Podcasts about esop

Ted speaks with Rich Gioia, co-founder of Gioia Capital and Managing Director of Lazear Capital, an investment banking firm specializing in ESOP transactions. Rich shares his path from leaving a legal career to acquiring and growing businesses in the lower middle market, eventually discovering the advantages of Employee Stock Ownership Plans while selling one of his companies. The conversation breaks down how ESOPs work as a business succession strategy, including how owners can sell their company while maintaining control, receiving liquidity, and potentially eliminating capital gains taxes through unique provisions in the tax code. Rich explains the structure of ESOP transactions, including bank financing, seller notes, and equity warrants, while demystifying common misconceptions that employee ownership is purely altruistic or requires employees to contribute capital. Ted and Rich also explore why ESOPs are particularly relevant for contractors, builders, and other owner-operated businesses where private equity interest may be limited. They discuss the importance of succession planning, preserving legacy, and aligning incentives between ownership and employees. The episode highlights how ESOPs can create a win-win structure—providing business owners with liquidity and tax advantages while giving employees a meaningful ownership stake and incentive to drive long-term success. TOPICS DISCUSSED 01:10 Introduction & Meeting Rich Gioia at Sundance 02:45 Rich's Background: Lawyer to Entrepreneur 04:45 Building Companies in the Lower Middle Market 06:40 Selling a Business & Discovering ESOPs 09:00 Common Misconceptions About ESOPs 11:20 Why ESOP Exits Can Outperform Traditional Sales 13:30 How ESOP Financing Works 16:00 Breaking Down a Real ESOP Transaction Example 19:00 Tax Advantages & Section 1042 Explained 22:30 Employee Ownership Without Financial Risk 24:40 Why More Businesses Don't Consider ESOPs 27:30 Legacy, Ownership & Selling to Employees 30:00 Incentives, Productivity & Employee Alignment 32:20 Exit Planning for Contractors & Builders 35:00 Private Equity vs. ESOP Outcomes 37:40 Preserving Company Culture & Legacy 40:10 ESOPs as a Succession Strategy 42:30 Final Thoughts & How to Learn More About ESOPs   CONNECT WITH GUEST Rich Gioia Website LinkedIn KEY QUOTES FROM EPISODE “You as a business owner could sell your company effectively tax-free, tax-deferred and ultimately eliminated.” “Your employees don't contribute any cash in an ESOP.” “There are no personal guarantees with that and the employees aren't raising or contributing any capital.”

DISCLAIMER: The information in this presentation is provided as education only, with the understanding that neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. If you require legal advice or other expert assistance, you should seek the services of a competent professional. Neither the presenter nor ENNIS Legacy Partners shall have any legal liability or responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly, by the information contained in this presentation.============================================“We want you to help you build a business that is sellable and exit successfully on your own terms and conditions.” - Pat Ennis============================================

Jeff Taylor is the general manager and past president of Crafts Technology, part of the Precision Solutions Group of Viperion Materials and Technology. Crafts specializes in converting powdered-metallurgy products into finished, high-precision, high-performance engineering tooling and wear solutions. Jeff's 40-year professional career includes working in a variety of roles, including as a toolmaker and then a manufacturing manager at New England Carbide, and in sales leadership roles at AW Chesterton. Jeff's tenure as CEO at Crafts Technology includes forming an ESOP to purchase crafts from private ownership. Jeff's education includes an A.S. in manufacturing engineering technology and a Bachelor of Manufacturing Management from the University of Minnesota. He's now working on his master's degree. Jeff is the father of two wonderful daughters, both of whom are now attending college. His hobbies include traveling, skiing, rollerblading, mountain biking, running, and he's a PADI-certified rescue diver.

https://youtu.be/_A__xfP6HBM Laurie Barkman, strategic growth advisor, former $100M CEO, M&A expert, and author of The Business Transition Handbook, helps construction, architecture, and engineering firms build scalable, sustainable businesses that create time, freedom, and long-term value. Having experienced a major acquisition firsthand and led companies through significant growth and change, Laurie now focuses on helping mature business owners navigate the complex journey of building enterprise value and preparing for future transitions. We explore Laurie's BUILT Method—Blueprint, Unlock, Integrate, Lead, Transition—a strategic framework designed to help founders of established businesses scale beyond owner dependency and prepare for successful leadership or ownership transitions. Laurie explains how aligning the owner's personal vision with the company's future strategy creates clarity, why measuring enterprise value can unlock new growth decisions, and how proactive transition planning helps entrepreneurs avoid the identity crisis that often follows a business exit. — Take 5 Steps to Transitioning Your Business with Laurie Barkman Good day, dear listeners. Steve Preda here, the Founder of the Summit OS Group, and today my guest is Laurie Barkman, a strategic growth advisor, former a hundred-million-dollar CEO and M&A expert who’s helping construction and engineering companies build scalable, sustainable businesses that creates time, freedom, and value. Laurie is also the author of the Business Transition Handbook. Laurie, welcome to the show. Steve, thank you so much. I’m so excited to be with you today. Yeah, it’s great to have you. And you have a really interesting niche with the business transition and helping construction or architecture engineering firms. So what brought you to this point? What is your personal why, and how are you manifesting it in your practice? My personal why has been evolving over the years through my career. I think I was always an entrepreneur at heart. I had orbited entrepreneurial companies, like startups, in a big company. I was always the maverick. I was trying to be an intrapreneur and ultimately found myself in a position of finding a way to help business owners in the back part of their journey. While I love startups, I have found that my niche is in working with mature companies—so companies that are over five to seven years old—and helping entrepreneurs in the tough decisions.Share on X It’s the tough decisions that they really wrestle with, feel alone, and I’ve been in executive shoes, right? I’ve been lived that world. I’m living in the entrepreneurial world right now, but again, in this mature space where we think about life differently, we think about transitions differently, and I’ve just kind of embraced that idea, especially as a Gen Xer, of how to help other Gen Xers in that in-between. So is there like a personal reason why you are attracted to this whole idea of the transition?  I’ve lived a lot of transitions, especially in the corporate world, going through an acquisition about 10 years ago, I was an outside hire at a third-generation company, and they said, “We’re looking to hire you not for the next three years, but for the next 20,” which was really exciting, but it ended up being three. And the reason why is because a little Bluebird, who wasn’t so little, a global company who was very in acquisitive, I was interested in this business, third-generation company. It was over a billion in revenue. My business unit was about 10% of the total. So again, sizable business unit, and myself and the other executives had to work really, really hard to keep our foot on the gas pedal, making sure that the deal, if we were, was going to go through that we helped make it go through—which we did. It was out of the blue. The company was not on the market. But I saw firsthand the innovation, the growth, and the transition over the three generations of the stories of how it went from one to the next was just so fascinating to me. So when I ultimately was part of the integration team, I left the business. The short answer was that I was just there for three years. And so after that I really saw an opportunity to help other entrepreneurs on their journey. So this notion of that we’re going to grow, we’re going to innovate, and then eventually we’re going to transition—maybe it’s a family business, maybe it’s founder-led. Nonetheless, we want to create value, we want to have good handoffs, and I saw things were working well.Share on X As I mentioned, I joined at the point of the third generation. Then it was up to the corporate gods take it from there. And so I thought about ways to add value and work with inspired entrepreneurs who envision a future legacy for themselves, the people they love, the communities they serveShare on X but they’re just stuck. They feel stuck in some way. They’re kind of on their path. They’re not at the end of the path. They’re on it, and they need that support. That’s really what’s been motivating me and driving me for the last seven plus years. Yeah. That’s a wonderful journey, and it’s a very wordy thing because these entrepreneurs, they build a company, and then they don’t know how to allow it to grow up. And you basically are there and help them with the empty nesting and the pre-empty nesting, getting them into good courage. That’s also very important. So one of the ways you, I understand you do this is you call it the BUILT Method, which is kind of neat because you work with construction, engineering, architecture firms. So what is the BUILD Method is about, and how does it help people?  Yeah, the  BUILD Method is definitely an acknowledgement that we are in a physical world, and I appreciate you making that connection.Share on X And it’s not lost on our audience, hopefully. It’s such an important space. We really, in a time of AI and such dramatic change, the built environment of architecture, engineering, design companies that are envisioning their futures. There’s like any industry, there’s a lot of changes. And so this is a blueprint, if you will. That’s the “B,” right? It’s a blueprint for what is your vision and what is the firm model, what should it be in the future? It’s really that roadmap of future growth. The “U” is an unlocked. So many of us feel stuck. Maybe we’re stuck in the day-to-day because we have owner-dependent businesses. Maybe we feel stuck because our revenues are plateaued or declining. And we see ourselves as a bottleneck. Maybe we’re a bottleneck for a variety of reasons, which I’m sure we could talk about. The “I” is all about integration. And so, what do we need to do to document our systems and put things in place so that we don’t have risks in terms of not only owner dependency, but any other employees where there could be gaps should someone leave the organization or have some other untimely departure? The “L” is lead, and lead is not used lightly. Lead is really with clarity and not with chaos. And for owner-dependent businesses, people that have companies that can’t thrive without them, this tends to be a real challenge that they want to lead from the front, but they’re not. And they're so in the weeds in the business, they can't see the forest for the trees. They're not working on the business. So really helping my clients find that clarity is so important.Share on X And then the “T”, last but not least, stands for transition. It’s probably my favorite word at this point. And it’s not just transition or change for any sake. It’s good to have that confidence and to be in control, to be in the driver’s seat, and to be proactive about change. It’s why I wrote the book, The Business Transition Handbook. It’s really encouraging entrepreneurs to not think about an exit as a point in time and a finite point in time. It’s why I do talk about exit and I do talk about exit planning, but my recognition is that this is a finite action, and a transition is a journey. It's a path, and that's why my business is named Business Transition Sherpa, because I am with you on your journey. So the BUILT Method is really all about these different aspects and helping entrepreneurs on their journey.Share on X STEVE PREDA: Yeah. This is very cool. And there is a lifecycle to business, and there’s a lifecycle to an entrepreneur as well. And hopefully the business’s lifecycle is much longer than the entrepreneur’s. So someone is going to take it on, and you want to create a great legacy and a great business. So your way of the blueprint or your version of blueprint is different. Is it like what people call mission, vision, values kind of thing or there’s more to it? I think it does start with that. I mean, those are so fundamental, and my overall approach with strategic transition planning is the acknowledgement that there’s different aspects of the planning that we need to do as business owners, and one of those aspects is a blueprint for the business. And the business fundamentals of where do we want to be in five to seven years or ten years. Another part of that, which is a dovetail, is where does the owner want to be? What’s their personal future vision? And we start to intertwine those things, especially in this age and life stage. I work a lot with, as I mentioned, Gen Xers, and so we are in the mid-fifties of our lives, and statistically speaking, we’re about five to seven years away from a significant life transition. A lot of the Gen Xers, especially business owners I work with, are saying, “I’m looking ahead. I see what the baby boomers have done, and I don’t want to do it their way. I want to do it differently. I’m not going to die at my desk, and I want other things out of my life. My business has provided this and that for me, which has been valuable, but I’m ready for something different. I just don’t know what it is.” So we integrate in this blueprint. Their vision is not just for the business, but it's for themselves as well. And it's a big reason why I work directly one-on-one with the owners, founders.Share on X You and I have talked offline about the role of management team. It’s so important for me. It’s really, really important to give that private time and private space for the owner because these are such important questions that will influence the direction of many lives. And if we’re unwavering, it feels a little uncertain, and we don’t want to necessarily showcase that uncertainty to our teams. So the blueprint part of this is a bit of ideation as well. A big part of what we do is we work on what their future vision is, and it takes into account this age and life stage component of what we’ve been talking about. Yeah. That’s really interesting because maybe you find that as well, that sometimes the vision—the individual vision of the entrepreneur and the company’s vision gets confused. And the entrepreneur may not realizing that their vision may be to transition out of the company, but that’s not going to be the vision for the company because the company for them to be able to transition, has to have a much longer view and people have to believe in it, so that even with the founder, they’re going to be successful. So that is an interesting conundrum that I vision for with an entrepreneur like that. Do you find that to be the case? It is a conundrum. I think it’s just a lonely place in our heads and for owners and founders who have a lot on their shoulders. “Heavy is the head that wears the crown,” right? It’s a saying that means so much. I think that people want to explore options. They don’t want to lock in on something and put all their eggs in that one basket. I have found that owners who create options for eventual transition are better positioned than folks who have placed bets. I could tell you so many stories, Steve. So for example, especially in our engineering, architecture, and design-type of audience, owners sometimes are placing bets on their internal management to buy them out over time. I had one gentleman call me—I’d say he’s a baby boomer. He had a wonderful number two, had been grooming the number two for eventual. What he had envisioned in his mind was of to sell the business to him, and not only did the number two not want that; he resigned. And it felt like such a betrayal. He was so upset. I had talked to him months after this happened, and he was still upset about it. He felt like it was a starting over in a lot of ways for his own exit plan, which it was. And so we try to prevent against that. Yeah, there's a lot of things that we can do to try to figure out if we have the right people in the right seats. And that's important.Share on X I know you spent a lot of time on this as well, working with management to say, “Do we have the right people in the right seats?” And we do assessments, and those are great. Those are skills and strengths, and we should do that. But what I have found is that we don’t do that when it comes to ownership, especially if we think that the owner is inside the company. And we can talk about it—I’ve created an assessment for that because it’s a high-level way to just get your head around. Do people on my team have an ownership mentality or not? We’re not recruiting for that. We’re recruiting for the skills and strengths that we need for that time. And when we’re growing people over a long period of time, you can imagine how that becomes even more of a problem because if we assume they’re an owner, they have a owner mindset, and they don’t—and they’re more cash—oriented versus equity—oriented and other things—that puts us in a trap. Yeah. I think it’s a big trap. I read it somewhere, I know where I read it from. Dan Kennedy, who’s like a small business guru—he was big in the 2000s—and he once said that the worst number in business is one. It’s one salesperson; it’s one successor who will have to come through. I think this is a big mistake of business owners that they try to clone themselves because they think that if they just find one person who is going to be as good as me, and all my problems are solved. Whether you call it an integrator who is going to come in and run the show and I can just be up there and vision and dream about stuff, I think it’s a huge mistake. I much prefer the idea of creating mini-CEOs in your business who can really strategically own their functions. So anyhow, yeah, this is a big problem. But I’d like to move on to the next letter in the acronym, which is “U”. I really love this word: “unlock.” It’s very inspiring. Unlock—how do you unlock? How do you figure out how to open up the floodgates of opportunity or whatever you mean by unlock? I think part of it is a diagnostic around where is the business today and what are some of the things that we’ve set as goals for enterprise value. What is enterprise value? Are we measuring it? Most often we’re not, and the one big unlock is just this recognition that we have set KPIs for our business, which are great, and we’re using them with our teams, and we’re operationalizing those. Love it. Awesome. Keep that going. But what a business owner is not measuring most often is the enterprise value.  And if we are measuring that, we might make different choices in how we’re investing our resources if our objective is to increase that value. So we might say, “Well, what is enterprise value?” Okay. So we need to understand that. And then, what is it in measurement terms—either through a professional like myself who can help us understand and not just talking to your buddies at the golf club or what you think your business might be worth? And if we can really get some data around that. You know, I love my analytical entrepreneurs, which is one of the reasons I love this space. They're analytical people, and they like the numbers, and they want to have some structure around it. So that's what we do, is we start with the baselining.Share on X Where is the business today? And let’s set some targets. We look at, “Well, what’s best in class in that particular industry?” So again, the AEC industry, we have some benchmarks around that. And then we have to understand, “Well, what are some of the value drivers?” One big, big value driver, of course, is going to be financial performance. So what’s beyond that? And what are these hidden things that we don’t know that can be detracting value? And so if we dig into those things, it’s like an unlock. And once you see it, you can’t unsee it. My best example of that in this conversation is enterprise value. Once you know where your enterprise value is today, you can’t unsee that. And you also can’t unsee the desire for many people, which is, “Oh wow, what if I could increase that?” Then we’re talking about millions of dollars of value at some point in the future. So aligning that with our exercise we talked about earlier, which is our age and life-stage exercise around exit timeline. It’s so powerful because now we can set some targets that are meaningful to our communities, our employees, our stakeholders, and ourselves, and aligning the personal, the business, and the financial towards this overall picture. It’s a major unlock. And do you find that—what is the level of transparency you see that these business owners allow for their team to see? So would they actually show them that this is our profitability, these are our margins, gross profit, this is our overhead, this is our net profit, this is how we calculate enterprise value, and here is how you can help me improve it. Is this how it goes or it’s more everyone is just focusing on a couple of KPIs that are within their program?  It’s an evolution. I think a lot of times in the beginning, we keep it a little close because we’re trying to understand it ourselves. And for firms that have developed a cost-of-goods-sold model, a gross profit, they’re already measuring that. Maybe they’re doing that by lines of business. That is really powerful. I have one client in the engineering space that just put that in. And they doubled revenue last year, by the way. So they’re a high-growth company in the engineering space, which is so exciting. They’re doing about $10 million in revenue, and they just put that in for the different lines of business. And how it’s helping them is it’s giving them a year-over-year perspective, which is good. They can see where they’re investing, and they can also see payback opportunities where there’s an intersection with the team. I think is on the business side for growth levers. When we talk about value drivers, and we'll just pick one that's quite common beyond financial numbers, it's our ability to drive recurring revenue, subscription models, and different flavors of…Share on X So for this particular client, we’ve been working on developing a recurring revenue program for them, and we’re at the starting line, but what’s going to be so exciting, I think, not only in terms of their core business growth that they’re seeing, but once we get that recurring revenue program up and running, it’s going to be material. Once the revenues are large enough, of course, it’s going to be material on their enterprise value. And so the dovetail is, well, yeah, he’s not going to launch the subscription revenue business by himself. He needs others to help him do that. But the idea for it and the vision for it and then the unlock right, comes from this type of exploration. Yeah. Wow. That’s great. And it is definitely a challenge that construction companies often struggle with. How do I do a project-based company primarily? How do I drive recurring revenue, subscription models? That would probably deserve its own podcast, this whole topic or maybe a podcast series. Maybe I’ll talk about it another time. I still like us to cover the last letter in the acronym: the transition. Because that’s where I see a lot of people who have sold their business. I was an investment banker in my past life, and I don’t know how many times we saw the business, and the owner was so excited that they basically neutralized the risk, and then they had this big pile of cash, and they bought the boat and they bought the car and the house. And six months later, the boat was collecting water in the marina. You know, they showed the car off to everyone, and it was no longer exciting, but it was very expensive, and they didn’t know where to store it, kind of thing. And then they were getting bored, and they were kind of disappointed because their identity got ahead. How do you deal with it? How do you help people with the identity issue and this whole thinking about transition the right way? You nailed it. That identity is a really big part of why many business owners feel lonely and a bit depressed one year after a sale. There’s many reasons why that could happen. I think the statistics are a little bit over the place, but I do believe that identity is a big part of it. And so if we are working on this together, an example with one of my clients is I gave them a book to read because I got an inkling of what he was interested in, which is themes around justice. And he’s seeking ways to have an impact in his community that are truly outside the business for lots of reasons. But he just innately wants this type of involvement, and we are going through an exploration of what that could look like. He’s in a good place with his business. We're continuing to grow it, and we're working on his growth and enterprise value growth and things like that.Share on X But this sort of sits on this in a parallel path, and it will intersect at some point because we all are human. We have an age and life stage to us, and how he’s envisioning spending his time over the next 10 years. He wants to continue to have a path forward. But we’ve created a space for when we meet, we’re meeting one-on-one, we create that space to really talk about how does he want to spend his time outside the business. And note the timeline here. He’s about 10 years away. And to his credit, he’s saying, “Yeah, I want to start doing something now.” And if that’s how we can think about it, Steve. I think it’s really important. It’s almost like this giant on-ramp. We’re not going to just sell our business and then, all of a sudden we’re going to go have this amazing thing that we’re going to create tomorrow, right? It just takes time. And another way to think about it is like a portfolio—a portfolio of how you look at your identity, how you feel about yourself, and how you spend your time—and has to align. Really, it can align with your core values, it can align with how you want to spend time with people you love. So I have one client, engineering company owner, who is very committed to the church that they support, and he spends a lot of time and a lot of resources. It’s very clear on the company’s website how the company has a policy of donating proceeds from profits to this entity. So it’s well known, and it’s just part of their culture. And in developing his 10-year view, this is part and parcel of it. It’s involving his family members; it’s involving the company. It’s helped fueling a decision around their transition path. They’ve considered lots of different options: Should they sell to a third party? Should they become an ESOP? And the dovetail, I think, for many, is to figure out what is that right fit based on what’s important to you. What’s going to give you that feeling of that completeness and balance that you’re seeking? Wow, that’s amazing. You have people who are thinking about that 10-years out. That is impressive. I’ve never seen that. If a business owner thinks 3-years out about that, it’s already much better than average. So you obviously are inculcating them with the right kind of ideas. So tell me about your business. So let’s switch gears here a little bit. I mean, you ran this a hundred million dollar business for three years, and it got sold; it got integrated. So I’m sure that you had some big challenges there. What is it that you would consider the hardest decision you ever had to make in your business? Yeah, I think in today’s world, I can try to put my coaching hat on for this answer. I’m trying to build a practice that is creating value for others. And so one big thing is to make sure that I’m doing that now with my client relationships and how we measure things. I’m confident that we are doing that, but inherently, if we have one voice, how do we reach many? And I think a lot of companies… it’s like, “Oh, that’s a marketing question.” Yes. And right, it is a marketing question. There’s a lot of things that are dynamically changing in our world. How do we reach the people that we want to reach? How do we share a message? So that is no matter what business you have, I think we can all sort of empathize with that. So I do feel like that is changing a lot. So the challenge is, how do I meet people where they are, right? I think podcasting has been a great vehicle. We’re doing more of that. We’re going to be doing more in-person things as well. I do think that we’re very much in a powerful digital age, and the more digital tools we’re putting in front of us and the more digital time we’re spending. My hypothesis, Steve, is that the value of the interaction—the one-on-one as well as group—is not lost on anybody. That it’s going to be even, probably even more important. And especially as things, and if you’re reading some of these AI articles about potential impact in our economy, there’s going to be a lot of need for us to come together, and lean on each other’s shoulders, and be good, solid resources for one another in times of dramatic change. I fully agree with you. I have that feeling as well that there’s so much alienation that is being caused by the digital stuff, and AI in particular, that people are replacing conversations with chatGPT conversations. I think people will just realize that this is all unreal, or we don’t know whether it’s real or not real. And there’s so much noise because everyone is creating all these posts with AI, and you know what is a real voice here? You won’t know unless you meet the person in person and then you hear their own voice and provided they’re not a robot because that can also happen that you have humanoid robots, but let’s not go that far. So I do agree, and I think that your personal recommendations are going to be even more powerful in the future because you don’t know what is real and what is fake. People also starve. We sit in front of our Zoom screens, and it’s not the same as meeting someone in person. There is a different quality to it, and we are going to starve for it. I was just thinking this morning that I looked at my calendar, and I’m just coming out of my season of spending days with my entrepreneur clients, and it’s over. And next couple months, it’s going to be pretty quiet. I’m going to be in my office, and I’m dreading having to sit here on my own. So I’m thinking about, “Okay, I have to get out there. I have to meet people.” So I’m recording video on this one. Last question. Well, penultimate question to you is, what do you think is the most important question that an entrepreneur should be asking themselves? I’m going to come back to kind of this AI conversation. I think every CEO needs to be using ai. And I think every CEO needs to be considering how their teams can use it and not put your head in sand. I think there’s a lot of impact, positive impact that can be had by just some basic productivity improvements, which is kind of how 95% of AI is being used today. There’s nothing wrong with that. And then from there can lead us to coming up with ways to enhance our business. I have one client that’s using it for proposal development. It’s been a dramatic improvement in quality and time, and that’s just one case study example, but there’s so many others. Following’s. Okay. You don’t have to be a leader. And just being recognizing that AI is going to touch so many aspects of our business and personal lives. And then the other thing is like, don’t stop hiring people because of AI either. There’s a lot of doomsday articles coming out now about the economy and impact of AI. There may be some scary truth to some of those things. And then I’m seeing articles from folks saying, “Look, AI shouldn’t take over your entire business. You’re still going to need smart people. You just want to give them the tools.” As an example, there’s a friend of mine who runs a digital marketing agency, and you might think, “Oh, that’s the kind of business that’s shrinking.” Well, they’re over 200 people, and they’re using AI in very efficient and effective ways. So it’s not a recipe to just dial back your human capital. It’s a recipe to do the unlock and do the think about how you can best use this information to create a scalable practice. Yeah, I think so. Also, this has been seen in history that since the Industrial Revolution, everyone was afraid of losing jobs. And the more technology there is, the more ideas there are for further services, the more demand there is because all the value is being created, and we want to spend that value on more stuff, right? And yeah, I agree that AI is just raising the bar. So every company has to now be AI-empowered and do a lot more. We can’t just deliver what we were delivering a year ago. We have to deliver more, which means that those people who are AI-enabled, they’ll just have to raise their standard. Yeah, I agree with you. So if people would like to learn more about let’s say they have an AEC-type of company—architectural, engineering, construction. Did I get it right?  Yes.  And they are thinking about the future and the transition and build the blueprint for a great company that has more enterprise value, et cetera, or they read your book and they realize that this is exactly what they need. How can they find you and how can they connect to you? Well, my website’s probably a great place to go, which is btsherpa.com. And if people are interested in that succession assessment that I mentioned earlier, just put slash succession—so btsherpa.com/succession—and you’ll get access to the assessment. You can take it multiple times for different people in mind as well. And so my book is on there, my podcast, and I really do hope that people follow up with me. If you have any questions at all about anything we talked about today. Fantastic. So do check out Laurie Barkman via btsherpa.com/succession if you want to read the materials and download stuff. Thank you, Laurie, for sharing all your great ideas and insights. If you enjoyed the conversation, then stay tuned because every week I bring an exciting entrepreneur, thought leader to the show who will share with you about frameworks about growing your business and making it more valuable. So thanks, Laurie, for coming, and thanks for listening. Important Links: Laurie's LinkedIn Laurie's website

In this episode of the Foundations of Transition Series, Jason and Makenzie focus on the theme of Strategic Direction, asking the critical question: What direction are we moving in, and how are we getting there? Each workshop-style conversation in this series is designed to help business owners think more intentionally about the future of their company and the role they play in shaping it. This episode challenges owners to step back and “look up” from the day-to-day demands of running a business to look ahead. Jason and Makenzie discuss why better questions lead to better strategy, and how defining what you hope to gain from the future of the company can lead to a plan that is both realistic and effective. Through practical insights, they explore how thoughtful strategic direction creates clarity, momentum, and a path forward for both the owner and the organization.

What if you could create a buyer for your company without selling to private equity or a strategic acquirer? In this episode of Grow With Purpose, Joey Brannon sits down with Jason Miller of Berman Hopkins to demystify Employee Stock Ownership Plans (ESOPs) so you can understand how employee ownership works as a real exit option before ruling it out.IN THIS EPISODE, YOU'LL LEARN:･What it means to “create a market” for the shares of your privately held company･How fair market value standards shape ESOP negotiations･Why leadership communication determines whether employee ownership succeedsLEADERSHIP GUIDE:･178 - Demystifying ESOPsRESOURCES & LINKS:･ Journey to an ESOP Podcast･ Berman Hopkins･ Jason Miller LinkedInCONNECT WITH AXIOM STRATEGIC:･Website･LinkedIn･Instagram･Facebook･YouTubeHELP US IMPROVE THE SHOW:

Selling your business to a new buyer isn't the only way to exit. What if you could transition ownership to your employees, rewarding their hard work while securing your legacy?  In this episode, Chris Fredericks, CEO at Empowered Ventures, discusses Employee Stock Ownership Plans (ESOPs) and how they offer a powerful alternative to traditional exit strategies. Chris explores the advantages of ESOPs and other employee ownership models, such as co-ops and Employee Ownership Trusts (EOTs). He shares examples of how these models help businesses thrive and create lasting value for both owners and their teams. If you're considering your exit options, this episode offers valuable insights into the potential of employee ownership.   In this episode, you will: Learn the nuances of ESOPs, Co-ops, and EOTs for employee ownership Understand the process of transitioning a company to employee ownership Learn how to navigate the legal and compliance aspects of ESOPs   Highlights: (00:00) Meet Chris Fredericks (02:35) ESOP vs Co-Op vs EOT (05:17) Succession and transition to ESOP (08:34) Life after the ESOP (19:34) Deal sourcing through brokers vs direct outreach (23:09) The pressure & culture shift of employee ownership (24:55) Scaling ESOPs: employee-led demand & policy momentum   Resources: For past guests, please visit https://www.defendersofbusinessvalue.com/   Follow Chris: https://www.linkedin.com/in/frederickschris/  Learn more about Empowered Ventures: https://empowered.ventures/  Follow Ed: Connect on LinkedIn: https://www.linkedin.com/in/edmysogland/ Instagram: https://www.instagram.com/defendersofbusinessvalue/ Facebook: https://www.facebook.com/bvdefenders

Welcome to the daily304 – your window into Wonderful, Almost Heaven, West Virginia. Today is Tuesday, March 3, 2026. #1 – From WORKFORCE WV - Register opens for Statewide Virtual Job Fair WorkForce West Virginia is hosting its monthly Statewide Virtual Job Fair on March 3, giving job seekers the opportunity to chat live with employers, apply for open positions, and even interview online. The virtual format connects West Virginians with opportunities across multiple industries — all without leaving home — supporting career growth and workforce development across the state. Register now: https://workforcewv.org/statewide-virtual-job-fairs/ #2 – From AURORA FLIGHT SCIENCES - Family connections drive success at West Virginia facility At Aurora Flight Sciences' Bridgeport facility, family connections are helping power advanced aerospace manufacturing. Brothers Brent and Bobby Sinsel work side-by-side as tool design engineers, contributing to composite manufacturing operations that support aviation production. The company's focus on collaboration, skill development, and local roots continues to strengthen its West Virginia workforce. Read more: https://www.aurora.aero/2026/02/03/family-connections-drive-success-at-auroras-west-virginia-facility/ #3 – From ADVANTAGE VALLEY - Succession planning helps businesses plan for the future Advantage Valley is spotlighting the importance of succession planning for West Virginia business owners. Whether preparing for retirement, ownership transitions, or unexpected changes, leaders can access tools, checklists, and real-world examples to explore options such as management buyouts, ESOP transitions, traditional sales, or generational transfers — all aimed at protecting business value and preserving local jobs. Read more: https://advantagevalley.com/succession-planning/ Find these stories and more at wv.gov/daily304. The daily304 curated news and information is brought to you by the West Virginia Department of Commerce: Sharing the wealth, beauty, and opportunity in West Virginia with the world. Follow the daily304 on Facebook, Twitter, and Instagram @daily304. Or find us online at wv.gov and just click the daily304 logo. That's all for now. Take care. Be safe. Get outside and enjoy all the opportunity West Virginia has to offer.

In this episode, host Alex Rawlings welcomes James Carver, a seasoned CFO with two private equity-backed exits under his belt. James shares his unique journey from the trading desk to executive leadership, and unpacks valuable lessons from navigating complex M&A deals, ESOP sales, and private equity integrations.⏱️ Episode Highlights00:00 – Intro & Background James shares his career path from stock analysis to FP&A and investment banking before stepping into CFO roles.05:22 – Transition to Corporate Finance & First Exit How James helped scale a medical distributor from $30M to $65M, leading to a PE-backed strategic sale.08:47 – Second Exit in Charlotte Turning around a struggling portfolio company and leading it through a successful 2024 exit.09:51 – Common CFO Hiring Mistakes in PE The importance of SOPs, process infrastructure, and cross-functional alignment.12:13 – Strategic Focus: Quote-to-Cash & Customer Experience Mapping key processes to maximize customer lifetime value and ROI.13:35 – Value Creation Before Exit Driving growth through territory expansion, sales team optimization, inventory efficiency, and acquisitions.17:26 – Exit Lessons Why having no advisor in his first sale was a challenge—and how having one in the second made a big difference.21:17 – Acquiring Smaller Businesses James' playbook for building trust with founders, being transparent, and respecting their culture post-acquisition.25:37 – Final Advice Embrace best practices from acquired companies—don't force your way if theirs is better.26:32 – Resources James recommends the Wall Street Journal and CNBC to stay sharp on market trends.27:28 – Contact

In this episode of Front Cover: A Rough Notes Podcast on the Agency Intelligence Podcast Network, Jason Cass sits down with Diane Keil-Hipp, Chief Operations Officer at Knight Insurance Group, the agency featured on the March 2026 front cover of Rough Notes Magazine.  Key Topics: Landing on the front cover of Rough Notes Magazine, a goal Knight set five years in advance How a 165-year history shapes Knight Insurance's identity and culture Revitalizing Toledo's Warehouse District and leading the Warehouse District Association Why private equity's impact on a local competitor pushed Knight toward employee ownership How Knight's ESOP rewards both salary and tenure for long-term staff The five stakeholders Knight serves and why no decision can benefit one at another's expense Maintaining three levels of carrier relationships and a formal Carrier of the Year award Why live phone answers and relationship-first practices still drive Knight's growth Diane's PhD dissertation on the three internal factors that cause organizations to decline Knight's three core values: enduring relationships, relentless focus, and exceptional standards Reach out to: Diane Keil-Hipp Jason Cass Visit Website: Knight Insurance Group Rough Notes Magazine Produced by PodSquad.fm

In this episode, Jason and Makenzie sit down with Steve Thornton and Eric Harris of Monte Sano Research Corporation (MSRC) to discuss the company's evolution to employee ownership. They reflect on their company's journey to an ESOP and how succession was intentionally embodied well before the formal transition, and the cultural foundations that made ESOP alignment a natural fit. The conversation also explores how employee ownership can bridge founders to successors, along with candid advice for leaders considering this path, including preparation, key decisions, and lessons learned along the way.

Most restaurateurs build concepts around a menu or a chef. Justin Cucci built Edible Beats around a philosophy—one that's challenged conventional wisdom and redefined what restaurant success looks like. From turning historic spaces into thriving concepts to pioneering an employee-owned business model, Justin has proven that restaurants can be both financially sustainable and deeply meaningful. In this episode, we dig into why he bet on an ESOP model, how he scaled without losing soul, and what the next decade of restaurant leadership should look like. If you've ever wondered how to grow without compromising your values, this conversation is for you.To learn more about Edible Beats and how they're reshaping restaurant culture, visit https://www.ediblebeats.com._________________________________________________________Free 5-Day Restaurant Marketing Masterclass – This is a live training where you'll learn the exact campaigns Josh has built and tested in real restaurants to attract new guests, increase visit frequency, and generate sales on demand. Save your spot at restaurantbusinessschool.com

Joe and Big Al spitball two sides of the retirement equation, today on Your Money, Your Wealth® podcast number 570. Daniel in Texas is 40 and worrying about how to support Mom and Dad if their money runs out. Can he build some kind of financial safety net for them without ruining his own retirement? Jemma's 82-year-old mom is drawing down her portfolio. Is locking in guaranteed income with an annuity a smart move, or could that create new problems down the road? Plus, "Cookie and Gerry" want to walk away from work before 50 with a big brokerage account and a pension. Are they positioned correctly? How can they avoid pulling the wrong levers at the wrong time? And "Fred and Wilma" are staring at a potential multi-million-dollar ESOP payout. What levers do they need to pull so they can retire at 46 and shout "Yabba Dabba Doo"? Free Financial Resources in This Episode: https://bit.ly/ymyw-570 (full show notes & episode transcript) 10 Steps to Improve Investing Success - free download What to Do When the Stock Market Gets Crazy - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter   Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings   Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:57 - Can I Afford to Be My Parents' Retirement Plan? (Daniel, Texas) 07:07 - Will an Annuity Really Save Mom From Running Out of Money? (Jemma) 15:07 - Can We Retire in Our Early 50s With a Pension and a $190K Spend? (Cookie and Gerry) 30:39 - Can We Retire Early at 46 With a $4M ESOP and a $210K Spend? (Fred and Wilma, CA) 44:23 - Outro: Next Week on the YMYW Podcast

Sooner or later, most business owners run into the same unsettling question: How do I actually get out of this thing? Pass it to family? Sell to a competitor? To key employees? To private equity? To an ESOP or an Employee Ownership Trust? Or maybe just shut it down?There's no shortage of advice—but almost all of it comes with strings attached. Most advisors know one path best, and not coincidentally, it's the path they're paid to promote. Sorting through the options on your own can feel overwhelming, expensive, and risky. What if there were a place to get an honest, apples-to-apples comparison—one that looks at your specific business and lays out what really fits?That's the problem Sonali Kothari is trying to solve with Zolidar, a startup she co-founded. In this episode, she explains how the company is building a tool to help owners think clearly about their exit—and why that process shouldn't start five years too late. You can even test-drive it yourself with Zolidar's free 10-minute Day Zero Guide for a preliminary assessment.

In this episode, Makenzie and Jason explore how anyone, regardless of title or department, can create enterprise value from their seat in the company. In an employee-owned environment, revenue generation isn't limited to sales roles; it's a mindset rooted in ownership. They break down how every function contributes to profitability and long-term value, and how both extroverts and introverts can leverage their unique strengths to drive impact. If you've ever wondered how your role ties to the bigger financial picture, this conversation will challenge you to think and act like an owner.

How does a 103-year-old packaging distributor double its revenue to $1 billion in just four years? In this episode of Driven by DCKAP, Rob Onorato, CEO of Shorr Packaging, reveals the strategic decisions and leadership philosophy that transformed the company from a $450 million regional player into a billion-dollar national distributor. Rob shares the secret behind his first-year strategy with the company: asking questions and listening to customers, reps, and employees. After taking on the role of CEO, he navigated a cyber attack within days, followed by a multi-million dollar failed experiment—proving why "think big, start small, move fast" isn't just a mantra, but a proven framework for scaling distribution businesses.Rob shares unique insights on building high-performance teams by recruiting top distribution talent from outside the packaging industry, creating an ESOP culture that drives employee ownership and accountability, and why their "feet on the street" approach prioritizes customer relationships over transactional sales. Tune in to a conversation that offers practical lessons on scaling businesses, building high-performance teams, navigating crises, and turning expensive mistakes into sustainable growth strategies.

Welcome to the HB Global Employee Ownership Podcast Series. In 2026, we are focusing on the importance of scaling culture through our mission, vision, values, and principles. These communications are intended for the employees of HB Global. We recognize that the general public will have access. The views expressed in these communications represent Bob Whalen in the context of HB Global and may not apply to broader audiences.If you have questions for Bob, we'd love to hear them and answer them in future podcasts. Feel free to submit them to eopodcast@hb-global.com.

In this episode, Jason and Makenzie dive into everyone's favorite word — equity — and examine what it really means beyond payouts and financial rewards. They explore how equity extends far beyond cash, defining it instead through fairness, ownership value, and property such as home equity. They also explore the responsibilities, risks, and long-term mindset that come with equity ownership, highlighting how equity represents control, alignment, and time horizon. Whether you are a business owner or simply curious about how equity works, this episode delivers a thoughtful perspective on what it truly means to have a stake in something — and why that stake matters.

Building on last week's introduction, Part two of Dave and Wayne's conversation dives into the tactical side of balancing a high-value exit with a commitment to your team. Wayne shares the real-world wisdom he's gained as President and CEO, revealing how an ESOP can serve as a catalyst for long-term culture, stability, and growth. If you are looking for an exit strategy that honors your past while securing your company's future, this is the episode for you.Tune in weekly to hear more from Mastery Partners and to receive relevant key content on your journey to maximizing your business value!GET THE BOOKS: Start with Maximizing Business Value by Tom BronsonLearn More about Scott CouchenourScott Couchenour currently serves as the “Fourth Quarter” life and business coach and founder of Serving Strong since November of 2007. Scott helps business owners and executives in their 40's and 50's who are in pursuit of their next adventure in life. He concentrates on helping create clarity and design a comprehensive life and business plan. He helps not only with strategy but secures solid traction through an iterative approach. Scott's clients are reaching new heights and accomplishing much more than they ever thought possible. Scott is also the host of the podcast show, Serve Strong Finish Strong which began in June of 2022 on the Mission Matters Podcast Network.Learn More about Wayne Witmer Wayne Witmer joined Harman in 1990, the day after returning from his honeymoon. Married with four children, Wayne enjoys family, travel, sports, and music. Wayne holds a business administration degree from Eastern Mennonite University and worked his way up from project management and business development to president and CEO. “Communicating with employees and clients to make sure that goals and expectations are met is very important,” says Wayne. “I work hard at making that a priority.”Active in the industry and community, Wayne is past president of AGCVA Valley District, Has served as an AGCVA state board member and was selected for the Butler Building Systems national advisory council. He is a past member of Harrisonburg Rotary Club board and served as club President.  Wayne currently is a member of the Central Valley Habitat for Humanity Board. Faith and trust in God is what keeps him focused and inspired to lead well in all he does.Mastery Partners Elevating Businesses to Achieve The Business Owner's Dream Exit The unfortunate reality is that for every business that comes on the market (for whatever reason), only 17% of them achieve a successful exit. You read that right. 83% of attempted business transitions never reach the closing table. Mastery Partners is on a mission to change that. We ELEVATE businesses to achieve maximum value and reach that dream exit. Our objectives are simple - understand where the business is today, identify opportunities for dramatic improvement, and offer solutions to enhance the business, making it more marketable and valuable. And that all starts with understanding the business owner's definition of his or her dream exit. Mastery has developed a 4-Step Process to help business owners achieve their dreams. STEP 1: Transition Readiness Assessment STEP 2: Roadmap for Value Acceleration STEP 3: Relentless Execution STEP 4: Decision: Now that desired results are achieved, the business is ready for the next step in the journey! CONNECT WITH MASTERY PARTNERS TO LEARN MORELinkedInWebsite© 2025 Mastery Partners, LLC.

In this episode, Jason Schroeder challenges the common misconception that higher leadership roles should involve doing less and distancing oneself from the work. He explains that true leadership is about doing more serving others, staying involved, and supporting the team. Jason uses the analogy of a mountain climber who, after reaching the top, must send the rope back down to help others reach the summit, instead of abandoning them. He makes the case that as a leader, your responsibility is to help more people, provide more guidance, and keep the vision alive, not retreat to a corner office and reduce your involvement. What you'll learn in this episode: Why higher leadership roles require more, not less, involvement in the work. The danger of distancing yourself from the team once you've "made it". How leadership should be about helping others achieve their goals, not just enjoying perks. The role of leaders in creating an ESOP, driving progress, and providing ongoing training. Why true leaders send the rope back down after reaching the top, helping others climb with them. As a leader, when you reach the top, do you send the rope down to help others, or do you retreat and work less? If you like the Elevate Construction podcast, please subscribe for free and you'll never miss an episode.  And if you really like the Elevate Construction podcast, I'd appreciate you telling a friend (Maybe even two

Send us a textTwo veterans compare notes across decades and land on a surprising culprit: speed. We've made decks faster, calls shorter, and data denser—yet clear thinking, discovery, and trust are harder to find. So we unpack how to win in a world that moves this quickly without letting the work get shallow.We start with an honest look at craft. Flip charts forced logic; slides can hide it. That same trade-off shows up in sales. Features and price feel efficient, but real results come from visiting the operation, learning how money is made, and fixing pain the customer actually feels. We share field-tested rituals—loss reviews, win reviews, and customer councils—that reveal blind spots and shape offers that stick. There's smart tech here too: AI models that predict companion parts and boost helpful upsells, but only because they're tied to domain knowledge and genuine curiosity.Culture becomes the engine. People do their best work when they're known and safe to speak up. We talk about simple moves that change everything: time blocking that protects “think time,” a monthly “three-to-five fixes” habit anyone can own, and playful recognition that makes excellence visible. An ownership mindset—like an ESOP—teaches cause and effect, rewards small wins, and turns visibility tools from “surveillance” into shared gains. We also call out a quiet gap: parts, service, and sales management lack practical certification, so many learn to survive the job without ever learning the job. Internships, co-ops, and rotational training rebuild the bench and speed trust.AI threads the conversation with nuance. Adoption is lower than the headlines suggest, and that's normal; every breakthrough needs process change to matter. We argue for foundations first—teach measurement before automating it, teach thinking before prompting—and for using AI to buy back time you reinvest in relationships, strategy, and craft. The constant through every story is simple: reduce pain, earn trust, and create space to think. Do that, and the tools amplify you. Skip it, and the tools just make bad habits faster.If this resonates, share it with a teammate, subscribe for more candid conversations, and leave a review telling us one ritual you use to protect your thinking time. Visit us at LearningWithoutScars.org for more training solutions for Equipment Dealerships - Construction, Mining, Agriculture, Cranes, Trucks and Trailers.We provide comprehensive online learning programs for employees starting with an individualized skills assessment to a personalized employee development program designed for their skill level.

Host Scott Couchenour sits down with Harman Construction President and CEO, Wayne Witmer, to explore the strategic advantages of Employee Stock Ownership. In this episode, they break down the critical question: Is an ESOP the right choice for your business transition? Join us as we discuss how to balance leadership succession with a commitment to the people who helped build your business. Tune in weekly to hear more from Mastery Partners and to receive relevant key content on your journey to maximizing your business value!GET THE BOOKS: Start with Maximizing Business Value by Tom BronsonLearn More about Scott CouchenourScott Couchenour currently serves as the “Fourth Quarter” life and business coach and founder of Serving Strong since November of 2007. Scott helps business owners and executives in their 40's and 50's who are in pursuit of their next adventure in life. He concentrates on helping create clarity and design a comprehensive life and business plan. He helps not only with strategy but secures solid traction through an iterative approach. Scott's clients are reaching new heights and accomplishing much more than they ever thought possible. Scott is also the host of the podcast show, Serve Strong Finish Strong which began in June of 2022 on the Mission Matters Podcast Network.Learn More about Wayne Witmer  Wayne Witmer joined Harman in 1990, the day after returning from his honeymoon. Married with four children, Wayne enjoys family, travel, sports, and music. Wayne holds a business administration degree from Eastern Mennonite University and worked his way up from project management and business development to president and CEO. “Communicating with employees and clients to make sure that goals and expectations are met is very important,” says Wayne. “I work hard at making that a priority.”Active in the industry and community, Wayne is past president of AGCVA Valley District, Has served as an AGCVA state board member and was selected for the Butler Building Systems national advisory council. He is a past member of Harrisonburg Rotary Club board and served as club President.  Wayne currently is a member of the Central Valley Habitat for Humanity Board. Faith and trust in God is what keeps him focused and inspired to lead well in all he does.Mastery Partners Elevating Businesses to Achieve The Business Owner's Dream Exit The unfortunate reality is that for every business that comes on the market (for whatever reason), only 17% of them achieve a successful exit. You read that right. 83% of attempted business transitions never reach the closing table. Mastery Partners is on a mission to change that. We ELEVATE businesses to achieve maximum value and reach that dream exit. Our objectives are simple - understand where the business is today, identify opportunities for dramatic improvement, and offer solutions to enhance the business, making it more marketable and valuable. And that all starts with understanding the business owner's definition of his or her dream exit. Mastery has developed a 4-Step Process to help business owners achieve their dreams. STEP 1: Transition Readiness Assessment STEP 2: Roadmap for Value Acceleration STEP 3: Relentless Execution STEP 4: Decision: Now that desired results are achieved, the business is ready for the next step in the journey! CONNECT WITH MASTERY PARTNERS TO LEARN MORELinkedInWebsite© 2025 Mastery Partners, LLC.

In this episode, Jason and Makenzie continue “The Foundations of Transition” series by highlighting the courage it takes to transition a company and its leadership. Each workshop-style episode builds on the last, offering practical guidance to help business owners move forward with confidence. This second foundation explores what should be included in a thoughtful transition plan and how leaders can focus on long-term vision rather than falling into fear. Jason and Makenzie discuss how intentional planning, clear direction, and courageous decision-making can shape a successful future for both owners and their organizations.

In this episode of the Sargent On Track Podcast, President & CEO Eric Ritchie is joined by Controller Casey Flynn and Vice President of Accounting & Administration Carey Sheehan in the Flywheel Studio to share a behind-the-scenes look at the Finance team that keeps Sargent moving. Carey reflects on her transition after 25 years as Controller, Casey discusses her move into the Controller role, and both explain how accounting, cost control, and administration support the field, strengthen compliance, and protect the ESOP through reliable reporting and responsiveness.If you liked this week's episode and are interested in becoming an Employee-Owner at Sargent, please visit our careers page on the Sargent website. https://sargent.us/apply/If you have an episode suggestion, please send your idea to:sbennage@sargent.us

Employee Stock Ownership Plans (ESOPs) are often talked about—but rarely understood. For many business owners, they represent one of the most powerful (and misunderstood) succession and liquidity strategies available today. In this episode, Adam sits down with Kelly Finnell, one of the nation's foremost ESOP experts, to break down how ESOPs really work, why they offer unique tax advantages, and when they may outperform traditional exits like private equity or third-party sales. Whether you're a business owner thinking about succession—or an advisor guiding clients through exit planning—this conversation delivers clarity without the jargon. Episode Timestamps 00:00 – Introduction to ESOPs and Kelly Finnell's background 02:00 – What an ESOP is (and why it's both a succession strategy and a retirement plan) 05:00 – How ESOPs create liquidity and operate tax-free 07:30 – The biggest benefits of ESOPs for employees 09:00 – Owner tax advantages, including Section 1042 deferral 11:00 – Who is a good candidate for an ESOP? (financial + cultural fit) 14:30 – ESOPs vs. private equity and strategic buyers 17:00 – Common myths and misconceptions about ESOPs 19:30 – Why ESOPs are growing rapidly right now 22:00 – "Compassionate capitalism" and preserving company legacy 25:00 – Final advice for business owners and advisors considering ESOPs Key Takeaways

In this episode, Jason explores the feeling of being dropped into a class you never signed up for; where something important is happening and you didn't realize you were expected to know it. He discusses how fear and overwhelm during business transitions often come from delayed awareness, not a lack of effort, and reframes what readiness really means in the context of succession planning and ESOP transitions.

What is the best way to build a business that creates long-term wealth and a successful exit?In this episode of the Alternative Investing Advantage Podcast, Alex Perny sits down with David Flores Wilson, Managing Partner at Sincerus Advisory, to break down how entrepreneurs and small business owners can design their companies for scalability, valuation growth, and eventual exit—while avoiding the most common mistakes that destroy value.David explains how exit planning should start from day one, why understanding business valuation is critical, and how owners can reduce dependency on themselves by building systems, processes, and management teams. The conversation also explores tax-efficient exit strategies, business entity structures, succession planning, and how entrepreneurs can prepare financially and psychologically for life after selling their company.Whether you plan to sell to a strategic buyer, private equity, management team, family members, or through an ESOP, this episode provides a practical framework for building a business that is attractive to buyers and aligned with your long-term goals.Topics Covered:• How exit planning works for business owners• How to increase business valuation and multiples• Stock sale vs asset sale differences• S-Corp vs C-Corp considerations• Qualified Small Business Stock (QSBS) explained• How to make a business less owner-dependent• Recurring revenue vs project-based revenue• Succession planning for family businesses• Life and identity after selling your business• Building wealth inside and outside the businessIf you're an entrepreneur, founder, or small business owner looking to turn your company into a powerful wealth-building vehicle, this episode is for you.Subscribe to our YouTube channel and join our growing community for new videos every week.If you are interested in being a podcast guest speaker or have questions, contact us at ⁠⁠⁠⁠⁠⁠⁠⁠Podcast@AdvantaIRA.com⁠⁠⁠⁠⁠⁠⁠⁠.Learn more about our guest, David Flores Wilson:linkedin.com/in/david-flores-wilson-cfp®-cfa-02b5aLearn more about Advanta IRA: https://www.AdvantaIRA.com/ https://podcasters.spotify.com/pod/show/advanta-irahttps://www.linkedin.com/company/Advanta-IRA/https://twitter.com/AdvantaIRA https://www.facebook.com/AdvantaIRA/ https://www.instagram.com/AdvantaIRA/#businessexitstrategy #alternativeinvesting #selfdirectediraAdvanta IRA does not offer investment, tax, or legal advice nor do we endorse any products, investments, or companies that offer such advice and/or investments. This includes any investments promoted or discussed during the podcast as neither Advanta IRA nor its employees, have reviewed or vetted any investments, persons, or companies that may discuss their services during this podcast.  All parties are strongly encouraged to perform their own due diligence and consult with the appropriate professional(s) before entering into any type of investment.

A bright blue guitar covered in orange koi fish vanished from a museum display … and Swifties immediately knew what it meant.That distinctive guitar—the one Taylor Swift used to record Speak Now—had been a gift. Hand crafted, by the founders of Taylor Guitars. When she brought it back on stage during her Eras tour, the fans went wild.In this episode, Bob Taylor and Kurt Listug tell the unlikely story behind one of the world's most respected acoustic guitar brands—how it grew from a tiny San Diego repair shop doing $30,000/year into a global business with nine-figure revenue. And how it survived every challenge that should've ended it: a distributor deal that didn't add up, a brutal market crash in the disco era, and such slow growth that—five years into the business—the founders could barely pay themselves a salary ($15/week).It's a story about serendipity, obsession, and the quiet power of a partnership where each person knows their lane—Bob with relentless craftsmanship, Kurt with the discipline to turn it into a massive business.Plus: the purple 12-string featured in Prince's “Raspberry Beret” … the MTV Unplugged boom that boosted the business … and why the founders eventually chose to convert the business to 100% employee ownership.What you'll learn:The operating principle that changed Taylor's production: one finished guitar beats 10 half-finished onesHow to make a slow-growth business survivable (and why Bob saw it as “education”)How to recognize a bad distribution dealThe design innovations that drew musicians to Taylor guitarsWhy Bob got a call from Taylor Swift's dad when she was 14—and the iconic guitar her fans grew to loveHow the business managed demand shocks during COVIDWhy an ESOP can be a founder's best “succession plan” decisionWhat a great partnership looks like in practiceTimestamps:(Timecodes are approximate and may shift depending on platform.)00:06:39 – The high school moment: “I didn't have $175 … so I thought, I'll just make a guitar.”00:07:14 – The American Dream shop: the hippie setup that became a launchpad00:10:20 – The “baseball bat neck” problem with guitars—and Bob's happy-accident innovation00:11:59 – Buying the shop for $3,700 … then realizing it didn't include the name (or phone number)00:22:31 – The sentence that changed everything: “Would you rather have 10 half-done guitars or one done guitar?”00:26:28 – The distributor deal that ended in layoffs: good sell job, bad math, and what they learned00:38:30 – Buying out the third partner: why the business doubled when “the brakes were off”00:59:52 – Before Taylor Swift was Taylor Swift: a phone call from a proud dad, and a promotional concert that almost went unheard01:09:36 – The inflation economics of guitar building***Hey—want to be a guest on HIBT?If you're building a business, why not get advice from some of the greatest entrepreneurs on Earth?Every Thursday on the HIBT Advice Line, a previous HIBT guest helps new entrepreneurs work through the challenges they're facing right now. Advice that's smart, actionable, and absolutely free.Just call 1-800-433-1298, leave a message, and you may soon get guidance from someone who started where you did, and went on to build something massive.So—give us a call. We can't wait to hear what you're working on.***This episode was produced by Alex Cheng with music composed by Ramtin Arablouei. It was edited by Neva Grant with research help from Rommel Wood. Our engineers were Patrick Murray and Maggie Luthar.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode, Jason sits down with Pete Schuler, Senior Vice President and Head of Consulting at Blue Ridge, who brings more than 30 years of experience in the ESOP industry. As a trusted advisor on ESOP transactions and compliance, Pete has worked across all stages of the ESOP lifecycle and offers a deep, practical perspective on what makes these transactions successful. Jason and Pete dive into the key “R's” of an ESOP transaction, unpacking critical considerations around plan design, compliance, and transaction readiness. Drawing on Pete's extensive experience advising companies, working alongside investment banks, and leading complex ESOP projects, this conversation provides valuable insights for business owners and advisors navigating ESOP planning and execution.

Kelly Finnell is an ESOP (Employee Stock Ownership Plan) advisor with 40 years of experience. He shares: The benefits of an ESOPWhy it's not for everyoneTax strategies and benefitsWhy an ESOP can be better than a 401k plan for ownersIf you or anybody you know would like to sell to employees this is a must listen.You can reach Kelly at www.execfin.com or kfin@execfin.com.John MartinkaJessica MartinkaContact us via either website or give us a call and be sure to check out our videos https://nokomisadvisory.com/https://www.martinkaconsulting.com/ https://www.gddpodcast.buzzsprout.comhttps://www.youtube.com/c/JohnAMartinka/videos 425-515-4903

In today's Tech3 from Moneycontrol, we track the biggest startup and tech stories shaping the day. From Davos, Union Minister Ashwini Vaishnaw speaks on India–US trade talks, AI investments, online gaming rules and India's ambitions in semiconductors and artificial intelligence. We also bring you voices from top IT leaders on how AI is changing business models and hiring. Plus, a deep dive into PhonePe's IPO numbers and why newly listed tech firms are facing shareholder resistance on ESOP plans.

What can we learn from a lifetime spent on the road—and the people you meet along the way?In this episode of Terminal Exchange, we celebrate the retirement of Steve Mallory, who wraps up eight years at Nussbaum Transportation after a long and remarkable career in the trucking industry.Steve reflects on his journey that began in the late 1970s, starting as a young truck driver learning the ropes in Chicago and eventually accumulating nearly 2.8 million safe driving miles. He shares stories from the early days—navigating with paper atlases before modern technology, hauling hazmat freight, and adjusting to the ever-changing demands of the road.Steve also discusses his transition from driver to dispatcher at Nussbaum, serving in multiple pods and eventually becoming a float driver manager. He expresses deep gratitude for Nussbaum's culture, the ESOP program that provided meaningful retirement benefits, and the family-like atmosphere that made him say Nussbaum felt like “the company I wish I'd found thirty years earlier.”The conversation also touches on Steve's personal interests, including classic cars and country music, as well as heartfelt messages from coworkers honoring his impact on the company and his advocacy for drivers.Press play to join us in celebrating Steve's legacy and the stories that shaped a remarkable career!FROM TODAY'S PODCAST• Guest: Jim Revelle, Corporate Chaplains of AmericaLET'S CONNECT• Visit us online at terminalexchange.org • Follow The Terminal Exchange on social media! • Facebook• Instagram • XABOUT NUSSBAUM Employee-Owned, Purpose Driven | Nussbaum is an industry-leader in over-the-road freight transportation. For more information on our award-winning services and top-paying driver careers, visit nussbaum.com or nussbaumjobs.com.

In this episode, Makenzie Wirth interviews Joe Jones, Audit Partner at Berman Hopkins. As lead of the firm's Construction Advisory Services Team, Joe shares his perspective on the recent trend of construction companies transitioning ownership to ESOPs. From audit considerations, valuation risks, bonding, backlog quality, governance, and jobsite culture, Makenzie and Joe provide practical advice for construction owners considering employee ownership.

Kristen Deere is a Director in the Employee Benefit Plan Audit Services practice at Weaver & Tidwell, LLP. With over 20 years of experience in public accounting, she has specialized in auditing employee benefit plans throughout most of her career. Kristen leads audits for both private and public plan sponsors, covering a wide range of plan types, including defined contribution (401(k), 403(b), ESOP, 11-K), defined benefit, and health & welfare plans. Kristen has led audits for plans ranging from under $1 million to over $45 billion in assets, ensuring compliance with complex ERISA, DOL, and SEC compliance requirements. Her industry expertise spans not-for-profit organizations, government entities, financial services, energy, and a diverse portfolio of employee benefit plan administrators. She also champions technology innovation initiatives that enhance audit quality and efficiency. In this episode, Eric and Kristen Deere discuss:Understanding why benefit plan audits existUsing technology to reduce audit burdenPreparing proactively for smooth auditsFollowing the plan document above all elseKey Takeaways:Department of Labor audits are required for large plans to confirm that operations follow the plan document. Their goal is to protect participants and ensure promised benefits are delivered accurately. Audits may surface issues or risks, but they are not designed as fraud detection guarantees.Employee benefit plan audits rely heavily on payroll, census, and record-keeper data. Audit software, structured spreadsheets, and direct system access improve accuracy and efficiency. When used well, technology makes audits less disruptive for plan sponsors.Successful plan sponsors stay organized throughout the year, not just during audit season. They maintain clear documentation, communicate changes early, and reconcile data regularly. This preparation prevents last-minute scrambles and repeated audit findings.Most audit issues trace back to operations drifting from the written plan document. Payroll, record keepers, and processes must all align with what the plan actually says. Reading, understanding, and following the document is the strongest safeguard against errors.“They can outsource the function, but they can't outsource the responsibility.” - Kristen DeereConnect with Kristen Deere:Website: https://weaver.com/ LinkedIn: https://www.linkedin.com/in/kristen-derryberry/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests are not necessarily agreed by, or the same opinions of 90 North Consulting or of Eric Dyson.

What happens when some of the most influential thinkers in wholesale distribution get into one room and debate the future of the industry, the rise of AI, human centered leadership, and the coming wave of agentic systems?In this powerful year end roundtable, the Around The Horn panel returns for its third annual state of the industry conversation, featuring Mike Marks, Ian Heller, Dirk Beveridge, Paul Kennedy, Tom Burton, and Kevin Brown.What You Will Learn:Why AI is moving from experimentation to strategy and what this means for distributors in 2026How human centered leadership and people centric cultures are becoming competitive advantagesWhy the distributor divide is widening and how early adopters are achieving measurable gainsHow agentic systems, digital orchestration, and physical AI will reshape operationsLeadership insights on trust, empowerment, anti fragility, and preparing teams for the next decadeEpisode Highlights:03:14 The panel opens year three of the annual roundtable and explains why 2025 was a turning point17:22 Mike Marks breaks down what he is seeing in AI orchestration and contractor tech adoption31:40 Ian Heller explains why proximity and fulfillment speed are becoming competitive battlegrounds46:55 Dirk Beveridge challenges the industry to move from resilience to true anti fragility58:14 Paul Kennedy shares how ESOP leadership shapes digital adoption and trust01:12:09 The group debates agentic AI, workforce displacement, and the future of work01:33:42 Final predictions for 2026 and what will separate the distributors who thrive from those who driftMeet the Guests:Mike MarksFounding Partner at Indian River Consulting Group and one of the most respected strategists in modern distribution.Ian HellerCo Founder of Distribution Strategy Group, leading thinker on AI, data, and competitive disruption in the industry.Dirk BeveridgeFounder of the Fully Alive Movement, champion of people centered leadership and the human side of distribution.Paul KennedyPresident and CEO of DSG, ESOP leader, and current chair of the National Association of Electrical Distributors.Tools, Frameworks, and Strategies Mentioned:AI Orchestration ModelsAgentic AI SystemsCustomer Intelligence PlatformsOrder AutomationAnti Fragility Leadership FrameworkDigital Centers of ExcellenceESOP Driven Workforce ModelsClosing Insight:“Thriving companies are built by thriving individuals. Not the other way around.”This roundtable makes one message clear: AI may accelerate performance, but people will determine the future. How leaders shape culture, trust, empower teams, and integrate technology will define the next decade in distribution.Leave a Review: Help us grow by sharing your thoughts on the show.Learn more about the LeadSmart AI B2B Sales Platform: https://www.leadsmarttech.com/ Join the conversation each week on LinkedIn Live.Want even more insight to the stories we discuss each week? Subscribe to the Around The Horn Newsletter.You can also hear the podcast and other excellent content on our YouTube Channel.Follow us on Facebook, Twitter, Instagram, or TikTok.

In this episode of the Journey to an ESOP podcast, Jason and Makenzie kick off a new series that will continue throughout 2026: The Foundations of Transition, a workshop-style series focused on owner readiness. Each episode builds on the last, creating a practical framework for navigating ownership transition. The first foundation explores owner readiness and identity, helping owners define their vision for ownership and the future of their business. The conversation centers on identity: how your values and beliefs shape who you are as an owner, guide your decisions, and influence the life of your company. Understanding identity is critical, as it affects not only who your business is today, but also what it becomes after transition. 

Season 7 begins with a simple truth: change is inevitable, but being unprepared is optional. In this opening monologue, Jason introduces Continuity Through Change and outlines what this season will explore: leadership under motion, foundations that hold through transition, and the often-ignored emotional mechanics behind ownership decisions. 

In this episode of the Journey to an ESOP podcast, Jason sits down with Danny Massey, Head of Strategy and Communications for Expanding ESOPs--a national coalition working to dramatically broaden employee ownership across the United States. Danny shares how he became involved in the ESOP world, and the conversation dives into the powerful benefits of employee ownership, why it matters now more than ever, and how expanding access can create lasting impact for workers and businesses alike.

In this episode of the On Track Podcast, President & CEO Eric Ritchie is joined by Tasha Gardner, VP-Finance & CFO, in the Flywheel Studio to wrap up the year with a simple message: Merry Christmas! They reflect on a strong finish to 2025, including board support for the ESOP, welcoming the former E.L. Vining team as Sargent's Western Maine region, and continued growth in people and work, then look ahead to 2026 with the largest backlog in company history and big momentum heading into Sargent's 100th anniversary year. The episode closes with a safety reminder, a couple of shout-outs from the field, and a genuine thank-you to employee-owners for the work that made the year possible. 12/OC – 100th Anniversary Party Band:https://open.spotify.com/artist/6BeyU5SW5d9NiTlzsG2LrUIf you liked this week's episode and are interested in becoming an Employee-Owner at Sargent, please visit our careers page on the Sargent website. https://sargent.us/apply/If you have an episode suggestion, please send your idea to:sbennage@sargent.us

Manuel Nikoleyczik spricht mit Bastian Krautwald über die professionelle Strukturierung von Beratern und Anteilsverteilung. Er teilt, warum virtuelle Anteile oft besser als echte Beteiligungen sind, wie man Reference-Checks richtig durchführt und warum der ESOP-Pool vor der Finanzierungsrunde wichtig ist. Was du lernst: Die richtige Strukturierung von Berater-Beteiligungen Warum Reference-Checks entscheidend sind Die Timing-Frage beim ESOP-Pool Den richtigen Mix aus Professionalität und Pragmatismus ALLES ZU UNICORN BAKERY: https://stan.store/fabiantausch   Bastian Krautwald:LinkedIn: https://www.linkedin.com/in/bastiankrautwald/  Manuel Nikoleyczik:LinkedIn: https://www.linkedin.com/in/manuelnikoleyczik/ Musfeldt: https://www.musfeldt.law/ Join our Founder Tactics Newsletter: 2x die Woche bekommst du die Taktiken der besten Gründer der Welt direkt ins Postfach: https://www.tactics.unicornbakery.de/ 

In this holiday episode, Jason and Makenzie explore the ESOP as a meaningful gift to a company's employees. They break down how ESOP benefits work for both owners and employees and unpack the mechanics behind inside notes versus outside notes. This episode is a helpful resource in understanding ESOP verbiage and the real benefits that employees receive through a company transitioning to an ESOP. 

In this episode, Jason and Makenzie let three “ESOP ghosts” guide us through the employee-ownership journey. They revisit the origins of your ESOP, take a candid look at how things stand today, and discuss how to intentionally choose its future. They highlight how the decisions, habits, and culture shape long-term ESOP success.

American Systems opened for business in 1975 and transitioned to an employee stock ownership plan 15 years later, a model that makes it one of the market's largest 100% ESOP companies.CEO John Steckel joins for this episode to help mark American Systems' 50th anniversary and explains some moves it has made this year to set the company up for the next 50, including its largest-ever acquisition.In talking with our Ross Wilkers, Steckel lays out what the purchase of Epsilon brings to American Systems and larger trends in managed services that led to the transaction. Secured data centers are part of that equation too and increasingly reflect larger conversations in society, as Steckel explains.Of course, American Systems' status as an ESOP features in the conversation too. American Systems (No. 87) is one of three ESOP companies on the 2025 WT Top 100 ranking alongside Torch Technologies (No. 66) and DCS Corp. (No. 77).

In this episode, the Journey to an ESOP podcast speaks directly to founders who feel the weight of leadership and wonder how their team will successfully shift into an ESOP model. Through a blend of personal story and practical insight, Jason explores how identity, encouragement, and intentional leadership can help bridge that gap and prepare both leaders and teams for a confident, sustainable ESOP transition.

Download our “Tell a Better Story, Win Better Clients” E-book at https://working-towards.com/What does it take to design, build, and install stainless-steel rooftop pools for some of America's biggest cities? Greg Carnforth, President of Chester Pool Systems (https://www.chesterpools.com/), joins me to share the remarkable story behind one of the most specialized construction companies in the country.With 35+ years in the industry, Greg has helped transform Chester Pool Systems into the go-to provider for engineered stainless-steel pools across New York City, Chicago, New Orleans, Denver, San Diego, and beyond. In this episode, Greg walks through the engineering, logistics, and craftsmanship required to design and fabricate entire pool systems in Indiana — then hoist them onto rooftops hundreds of feet in the air.We also talk through Chester's transition to a 100 percent employee-owned company, how the ESOP reshaped culture and collaboration, and the unique challenges of building inside billion-dollar high-rise projects.

In this episode of the On Track Podcast, President & CEO Eric Ritchie is joined by Vice President of HR Amanda Martin and HR Generalist Jennifer Snow in the Flywheel Studio for a conversation that both introduces Jen to the Sargent team and leans into what it means to have “healthy holidays.” Eric and Amanda walk through why adding Jen to the HR team is such a big win, how her background in nonprofits and county government prepared her for Sargent, and what she's noticing about our ESOP culture and the company's commitment to people. From there, the group gets honest about the stress between Thanksgiving and Christmas. Short days, winter prep, money pressures, being away from home, they share practical, down-to-earth ideas for not overextending yourself, setting boundaries, using resources like the EAP, and simply checking in on each other.If you liked this week's episode and are interested in becoming an Employee-Owner at Sargent, please visit our careers page on the Sargent website. https://sargent.us/apply/If you have an episode suggestion, please send your idea to:sbennage@sargent.us

In this episode, Tom Mallon, General Partner at Perpetuate Capital, discusses his journey from founding Regent Surgical to pioneering ESOP based financing models, the long term value they create for employees, and how Perpetuate Capital helps founders transition their companies while preserving culture and strengthening future growth.

“For the employees who spend their career with us, we want to create millionaires.”In this episode, Bob Whalen, CEO of HB Global, joins Kate Volman to share his insights on leadership and creating a people-first culture. Bob explains the power of Employee Stock Ownership Plans (ESOPs) in driving both financial success and a stronger company culture. He also reflects on his leadership journey, highlighting how growth is more than just revenue. It's about creating opportunities for employees to thrive. Bob offers valuable lessons on employee engagement and embracing change in today's evolving business landscape.In this episode, you'll discover:The value of allowing employees to take ownership of their workWhy communication is key when facing challengesThe importance of being adaptable to change, especially in industries impacted by AIInvest in a coach to achieve your dreams: https://www.floydcoaching.com/Discover how to implement The Dream Manager Program:https://www.thedreammanager.com/Things to listen for:(00:00) Intro(01:09) The power of employee ownership(04:47) Hesitations with employee ownership(08:17) Building a thriving ESOP company culture(11:56) Where leaders can learn more about ESOPs(16:34) Finding fulfillment in helping employees(22:29) People-centered leadership, AI, and workforce implications(34:54) Rating HB Global's company culture(39:01) Bob's book and podcast recommendations for leadersResources:Floyd CoachingThe Culture AssessmentMatthew Kelly's BooksFloyd Coaching's BlogConnect with the GuestBob Whalen's LinkedInHB GlobalConnect with the Host & Floyd Coaching:Kate Volman's LinkedInFloyd Coaching on LinkedInFloyd Consulting on FacebookFloyd Consulting on TwitterFloyd Consulting on YouTubeFloyd Consulting on Instagram

If you've ever wondered whether an ESOP could be the right succession or liquidity strategy for your business, this episode breaks it down in practical, owner-friendly terms. ESOPs continue to gain traction among business owners, advisors, and management teams looking for a tax-advantaged way to transition ownership while preserving company culture and leadership continuity. In this conversation, we take a clear-eyed look at how ESOPs actually work, who they're right for, and the real impact they can have on company performance. In this episode of Behind The Numbers With Dave Bookbinder, I'm joined by Kelly Finnell, president of Executive Financial Services and author of The ESOP Coach. Kelly has spent decades helping business owners evaluate ESOPs as part of their succession planning, and he brings both technical knowledge and real-world experience to the table. We discuss: The biggest myths and misconceptions business owners have about ESOPs How ESOPs compare to private equity, competitor sales, and management buyouts The traits that make a company a strong candidate for an ESOP – and the red flags How ESOP valuation works and how trustees influence deal dynamics What business owners should know about deal structure The cultural impact of employee ownership and why engagement tends to improve How leadership should communicate an ESOP to build an ownership mindset The key tax advantages that set ESOPs apart from other succession options Where ESOP efforts tend to go off track and what owners should watch for Whether you're a business owner planning ahead, a manager interested in ownership culture, or an advisor guiding clients through succession decisions, this episode provides a grounded, actionable look at ESOPs from someone who has been in the trenches. Subscribe to Behind The Numbers With Dave Bookbinder on your favorite podcast platform so you never miss an episode. If you enjoyed this conversation, please share it with your network and leave a review—it helps more business owners and advisors discover the show! About Our Guest: Kelly O. Finnell, J.D., CLU, AIF® is one of the nation's premier ESOP consultants, having spent more than 40 years helping business owners design and execute ESOPs. Kelly is one of the most sought-after speakers about ESOPs, with experience presenting at more than 300 conferences and meetings throughout the U.S. and abroad in London and Sydney. An accomplished writer, Kelly wrote the preeminent ESOP book, The ESOP Coach: Using ESOPS in Ownership Succession Planning in 2010 and this work remains the most comprehensive guide to ESOPs today. Kelly has also published dozens of articles on the use of ESOPs in Ownership Succession Planning, An active member of the National Center for Employee Ownership (NCEO) and The ESOP Association, Kelly is a consistent pillar of leadership in the ESOP community. Kelly has also served in leadership roles in numerous professional and community activities, including: President of the Memphis Chapter of the Society of Financial Services Professionals, Vestry Member and Treasurer of his church, President of Family Services of Memphis, as a member of the Board of Directors of Renasant Bank and the Economic Club of Memphis and on the Dean's Advisory Council at the Christian Brothers University School of Business. Kelly graduated magna cum laude from the University of Memphis and from the Cecil C. Humphreys School of Law. He earned the Accredited Investment Fiduciary- professional designation, awarded by the Center for Fiduciary Studies at the University of Pittsburgh.   About the Host: Dave Bookbinder is known as an expert in business valuation and he is the person that business owners and entrepreneurs reach out to when they need to know what their most important assets are worth. Known as a collaborative adviser, Dave has served thousands of client companies of all sizes and industries.    Dave is the author of two #1 best-selling books about the impact of human capital (PEOPLE!) on the valuation of a business enterprise called The NEW ROI: Return On Individuals & The NEW ROI: Going Behind The Numbers.    He's on a mission to change the conversation about how the accounting world recognizes the value of people's contributions to a business enterprise, and to quantify what every CEO on the planet claims: “Our people are this company's most valuable asset.”   Dave's book, A Valuation Toolbox for Business Owners and Their Advisors: Things Every Business Owner Should Know, was recognized as a top new release in Business and Valuation and is designed to provide practical insights and tools to help understand what really drives business value, how to prepare for an exit, and just make better decisions. He's also the host of the highly rated Behind The Numbers With Dave Bookbinder business podcast which is enjoyed in more than 100 countries.  

In this episode, we sit down with Melissa Thompson, CEO & President of the Community Foundation of Greater Huntsville, for a powerful conversation about generosity, growth, and what makes Huntsville unlike anywhere else.Melissa shares her journey from growing up across multiple states to eventually landing in Huntsville, where she found a city defined by innovation, collaboration, and open arms. She walks through the early days of the Community Foundation, its explosive growth since 2011, and the pivotal moment in 2020 that shaped the Foundation's identity and mission: mobilizing generosity.From the impact of early ESOP partnerships with Dynetics and Torch Technologies, to navigating COVID-19 relief, to equipping the next generation of philanthropists through programs like Give256, Melissa offers a transparent and inspiring look at how generosity fuels community transformation across North Alabama.Whether you're a young professional wanting to get involved, a nonprofit leader seeking insight, or simply someone who loves Huntsville, this episode is full of wisdom on leadership, relationships, philanthropy, and the future of giving in the Rocket City.https://givehsv.orgSponsored by Yellowhammer Brewing.http://yellowhammerbrewery.com