset (01:37)The importance of encouraging creativity among hotel employees (05:32)A real-world example of successful collaboration in the town of Boone, North Carolina (06:15)The key role of involving the community in major decisions when opening a new hotel (09:28)Mentions:Hilton (01:47)Marriott (01:47)Horton Hotel in Boone, North Carolina (06:36)Jason Boehm with Aileron Management (06:57)Andrea Morton and John Cardonia (06:57)David Jackson, Chamber of Commerce in Boone, North Carolina (07:30)Appalachian State University (07:51)Denise Loven and Fulton Loven, builders of the Horton Hotel (08:12)Employee Stock Ownership Plans (ESOPs) (11:42)Publix (11:53)Chote, a construction company in Atlanta and Charlotte (13:21)TPI Hospitality in Minnesota (13:52)Proximity Hotel in Greensboro, North Carolina (14:03)A few more resources: If you're new to Hospitality Daily, start here. You can send me a message here with questions, comments, or guest suggestions If you want to get my summary and actionable insights from each episode delivered to your inbox each day, subscribe here for free. Follow Hospitality Daily and join the conversation on YouTube, LinkedIn, and Instagram. If you want to advertise on Hospitality Daily, here are the ways we can work together. If you found this episode interesting or helpful, send it to someone on your team so you can turn the ideas into action and benefit your business and the people you serve! Music for this show is produced by Clay Bassford of Bespoke Sound: Music Identity Design for Hospitality Brands

Host Rich DiPaolo discusses succession planning with Dave Haupt from Red Rock Tax and Consulting Group. In this episode, we begin by discussing the essential elements of a strong succession plan and how owners can prepare for a smooth transition. Haupt shares insights into the different types of trusts, such as dynasty trusts, charitable remainder trusts, and grantor retained annuity trusts (GRATs), and how they can help in passing down a business to future generations. We also explore key business exit strategies, including the 1031 exchange and Employee Stock Ownership Plans (ESOPs), highlighting the long-term tax benefits of each. Haupt offers practical advice on how owners can enhance their business' value to attract buyers or heirs before selling or passing it on. The episode also delves into provisions like the step-up in basis upon death and the annual gift exclusion, helping owners minimize tax impacts on heirs. Finally, Haupt discusses common mistakes business owners should avoid when handing down their businesses. Tune in for expert guidance on planning for the future and ensuring a successful business transition. For 1031 exchange help, please visit www.1031exchangesite.com.

Is an executive or leader in your company struggling? Reach out to Eric to discuss how his transformative executive coaching approach can help. Schedule a 10 minute call with Eric today to learn more: 10minuteswitheric.youcanbook.me Employee Stock Ownership Plans (ESOPs) are a topic many construction companies consider when planning their business transitions. ESOPs are a proven strategy that allows owners to leverage the wealth they've built through hard work and dedication. Kelly Finnell, J.D., CLU, AIF, is one of the nation's premier Employee Stock Ownership Plan (ESOP) consultants. For over four decades, he has been assisting business owners in creating and implementing ESOPs. He has spent decades discussing ESOPs with corporations and groups, giving presentations at over 300 conferences and meetings in the United States and internationally in London and Sydney. His company, Executive Financial Services, is a national ESOP consulting firm founded in 1981 and headquartered in Memphis, Tennessee. Their diverse team of experienced professionals is focused on utilizing Employee Stock Ownership Plans (ESOPs) for Ownership Succession Planning and possesses deep expertise in this specialized area. He joined us today to talk about the process of building a successful ESOP. We start the conversation with Kelly explaining the biggest challenge in ESOPs: understanding what an ESOP is. Kelly further shares that business owners, especially in the construction industry, need to be patient and prepared for a steep learning curve. An ESOP serves both as a qualified retirement plan and as a liquidity strategy for current owners. Kelly then explains who would best fit ESOPS, saying that it is typically best suited for business owners seeking a gradual exit over five to eight years. For owners wanting to walk away and not look back, a third-party sale would be more appropriate. We then pay attention to the cultural transition that comes with an ESOP. Kelly shares that companies that prioritize maintaining their culture after a sale are ideal candidates for an employee stock ownership plan. Unlike third-party sales, which often lead to cultural shifts that can alienate both employees and customers, an ESOP facilitates an internal transition that helps preserve the existing culture. Further into the conversation, we cover the following topics regarding building a successful foundation for ESOP: ESOP failures and how to avoid them, the initial steps of getting familiar with ESOP, how to address the challenges that come with active and inactive children in a family-owned business, how to navigate personal guarantees.   EPISODE HIGHLIGHTS [02.01] Understanding what an ESOP is.  [06.21] Risks to be aware of when building a foundation for ESOP. [08.39] The standard time frame for exiting a company.  [10.50] The importance of effective communication when implementing an ESOP. [15.15] How to keep employees engaged in the ESOP process during the early years? [18.03] Cultural transition and ESOP.  [25.08] Avoiding ESOP failure.  [27.26] The first steps of getting familiar with ESOP. [31.11] Retirement planning.  [33.48] Addressing challenges regarding active and inactive children in a family-owned business.  [38.17] Navigating personal guarantees.   KEY TAKEAWAYS Consider your desired level of involvement post-sale when choosing an exit strategy. Effective communication and education are crucial when implementing an ESOP. Celebrate and Educate Prioritize Company Culture Start with Education and Expert Guidance   Are people problems eroding your company's profits? Discover proven strategies to lead, strategize, and sell effectively, ensuring your projects stay profitable. Elevate your construction business by purchasing Construction Genius: Effective, Hands-On, Practical, Simple, No-BS Leadership, Strategy, Sales, and Marketing Advice for Construction Companies today and turn your people problems into profit!: https://www.amazon.com/Construction-Genius-Effective-Hands-Leadership/dp/B0BHTRDY1T/ Is an executive or leader in your company struggling? Reach out to Eric to discuss how his transformative executive coaching approach can help. Schedule a 10 minute call with Eric today to learn more: 10minuteswitheric.youcanbook.me   RESOURCES Connect with Kelly LinkedIn – linkedin.com/in/esopcoach/  Website - execfin.com/ Book: The ESOP Coach - Using ESOPs in Ownership Succession Planning National Center for Employee Ownership  

Kelly Finnell is a leading expert in Employee Stock Ownership Plans (ESOPs) with over 40 years of experience. As one of the nation's premier ESOP consultants, Kelly has designed and executed numerous ESOPs and has shared his expertise at more than 300 conferences and meetings globally, including in London and Sydney.In 2010, Kelly authored "The ESOP Coach: Using ESOPs in Ownership Succession Planning," the most comprehensive guide on ESOPs available today. He has also published numerous articles on the subject, further establishing his authority in ownership succession planning.Kelly's firm, Executive Financial Services, established in 1981 and based in Memphis, Tennessee, is dedicated exclusively to ESOPs. With a highly qualified team, they have successfully executed transactions in 38 cities across 19 states, focusing solely on ESOPs.SHOW SUMMARY In this episode of the Disruptive Successor podcast, host Jonathan Goldhill is joined by Kelly Finnell, a leading ESOP consultant, to discuss the intricacies and benefits of Employee Stock Ownership Plans (ESOPs) as an effective business succession strategy. Kelly provides insights into how ESOPs function, their tax benefits, the impact on company culture, and the feasibility for various business types. He also addresses common myths and concerns related to ESOPs, offering real-world examples and case studies. This episode aims to provide next-generation leaders and entrepreneurs with valuable information on leveraging ESOPs for successful business transitions while fostering employee ownership.KEY TAKEAWAYSIntroduction to ESOPs: An Employee Stock Ownership Plan (ESOP) is a form of retirement plan that invests primarily in the stock of the sponsoring employer, providing both an exit strategy for business owners and benefits to employees.Target Companies: ESOPs are ideal for small to mid-sized companies with stable and predictable revenues, typically with at least $2 million in EBITDA. They are particularly beneficial for professional services firms.Tax Benefits: Significant tax advantages exist for both the selling owner (potential deferral or elimination of capital gains taxes) and the company (operating tax-free if it's an S corporation).Financing ESOPs: The ESOP is fully financed by the company, not by the employees, making it possible for employees to become owners without needing to invest their own money.Ownership Culture: ESOPs promote an ownership culture within the company, aligning employees' interests with the company's success, which can lead to increased productivity and motivation.Succession Planning: ESOPs can be used effectively in family businesses to manage generational transitions, ensuring fair distribution of the estate among family members.Feasibility and Implementation: The process begins with a feasibility study to evaluate the potential outcomes and involves significant communication and education efforts to ensure employee buy-in and understanding.QUOTES"ESOP solves that problem: it is entirely financed by the company. The employees don't come out of pocket with any money. It's a benefit plan for them, not an investment plan.""I always tell business owners that the best candidate for an ESOP is a company where the owner comes in late, takes a long lunch, and leaves early.""You have to have a strong successor management team.""The reason the ESOP outperforms is because with an ESOP, you're getting a leveraged rate of return on the employee's accounts.""If a business owner sells to private equity, the way the government would look at that is you have a rich person selling to other rich people."Connect and learn more about Kelly Finnell.LinkedIn: https://www.linkedin.com/in/esopcoach/If you enjoyed today's episode, please subscribe, review, and share with a friend who would benefit from the message. If you're interested in picking up a copy of Jonathan Goldhill's book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

Learn what it takes to build a business that can thrive without you. Imagine the freedom and financial security that comes with creating a company that continues to prosper even when you're not at the helm. Uncover the secrets to achieving this by focusing on building enterprise value, pinpointing weaknesses, and implementing effective training programs to prepare for succession. Claudio shares personal stories and the invaluable role mentors play in guiding you through the complexities of scaling your business. Whether you're planning your exit strategy or contemplating a contingency plan, gain crucial insights to make your business more attractive to potential buyers while setting the stage for generational wealth.Delve into the nitty-gritty of strategic planning for selling a business, covering essential elements like tax planning, asset protection, and estate planning. Learn about various exit strategies, including internal sales through Employee Stock Ownership Plans (ESOPs) and external sales, ensuring a seamless transition and maximizing your financial returns. Lastly, we emphasize the importance of well-defined succession plans to secure your business's long-term success. This episode is packed with actionable advice designed to help you align your cash flow management with your overarching vision, ultimately creating a legacy that lasts.#Entrepreneurship #EnterpriseValue #BusinessSuccess #SuccessionPlanning #BusinessGrowth #GenerationalWealth #BusinessExitStrategies #ScalingYourBusiness #TaxPlanning #EstatePlanning #InternalSales #ExternalSales #ESOP #ContingencyPlanning #FinancialServices #WealthManagement #BusinessMentorship #AssetProtection #ExitStrategy #BusinessOptimization #CashFlowManagement#InvestTheDifference #PodcastConnect with Claudio: https://www.instagram.com/claudgambin/Invest The Difference is sponsored by GFG Solutions: https://gfgsolutions.com/GFG Solutions is dedicated to providing peace of mind, clarity, and happiness to business owners and managers. We offer comprehensive financial services, including tax preparation, bookkeeping, payroll, and more, to help businesses meet their financial responsibilities. Additionally, our consulting services help businesses align their decisions with their financial goals for optimal success.

If you are thinking about who is going to buy your business, you have already dealt with the significant core perception necessary for business strategic planning: that inevitably, voluntarily or involuntarily, with good results or bad, you will transfer your business interest. The reality check for the owner-manager of a business is the perception of and planning for the inevitable transfer of the business interest. Coming to this realization is the basis for the Prior Diligence strategy. The owner and the business will separate, the principal unknown factor is when and what happens to business value. If you are the owner of a business interest in a profitable small to medium sized business, your primary concern should be to realize the maximum value from that interest. To be precise, “realize maximum value” means receiving the most net cash for that interest thereby converting the value in the business interest from a high risk business ownership to a personal asset held at a relatively low investment risk. This is when the sale of a business interest is a wealth-building event. The Prior Diligence strategy enables that wealth building event. The Prior Diligence strategy is described in a series of posts on the Substack called Owning a Business (rickriebesell.substack.com). Business strategy cannot be effective if there is a denial about the inevitability of the transfer of the business. Once the inevitable transfer is acknowledged, even though the time may be impossible to know, the probable buyer and the terms of the transfer, may be envisioned. Business strategy should have a primary goal of formulating the transfer of the business to known and probable buyers for the highest possible price. This is the essence of being able to realize maximum value for the business interest of the owners of the business. In finding a buyer, it is helpful to ask: “Do I know anyone who will give me cash for my business interest?” For most businesses, the logical purchaser is someone who knows the business and is capable of raising the cash to make the purchase. Very likely, this person is already a part of the business. Moreover, it will be easier to identify a buyer when the buyer is someone you know and someone who is familiar with the business. There is, however, a downside to selling to someone already involved in the business. Someone in the business knows certain things that persons outside the business will pay to learn. Put another way, there are certain items of know-how or goodwill that an inside buyer will not pay for because the buyer already knows them. A person outside the business, a third-party buyer, will pay for this knowledge. Therefore, to maximize the price (the value received for the business) ideally the sale should be to a third-party buyer. Do you know third-party buyers? Probably not. If you do not know a third-party buyer, then find one. But this search will take time, and the planning for it should be part of the strategic plan. What do you do in the interim? If you die or become disabled in this interim time what happens to the value in your business? How will it pay out to your family? For the interim, the probable buyers will be the only ones known, the ones already involved in the business and who may already be owners. There should be an owner agreement in place to assure a value for each business interest. For foreseeable trigger events (for example, death, disability, termination of employment, or withdrawal) there should be an enforceable sale at an acceptable price to provide assurance of value to each owner. The owner agreement, in addition to establishing an assured insider sale for interests in the business, also needs to provide for a transfer of a controlling, if not a total interest, to a third-party buyer. Most of the time, for all owners, receiving the maximum value for their business interests will be in the best interest of all. To find the unknown third-party buyer, you need to role play. There are certain groups that usually contain buyers for a business: competitors, similar businesses in other markets seeking growth, and investors. Place yourself in their position, assume a requirement of rationality, and ask: “Would you buy the business interest?” If not, then ask: “Why not?” If the purchase of the business interest does not make sense, the first task is to meet the rationality test: the purchase of the business interest you have for sale must make sense for a third-party buyer. In making this determination you will be directed toward people who would have an interest. You need to interact with these potential purchasers to see if your role playing was accurate. Again, ask “Why not?” if there is no interest. This feedback is the most reliable feedback you will ever obtain about how well your business is managed. As the owner of a small to medium sized business, there is no better way to plan and manage your business than with the contemplated buyer looking over your shoulder. Accounting must be current. Human resources records up to date and in compliance. All regulatory requirements must be met. Taxes must be paid up to date. The same diligence checklist a sophisticated buyer would use should be used to check the status of the business. This is an important part of the Prior Diligence strategy. When you approach planning and management with the perspective of a potential buyer, you will see the things to do that make the sale more attractive. The business will become more valuable and will be sold for a higher price when the inevitable sale must take place. Rather than denying the inevitable separation of the owner from the business will happen, plan for the sale and provide for a transfer for maximum value to a third-party buyer.  Who might this buyer be? Small to medium-sized businesses can be attractive acquisition targets for various types of buyers including individuals, private equity firms, strategic buyers, family offices, holding companies, search funds, and employees. Individual buyers are often professionals with industry expertise looking to own and operate their own business. They may use personal savings, 401(k) rollovers, or SBA acquisition loans to fund the purchase. Individual buyers typically target businesses with under $2 million in profit. Individual buyers outside the business will likely be involved in the industry of the business and may even be known to owners of the business. Private equity firms use investor capital to acquire businesses. While they usually focus on larger companies, some private equity firms look for "bolt-on acquisitions" of smaller businesses to add to their existing portfolio companies. They may consider businesses with as little as $5 million in profit. Identifying these firms involves finding recent transactions of small to medium sized businesses and understanding the basis of the transactions. Strategic buyers are other companies, often in the same or related industries, looking to expand their operations, gain market share, or acquire new technologies or capabilities. Often a competitor is the strategic buyer for a business – to expand a market or consolidate operations. Family offices manage the wealth of a single wealthy family and may invest in businesses related to the industry that generated the family's wealth. They tend to have longer investment horizons and take less active roles in management compared to private equity firms. Family offices often are looking for increased returns than could be obtained with traditional investments, but will also want stability and consistent profitability. Holding companies are companies that exist primarily to own other businesses. They generate revenue from the dividends and earnings of the companies they own. Holding companies often look to synergy opportunities between the companies they own. Search funds typically consist of an individual (often a sophisticated manager) backed by investors, looking to acquire and operate a business. A search fund is often looking for a project that involves an opportunity that can be pursued with an existing business structure. Employees can gradually become owners of the business through Employee Stock Ownership Plans (ESOPs). An ESOP can work very well in the right situation, but these situations are not frequent and an ESOP that does not work can be disastrous to the future of the business. Realize that it is inevitable that you will transfer your business interest. Keep a constant vigilance to recognize who might be a third party buyer of your business who will pay cash for the maximum value of your business interest. Use the perspective of a likely third-party buyer to better understand how to make your business more valuable. Practice Prior Diligence to assure proper financial documentation, accurately valued assets, and a management team in place. These factors can make the business more attractive to potential buyers, help ensure a smoother sale process, and accomplish a wealth-building event.

In this episode of the Better Leadership team Show, I chat with Jeremy Huish, VP at Corporate Transition Consulting, about the benefits of Employee Stock Ownership Plans (ESOPs). Jeremy shares his journey from tax attorney to ESOP advocate, explaining how ESOPs benefit business owners, companies, and employees.Jeremy Huish started his career as a tax attorney.  After years of being an attorney and consulting, Jeremy realized that the largest transaction his clients will ever do is to sell their business, and the largest tax bill that these clients face is the tax bill on that business sale.  He then fell in love with Employee Stock Ownership Plans, also known as ESOPs, because that transaction benefits the owner, the company, and all the rest of the employees who never had a chance to own a business.  www.corptc.com Thanks for listening! Connect with us at mike-goldman.com/blog and on Instagram@mikegoldmancoach and on YouTube @Mikegoldmancoach

In this episode of The Faces of Business, Patti Plough—The ESOP EVANGELIST—President of Excel Legacy Group, LLC, shares invaluable insights on how an ESOP may be a great way for you to protect your business legacy and how the ESOP made their business exit great.   Patti is a distinguished entrepreneur and business leader with over three decades of experience in healthcare and wellness. As the President of Excel Legacy Group, she specializes in guiding businesses through the transformative process of establishing Employee Stock Ownership Plans (ESOPs), ensuring long-term   Check out the Blog post here: Protecting Your Business Legacy with an ESOP   Thanks for taking the time to listen today.   Find Damon Pistulka on LinkedIn talking about life & building businesses you can sell or succeed.    On Twitter as @dpistulka with inspiration and sharing thoughts.    Find out more about Damon when he's not working.  @damonpistulka on Instagram, or Damon Pistulka on Facebook.      More information on building businesses you can sell or succeed and the Exit Your Way method on our website   View our blog page for this episode here.   Email us for more information info@exityourway.com

In today's episode, Daniel is joined by Todd Leverette, an indisputable authority on employee stock ownership plans (ESOPs). Todd's insights into the intricate dynamics of ESOPs leave no doubt about their transformative potential.Todd is a founding partner of APIS & Heritage Capital Partners. APIS & Heritage invest in companies going through ownership transitions to implement Employee Stock Ownership Plans (ESOPs), which aim to empower employees by giving them a stake in the company's success.Join us as Daniel engages in a captivating discussion with Todd Leverette, uncovering the complexities of employee ownership and its significant implications for wealth creation and corporate resilience.

In this episode of the Startup Operator Roundup, Roshan and Gunjan delve into the hottest headlines from India's burgeoning startup ecosystem. They cover a variety of topics including a feud between Ola and Microsoft, highlights from Microsoft's Build Developer Conference, and Google's potential acquisition of HubSpot.  The show features insightful views on the strategies and implications of these developments, along with some engaging cricket commentary and industry gossip. 00:00 Introduction00:34 A Quick Movie Recommendation: Aavesham00:52 India's Startup Ecosystem: Feuds, Acquisitions, and Innovations04:00 Microsoft vs. Ola: A Feud Over Cloud Infrastructure09:08 Microsoft's Build Developer Conference Highlights11:27 Google's Potential Acquisition of HubSpot16:53 Celebrating Founders and Big Acquisitions17:49 Google's Drone Ventures in India18:10 The Surge of Drone Startups and Policies in India20:29 The Growing Appeal of Indian IPO Markets for Tech Companies24:04 The Rise of Tech-Based Insurance Companies in India27:27 Employee Stock Ownership Plans (ESOPs) and Their Impact28:41 A Week in Fintech Fundraising29:35 The Debate on Founders' Time Investment in Podcasts and Events32:56 Closing Remarks and Call to Action Connect with Us: Linkedin: https://www.linkedin.com/company/startup-operator​Twitter: https://twitter.com/OperatorStartup​​ ------------------------------------- If you liked this episode, let us know by hitting the like button and share with your friends and family. Please also remember to subscribe to our channel and switch on the notifications to never miss an episode!

Unlock some unique employee benefits to help drive a dedicated and driven workforce as we sit down with Nate Moody from LaBelle and Harriman. In the rapidly evolving job market, learn how companies are moving beyond the norm to provide holistic support systems to their employees.  This includes everything from tackling student loan debt with expanded Section 127 plans to cultivating a shared sense of ownership through Employee Stock Ownership Plans (ESOPs). Learn some of the innovative strategies at play in the world of employee perks, as our conversation with Nate sheds light on the trend towards flexibility, authenticity, and personalization in the workplace.

In this episode of Small Biz Florida, we delve into the world of employee ownership and the innovative methods available for transitioning businesses, featuring experts Roy Messing, Director of State Center Operations at Employee Ownership Expansion Network  and John Burgess, Principal at Jackson Lewis. With the looming "silver tsunami" of baby boomer business owners looking to exit, succession planning has become crucial. Roy and John shed light on Employee Stock Ownership Plans (ESOPs), a compelling option for business owners seeking to maintain their legacy while engaging employees.   The conversation underscores the importance of raising awareness about employee ownership and provides insights into the process of initiating this transformative journey. Roy and John offer valuable resources and guidance, emphasizing the collaborative and supportive nature of the employee ownership community.   This episode of Small Biz Florida was recorded at the 60th Annual Florida Economic Development Council Conference hosted at the Marriott Sawgrass Resort in Ponte Vedra Beach

In this episode, we focus on the complex world of Employee Stock Ownership Plans (ESOPs) in Central and Eastern Europe (CEE), examining their critical role in business growth and employee engagement. Our panel features Marija Tešić, Partner at CMS Belgrade, who brings her expertise in corporate/M&A, insolvency & restructuring, and capital market law. She will discuss the legal frameworks that underpin ESOPs in the region. Alongside her, Teodora Bobcheva, Attorney at Law at Scalefocus, showcases her experience in implementing ESOP strategies within the tech industry. Teodora will share insights into how ESOPs contribute to organizational development and enhance employee motivation. Together, they will analyze how ESOPs are vital tools for corporate strategies and crucial for retaining top talent. This episode provides a detailed look at the advantages and challenges of ESOPs, highlighting their capacity to transform businesses and benefit their workforce.

Imagine inheriting the family vacation home only to find you can't afford the liabilities that come with the gift. That's just one of the critical topics we 'll dissect with Mike Genovese, a financial mastermind from CapTrust, illuminating the shadowy corners of estate planning. Together, we navigate the intricacies of California's Prop 19 and delve into the mechanisms of a Qualified Personal Residence Trust, offering a roadmap for transferring cherished assets to the next generation. Mike then bestows vital wisdom on managing estate and income taxes, the strategic use of spousal exemptions, and the nuanced balance between capital gains and preserving legacy wealth through stock portfolios. Get your notepad out as we confront the convoluted world of estate planning within the realms of second marriages—a situation that many individuals face. Our episode unravels the complexities of ensuring financial security for a new partner while honoring the legacy intent for children from previous relationships. Mike shares his expertise on bypass trusts, the role of trustees, and the use of specific type trusts for larger estates. The emphasis can't be minimizd for the necessity of crystal-clear communication and precise documentation to smooth the path through the intricate dynamics of blended families. Wrapping up the episode, the attention turns to business owners pondering their exit strategy, with a deep dive into the advantages of Employee Stock Ownership Plans (ESOPs). For the entrepreneurial spirit looking to reward loyal employees and ensure the longevity of their life's work, our discussion on ESOPs reveals a tax-efficient method of business succession. Mike and I dissect the financial mechanics, regulatory intricacies, and the tangential benefits of selling a company to those who know it best—the employees. This episode is as much a masterclass; as it is a tutorial for navigating the financial implications of life's transitions. For more information on what we provide at Captrust visit www.captrust.com. You can contact me, Kelly Brothers, through the show at: bisifipodcast@gmail.com To reach me at Captrust visit www.captrust.com/locations/sacramento-ca/

In this episode, we sit down with Josh Holt from Steward Partners to break down essential tax strategies and investment advice for small business owners. We'll talk through complex tax laws and discuss the value of professional advice in protecting and growing your assets.Moreover, we delve into broader investment and financial planning, highlighting options like cash balance plans and Employee Stock Ownership Plans (ESOPs). We also cover recent updates in tax legislation that could impact your business. Join us to gain insights into securing your business's financial health.

In this episode of The Faces of Business, Matt Middendorp, Business Consultant, ESOP Partners, shares information on Employee Stock Ownership Plans (ESOPs) that could help you determine if an ESOP exit is right for your company. Matt is the Business Consultant at ESOP Partners. With an illustrious career that spans over two decades in banking and business consulting, Matt has become a luminary in making ESOPs accessible and beneficial for both business owners and employee owners alike.   Check out the Blog post here: Is an ESOP the Right Choice for Your Business Exit?   Thanks for taking the time to listen today.   Find Damon Pistulka on LinkedIn talking about life & building businesses you can sell or succeed.    On Twitter as @dpistulka with inspiration and sharing thoughts.    Find out more about Damon when he's not working.  @damonpistulka on Instagram, or Damon Pistulka on Facebook.      More information on building businesses you can sell or succeed and the Exit Your Way method on our website   View our blog page for this episode here.   Email us for more information info@exityourway.com

00:00 Introduction and Overview 09:04 Personalized Investing 16:33 Growing your brand is hard 27:50 Managing Illiquid Assets 38:32 Employee Stock Ownership Plans (ESOPs) 50:31 Investing in Growth Before It's Needed 58:00 HexClad and Amazon 01:09:24 Q1 Recap at Simple Modern Operators Exclusive Slack: ⁠⁠https://9operators.slack.com/join/shared_invite/zt-20pd2eq4n-UVM6oTQkdltEwLINwkCWIA#/shared-invite/email⁠⁠ Powered By: Fulfil.io.https://bit.ly/3pAp2vuThe Only Cloud ERP Designed to Efficiently Scale 8 and 9-Figure Brands. Northbeam.https://www.northbeam.io/ Sendlane.https://learn.sendlane.com/operators Visit Our Website: https://www.9operators.com/ --- Send in a voice message: https://podcasters.spotify.com/pod/show/9operators/message

In this episode, we dive into the captivating world of Employee Stock Ownership Plans (ESOPs) with our guest, Ben Nichols, President of Harkins Builders, Inc. With over two decades of experience, Ben sheds light on the inner workings of Harkins' ESOP, dispelling myths and highlighting its role as a robust accountability and culture-shaping tool in the construction industry. We explore the tax benefits, recruitment strategies, and value-maximization tactics employed by Harkins, showcasing how being an ESOP isn't just a retirement plan but a key to empowering employees and building lasting wealth. Tune in for an engaging conversation as Ben passionately advocates for broader adoption of the ESOP model and shares Harkins Builders' success story beyond traditional retirement planning.

In today's competitive business landscape, companies are turning to Employee Stock Ownership Plans (ESOPs) to attract and retain talent, fostering an ownership mindset. We draw some insights from an e-commerce brand builder that recently completed a company-wide ESOP buyback. Our guest JJ Chai, Co-founder, Rainforest, shares the benefits, mechanics, considerations, setup procedures, potential drawbacks, implications for departing employees, and tax aspects of ESOPs. We unpack of that in our weekly Biz-How-To segment where we share this guide for businesses considering this employee-centric approach.See omnystudio.com/listener for privacy information.

In this episode, John Brown speaks with special guest David Blauzvern, Vice President of csgpartners.com. CSG Partners is an investment bank headquartered in New York City, specializing in ESOP transactions. This discussion revolves around Employee Stock Ownership Plans (ESOPs), their benefits, and their complexities. Blauzvern emphasizes that while ESOPs offer unique advantages, especially for owners looking to preserve company culture and benefit employees, a lack of education about ESOPs prevents more business owners from considering this option.Benefits of ESOPs:Flexibility in structuring transactions.Options include minority or majority sales, selling equity to management teams, etc.Preserves company culture; management remains the same.No layoffs post-transaction.Acts as an incentive for current and prospective employees.Tax advantages.

In this episode of the Paychex THRIVE Week in Review podcast, host Gene Marks delves into the upcoming increase in minimum wages across several states, including California, and ponders the possibility of a national minimum wage change. Shifting gears, Gene examines the evolving landscape of remote work, highlighting a study revealing that many bosses regret their initial return-to-office decisions. He emphasizes the importance of flexibility and taking employee needs into account when formulating work-from-home policies. Lastly, Gene explores the benefits of Employee Stock Ownership Plans (ESOPs) and their potential advantages for both business owners and employees. He cautions listeners about recent IRS scrutiny of ESOPs, emphasizing compliance and proper setup. Tune in for valuable insights on these timely business topics. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In our latest episode, we take a deep dive into the world of Employee Stock Ownership Plans (ESOPs) with expert, David Blauzvern from CSG Partners Zero, an investment bank specializing in ESOPs. We explore how ESOPs offer liquidity for owners, tax efficiency for companies, and equity for employees, making them a sustainable choice for businesses. David also shares insights on the intricacies of setting up an ESOP, its potential as a game-changer for business acquisitions, and the phenomenal possibility of a company becoming 100% tax-free! Additionally, we discuss the benefits of managing a company with OpenBook management and its positive impact on performance. This episode is a must-listen for anyone looking to better understand ESOPs and their multitude of benefits! Tune in now, and don't forget to subscribe for more enlightening discussions.

In this episode of the Ownership Economy podcast, we welcome Dr. Corey Rosen, a champion of employee ownership. Dr. Rosen dives into the shortcomings of the current ownership model, marked by opaque practices and short-term horizons. The conversation shifts to Employee Stock Ownership Plans (ESOPs), outlining their benefits, limitations, and reasons for their non-dominant representation in the economy. Dr. Rosen discusses strategies to increase employee ownership, such as contractual preferences, taking companies private through ESOPs, and leveraging policy ideas like the Employee Equity Investment Act. This episode is a concise guide to understanding and fostering an equitable ownership economy.

Find out how Wescom employees became proud owners through Employee Stock Ownership Plans (ESOPs).Discover the power of ESOPs in creating a stronger bond between employees and their work.Learn how ESOPs ignite a sense of ownership and motivation among employees.Unveil the secrets to successful ownership, emphasizing open communication and shared goals.Discover how ESOPs make employees truly feel like they truly own a piece of the business.

Find More Episodes on PCA Overdrive https://www.pcaoverdrive.org/painted-show Become a PCA Member: https://www.pcapainted.org/membership-resources/ Employee Stock Ownership Plans (ESOPs) are a powerful tool for rewarding and retaining your painting staff, as well as creating a culture of ownership and accountability. In this episode, we talk to Kevin Johnson, the CEO of Kocolene, a business formed 85 years ago as a family business that transitioned to an ESOP in 2008. Kevin share the story of why the family decided to sell the company to the leadership team, how they structured the deal, and what benefits the entire company has experienced since becoming an ESOP. Where you are a painting business owner looking for an exit strategy, or a key employee interested in owning a stake in your company, this episode will give you valuable insights and tips on how to make ESOPs work for you.

Employee stock ownership plans have long been an exit strategy for companies, but they are still misunderstood. Kelly Finnell shares his passion and expertise with ESOPs from his 40 years of specializing in them. Beyond the definition of an ESOP, Kelly offers his insights into the history of ESOPs, the tax benefits they present to owners and employees, what metrics a company should have for an ESOP, what companies would be poor candidates for an ESOP and stories of the successes and challenges involved with an ESOP. View the complete show notes for this episode. Learn More: Should I use SDE or EBITDA to Value a Business? Additional Ways to Market Your Company for Sale Additional Resources: Download a free pdf copy of The Art of The Exit: The Complete Guide to Selling Your Business Purchase your copy now of A Beginner's Guide to Business Valuation | The Exit Strategy Handbook | Closing the Deal | Acquired Planning to sell your business? Schedule a free consultation today. To suggest guests, topics, or questions for future podcast episodes, contact Morgan & Westfield. Listen to Other Episodes: Should You Consider an ESOP When Selling Your Business?  The Basic Mechanics of Employee Stock Ownership Plans (ESOPs)  Top Tips on ESOPs and the Healthcare Industry  

In this episode, Joanne Szupka is joined by Maria Thiel & Blake Head to discuss the world of Employee Stock Ownership Plans (ESOPs) & SECURE 2.0. The discussion focuses on the three provisions in SECURE 2.0 that relate to ESOPs:Deferral of tax for certain sales of employer stock to employee stock ownership plan sponsored by S Corporation starting in 2028.Certain securities treated as publicly traded in case of employee stock ownership plans.Worker Ownership, Readiness, and Knowledge (WORK Act).Key Takeaways: Welcome [2:51] Updates in the ESOP world [6:17] Three provisions in SECURE 2.0 that relate to ESOPs [7:00] Section 114[11:24] Section 123[14:25] Worker Ownership, Readiness, and Knowledge[20:22] Conclusion Resources:BDO.comBDO.com/ERISA Blake Head on LinkedInJoanne Szupka on LinkedIn ESOP Advisory: BDO Capital Advisors, LLCDisclaimer: Investment banking products and services within the United States are offered exclusively through BDO Capital Advisors, LLC, a separate legal entity and affiliated company of BDO USA, LLP, a Delaware limited liability partnership and national professional services firm. For more information, visit www.bdocap.com. Certain services may not be available to attest clients under the rules and regulations of public accounting. BDO Capital Advisors, LLC Member FINRA/SIPC.

In the veterinary industry, Employee Stock Ownership Plans (ESOPs) aren't very common. Many veterinary hospital owners are unsure how an ESOP compares to a more traditional exit plan and how long an owner considering an ESOP will likely have to stay in the business before exiting. In this episode, Brian Frey, CFP and Partner at SignatureFD, joins the show to share what a successful business exit can look like and why he believes it is essential to start planning out your exit strategy years in advance.  You can find show notes and more at: http://bit.ly/3XLKk5M  Disclosure: Travis York is the owner of Three and One Vet Advisors and a partner of SignatureFD. Three and One Vet Advisors is a veterinary consulting and strategic planning firm of which SignatureFD has no involvement or ownership. James Yost is a partner and wealth adviser at SignatureFD. SignatureFD is an investment adviser registered with the U.S. Securities and Exchange Commission. Three and One Vet Advisors and SignatureFD are not affiliated. Mr. York provides all non-investment advisory services through Three and One Vet Advisors. The opinions of the guests and the contents of this podcast are intended to be educational only and should not be relied upon as investment, tax, business, or planning advice. You should consult with a professional advisor prior to taking any course of action that may impact you or your business.

What can you do to help create a brand that attracts the clientele and associates you want? In this episode, Robin Brogdon, CEO at BluePrints Veterinary Marketing Group, joins the show to discuss the potential benefits of Employee Stock Ownership Plans (ESOPs) and what you can do to help build an ownership culture within your practice.  You can find show notes and more at: http://bit.ly/3g819H0  Disclosure: Travis York is the owner of Three and One Vet Advisors and a partner of SignatureFD. Three and One Vet Advisors is a veterinary consulting and strategic planning firm of which SignatureFD has no involvement or ownership. James Yost is a partner and wealth adviser at SignatureFD. SignatureFD is an investment adviser registered with the U.S. Securities and Exchange Commission. Three and One Vet Advisors and SignatureFD are not affiliated. Mr. York provides all non-investment advisory services through Three and One Vet Advisors. The opinions of the guests and the contents of this podcast are intended to be educational only and should not be relied upon as investment, tax, business, or planning advice. You should consult with a professional advisor prior to taking any course of action that may impact you or your business.

Webcast URL: https://knowledgewebcasts.com/know-portfolio/erisa-class-action-developments-cle-2022/ The recent months have seen a significant increase in the number of Employee Retirement Income Security Act, as amended (ERISA), class action filings concerning the alleged mismanagement of 401(k), 403(b), and Employee Stock Ownership Plans (ESOPs). As court rulings continue to emerge and reshape the regulatory landscape, it is imperative for plan sponsors and fiduciaries to revisit their existing ERISA plans to ensure compliance. Likewise, they should stay updated with any developments in this field of law to avoid potential liability risks. Join distinguished ERISA litigators Jonathan Sulds (Greenberg Traurig, LLP) and David R. Johanson (Hawkins Parnell & Young LLP) as they provide a comprehensive discussion of the retirement plan mismanagement issues that could result in ERISA class action. Speakers, among other things, will also offer critical strategies in facing the current tidal wave of fees and litigation. For more information please click on the webcast URL at the top of this description.

Webcast URL: https://knowledgewebcasts.com/know-portfolio/erisa-class-action-developments-cle-2022/ The recent months have seen the significant increase in the number of Employee Retirement Income Security Act, as amended (ERISA), class action filings concerning the alleged mismanagement of 401(k), 403(b and Employee Stock Ownership Plans (ESOPs). As court rulings continue to emerge and reshape the regulatory landscape, it is imperative for plan sponsors and fiduciaries to revisit their existing ERISA plans to ensure compliance. Likewise, they should stay updated with any developments in this field of law to avoid potential liability risks. Join distinguished ERISA litigators Jonathan Sulds (Greenberg Traurig, LLP) and David R. Johanson (Hawkins Parnell & Young LLP) as they provide a comprehensive discussion of the retirement plan mismanagement issues that could result in ERISA class action. Speakers, among other things, will also offer critical strategies in facing the current tidal wave of fees and litigation. For any more information please click on the webcast URL at the top of this description.

It is common understanding that only C-corporations and S-corporations can sponsor Employee Stock Ownership Plans (ESOPs). But is this indeed the case? In this episode we speak with Mike Sorice about how LLCs can indeed sponsor an ESOP and the reasons why some have chosen this option. We talk about the differences between LLCs and other types of corporations, how LLCs can be structured to sponsor an ESOP, as well as the risks associated with doing so. SUPPORT THE SHOW: We make all episodes of Owners at Work free and never place them behind a paywall. But, they take time and money to produce. Consider making a DONATION today to help keep our work going.   GUEST INFO :   Mike Sorice  Linkedin: https://www.linkedin.com/in/mike-sorice-law   Phone: 614.223.9336 Email:  msorice@beneschlaw.com   WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at oeoc@kent.edu  

Equity, Taking Chances, and Keeping it Fun.In this episode of The Outspoken Podcast, host Shana Cosgrove talks to Amit Singh, Chief Architect for the Intel Sector of BlueHalo. Amit explains how he ended up studying electrical engineering at the University of Virginia. He also discusses the recent sale of Asymmetrik to Blue Halo, revealing why giving equity to his employees felt natural and how the sale affected him emotionally. Pranks and humor are how Amit keeps things light in the business world, and we hear how they not only helped him survive college but found their way into software on April Fools' Day. Lastly, Amit argues for the importance of executive coaches, lists impactful books, and divulges his collegiate athletic achievement. QUOTES “I like to start things, I don't necessarily have to finish them. I think of myself as a zero to one kind of guy” - Amit Singh [16:50] “I've tried to reduce the barriers or eliminate the barriers between the engineers and the end user. Because [there's] all kinds of ways to separate the engineers from the mission, and I feel like it's very important to remove those obstacles to be successful.” - Amit Singh [34:56] “As a subcontractor, you have the luxury of saying no. As a prime, you don't have that luxury anymore, so you're going to have to say yes to some things that you may not have done before. But that's where partnerships and relationships with other companies can help fill those gaps.” - Amit Singh [45:53]   TIMESTAMPS  [00:04] Intro [01:31] Meet Amit Singh [05:20] Amit's Role Today [06:40] How Amit Decided on Electrical Engineering [12:10] Leaving NASA and Starting Asymmetrik [15:23] Working for Himself [22:50] Finding a Partner [25:40] Reflections on how Asymmetrik Handled Equity [28:46] Amit's Emotional Reaction to Selling [29:59] Where Amit's Confidence to Take Risks Originated [35:37] Easter Eggs in Grapevine [38:06] How Amit Found Balance in Responsibilities as CTO [41:44] Discussing Marriage [46:43] Books that have Impacted Amit [48:15] The Value of Having an Executive Coach [50:31] Outro     RESOURCES https://arlingtoncap.com/ (Arlington Capital Partners) https://bluehalo.com/ (BlueHalo) https://www.vsu.edu/ (Virginia State University) https://www.virginia.edu/ (University of Virginia) https://www.odu.edu/ (Old Dominion University) https://www.nasa.gov/ (The National Aeronautics and Space Administration (NASA)) https://www.nasa.gov/goddard (NASA Goddard Space Flight Center) https://vt.edu/ (Virginia Tech) https://www.jhu.edu/ (Johns Hopkins University) https://www.nro.gov/ (National Reconnaissance Office (NRO)) https://www.darpa.mil/ (The Defense Advanced Research Projects Agency (DARPA)) https://www.inscom.army.mil/ (United States Army Intelligence and Security Command (INSCOM)) https://www.idc.com/ (International Data Corporation (IDC)) https://www.nsa.gov/ (National Security Agency (NSA)) https://www.saic.com/ (Science Applications International Corporation (SAIC)) https://www.esop.org/ (Employee Stock Ownership Plans (ESOPs)) https://www.cia.gov/ (Central Intelligence Agency (CIA)) https://datacommons.cancer.gov/cancer-data-aggregator (Cancer Data Aggregator at National Cancer Institute) https://www.airforce.com/ (United States Air Force) https://www.synopsys.com/glossary/what-is-cicd.html (CI/CD) https://osintframework.com/ (Open Source Intelligence (OSINT Framework)) https://www.amazon.com/Small-Giants-Companies-Instead-10th-Anniversary/dp/014310960X (Small Giants by Bo Burlingham) https://www.radicalcandor.com/ (Radical Candor by Kim Scott) https://www.amazon.com/Good-Great-Some-Companies-Others/dp/0066620996 (Good to Great by Jim Collins) https://www.amazon.com/Think-Again-Power-Knowing-What/dp/1984878107 (Think Again by Adam Grant) https://www.amazon.com/Zero-One-Notes-Startups-Future/dp/0804139296 (Zero to One by Peter Thiel and Blake Masters) https://simonsinek.com/ (Simon Sinek)...

Today we talk about ESOPs with Rocky Fiore, Managing Director of Prairie Capital Advisors. Employee Stock Ownership Plans (ESOPs) can be a great option to reward employees and keep your brewery business independent.  Craft breweries are all about collaboration, camaraderie, and employee empowerment. Employee ownership may be a natural evolution in the craft beer culture. Rocky oversees client engagements related to employee stock ownership plans (ESOP) feasibility and structuring, valuation, fairness opinions, mergers and acquisitions (M&A), estate planning, capital structuring and more for clients across the country.Topics covered:Top reasons a craft brewery would choose an ESOPBrewery ValuationsMergers and Acquisitions (M&A) in the craft beer spaceResourcesContact info for Rocky FioreLearn more about ESOPsSign up for the World Famous Craft Brewery Financial Training Newsletter

The pandemic placed the economy into a sickening tailspin. The crisis has brought enormous pain. Can it also catalyze advantageous changes that expand opportunity and equity? Companies can share economic success through various models. Employee Stock Ownership Plans (ESOPs), worker cooperatives, profit sharing, and forms of equity participation all present different opportunities to share that success. Employee-owned firms have also shown strong resilience through economic downturns and often use management approaches that lead to higher-quality jobs. How can these strategies help shape the economic rebuilding that is to come? How can they address the inequalities and inequities that have divided our society and help us build a more resilient economy? This discussion includes Joseph Blasi (J. Robert Beyster Distinguished Professor, School of Management and Labor Relations, Rutgers University), Tomás Durán (President, Concerned Capital; Job Quality Fellow, The Aspen Institute), Alison Lingane (Co-founder, Project Equity ; Job Quality Fellow, The Aspen Institute), and moderator Joyce Klein (Director, Business Ownership Initiative, The Aspen Institute Economic Opportunities Program). This webinar is the sixth in our Job Quality in Practice series. The Job Quality in Practice series is designed to support practitioners across fields – including workforce development, economic development, capital deployment, policy, worker advocacy, and business – to address job quality in their work. Webinars share updates on current conditions and priorities as well as actionable tools and approaches. We also seek to highlight leading practitioners' work and create connections across disciplines.We are grateful to Prudential Financial for its support of our Job Quality in Practice webinar series and our ongoing efforts to advance a job quality field of practice. The Economic Opportunities Program advances strategies, policies, and ideas to help low- and moderate-income people thrive in a changing economy. We recognize that race, gender, and place intersect with and intensify the challenge of economic inequality and we address these dynamics by advancing an inclusive vision of economic justice. For over 25 years, EOP has focused on expanding individuals' opportunities to connect to quality work, start businesses, and build economic stability that provides the freedom to pursue opportunity. For more information, visit our website at as.pn/eop. Learn about new events and activities by joining our mailing list (as.pn/eopmail) and following us on social media (as.pn/eopsocial).

The number of Employee Stock Ownership Plans (ESOPs) have expanded since they were established as qualified retirement plans in 1974.  ESOPs can benefit both the organization and employees including team members receiving significant retirement benefits at no monetary cost to the employee. Research shows ESOP companies are more productive, faster growing, more profitable and have lower turnover. My guest for this episode is Jeff Jamerino, President and CEO Superior Electric Great Lakes Company.  Jeff led conversion of the organization from a single shareholder to a 100% ESOP which has had a profound impact on the success of the organization and engagement of team members.   Listen in as Jeff shares lessons learned in the transition along with insights into building a family-centric culture that drives engagement and retention in a highly competitive industry. Connect with Jeff Jamerino Email: jjamerino@seglc.com LinkedIn: https://www.linkedin.com/in/jeffrey-jamerino-304039a9 Website: www.seglc.com Connect with Susan Morgan Bailey Email: sbailey@mma-mi.com LinkedIn: https://www.linkedin.com/in/susanmbailey/

Today I’m talking about ESOPs (or Employee Stock Ownership Plans) with Dave Diehl, CFA. Dave is the CEO of Prairie Capital Advisors (one of the leading ESOP specialists in the country), based out of Chicago. Prairie Captial is unique because of their range of expertise, which covers both ESOPs as well as selling to a private equity firm. They really have the best interest of the client in mind. Dave talks about the basics of ESOPs in layman’s terms so everyone can understand the benefits of this type of exit process. What you will learn: Dave’s background A brief history of ESOPs How is an ESOP an exit process? What does the process of an ESOP entail? How an ESOP gets valued What your roles and responsibilities are when working with a trustee How you get your money (percentage upfront vs. what percentage comes over time) All the tax benefits which come with the ESOP process How ESOPs impact the culture of your business What are the pros of an ESOP? What are the cons of an ESOP? Takeaway: Are you a viable candidate for an ESOP? There are a lot of pros that come with selling to your employees. Links and Resources: Prairie Capital Advisors David Diehl, CFA ARKONA Boot Camp About Dave: Dave Diehl is the Chief Executive Officer of Prairie Capital Advisors. Dave provides closely-held businesses with a complete understanding of the best available options for their ownership transition needs. He expertly executes projects for mergers and acquisitions (M&A), management buyouts (MBO), Employee Stock Ownership Plans (ESOPs), estate planning and other corporate finance purposes. Dave serves as a trusted advisor to a diverse range of clients nationwide delivering highly strategic consultation. With extensive end-to-end management experience and a focus on his clients’ success, Dave helps ensure an exceptional ownership transition experience. Dave is a CFA Charterholder and is on the board of directors of two companies – a manufacturer of plastic parts and a financial consulting firm. He is also a frequent speaker in forums around the country on topics including ownership transition, valuation, capital management, and business sale. He is also a past chair of the Advisory Committee on Valuation with the ESOP Association.

Our introductory episode of The ESOP Podcast recorded in September, 2017 is a conversation between Capital Trustees partners Bret Keisling and Rich Heeter about Employee Stock Ownership Plans (ESOPs). An ESOP is a type of trust, and all trusts need a trustee. Bret and Rich describe what it means to be a trustee for an ESOP, and why that role is important.