Podcasts about esop

Scott Ensign, Chief Strategy Officer at Butler/Till, joins Ari Paparo to discuss the advantages of being a 100% employee-owned agency, the rise of agentic AI in media buying, AdCP adoption, and the future of pharmaceutical advertising. Learn how Butler/Till is leveraging AI-powered workflows, healthcare expertise, mobile gaming inventory, and programmatic innovation to drive growth in a rapidly evolving media landscape. Takeaways Butler/Till operates as a 100% employee-owned ESOP, giving employees ownership stakes and allowing the agency to remain independent and agile. The agency is a women-owned and women-led business, with roughly two-thirds of employees being women. Thanks to its status as an independent agency, Butler/Till can operate with agility, making faster decisions and investing strategically without outside shareholder pressure. Butler/Till takes a product-focused approach, building technology and solutions around client needs rather than creating products solely for commercialization. Pharmaceutical advertising is shifting away from broad-reach TV campaigns toward addressable, data-driven digital media channels. Even if pharmaceutical advertising regulations change, opportunities will remain through disease-state education and targeted healthcare professional outreach. Mobile gaming remains an undervalued advertising channel, particularly for reaching healthcare professionals during everyday moments. Butler/Till participated in one of the industry's earliest agentic AI-powered media transactions using AdCP technology. Agentic AI can automate traditionally manual workflows such as RFPs, publisher negotiations, and media planning. The agency views AI primarily as a tool for accelerating work and solving talent shortages rather than replacing employees. Chapters00:00 Introduction to Scott Ensign and Butler/Till00:41 What makes Butler/Till unique as an employee-owned agency01:24 The history behind Butler/Till's ESOP structure02:25 Independent agencies vs. holding companies03:47 Product development and technology investments at Butler/Till04:33 Why Butler/Till hired a Chief Product Officer05:08 How clients approach AI and workflow innovation06:33 The changing landscape of pharmaceutical advertising08:31 Regulatory concerns and the future of pharma marketing10:44 Reaching healthcare professionals in the digital age12:15 Why mobile gaming is an overlooked advertising opportunity14:19 Butler/Till's early agentic AI and AdCP media transaction16:25 How buyer and seller AI agents could negotiate media deals19:28 Why pharma is a strong fit for agentic media buying21:24 Expanding AdCP into audio and offline media channels23:01 AI, efficiency, and the future of agency work23:57 Butler/Till's growth, hiring plans, and closing thoughts Guests: Ari Paparo, Scott Ensign Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of HALO Talks, we welcome Nick Ovenden of GreatLIFE, an organization that has redefined community recreation in the Sioux Falls, South Dakota area. What began as a sort of "accidental" golf course acquisition has evolved into a network of six golf courses, 19 fitness centers, and a bowling alley, serving over 40,000 members within a 90-mile radius. Nick joins us to discuss the unique business model that blends fitness, golf, and family activities under one membership, fostering inclusivity and long-term member engagement. Pete and Nick also dive into how their employee stock ownership plan (ESOP) is shaping company culture and succession planning, the impact of combining recreational offerings on attrition, and GreatLIFE'S commitment to building community through partnerships and transparency.  When it comes to the recovery trends that were brought up in discussion, Nick states, "If you have not gotten on the workout recovery train yet, your time and your stop is now. You got to get these products in there before these workout recovery and spas end up saturating your market." Key themes discussed Combining golf, fitness, and bowling for family experiences Membership structure: simplicity and inclusivity Community partnerships and local business integration Reducing attrition through varied activity options Transparency in financials and business education Board-driven decision-making post-ESOP transition A Few Key Takeaways 1.Unique Multi-Activity Membership Model: GreatLIFE combines golf courses, fitness centers, and a bowling alley under a single membership structure. Members can choose between single, couple, or family plans and select either a Fitness Plus or Golf and Fitness Plus membership, aiming to keep things simple and all-encompassing. This approach fosters a stronger sense of community and encourages member retention by offering a broad range of activities for various interests and life stages. 2. Intentional Face-to-Face Member Onboarding: The organization has deliberately chosen not to use online sign-ups. Instead, all memberships are started in person to ensure that team members can fully explain their offerings and guide new members to the option best suited to their needs. This helps reduce attrition by keeping members engaged with new activities as their interests change. 09:04. 3. Low Attrition Rates Driven by Diverse Offerings: With multiple activities available like fitness, golf, pickleball, bowling, and group classes, members are less likely to leave since there is always something appealing. As a result, their annual member attrition rate is relatively low (about 30%), and staff turnover is also below industry averages 09:45. 4. Community Over Competition: GreatLIFE maintains close, non-competitive relationships with other local golf courses and fitness entities. Rather than trying to compete directly, they work together and even refer potential members elsewhere if their own services do not match a visitor's needs. This bolsters the overall community and reputation, benefiting everyone. 07:16. 5. Employee Stock Ownership Plan (ESOP) as a Succession Strategy: A key differentiator is the adoption of an ESOP for succession planning. This structure allows employees to gradually gain ownership stakes in the company, fostering long-term commitment and a sense of shared responsibility. The move also helps preserve the company's culture, aligning incentives and making employees more invested in the company's success. 10:55 Resources:  Nick Ovenden: https://www.linkedin.com/in/nick-ovenden-8b047349  GreatLIFE Golf & Fitness: https://joingreatlife.com  Integrity Square: https://www.integritysq.com Prospect Wizard: https://www.theprospectwizard.com Promotion Vault: https://www.promotionvault.com HigherDose: https://www.higherdose.com

Don and Tom question whether the investment industry—and increasingly Vanguard—keeps creating new products simply to stay relevant rather than solve real investor problems. They critique Vanguard's new Target Retirement Lifetime Income Fund, which combines a target-date fund with an annuity, arguing that it sacrifices liquidity, introduces inflation risk, and obscures costs. They also take aim at Vanguard's new Active/Passive Model Portfolio Series, suggesting it adds unnecessary complexity and market-timing assumptions to what should be a straightforward indexing approach. Listener questions cover the risks of holding 72% of retirement assets in an ESOP and whether a military family should replace a simple Schwab index-fund portfolio for their two-year-old daughter with AVGE. The episode closes with a plug for The Line Uncrossed and a discussion of the real-life Civil War experiences that inspired the novel.0:12 Do investors really need new products and new ideas?2:11 Vanguard's Target Retirement Lifetime Income Fund and annuities in target-date funds4:29 Liquidity, inflation risk, and the tradeoffs of guaranteed retirement income7:44 Why immediate annuities often take years just to return your own principal9:16 Morningstar's skepticism of guaranteed-income retirement products10:46 Vanguard's new Dynamic Active Passive Model Portfolio Series12:42 Are active/passive hybrid portfolios solving a real problem?13:38 Has Vanguard lost its indexing compass?15:30 New Talking Real Money website features and submitting listener questions16:12 ESOP question: 72% of retirement assets tied to employer stock17:59 The dangers of concentrated company-stock positions21:29 Understanding ESOP returns versus traditional investments24:09 Why diversification matters more than past ESOP performance26:49 Using GI Bill benefits, a 529 plan, and a UTMA to fund a child's future28:27 AVGE versus a simple total-market index portfolio for a young child29:42 Why simplicity may be good enough for long-term investing success30:35 Discussion of The Line Uncrossed and its Civil War inspiration31:41 John B. Anderson, Andersonville Prison, and the history behind the bookQuestions? Comments? Click!

Episode SummaryAlexey Mitko is a partner at Co-Ventures, the architect behind Eucalyptus' ESOP plan, and widely known in the Australian ecosystem as "ESOP Guy." He was around employee number twenty at Canva and one of the early employees at Koala, giving him a front-row seat to three of Australia's biggest consumer tech outcomes.In this episode, Cheryl and Maxine unpack how Alexey designed the ESOP plan that led to roughly $300 million distributed back to Eucalyptus employees, the largest ESOP payout in Australian history. He walks through the three questions every founder faces but rarely verbalises: who gets equity, how much, and why you have an ESOP plan in the first place.You'll also hear how he modelled allocation across multiple rounds and hundreds of hires to avoid giving too much away early, why he personally walked the first two hundred employees through their equity, and why Australia's lack of a secondary market keeps ESOP feeling like monopoly money. Alexey closes with his Big Cojones moment: proposing to his wife, the most nervous he's ever been despite having climbed Europe's highest mountain.Time Stamps00:00 – Intro03:01 – The three ESOP questions every founder needs to answer05:58 – How to model equity allocation across rounds and hundreds of hires09:10 – Using ESOP as your most powerful recruitment and retention tool12:02 – How walking 200 employees through their equity built culture and trust15:02 – Open financials, shrinking cash balances, and what went wrong along the way17:55 – Why Australia's ESOP ecosystem is still behind Silicon Valley26:48 – Teaching employees to understand equity: the Google Sheet that started at zero29:20 – High salary vs heavy equity: giving employees a real choice32:16 – Common ESOP mistakes founders make and how to avoid them35:03 – Why Australians treat startup equity like monopoly money39:11 – The secondary market problem: why liquidity changes everything for ESOP43:25 – Why your startup career is a portfolio of equity bets46:36 – What angel investors can do to help portfolio companies build better ESOP plansSponsors:First Cheque is supported by our wonderful sponsors:Deel: Founders scale faster on Deel. Set up payroll for any country in minutes, hire anyone anywhere, and get visas handled fast, so you stay focused on scaling. Deel takes care of onboarding, HR, IT, EOR, benefits, and compliance, so your team can grow without borders.It's why more than 40,000 fast-growing companies trust Deel to move fast.Visit https://www.deel.com/dayone___Pear Tree: Pear Tree helps Australian and New Zealand founders build high-performing offshore teams without the agency middleman.As local hiring becomes more expensive and harder to fill, many operators are turning to offshore talent across engineering, development, marketing, accounting and operations at a fraction of local salary costs.The offshore horror stories you hear usually aren't a talent problem. They're the result of outsourcing agencies that overcharge clients while underpaying staff. Pear Tree takes a different approach through a direct, transparent model where your team is paid fairly, fully compliant, and focused entirely on your business.As part of the Day One community, you'll receive a free team audit to identify where offshore talent could move the needle in your business, plus 20% off your first hire. Learn more at http://dayone.fm/peartreeFirst Cheque is part of Day One.Day One helps founders and startup operators make better business decisions more often. To learn more, join our newsletter to be notified of new First Cheque episodes and upcoming shows.Mentioned in this episode:Deel x PX_Script 1Deel x PX_Script 2Pear TreeIf you're a founder or operator trying to scale, here's the reality — Australian hiring is getting harder, salaries are at record highs, and the talent you need is increasingly out of reach. The best operators are quietly building offshore teams of engineers, marketers, accountants and analysts at a fraction of the cost. Pear Tree does it differently. We headhunt highly skilled talent from the Philippines and South Africa with full transparency on where every dollar goes, so your team is paid fairly and fully focused on your business. As a Day One listener, you'll receive a free team audit to identify where offshore talent could move the needle in your business, plus 20% off your first hire.This podcast uses the following third-party services for analysis: Podtrac - https://analytics.podtrac.com/privacy-policy-gdrpSpotify Ad Analytics - https://www.spotify.com/us/legal/ad-analytics-privacy-policy/

Joe Polish sits down with Strategic Coach Founder Dan Sullivan and The CEO of CEG Worldwide John Bowen to explore the research-backed framework behind their new book, The Greater Game — a 100x blueprint that reveals why only 5.4% of Entrepreneurs are playing a completely different game than everyone else. Together they unpack the shift from Founder-dependent businesses to scalable ecosystems, the finite-vs-infinite game divide, and why AI is less a technological revolution and more a cognitive one. Here's a glance at what you'll discover in this episode: The number that reveals whether you're winning or losing the only game that matters... and why 94.6% of Entrepreneurs are optimizing a game that's already coming to an end (you've probably already done 10x without calling it that — what you do next is the whole point) Dan Sullivan's quiet observation after 52 years and 7,000+ Entrepreneurs... the exact moment a successful person stops growing isn't failure — it's something far more seductive, and almost no one catches it in themselves (the first exercise he runs at Strategic Coach is designed to show you you've already crossed the line once) Joe typed a question into AI and got back the most brutal case study in modern business history... Blockbuster, Kodak, Borders, Toys "R" Us — and the one invisible shift every company on that list missed before it was too late (this isn't a technology story — it's a thinking story) Why John Bowen started three new companies on his 70th birthday... and the dashboard he and Dan built for roughly $2,000 that a top vendor quoted them $50,000 a year to provide (his tech team called after the first meeting and said "we'll just build it and give it to you tomorrow") The four-hour version of something that used to take Dan Sullivan four weeks... and what it reveals about the only AI upgrade that actually changes your trajectory (this isn't about using AI more — it's about using it in the right direction entirely) What Joe Polish teaches Genius Youth Members that no business school has ever covered... and why writing handwritten postcards in an age of AI might be the single highest-leverage thing you do this week (the killer app of 2026 is not what anyone is selling you) If you'd like to join world-renowned Entrepreneurs at the next Genius Network Event or want to learn more about Genius Network, go to www.GeniusNetwork.com. Show Notes: The Book: The Greater Game and the 5.4% Dan and John's new book — published by Hay House and instantly a #1 Amazon bestseller — grew out of a 25-year research partnership to study what separates the highest-performing Entrepreneurs from everyone else. Their research across 7,000+ Entrepreneurs found that 94.6% are still optimizing the game they're in — while only 5.4% are architecting a completely different one. The book maps out exactly what those 5.4% are doing. The book's central premise: "Every system that got you here is optimized for a game that's coming to an end." From 10x to 100x: Dan's Framework Dan has been coaching Entrepreneurs to 10x since the 1990s — starting with an exercise where he had Clients identify when they were one-tenth of where they are today. Everyone in his program had already done 10x without labeling it that way. When he challenged a Client who said they couldn't go 10x in three years, the Client responded they could do it in 15 — and then voluntarily suggested doing it again. That's when the 100x idea crystallized. Dan's thesis: give yourself a long enough time horizon, use AI as a genuine collaborator, and constant growth becomes the natural state — not the exception. The Four Levels of The Greater Game Level 1 — Foundation for Freedom: Vision, security, and financial confidence. Getting off the couch. Level 2 — Energy for Expansion: Motivation and IP development. Dan has built an extraordinary amount of intellectual property; John and Joe have too. Level 3 — Platform / Ecosystem: Moving from Founder-dependent to a scalable system. John's own company grew 58% while writing the book — by walking the talk of this level. Level 4 — Agency: Creating markets. Courage, commitment, and building an ecosystem where you're generating the category itself. Finite vs. Infinite: What the Game Shift Really Means Finite game: competing for market share, managing dependencies, staying indispensable personally, reacting to market pressure. Business value: 3–5x EBITDA. Infinite game: designing an ecosystem, multiplying unique genius through others, engineering your own absence, redefining the market. Business value: multiples that reflect systems, not the Founder. Joe's examples (finite → infinite): Blockbuster → Netflix, Kodak → Apple, Borders → Amazon, taxi companies → Uber, Toys "R" Us → Lego. The pattern: finite players optimize the current game; infinite players keep changing what the game is. Dan's real-world example: Paul Van Dyne came to Strategic Coach planning to retire at 65. He went on to take his engineering firm from #40 to #1 nationally in nine years through M&A — and now plans to build his gourmet coffee shop inside one of his medical centers. AI as a Cognitive Revolution Dan's framing: AI isn't a technological revolution — it's a cognitive revolution. He compares its impact to the introduction of zero in mathematics, which made economics, double-entry bookkeeping, and science possible. Practical example: Dan used to need four weeks to structure a new book. With AI, the same work takes four hours. He now writes a new book every quarter. John's vibe-coding story: his Team built the entire Greater Game Dashboard for roughly $2,000–3,000 using Lovable — after being quoted $50,000/year from a top vendor. They own the code and iterate freely. Joe's counterpoint: the killer app today is being fully human — knowing how to bond, connect, and think for yourself. "Write with your hands, think with your brain."  The Greater Game Dashboard John built this free interactive tool at TheGreaterGameDashboard.com to put the book's framework into action. The 15-minute assessment shows you exactly where you stand relative to peers and the 10 Greater Multipliers. The dashboard automatically calculates what your company is worth to a buyer today — and shows how each improvement raises that number. Dan calls it the greatest tool he's seen in 52 years of coaching Entrepreneurs. Monthly updates include an Entrepreneur Pulse confidence index. Useful whether you ever intend to sell or not — knowing your number changes how you invest in your business. Building Great Teams: Cast, Don't Hire Dan's principle: Strategic Coach treats itself as a theater company — with backstage and front-stage roles. They don't hire for jobs, they cast for roles. Every new hire is there to free up someone already in the company. Babs Smith built the Strategic Coach Team around Dan from the start — several Team members have now been with the company 20–30+ years. Beware the Founder-as-salesperson trap: if you're great at selling, you'll hire the wrong people — you'll confuse their excitement for the role with fit for the role. John, Joe, and Dan all find talent primarily through communities — mastermind groups, Genius Network, Strategic Coach — rather than ads. Great people seek out great people. Dan's upcoming book (Hay House): Casting Not Hiring. IP as a Strategic Asset Dan has had 82 thinking tools patented by the US Patent Bureau (none rejected), with 75 more pending. Each patent is a borrowable asset — you can borrow up to half the appraised value, creating a private intellectual property bank. Joe Polish's company operates as an ESOP — all Team members become equity owners after a vesting period, creating a true ownership culture without requiring employees to buy in upfront. Genius Youth and the Human Connection Advantage Joe's Genius Youth program focuses on skills AI can't replicate: human connection, handwritten notes, cold plunges, cooking and hospitality, ethical influence. Joe's 2026 Genius Network Annual Event —  features Peter Diamandis and Steven Kotler (Authors of We Are as Gods), live robots, and a mystery musician on 300M+ albums. Resources: The Greater Game (Book) — Dan Sullivan & John Bowen The Greater Game (Audiobook) — narrated by Gord Vickman, Hay House Business TheGreaterGameDashboard.com — free 15-minute assessment & company valuation tool 10xTalk Podcast — Subscribe — 10xTalk.com 10xTalk on Apple Podcasts Strategic Coach — Dan Sullivan's coaching program Genius Network — Joe Polish's community for elite Entrepreneurs Joe Polish's Genius Network Annual Event CEG Worldwide (John Bowen) — research and coaching for financial advisors Cleator Ghost Town, Arizona — Joe's 40-acre ghost town & the Cleator Bar and Yacht Club Inside Strategic Coach Podcast — Episode on Hiring — Dan Sullivan & Shannon Waller AI Killed the Modern Company (Video) — Peter Diamandis & Salim Ismail Why Microsoft AI Chief Predicts AI Automation of White-Collar Work in 18 Months — Fortune / Mustafa Suleyman

In this Journey to an ESOP and Beyond podcast episode, Jason and Makenzie continue the Foundations of Transition series by exploring the sixth foundation: capacity building. Framed through the lens of leadership transfer, this conversation examines why a business is only truly transferable when leadership, decision-making, and organizational judgment can transfer as well. As owners prepare for succession, an ESOP transaction, or any future transition, developing leadership depth becomes a critical part of preserving and growing enterprise value. Throughout this episode, Jason and Makenzie introduce the concept of “leadership debt,” describing how organizations accumulate risk when founders and owners remain the primary source of decisions, relationships, and problem-solving. They discuss the importance of transferring not only tasks, but also the context, authority, and judgment behind those tasks. Through practical examples and actionable takeaways, listeners are encouraged to identify opportunities to build leadership capacity, strengthen management depth, and create a company that can continue to thrive beyond the daily presence of its founder.

In this episode, Bard MBA student Jake Rosenzweig-Stein interviews Bill Fotsch, business consultant and researcher, about economic engagement and its role in building more equitable, resilient businesses. Bill introduces his five-pillar framework, grounded in 30 years of research, and explains how treating employees as true partners drives double the profit growth of traditional management approaches. The conversation covers how economic engagement supports ESOP conversions, succession planning, and local economic resilience.

In this podcast episode, Jason and Makenzie interview Art Smith, President of DB Engineering, about the company's transition to 100% employee ownership. The conversation explores the decision-making process between a strategic sale, management buyout, and ESOP, along with the challenges of leadership transition, communication, and building an employee-owned culture. Drawing from firsthand experience, Art shares valuable insights and lessons learned throughout the ESOP transition process, offering an honest look at the complexities, challenges, and rewards of navigating ownership transition in a growing professional services business.

In this episode of the Sargent: On Track Podcast, President & CEO Eric Ritchie is joined by Vice President of Finance and CFO Tasha Gardner in the Flywheel Studio to kick off a new series answering questions submitted during the all-employee meetings. Tasha breaks down vesting and what it means to be a true employee-owner, walks through how shares get allocated between hourly and salaried employees, and explains how internship years factor into vesting. The conversation also digs into retirement planning, tax implications of the ESOP and 401k, and the difference between Roth and traditional contributions at different stages of a career. Eric and Tasha close with a reminder that knowing the ESOP inside and out is part of being an employee owner, and that it takes all 600-plus employee-owners to keep the culture going.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 of Journey to an ESOP and Beyond podcast,  Jason  and Mackenzie discuss the full lifecycle of an ESOP company. The conversation covers what changes in the first 90 days after an ESOP transaction, including new debt obligations, administrative responsibilities, and the importance of employee communication and engagement. The podcast also discusses how boards and leadership teams evolve over time, why committee structure matters, and how companies can successfully navigate the growing complexities of mature ESOPs. From early-stage growing pains to long-term planning challenges like diversification, repurchase obligation, and balancing opportunities between long-tenured employees and newer participants, this episode provides a practical and candid look at what it truly means to operate as an ESOP company for the long haul.

In this episode of the On Track Podcast, VP of HR Amanda Martin is joined by Superintendent Keith Edgecomb, Controller Casey Flynn, Project Manager Ryan Cullen, Project Executive Kody Vining, HR Manager Claire Ryder, Foreman Alex Castedio, Foreman Kyle Salley, Project Executive Seth Watts, WellBuilt facilitator Matt Verderamo, and Laura Pfeiffenberger and Chris Whitney from Spinnaker Trust in the Flywheel Studio on graduation day of the Sargent Leadership Academy. The group walks through what the program actually looks like, from DISC profiles and emotional intelligence to planning for hard conversations, learning the inside workings of finance, HR, estimating, and workforce advancement, and getting an outside look at corporate governance and the ESOP. Participants share how the academy shifted the way they think about leadership, why role-playing turned out to be more useful than they expected, and how a class of employee-owners from different departments and regions grew tight-knit along the way.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

Scott Bryan started Bryan Construction in 1995 with five people, a spare bedroom, and everything on the line. Today, Bryan Construction has grown into one of Colorado's most respected construction companies, with projects spanning commercial work, federal contracts, defense related facilities, international projects, and major developments across Colorado Springs and beyond.In this episode of the Colorado Business Podcast, Scott Bryan shares the story behind building Bryan Construction, growing through the challenges of the construction industry, choosing the right people, expanding into federal and international work, and eventually creating an employee owned company through an ESOP.Scott also talks about what it really takes to build a lasting company, why culture matters more than most people realize, how construction has changed over the last 30 years, and why starting a construction company today would be much harder than it was in the 1990s.This conversation is packed with lessons on entrepreneurship, leadership, hiring, company culture, risk, succession planning, and building a business that can outlast its founder.Chapters: 0:00 Intro 0:56 Growing up in Colorado Springs 3:50 From subcontractor to general contractor 4:36 Starting Bryan Construction in 1995 6:18 The people behind the company culture 8:15 Building vision and bonding capacity 11:43 Picking the right people 13:40 Expanding into international projects 18:45 Federal work and global construction 19:18 Building a diverse construction company 22:40 Space Command, defense work, and Colorado Springs growth 23:40 Why Scott stayed in Colorado Springs 25:36 How construction has changed over 30 years 29:41 Could he start over today? 31:45 Family, risk, and entrepreneurship 35:25 Marriage, support, and work life balance 37:35 Why Scott still loves the work 39:34 AI and the future of construction 42:59 Why Bryan Construction became employee owned 46:53 Legacy and succession 49:41 Scott's favorite project 57:29 Advice for young entrepreneurs 1:00:35 Final thoughtsGuest: Scott Bryan, Founder of Bryan ConstructionPodcast: Colorado Business PodcastSubscribe for more conversations with Colorado entrepreneurs, founders, builders, and business leaders shaping the future of Colorado.

Most founders can't tell you the moment they decided to build. Vedang Patel can. He was 23, a finance analyst with IIM seats in hand, and he looked at the MBA-holder sitting next to him in office and asked himself one question: "Is that what I want to do?"The resounding no from every section of his brain, and the ₹5.25 lakh he and his co-founders had between them is what became The Souled Store. ₹1000 crore in revenue, ₹150–200 crore in profit, an NSE bell on the way.In this episode, Avnish and Vedang sit with three questions sent in by aspiring founders:1. How do you actually validate an idea?2. How do you separate polite encouragement from real market demand?Brand or revenue first?3. They also talk about the part most founders won't: the $10 million Vedang got "lost in frameworks" with, the 15-20 CR in personal-guarantee debt, and how exponential's cheque pulled him back.Chapters 00:00 Cold open01:30 From a cupboard of t-shirts to ₹1000 crore03:30 The Sunday-Monday test06:30 "She cried for days"08:30 Risk vs Recklessness11:00 Q: How do I validate my idea?13:30 ₹5.25 lakh, no money for movies15:30 Discounted PMF is false PMF17:00 Q: Polite encouragement or real demand?20:30 The empty chair of the customer24:30 When the $10 million came in27:30 "Maybe I should be inspired by Neera Modi"30:30 Q: Brand or revenue first?32:00 A brand is what the customer expects35:30 Why he never left Bombay38:30 The ESOP wall and the 5-10-85 rule41:30 "Don't overthink. Start."Follow Z47Website - https://www.z47.com/Instagram -   / z47.vc  LinkedIn -   / z47-vc

Amanda DeVito is a seasoned marketing executive and thought leader who serves as the Chief Marketing Officer (CMO) at Butler/Till, a prominent results-driven, women-owned, and employee-owned (ESOP) marketing agency. With over 25 years of industry experience, DeVito has spent the last 15 years as a pillar of Butler/Till's leadership team, guiding the agency's business development, innovation, and strategic growth. Holistic Marketing Strategy: DeVito is a strong proponent of collapsing traditional media silos (like separating TV, CTV, and digital video) in favor of an "outcomes-first" approach that prioritizes overarching business objectives over specific channels. Vertical Experience: She has deep expertise across a broad range of highly regulated and complex industries, including healthcare, pharmaceuticals, financial services, automotive, and retail. Advocate for DEIB & Culture: At Butler/Till, DeVito heavily champions Diversity, Equity, Inclusion, and Belonging (DEIB). She frequently speaks on the distinction between mere "empowerment" and providing actual "access" to leadership roles for underrepresented groups, viewing emotional intelligence and authenticity as non-negotiable leadership traits. Employee Ownership: She is an active advocate for the positive corporate culture and accountability that comes with employee-owned business models. DeVito is a frequent speaker at major industry events, including Cannes, Adweek NY, and the DTC Xpectives Health Summit. Beyond her agency role, she extends her leadership to several advisory boards and community organizations: Advisory Board Member for Ownership America Board of Directors for the Western New York Chapter of Planned Parenthood Member of Chief, a private network dedicated to connecting and supporting women executive leaders. DeVito graduated Magna Cum Laude with a bachelor's degree in Communications and Journalism from St. John Fisher University. She also holds an Executive MBA from the Saunders College of Business at the Rochester Institute of Technology, where she was awarded the peer-nominated Donna Scheid Leadership Award.

In this episode of Journey to an ESOP and Beyond, Makenzie breaks down the negotiation process behind an ESOP transaction. From purchase price and seller note terms to governance, SARs, board composition, and fiduciary requirements, this episode explores the key terms that are typically negotiated between the seller and the ESOP trustee. If you're considering an ESOP or preparing for a transaction, this episode offers a practical overview of what to expect during negotiations and how the process compares to a traditional M&A deal.

In this episode of the On Track Podcast, President & CEO Eric Ritchie is joined by CFO Tasha Gardner and VP of Human Resources Amanda Martin in the Flywheel Studio to break down ESOP distributions during Sargent ESOP Month. The team walks through the four main distribution groups, in-service employees, terminated participants, retirees, and beneficiaries in cases of death or disability, and explains the rules tied to each one, including statutory diversification at age 55 with 10 years in the plan, lump sum options at age 61, and the differences for employees hired before and after January 1, 2023. They also cover the upcoming election window running from May 26th through June 26th, the importance of keeping beneficiaries up to date, what happens when retirees come back to work, and why calling a tax professional and the team here at Sargent matters before making any decisions. Eric, Tasha, and Amanda also share a good reminder from Herb that everyone should retire with a surplus of dignity, and that the share price keeps climbing because of the hard work every employee owner puts in day in and day out. Give it a listen and save it for later, this one is worth keeping on the shelf.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

When Kate Morgan started thinking seriously about selling her business, she assumed the big payoff would come at closing. But as she tells David C. Barnett and Paul Downs this week, she's come to understand that the smarter move might be not selling—at least not yet. Why? Because if the business keeps performing and she can gradually remove herself from the day-to-day operations, she may ultimately make more money by continuing to own it. That's partly because, as David explains, small businesses often sell for lower multiples than owners expect. Which means the real value may not be in a clean exit, but in continuing to collect profits while slowly transitioning ownership to key employees. “So you'll be selling the business,” says David, “and you'll be collecting dividends or distributions on top of that. This is one of the most lucrative exits there can be.”Of course, delaying a sale comes with its own risks. Markets change. Businesses cool off. Buyers get nervous. “You have to make the decision and make the sale happen while you've got a full head of steam,” David warns. Wait too long, and the numbers can start sliding in ways that dramatically reduce what buyers are willing to pay.Plus: A Reddit post raises a brutal management challenge: What's the best way to lay off a relative? “It really can't affect your decision,” says Paul. “Because if it needs to be done, it needs to be done.” That doesn't make it easier. It just means you may have to live with both the business consequences and the family consequences at the same time.

In this episode of the Journey to an ESOP podcast, Jason and Makenzie interview brothers Marc and John Farrell of to discuss their company's transition to employee ownership and the multi-generational legacy behind it. The Farrell brothers share the history of their 80-year family business, why they chose an ESOP over other transition options, and what they've learned in the early stages of becoming employee owned. From succession planning and leadership transitions to culture and communication, this conversation offers practical insight for business owners thinking intentionally about the future of their company. 

In this episode of the On Track Podcast, President & CEO Eric Ritchie is joined by Mid-Atlantic Business Development Manager Mike Mullins and Brinkman Constructors Senior Vice President of Corporate Operations and Regional Offices Ted Hoog in the Flywheel Studio for a conversation about employee-ownership, company culture, and what it takes to carry a strong construction company forward. Ted shares Brinkman's ESOP journey, how founder Bob Brinkman used employee-ownership as a way to protect the company's legacy, and how the company has grown while working to keep its core values intact across multiple regions.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

Send us Fan MailIn this episode: Christi Powell and Angela Gardner interview Natasha Sexton, president and CEO of Sexton Design and Development, an eight-and-a-half-year-old design-build firm based in Greenville, SC. Sexton explains the company's landscape-architecture roots, multi-state work (SC, TN, pursuing NC licensure, with GA next), and focus on hospitality, university, and commercial/institutional projects, including Clemson University's Tiger Walk design. She discusses Southeast market challenges—rapid growth driving labor shortages and material cost volatility—and how value engineering and alternative materials keep projects on track. Sexton shares scaling and quality strategies centered on choosing aligned clients and the “photo, friend, fee” philosophy, plus team culture priorities like leading by example, paying above average, benefits, open dialogue, and burnout awareness, with interest in an employee-ownership/ESOP-style future. She highlights community projects with Upstate Warrior Solution and Camp Greenville, board involvement with the Greenville County Art Museum, and emphasizes surrounding yourself with supportive people.Support the show

In today's Tech3 from Moneycontrol, venture capital flows into premium consumer brands as mass demand stays uneven. Startup ESOP payouts grow larger, driven by secondary deals and IPO prep. Tamil Nadu's election outcome puts jobs, MSMEs and fiscal priorities in focus, while West Bengal's structural challenges remain under watch. And Citi appoints Raj Rathi to lead M&A in India.

We weren't aware of ESOPs before this conversation, and chances are you haven't heard of them either. Employee Stock Ownership Plans can drastically change how you run your business and transform the lives of your employees. Publix is one of the best examples of making their employees' lives better. Cashiers who may never make more than $20 an hour but stay there 20-30 years retire as multimillionaires because of employee ownership. Matt Middendorp helps business owners understand this transition option that most have never heard of. He started working at an ESOP company in college without knowing what it meant, but recognized the culture felt completely different from corporate retail. People collaborated and took ownership of problems instead of waiting for someone else to solve them. Matt Middendorp helps business owners explore this transition option. He started working at an ESOP company in college without knowing what it meant, but recognized the culture felt completely different from corporate retail. People collaborated and took ownership of problems instead of waiting for someone else to solve them. We talk about how ESOPs work, why they offer better tax benefits than other transitions, what makes a business a good fit, and how this approach solves problems for both owners looking to exit and employees building toward retirement.HighlightsHow employee ownership changes company culture when people take ownership of problems instead of waiting for others to solve them.Why ESOP companies grow faster than non-ESOP companies once employees have real financial stakes in success.The tax advantages that make ESOPs attractive for both sellers and companies compared to other transition options.What makes ESOP transactions collaborative instead of the combative due diligence process with private equity or strategic buyers.How long-term employees build wealth that solves the retirement gap many Americans face.Make sure to subscribe to Blue Collar BS where we talk about the real gaps between generations in blue collar work and what it takes to lead across different age groups in today's trades. Be the first to hear conversations like this that introduce options you didn't know existed and challenge what you thought was possible in business.Get in touch with Matt: WebsiteLinkedInPhone - 715-897-0879Get in touch with us:Check out the Blue Collar BS website.Steve Doyle:WebsiteLinkedInEmailBrad Herda:WebsiteLinkedInEmailThis podcast uses the following third-party services for analysis: Podtrac - https://analytics.podtrac.com/privacy-policy-gdrpOP3 - https://op3.dev/privacy

In this Journey to an ESOP podcast episode, Jason and Makenzie continue the Foundations of Transition series, focusing on the theme of turning strategy into execution, exploring how these elements play a critical role in preparing for a successful ESOP transaction. 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 encourages owners to look beyond strategy alone and consider how effectively their plans are being carried out. Jason and Makenzie introduce the concept of “mini” strategic planning: breaking down not just what needs to be done, but how to implement it and how often to revisit progress. Through practical insights, they highlight why building strong accountability and execution habits early can reduce friction during a transaction and better equip your team for the work ahead. 

Solo episode energy with Angel filling in for Mike, and somehow it works. The conversation hits the bar's origin story, AI etiquette, a feminist chatbot breakup, and whether the Great Salt Lake needs a billion dollars or just a rain dance. The back half gets surprisingly substantive: corporate greed as a design feature, why the immigration system backlog is a feature not a bug, ESOP as an exit strategy, and the argument that Trump tribalized America more than anyone since the Civil War. Also: somebody put new stickers in the urinal and Jesse's excited about it.​​​​​​​​​​​​​​​​

In this episode of the On Track Podcast, we catch up with employee-owners at Sargent's Northern Maine and Southern Maine all-employee meetings to hear what keeps them moving, what they're taking into the busy season, and what it means to be part of Sargent during its 100th year. From newer team members finding their place, to long-time employee-owners reflecting on safety, career growth, and the value of getting everyone together, the conversations give a good look at the people behind the work. The episode also kicks off Sargent ESOP Month with CFO & VP Finance Tasha Gardner and CEO & President Eric Ritchie joining in for the Price-Is-Right and a quick lesson on how the ESOP works, with a reminder that employee ownership is built through the work everyone does each day.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

Why would a successful CEO choose an ESOP over private equity? In this episode of Driven by DCKAP, JD Ewing — CEO of COE Distributing — shares why he chose an employee ownership model over a private equity exit, and what that decision means for the future of his business and profitability.But the ESOP decision is only part of the story. JD took over his family's wholesale distribution business at 19 years old with just $225,000 in revenue, built it into a multimillion dollar company, sold it — and then watched the acquiring company go bankrupt. So he started over from scratch, this time alongside his wife Melanie. Today, COE Distributing stands as one of the most profitable independent office furniture distributors in the US — built twice, and better for it.

In this episode, Jason Miller speaks with Steve Baker of The Great Game of Business about the critical role of financial literacy in building successful employee ownership and ESOP cultures. They explore why ownership alone does not automatically create an ownership mindset and why education is essential for helping employees understand how businesses actually work. Steve shares practical insights on how organizations can strengthen engagement, accountability, and performance by teaching teams to think and act like owners through a deeper understanding of financials and business performance. The conversation highlights a key takeaway for ESOP companies and leadership teams: financial literacy is the foundation that connects employee ownership to real behavioral change and long-term business success.

The term ‘Hitopadesha' is a combination of two Sanskrit terms, ‘Hita' (welfare/ benefit) and ‘Upadesha' (counsel). As the term suggests, The Hitopadesha is a collection of tales that gives good counsel.Hitopadesa was presumably written by Narayan Pandit and is an independent treatment of the Vishnu Sarman's Panchatantra (3rd century BC) which it resembles in form. In Hitopadesha, Vishnu Sarman is depicted as a Sage who undertakes to give good counsel to the sons of Sudarsana, the king of Pataliputra, through stories within stories involving talking animals. The dating of Hitopadesha is problematic as no other work by Narayan Pandit is known. The earliest manuscript of Hitopadesha dates from 1373; it could be of East Indian origin during the Pala Empire (8th-12th centuries).This book is a condensed but faithful transcript of Hitopadesha in sense and manner rendered in English by Sir Edwin Arnold. Sir Edwin says in the Preface that the Hitopadesa may be styled 'The father of all Fables'; for "from its numerous translations come Esop and Piplay and in latter days, 'Reineke Fuchs'." Summary by JothiGenre(s): Myths, Legends & Fairy Tales, AncientLanguage: EnglishKeyword(s): philosophy (997)

Chris Prenovost always wanted to be a business owner, but as he grew his company AZPRO, he realized he needed to get clear about his deeper values and motivations. In this episode, Chris shares his story of building a graphics company from the ground up with his brother, learning to delegate, and developing a team of values-aligned leaders. He also shares about his experience transitioning the company into an ESOP and discusses the importance of knowing your purpose. Information isn't the gap between failure and success—action is. Path for Growth's 1-on-1 coaching helps you create a plan and execute on what matters most for your business. Apply today at pathforgrowth.com/coaching.Episode Recap:How did you get involved in the graphics industry and decide to start AZPRO?  What motivated you in the early days of the business?  When does being scrappy go too far when trying to scale a business? What were your biggest blockers to learning to delegate well? How did you get your team aligned around core values?  What's your process for identifying new leaders?  How has your motivation changed as you've grown the business? Can you tell us about the process of becoming an ESOP? Get aligned on your purpose and you'll be amazed what happens next If you're ready to move beyond just gathering information and start executing on what truly matters, Path for Growth's 1-on-1 coaching can help. Apply now at pathforgrowth.com/coaching.Resources:Follow the podcast on Apple or SpotifySchedule a call to learn more about Path for Growth Coaching and CommunityDownload the Free Reading GuideConnect with our Founder Alex Judd on LinkedIn and Instagram

In recognition of April as Financial Literacy Month, this episode explores an important question: what happens when employees are given ownership but don't fully understand its value? Jason and Makenzie dive into the critical role financial literacy plays in helping employee-owners make the most of their ownership stake. From understanding equity to building confidence in financial decision-making, this conversation highlights how empowering employees with knowledge can unlock the full potential of employee ownership.

For many family business owners, the succession question is more complicated than it looks — especially when some family members want to stay involved, others don't, or there's simply no heir apparent willing or able to take the reins. An Employee Stock Ownership Plan can bring remarkable clarity to exactly these situations. Kelly O. Finnell, J.D., CLU, AIF®, President of EFS ESOP Consultants and one of the nation's foremost ESOP authorities, joins Pat, Walter, and Corby to explore how ESOPs can serve as a powerful and often underutilized tool in family business succession planning. With more than 40 years helping business owners design and execute ESOPs — and author of the preeminent guide The ESOP Coach: Using ESOPs in Ownership Succession Planning — Kelly brings unmatched depth to this conversation. He covers the general parameters for when an ESOP makes sense, the specific benefits in a family business context, how ESOPs can minimize taxes while maximizing shareholder legacy, and why owners with no clear successor should be looking hard at this option.Conversations that move you closer to a regret-proof exit. Subscribe To The Channel By Clicking HERE!Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blogFacebook: https://www.facebook.com/exitreadinessWebsite: Ennislp.com#PatEnnis #WalterDeyhle #ExitReadinessDISCLAIMER: The information in this presentation is provided as education only. Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

What does it take to grow a construction company from $27M to over $1.5 billion — without losing your culture along the way? In this episode, Scott Winstead sits down with Tim Paulson, Co-CEO of ESS Companies, to unpack the philosophy, decisions, and hard lessons behind one of the industry's most remarkable growth stories.Tim shares how becoming an ESOP in 1999 unleashed an ownership mentality across the organization, his "3D diversification" framework for sustainable growth, and why ESS invests 70% of its marketing budget internally — on its own people. He also gets candid about the growing pains of tripling in size through three simultaneous acquisitions in 2019, and what he'd tell his 30-year-old self about staying through the hard seasons.If you're thinking about culture at scale, leadership development, or what it really means to build a company where people have a genuine stake in the outcome, this conversation is for you.

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What's the right first question when an owner starts exploring an ESOP? It may not be “Can my company do one?” In this episode, we unpack why technical possibility and strategic fit are not the same thing. Using the metaphor of the kitchen in a family home, we explore what owners are really trying to preserve, strengthen, and pass on through transition — and why an ESOP works best when it supports the fundamentals rather than distracting from them. A thoughtful conversation for owners considering employee ownership, succession, continuity, and legacy.

In this episode of The Matt Feret Show, Matt Feret sits down with ESOP consultant Matt Middendorp to explore how employee ownership is reshaping the way people think about work, wealth, and career fulfillment—especially in midlife. Moving beyond traditional conversations about retirement or business exits, the discussion examines Employee Stock Ownership Plans (ESOPs) as an alternative model that aligns employee success with company performance. Middendorp shares real-world insights into how employee-owned companies foster stronger cultures, higher retention, and long-term financial security while offering business owners a legacy-driven transition strategy outside of private equity or layoffs. Together, they unpack why so many professionals have never heard of ESOPs, what employee ownership teaches us about purpose and identity at work, and how individuals at any career stage can rethink success, stability, and the value they help create.The Matt Feret Show is about thriving in midlife, retirement, and beyond. Each week, Matt shares smart conversations on Medicare, Social Security, retirement planning, health, wealth, wellness, caregiving, and life after 50.Explore more episodes and sign up for The Matt Feret Newsletter: TheMattFeretShow.comNeed Medicare help? Book a no-obligation consultation: BrickhouseAgency.comWatch full episodes on YouTube: The Matt Feret ShowSubscribe on Apple, Spotify, or YouTube for more insights on wealth, wisdom, and wellness in retirement. Hosted on Acast. See acast.com/privacy for more information.

What happens when a company that is already employee-owned realizes its ownership model is not built for the next chapter? In this episode, host Colleen O'Connell-Campbell sits down with Michael (Mike) Fotheringham, CEO of Taproot, and Robert MacDougall, Board Trustee. Taproot is a 42-year-old national social enterprise with 775 employees and over $65 million in annual revenue. They unpack how and why the organization became Canada's largest Employee Ownership Trust (EOT). Taproot's journey runs from its founding by a laid-off public servant in British Columbia, through a management buyout that created an ESOP with seven shareholders, to the realization that the next succession needed a cleaner, broader, and more scalable structure. Mike and Robert walk through the real story: how a LinkedIn podcast discovery sparked the conversation, why the EOT legislation provided a template that other structures could not, what governance looks like four months into the new model, and why transparency with employees started years before the transaction - not after. Key Takeaways:   Taproot was founded 42 years ago by Bill Stelmachek, a former British Columbia public servant, and operates in two domains: children and youth services (including group homes) and direct support for adults with diverse abilities, across BC, Alberta, and Northern Ontario.   When Bill decided to exit 18 years ago, he had interest from U.S. private equity and real estate buyers, but chose to sell to employees. Seven employees purchased the company and paid him out over several years, forming an ESOP. That ownership group grew to 30 shareholders over time.   The succession challenge resurfaced as major shareholders began approaching retirement. The board explored multiple options - another management buyout, private equity, gifting share certificates to all employees, trust company arrangements, and buy-co structures - but each had significant drawbacks, particularly the administrative burden of managing shares across nearly 800 employees.   The EOT conversation began when Mike heard a podcast from Social Capital Partners about the employee ownership trust model, shared it with the board, and connected with Tiara LeTourneau at Rewrite Capital Advisors. A feasibility study confirmed Taproot was a strong fit, and the board green-lit the transaction in January 2025.   The EOT's capital gains tax exemption was not the primary driver of the transaction, but became a strong motivator during the process and contributed to 100% of shares being transferred into the trust. The more fundamental appeal was that the EOT legislation provided a clear template - parameters, structure, and guidance - that other models lacked.   Governance under the new EOT structure includes three employee trustees (staggered three-year terms, elected by employees), an independent board of directors (confirmed by the trustees), and the management team. These three groups are now more distinct than the previous model, where senior management, majority owners, and the board overlapped heavily.   Day-to-day operations have not changed dramatically. Taproot had already been practicing quarterly all-staff financial updates for two years before the transaction - a transparency habit that made the cultural transition smoother. Employees are now waiting for the first year-end to see what dividend distribution looks like.   The design and governance work began before the transaction closed, with joint sessions between trustees-to-be, the incoming board, and management to establish how the groups would work together. Four months in, the structure is still being refined - but the right mix of continuity and new perspective is in place.   Rewrite Capital Advisors guided the feasibility study, due diligence, and transaction design. Previous Cash Rich Exit Podcast episodes with Rewrite Capital and Firefly Insights cover the technical structure of EOTs in more detail.   Taproot's story shows that selling your company does not have to mean selling out your values. A thoughtful process - including governance at the board level - can create both liquidity and long-term stewardship. If today's episode sparked questions about your own transition, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell. Reach out on LinkedIn or email.  

In this episode of the Foundations of Transition series, Jason and Makenzie focus on the theme of Communication, Culture & Trust, exploring how these elements shape the success of an ESOP transaction. 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 encourages owners to consider not just the structure of a transition, but the human side of the process. Jason and Makenzie discuss why clear communication, a healthy company culture, and strong trust between leadership and employees are essential to building momentum and confidence throughout an ESOP journey. Through practical insights, they unpack how intentional communication and cultural alignment can reduce uncertainty and help create a smoother, more successful transition for everyone involved.

If you're a contractor or shop owner, you WILL exit your business one day. The question is, will you do it right? In this episode, Dominic Rubino sits down with Tim Vorhoff to break down how business owners in construction, cabinetry, and trades can plan their exit and avoid costly mistakes. Most owners are great at building businesses… But when it comes time to sell, they're negotiating against professionals. This episode helps level the playing field. What You'll Learn: - What a management buyout really looks like - How to choose the right exit path (sell, recap, ESOP, etc.) - Why "one buyer" is a dangerous position - How buyers actually make money - The 3 key steps in a management buyout - Why your management team determines your business value - The biggest mistakes owners make when selling Why This Matters If your business depends on you… it's worth less. If your team can run it without you… it's worth more. That's the difference between a stressful exit and a successful one. If this episode helped you:

Most owners focus on growing value but give far less attention to how that value will ultimately be taxed. The result is often a successful sale that delivers far less than expected. In this episode, tax attorney Ed Cotney joins Pat and Walter to walk through how thoughtful tax planning changes outcomes—not just at closing, but years in advance. This conversation brings clarity to where tax strategy should begin, how deal structure influences net proceeds, and why waiting too long limits your options. In this episode, we cover:Why tax planning is a pre-sale strategy, not a year-of-sale exerciseCommon structural mistakes that reduce after-tax proceedsHow different exit paths (sale, ESOP, transfer) impact tax outcomesWhat owners should be doing now to preserve flexibility laterGuest: Ed Cotney, Tax AttorneyConnect with guest: https://www.linkedin.com/in/edward-cotney-14552412/ Conversations that move you closer to a regret-proof exit. Subscribe To The Channel By Clicking HERE!Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blogFacebook: https://www.facebook.com/exitreadinessWebsite: Ennislp.com#PatEnnis #WalterDeyhle #ExitReadinessDISCLAIMER: The information in this presentation is provided as education only. Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

In this episode of Case Studies, Casey sits down with Lynn Perry, founder of Central Milling, for a deeply meaningful conversation on excellence, faith, and building a business that truly serves people.Lynn shares how a simple idea rooted in chemical-free farming evolved into a nine-figure organic flour business over four decades, but what stands out is not the scale, it's the intention behind it. From obsessing over product quality to creating flour tailored for world-class bakers, Lynn reveals how a commitment to craftsmanship turned a commodity into something extraordinary.The conversation takes a powerful turn as Lynn reflects on a life-changing experience with his daughter that reshaped his perspective on leadership, service, and purpose. That mindset ultimately influenced one of his proudest decisions, implementing an ESOP that created life changing wealth for employees across the company.This episode is for leaders and entrepreneurs on building with heart, leading with principle, and proving that true success comes from creating value far beyond yourself. Hosted on Acast. See acast.com/privacy for more information.

This week, Jason and Makenzie cover what could go wrong in an ESOP transaction. From concerns about overpaying for shares to the burden of debt service, unrealistic projections, and the momentum that can build during negotiations, this episode unpacks the risks that can make an ESOP feel “off track” and what causes those outcomes. Jason and Makenzie explore the difference between a deal that is truly broken and one that simply needs course correction, offering an honest look at the warning signs, human dynamics, and importance of sustainable structure.

In this episode of The Steward Chair, John Newland, CEO at JOMA Construction, shares his journey of transitioning from a small home-flipping operation to a 100% employee-owned firm, exploring how the Greek concept of eudaimonia drives meaningful, long-term success. We discuss the philosophy of "getting better before getting bigger," the rigorous process of empower every team member, the establishment of the ESOP, and how true legacy is built by elevating others to lead the organization forward. Key Takeaways The Power of Eudaimonia: Integrating a guiding principle of "human flourishing" and contentment into the daily operations and client interactions of a construction business. Democratizing Ownership: Why JOMA chose a 100% ESOP model to ensure all stakeholders benefit from the company's success without taking on individual financial risk. Leadership as Presence: Utilizing daily affirmations and personal poise to remain grounded and "fully present" within the inherent chaos of the business world. Resources Mentioned Visit https://jomaconstruction.com/ Follow John Newland on LinkedIn: https://www.linkedin.com/in/johnnewland/ Follow JOMA Construction on social media: Linkedin: linkedin.com/company/jomaconstruction Facebook: facebook.com/jomaconstruction YouTube: youtube.com/jomaconstruction Instagram: instagram.com/jomaconstruction Subscribe to JOMA’s mailing list at http://jomaconstruction.com/learn/jomail-archive Join the ConversationThe Steward Chair is about equipping and inspiring business leaders to build organizations that stand the test of time. If this episode resonated with you, share your biggest takeaway and tag us on LinkedIn: Chat With Leaders Media https://www.linkedin.com/company/chatwithleaders/ and End of the Line Productions https://www.linkedin.com/company/end-of-the-line-productions/. Elevate your podcast, company meeting, or industry event strategies to better engage stakeholders and drive meaningful growth! Visit ChatWithLeaders.com to learn more about how we can help.See omnystudio.com/listener for privacy information.

In this episode, Jason and Makenzie walk listeners through the step-by-step process of an ESOP transaction, breaking down what can often feel like a complex and overwhelming journey into a clear, approachable roadmap. They cover common questions business owners often ask at the start of the process, including: How do I know if my company is a good fit for an ESOP? and who should be involved? From evaluating readiness to understanding the key players involved, Jason and Makenzie share practical insights on who to engage first, what steps to expect, and how to navigate the early stages of exploring employee ownership with confidence.

"The day you start your business, you should know your exit strategy."  Host Laurie Barkman sits down with Amy Veltri, Co-Founder and CEO of NGE, an environmental and geotechnical engineering firm. Amy built the company with her brother nearly 20 years ago, and made the deliberate choice to transition to 100% employee ownership through an ESOP. Amy shares the personal journey of weighing a third-party sale, doing nothing, or choosing a path that protected the people who helped build the business.   Celebrating 6 Years of Succession Stories This episode is part of a special milestone—celebrating 6 years of the Succession Stories Podcast. Thank you for being part of this journey, where we explore the real stories, decisions, and strategies behind building, transitioning, and exiting businesses. This episode was filmed in front of a live studio audience in partnership with the Exit Planning Institute Pittsburgh Chapter, bringing the conversation to life with an engaged community of advisors and business owners.   Key Episode Insights Co-founding a business with a sibling requires clear operating agreements to protect both the relationship and the company Drive may be an innate entrepreneurial trait, but skills like communication and judgment can be learned Knowing your exit strategy from day one shapes how you build and grow your business An ESOP can be financially compelling — tax savings alone can nearly offset transaction costs Employees who become owners are motivated to grow company value for themselves and future colleagues Leadership succession planning requires intentionality — and starting the search early enough to find the right fit   CHAPTERS 00:00 Introduction and the Entrepreneurial Gene  02:00 Co-Founding NGE with Her Brother — and Making It Work  08:00 Scaling from $50K to $5M in Five Years  09:15 Challenges when scaling the business 11:30 The Three Exit Options for a Service-Based Business  14:00 Why a Near-Closing Third-Party Sale Changed Everything  15:30 Understanding ESOPs and the Feasibility Study Process  17:00 The ESOP Magic — Tax Benefits and Employee Engagement  21:00 Leadership Succession and the Search for Amy's Replacement  22:25 What's Next: Retiring, Grandbabies, and Letting Go     Is your business truly ready—and are you? Take the Succession Readiness Assessment to get a clear snapshot of where you stand and what to focus on next. https://btsherpa.com/succession   P.S. Most owners don't realize where they stand until they're already in a transition. Take a few minutes now to understand your readiness—and give yourself more options later.     Connect with Laurie Barkman:  Website: https://lauriebarkman.me LinkedIn: in/lauriebarkman YouTube: @LaurieBarkman_BTSherpa     Connect with Amy Veltri: Website: https://www.ngeconsulting.com  Email: aveltri@ngeconsulting.com

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

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

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.