Podcasts about esops

In this episode, Jason and Makenzie dive into the essentials of budgeting, forecasting, and planning for the year ahead. They break down what to focus on in preparation for the new year. The discussion explores the difference between budgeting and forecasting, how to interpret historical performance, and how to use your numbers to set purposeful goals that drive growth. This episode provides practical insight on how to plan effectively and set your company up for a strong, successful year.

Join us for a Partner Summit Special episode of The Exit Is Now podcast as Scott Snider welcomes Andrew Nikolai of CSG Partners to discuss the rising role of employee ownership in exit planning. Andrew explains why ESOPs are a powerful option for business owners, offering unique tax benefits, cultural continuity, and wealth-building opportunities for employees. He walks through the ideal company profile, outlines the three-stage process from education to transaction, and highlights why ESOPs are becoming a more mainstream choice in the era of the silver tsunami. This episode provides practical insights for advisors and owners alike on how employee ownership can align purpose, legacy, and liquidity.Want to learn more? Go to: https://linktr.ee/theexitplanninginstituteConnect with Scott: https://www.linkedin.com/in/scott-snider-epi/============================================SUBSCRIBE TO THE PODCAST:Apple Podcasts: https://podcasts.apple.com/us/podcast/exit-is-now-plan-accordingly-with-scott-snider/id1663050204Spotify: https://open.spotify.com/show/0iXzdvQN1ApWPOk3rVytFR============================================CONNECT WITH SCOTT ON SOCIAL MEDIA   YouTube: https://www.youtube.com/channel/UC_Eh7TfhJHKRa5uc5R0uRgAFacebook: https://www.facebook.com/Exit-Planning-Institute-608403729259835Website: https://exit-planning-institute.org#ExitPlanningInstitute #ScottSnider #Podcast============================================About Scott:Scott Snider is the President of the Exit Planning Institute (EPI) and the Operating Partner of Snider Premier Growth, a small family investment company.  At EPI, Scott is responsible for the strategic direction of the organization along with overseeing the company's operations and chapter development. Since joining EPI, Scott has expanded the organization regionally, nationally, and globally, providing a transformational educational experience to advisors from all specialties across the globe.Scott Snider is a nationally recognized industry leader, growth specialist, and lifetime entrepreneur.  Two of Snider's biggest talents: market penetration and rapid growth strategies. As the operational and strategic leader of EPI, Snider thrives on helping advisors learn how to educate clients, achieve market distinction, and deliver real results.

This week, Monika unpacks SEBI's recent caution to the public against dealing in digital gold. The regulator clarified that while SEBI oversees gold ETFs, commodity derivatives, and Electronic Gold Receipts — all backed by strict rules and physical verification — digital gold remains completely outside its supervision. That means investors have no legal protection if something goes wrong. Many platforms may not actually hold the gold they sell, exposing buyers to serious counterparty and fraud risks. Even though major brands like PayTM, Tanishq, and MMTC offer digital gold, these products are still unregulated.Monika explains how SEBI's framework ensures transparency and security for gold ETFs — from mandatory physical holdings and custodian oversight to regular audits and purity checks. In contrast, digital gold lacks such verification, leaving investors unsure if the gold even exists. While the ease of purchase and small-ticket investments make digital gold tempting, SEBI's warning is a timely reminder that convenience can come at a cost. Gold can still have a place in portfolios, but allocations should stay within 5–10%, and SEBI-regulated gold ETFs are the safer route for long-term investors.In listener questions, Anonymous seeks clarity on how to transition gradually from real estate and ESOPs into equity funds over the next decade, Vijay from Tamil Nadu asks how to begin crypto investing safely, and Padma, a retired investor, wants help streamlining her mutual fund portfolio and understanding the role of index and debt funds.Chapters:(00:00 – 00:00) Why You Should Not Buy Digital Gold(00:00 – 00:00) Planning a 9-Year Transition from Real Estate to Equity(00:00 – 00:00) Should You Invest in Cryptocurrency?(00:00 – 00:00) Building a Safe and Structured Investment Journey(00:00 – 00:00) How to Simplify Your Mutual Fund Choices in Retirementhttps://www.sebi.gov.in/media-and-notifications/press-releases/nov-2025/caution-to-public-regarding-dealing-in-digital-gold-_97676.htmlIf you have financial questions that you'd like answers for, please email us at ⁠mailme@monikahalan.com⁠ Monika's book on basic money management⁠⁠⁠https://www.monikahalan.com/lets-talk-money-english/⁠⁠⁠Monika's book on mutual funds⁠⁠https://www.monikahalan.com/lets-talk-mutual-funds/⁠⁠Monika's workbook on recording your financial life⁠⁠⁠https://www.monikahalan.com/lets-talk-legacy/⁠⁠⁠Calculators⁠⁠⁠https://investor.sebi.gov.in/calculators/index.html⁠⁠⁠You can find Monika on her social media @monikahalan. Twitter ⁠⁠⁠@MonikaHalan⁠⁠⁠Instagram ⁠⁠⁠@MonikaHalan⁠⁠⁠Facebook ⁠⁠⁠@MonikaHalan⁠⁠⁠LinkedIn ⁠⁠@MonikaHalan⁠⁠Production House: ⁠⁠www.inoutcreatives.com⁠⁠Production Assistant:⁠⁠ Anshika Gogoi⁠⁠

This week, in Episode 270, we dig into employee ownership with two people who've lived it: Kris Maynard and Justin Jordan of Cathedral Holdings, a 100-percent employee-owned ESOP since 2011. Kris and Justin are enthusiastic proponents of ESOPs, but they're also candid about what can go wrong. Yes, ESOPs come with big tax advantages. But the transaction can be complex. The debt can fundamentally change the risk profile of a business. And perhaps the most under-discussed challenge of all: not all employees embrace employee ownership. Some see it as little more than a glorified retirement plan. And here's the thing: an ESOP can be a far riskier retirement plan than many understand. They differ from 401(k)s in that there's no regulation requiring an ESOP to sequester its employees' retirement funds. If the company fails—and like all businesses, ESOPs do fail—those nest eggs can vanish. Kris and Justin explain how they've addressed these issues and what they might do differently if they were starting over. They also emphasize an important point: Not all ESOPs are created equal. “If you've seen one ESOP,” Justin likes to say, “you've seen one ESOP.”

In this episode of the Finish Big Podcast, host Mark Dorman sits down with Chris Cooper, Director of the Ohio Employee Ownership Center (OEOC) at Kent State University. For over 25 years, Chris has helped business owners across Ohio explore the power of employee ownership — guiding them through successful transitions, building strong ownership cultures, and creating legacies that last. Mark and Chris discuss: The OEOC Mission – How the Ohio Employee Ownership Center helps business owners transition their companies to employee ownership. The Human Impact – Real stories of employees who built life-changing wealth through ownership. ESOP Advantages – Why employee ownership creates win-win outcomes for owners, workers, and communities. Succession & Legacy – How founders can exit while preserving culture and jobs. EOT vs ESOP – The differences between Employee Ownership Trusts and ESOPs, and when each fits best. Collaboration & Support – How the OEOC partners with advisors, foundations, and business owners to make transitions possible. Success Story – A Cleveland company that became 100% employee-owned, creating over 200 new owners. The Future – Why Ohio leads the way in employee ownership and what it means for the next generation of business owners. Connect with Mark Dorman: Succession Plus US LinkedIn: Mark Dorman LinkedIn: Succession Plus Facebook: Succession Plus (330)-416-9271 mdorman@succession.plus About the Guest: Chris Cooper is the Director of the Ohio Employee Ownership Center (OEOC) at Kent State University. With over two decades of experience, Chris has worked with hundreds of business owners to explore employee ownership as a succession solution. He leads programs focused on succession planning, ownership culture, and employee-owned startups, and coordinates Ohio's Employee-Owned Network, which includes more than 100 companies. Chris has spoken at national and international conferences across the U.S., U.K., Canada, and Bermuda, and is a Certified Exit Planning Advisor (CEPA) through the Exit Planning Institute. His work bridges research, education, and real-world impact—helping business owners finish strong while keeping their companies and communities thriving.  

In this episode, Jason and Makenzie have a conversation around the meaning and relevance of assurance in the context of an M&A transaction and more specifically in an ESOP transaction. They discuss who needs assurance and why - whether it be in the form of a financial statement audit, surety bond, fairness opinion, or simply advice from your providers.

In this conversation, T.J. van Gerven and Matt Middendorp delve into the intricacies of Employee Stock Ownership Plans (ESOPs), exploring their role as a business transition tool, the benefits of employee ownership, and the tax advantages associated with ESOPs. They discuss the process of implementing an ESOP, the challenges that may arise, and how it compares to private equity options. The conversation emphasizes the importance of aligning employee incentives with company success and the positive impact of ESOPs on employee wealth and company growth.

This episode of Electrical Wholesaling's Executive Insights looks at Employee Ownership Stock Plans (ESOPs) and why they are becoming an increasingly popular ownership option for many family-owned businesses. Our guest is Albert Del Pilar, a managing director and a member of the leadership team at ButcherJoseph & Co., St. Louis, MO. He is an expert on ESOPs and has more than 20 years of global corporate finance and capital markets experience at industry-leading investment banks.

What do you need to do to keep employees engaged and committed? What should your position be on remote work? Side hustles? Ping pong tables? Should you offer all employees equity?Bringing Gen Z employees to your workplace is well worth it, but it means a mental pivot from the hiring team, keeping in mind an entirely new set of criteria.Chris and Yaniv discuss all this and more with Dan Brockwell, Founder and Chief Meme Officer of Earlywork, a vibrant community for early-career professionals.In this episode, you will:Understand the four key factors Gen Z professionals weigh when choosing startups: learning, culture, compensation, and impact.Learn why “job risk” and “career risk” are not the same and why startups often offer safer long-term bets.Discover how equity (ESOPs) can be both a powerful motivator and a cultural signal of respect for young talent.Explore the pros and cons of remote vs hybrid work for early-career employees and how to design hybrid intentionally.Recognize the rise of side hustles, and how founders can embrace them to retain ambitious, creative employees.Get insights into how Gen Z finds jobs through online communities, Slack channels, and personal branding instead of traditional job boards.[This is a replay episode. The original was published on May 26, 2022]The Pact Honor the Startup Podcast Pact! If you have listened to TSP and gotten value from it, please:Follow, rate, and review us in your listening appSubscribe to the TSP Mailing List to gain access to exclusive newsletter-only content and early access to information on upcoming episodes: https://thestartuppodcast.beehiiv.com/subscribe Secure your official TSP merchandise at https://shop.tsp.show/  Follow us here on YouTube for full-video episodes: https://www.youtube.com/channel/UCNjm1MTdjysRRV07fSf0yGg Give us a public shout-out on LinkedIn or anywhere you have a social media followingKey linksGet your question in for our next Q&A episode: https://forms.gle/NZzgNWVLiFmwvFA2A The Startup Podcast website: https://www.tsp.show/episodes/Learn more about Chris and YanivWork 1:1 with Chris: http://chrissaad.com/advisory/  Follow Chris on Linkedin: https://www.linkedin.com/in/chrissaad/  Follow Yaniv on Linkedin: https://www.linkedin.com/in/ybernstein/Producer: Justin McArthur https://www.linkedin.com/in/justin-mcarthurIntro Voice: Jeremiah Owyang https://web-strategist.com/

For the final episode of the Employee Ownership Month series, Jason interviews with Chris Fredericks, President and CEO of Empowered Ventures. Jason and Chris both discuss the power of employee ownership and how it can help expand a business, attract talent, and build more resilient companies. Their conversation highlights company growth, finding competitive advantage through a company's culture, and why employee ownership continues to matter in an AI world. This episode is the last part of the podcast's four-part series recognizing the importance of employee ownership.

In this episode, Tommy D sits down with Marie Davis and Matthew Epperson from the Georgia Center for Employee Ownership (GACEO) to unpack how business owners can use succession planning to keep companies, jobs, and legacies in their communities. They outline the three major models of broad-based employee ownership—ESOPs (a regulated retirement trust invested in the company), worker cooperatives (direct ownership with patronage profit sharing), and employee ownership trusts (EOTs) (mission-driven trusts that share value broadly)—and explain when each fits. Key clarifications: employees don't pay to join an ESOP, governance typically remains with a board, and sellers may access tax advantages such as a §1042 capital-gains rollover (for ESOPs and co-ops). The conversation anchors these ideas in the “silver tsunami” of boomer-owned businesses and why proactive planning preserves local economies.Marie and Matthew share real-world examples: Clegg Auto's EOT-backed expansion that kept Augusta's Regency Auto open with the same team and a new profit-sharing purpose trust; the growth of Love Is Love Cooperative Farm from five founders to 20 employees; and Athens-based JOMA Construction, which went 100% ESOP early, aligning a young workforce around long-term wealth building and retention. Beyond the why and how, they highlight practical on-ramps for owners and advisors—GACEO's Employee Ownership Ambassador Program and Exit Pro 101—and point to a national ecosystem of state centers (via EOX) that can match companies with experienced legal, accounting, valuation, and financing partners.If you're a founder, CFO/CPA, exit planner, or community leader exploring alternatives to traditional M&A, this episode shows how to transition ownership to employees, protect culture, and keep profits local. Learn more at GACEO.org and connect with Tommy D to continue the conversation.

October is ESOP Employee Owner MonthAn Employee Stock Ownership Plan, or ESOP, is a legal structure used in the U.S. to create an employee-owned company. Essentially, an ESOP is a type of retirement plan that invests primarily in company stock, holding the assets in a trust for the staff. Community IT is 100% employee-owned. This structure means our staff participates in the company's success. Not all ESOPs are 100% employee-owned. Our CEO Johan Hammerstrom walks through the decisions and concerns of our founder, David Deal, that the mission of the company always remain focused on serving nonprofits with well-managed IT. The best way to preserve that mission when he sold the company in 2012 was to sell it entirely to the staff. Being an ESOP is fundamentally important to Community IT because it ensures we maintain the stability and focus required to serve the nonprofit sector best. This structure guarantees we control our own destiny, allowing us to prioritize long-term, excellent service to nonprofit organizations over external pressures like seeking to be acquired or maximizing short-term profits for outside owners. Further, it enhances our culture by aligning the incentives of our passionate employees with our mission, empowering independent decision-making and ensuring that clients benefit from a dedicated, resourceful, and stable team that is invested in the organization's lasting success.Join CEO Johan Hammerstrom as he explains what October being ESOP employee owner month means to Community IT, our clients, and our dedication to providing excellent outsourced IT services.Interested in the ESOP structure advantages and how to become an ESOP? Contact Johan directly, he is always happy to talk about our ESOP. _______________________________Start a conversation :) Register to attend a webinar in real time, and find all past transcripts at https://communityit.com/webinars/ email Carolyn at cwoodard@communityit.com on LinkedIn Thanks for listening.

What's it really like to work inside one of India's most loved D2C brands?In this episode, Shantanu visits Ashoka University to talk to students about the journey of Bombay Shaving Company - how it started, why it was built, and the values that continue to guide its growth story.From startup stories and brand-building lessons to honest conversations about risk, purpose, and culture, it's a peek into what goes behind building a D2C brand that people truly love.Two interns also share their experiences while working at Bombay Shaving Company, the learnings, surprises, and what it's really like behind the scenes of a fast-growing D2C business. What's the one skill you'd love to learn from the team at Bombay Shaving Company? Tell us in the commentsNavigate your way through these chapters00:00 Coming Up00:34 How Bombay Shaving Company Started02:43 Why They Chose to Build BSC06:32 Core Values That Drive the Brand08:16 An Intern's Experience at BSC14:55 What to Expect Ahead

In this episode we explore what life is really like for leadership after a company becomes employee owned. Guest Kimberly McCourtney, former HR Executive of an ESOP company and currently the Peer Networking Manager at NCEO, shares her firsthand experience navigating the cultural and organizational shifts that follow the transition. Together, we discuss how leadership roles evolve when everyone has a stake, what an “ownership mindset” looks like in day-to-day operations, and why transparency and trust become the foundation for long-term growth. This thoughtful conversation offers a genuine look at the human side of employee ownership and is a must-listen for leaders in newly or soon-to-be employee-owned companies. 

In this episode of Unemployable with Jeff Dudan, Jeff sits down with Ellen Rohr — industry icon, financial educator, and co-founder of Zoom Drain, former president of Benjamin Franklin Plumbing, and current executive with ServiceTitan. Ellen shares her 40-year journey from cleaning up her husband's plumbing business to leading multi-million-dollar brands that transformed the trades.

In this episode of Unemployable with Jeff Dudan, Jeff sits down with Ellen Rohr — industry icon, financial educator, and co-founder of Zoom Drain, former president of Benjamin Franklin Plumbing, and current executive with ServiceTitan. Ellen shares her 40-year journey from cleaning up her husband's plumbing business to leading multi-million-dollar brands that transformed the trades.

In this episode, host Alex Partin and guests Serena Morones, David Harkins, and Kyle Wolf each bring their unique perspectives on Employee Stock Ownership Plans (ESOPs) and their critical role in succession planning for privately held businesses.  The conversation explores how ESOPs offer a compelling alternative to traditional exit strategies.  The panel brings together perspectives from business valuation experts and those with firsthand experience in ESOP-owned firms, offering practical insights for business owners considering this path. Key Takeaways: ESOPs as a Succession Tool: ESOPs provide a way for business owners to transition ownership to employees, maintaining company culture and values while offering liquidity and a gradual exit strategy. Business Valuation for ESOPs: The success of an ESOP partly depends on accurate, third-party business valuation, which determines fair market value for the transaction and ensures sustainability for both sellers and employee owners. Transparency and Engagement Drive Success: Companies that openly communicate ESOP benefits and valuation processes to employees foster a sense of ownership, improve retention, and create a more engaged workplace culture. Guests:   David Harkins, CPA/ABV/CFF, CFA, Mercer Capital Serena Morones, CPA/ABV, Morones Analytics Kyle Wolf, CPA/ABV, Stern Brothers Business Valuation Advisors Host:  Alex Partin, CPA/ABV, Mueller & Partin, PS Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION If you're using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links.  AICPA Forensic & Valuation Services Conference, Oct 27-29, Aurora, CO, attend virtually for 1,2,or 3 days  Business Valuation School - Dec 1-5, Live online NEW RESOURCE Welcome to a career in forensic and valuation services - early-career guidance, built for you AICPA Employee stock ownership plans (ESOPs) resource center Journal of Accountancy articles : Employee ownership and taxes:  Why firms are choosing ESOPs What to know when you client is considering employee ownership   Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content Valuations performed for employee stock ownership plans (ESOPs) and FAQs  What every valuation analyst should know about employee stock ownership plans (ESOPs)  The FVS Valuation Podcast archives From Analysis to Testimony: Key Skills for a Career in Forensic and Valuation Services The Business Valuation Profession Enhancing Professional Growth through AICPA FVS Section Resources and Participation LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com    

In this episode, host Alex Partin and guests Serena Morones, David Harkins, and Kyle Wolf each bring their unique perspectives on Employee Stock Ownership Plans (ESOPs) and their critical role in succession planning for privately held businesses.  The conversation explores how ESOPs offer a compelling alternative to traditional exit strategies.  The panel brings together perspectives from business valuation experts and those with firsthand experience in ESOP-owned firms, offering practical insights for business owners considering this path. Key Takeaways: ESOPs as a Succession Tool: ESOPs provide a way for business owners to transition ownership to employees, maintaining company culture and values while offering liquidity and a gradual exit strategy. Business Valuation for ESOPs: The success of an ESOP partly depends on accurate, third-party business valuation, which determines fair market value for the transaction and ensures sustainability for both sellers and employee owners. Transparency and Engagement Drive Success: Companies that openly communicate ESOP benefits and valuation processes to employees foster a sense of ownership, improve retention, and create a more engaged workplace culture. Guests:   David Harkins, CPA/ABV/CFF, CFA, Mercer Capital Serena Morones, CPA/ABV, Morones Analytics Kyle Wolf, CPA/ABV, Stern Brothers Business Valuation Advisors Host:  Alex Partin, CPA/ABV, Mueller & Partin, PS Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION If you're using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links.  AICPA Forensic & Valuation Services Conference, Oct 27-29, Aurora, CO, attend virtually for 1,2,or 3 days  Business Valuation School - Dec 1-5, Live online NEW RESOURCE Welcome to a career in forensic and valuation services - early-career guidance, built for you AICPA Employee stock ownership plans (ESOPs) resource center Journal of Accountancy articles : Employee ownership and taxes:  Why firms are choosing ESOPs What to know when you client is considering employee ownership   Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content Valuations performed for employee stock ownership plans (ESOPs) and FAQs  What every valuation analyst should know about employee stock ownership plans (ESOPs)  The FVS Valuation Podcast archives From Analysis to Testimony: Key Skills for a Career in Forensic and Valuation Services The Business Valuation Profession Enhancing Professional Growth through AICPA FVS Section Resources and Participation LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com    

In this episode. Makenzie interviews leaders from five diverse ESOP companies as they share their paths to employee ownership. Each organization offers a unique perspective on the transition process, the challenges and opportunities along the way, and the lasting impact ownership has had on their culture and performance. 

In this episode, Jason interviews Corey Rosen of the National Center for Employee Ownership. Corey tells Jason a story to unpack what employee ownership really looks like – the hopes, the doubts, and the decisions that define the first step of the journey. The episode is designed as an educational resource to make the concept of employee ownership approachable – simple, clear, and human. If you've ever wondered as an owner how to move from curiosity to confidence, this is a great place to start. 

For the first time ever, the Prime Venture Partners investment team — 1 Principal and 2 Vice Presidents — sit down to answer everything founders wish they could ask a VC face-to-face.This isn't theory. This is the real inside view of how venture capital works in India:

In this podcast episode, Jason announces a special release schedule for Employee Ownership Month. For the month of October, the podcast will feature special guests, educational resources, and ESOP insights. Be sure to return each Friday for the next installment!  

In this episode of the On Track Podcast, we kick off ESOP Month with a conversation between Sebastian and Fortunat Mueller, co-founder & CEO of ReVision Energy, about their journey to 100% employee ownership, why “act like an owner” and curiosity lifts quality and safety, and how ESOPs strengthen culture, recruitment, and resilience through ups and downs.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

Welcome back to Beyond the Claim with host Vince Perri, your business broker and exit strategist. Today's guest is Claudio Vilas, a roofing business broker and owner of The Roofing Biz Broker. We break down exactly how to sell a roofing company for maximum value, what really drives roofing valuation and EBITDA multiples, why private equity loves fragmented blue-collar industries, and how rollups, ESOPs, and the “second bite of the apple” can change your life at exit. Inside, Claudio shares the biggest deal killers he sees in due diligence, how to prepare your books the right way three years before a sale, owner-dependency traps, what to disclose and when, and why telling your management team early can actually de-risk the deal. We also cover customer concentration, the problem with insurance-heavy revenue, and how predictable marketing and sales engines earn better multiples. If you're in roofing or insurance claims, this is a masterclass on exit planning and M&A strategy. Grab the free “Roofing Exit Readiness Checklist” mentioned in the episode and get serious about value creation starting today. Guest Bio Name: Claudio Vilas Title: Roofing Business Broker, Owner at The Roofing Biz Broker Email: claudio.vilas@theroofingbizbroker.com Website: https://www.theroofingbizbroker.com LinkedIn: https://www.linkedin.com/in/claudiovilas-business-broker/ Instagram: https://www.instagram.com/claudiovilasbb/ Facebook: https://www.facebook.com/claudio.vilas.967

In this episode of ValuationPodcast.com, host Melissa Gragg sits down with Kelly Finnell, one of the nation's top ESOP consultants with over 40 years of experience. Together, they uncover insider strategies behind ESOP valuation, regulations, financing, and exit planning. From misconceptions about fair market value to how ESOP-owned companies merge, this discussion helps business owners, advisors, and valuation professionals understand what really happens inside an ESOP deal.Whether you're considering selling your business, exploring employee ownership, or advising clients on exit strategies, this episode will help demystify ESOPs and show why they're booming among baby boomer founders.

In this episode, Jason tells a campfire story to illustrate the learning process of the ‘ESOP language' and its importance on your Journey to an ESOP and Beyond. He discusses the importance of language in communication, highlighting its role in conveying ideas and facilitating collaboration.

For business owners thinking about their exit, the choice often seems limited to selling to a competitor or to a private equity firm. But there's a third option, ESOPs, that secures their legacy and rewards the very people who helped build the company. Royer Cooper Cohen Braunfeld's Andy Rudolph, Marc Hirschfield and David Dalesandro take a deep dive into Employee Stock Ownership Plans to break down how this unique succession path works — from the powerful tax advantages to the mechanics of financing the deal. They also explore the founder's role after the sale and the keys to building a thriving ownership culture long after a transition.

Blunt Business welcomes Darren Gleeman, author of "The Cannabis ESOP Architect," to discuss how Employee Stock Ownership Plans (ESOPs) offer a revolutionary, IRS-approved, zero-tax exit strategy for cannabis businesses, making the 280E tax irrelevant. Darren explained that ESOPs are the only significant M&A activity in the cannabis sector, fostering employee engagement and retention by turning them into owners with bulk payouts upon leaving, while increased cash flow from tax savings fuels company growth. He also stated that federal rescheduling would enhance ESOP benefits, and discussed the book's role in educating the industry and his interest in advertising strategies for client acquisition.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

ESOPs (Employee Stock Options) are one of the least understood parts of compensation in India. Are they wealth creators or just glorified lottery tickets? We break down everything you need to know, the trade-off between salary and ESOPs, the risks of taxation and dilution, and how exits, IPOs, and secondary markets really work. From early employee bets to Flipkart's game-changing Walmart deal, we explore stories that show both the pitfalls and life-changing rewards. If you've ever been offered ESOPs or are considering them. This podcast will help you make informed decisions about your financial future. Chapters: 00:00 - Intro 02:57 - Salary vs ESOP: the real trade-off 15:02 - ESOPs ≠ Shares? 28:35 - Should companies help you exit? 37:41 - Black-Scholes for expense 40:39 - Why not just give shares? 45:59 - Promoters/Directors rules in India 50:11 - What every employee must check in their ESOP package! 57:20 - After the payout: diversify & spend

What if a fried chicken fryer sparked a global movement in conscious business?In this episode of The Conscious Capitalists, hosts Timothy Henry and Raj Sisodia sit down with Rob Connelly, Executive Chairman of Henny Penny, a 100% employee-owned food service equipment manufacturer serving the world's busiest kitchens, from Chick-fil-A to McDonald's.Rob shares the remarkable story of how a small-town company became a global leader in innovation while staying true to its purpose: positively impacting people. From navigating COVID without a single layoff, to pioneering employee ownership through an ESOP model, to creating an on-site health clinic and wellness programs for employees, Henny Penny proves that putting people first drives resilience, growth, and innovation.This conversation goes beyond business mechanics, it's about culture, stewardship, and the soul of a company. Rob opens up about his leadership journey, the mentors who shaped him, and why he believes companies must focus on people before numbers.Listeners will gain insights into:How Henny Penny doubled its business after COVID without layoffs or pay cutsThe power of employee ownership and why ESOPs align with conscious capitalismWhy innovation starts with long-term relationships, not just technologyPractical ways to build a “best place to work and grow” cultureRob's belief that companies can (and should) have a soulLessons on intentional leadership, well-being, and building businesses that last 100 yearsWhether you're a CEO, entrepreneur, or simply curious about people-first business, this episode offers a living case study in how to thrive by doing good.**If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: https://www.theconsciouscapitalists.comThis show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew Jones as Executive Producer, Rithu Jagannath as Lead Producer, and Nathan Wheatley as Editor.Thank you for your support!- Timothy & Raj

ESOPs for ArchitectsIn this episode of Build Smart, Mark R. LePage sits down with Matt Middendorp, Director of ESOP Consulting at Vision Point Capital, to demystify the world of Employee Stock Ownership Plans (ESOPs) for architects and design firm owners. They explore how ESOPs work as both a business transition strategy and a tool for building long-term employee wealth. Matt explains the financial and cultural benefits of this model, from creating buy-in at every level of a firm to offering owners an alternative to traditional succession paths. He also outlines common pitfalls to avoid when approaching an ESOP and stresses the importance of aligning company culture with ownership goals.Matt shares his personal journey into the ESOP space, beginning with his time at an ESOP-owned company during college that sparked his passion for employee ownership. With a background spanning banking, entrepreneurship, and consulting, Matt brings a rich perspective on how ESOPs can change the trajectory of a business. He highlights the valuation process, the timeline firms should expect for implementation, and the need for transparency throughout the transition. For architects wondering if an ESOP is the right fit, Matt provides clear insights into what the process looks like and how it affects daily operations.Beyond technical details, the conversation emphasizes the human side of ESOPs—how ownership impacts morale, culture, and the sense of shared purpose in a firm. Matt points out that employee ownership is more than a financial arrangement; it's about creating sustainable businesses that thrive well beyond their founders. With his practical expertise and passion for education, Matt helps leaders envision how ESOPs can serve as both a growth strategy and a legacy plan. Whether you're an architect preparing for succession or simply curious about alternative ownership models, this episode offers the clarity and context you need to start exploring ESOPs.This week at EntreArchitect Podcast, ESOPs for Architects with Matt Middendorp.Find Matt online at Vision Point Capital, email him at matt.middendorp@visionpointcapital.com, and connect with him on LinkedIn.Please Visit Our Platform SponsorsArcatemy is Arcat's Continuing Education Program. Listen to Arcat's Detailed podcast and earn HSW credits. As a trusted provider, Arcat ensures you earn AIA CE credits while advancing your expertise and career in architecture. Learn more at Arcat.com/continuing-education.Visit our Platform Sponsors today and thank them for supporting YOU... The EntreArchitect Community of small firm architects.

In this episode, I'm joined by Wes and Doug from Alpha Architect to dive deep into the world of Employee Stock Ownership Plans (ESOPs). We talk about the options for selling a business, like selling to competitors or private equity, and break down the unique benefits of ESOPs. Some highlights:What is an ESOP and how does it function?Tax benefits for business owners and employeesWho is a good candidate for an ESOP?Real-life examples and success stories-------✅ Financial planning for 30-50 year old entrepreneurs: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.allstreetwealth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠✅ My personal blog & newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.thomaskopelman.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.

In this episode, Makenzie breaks down a leveraged ESOP transaction and the resulting impacts to a company's financial statements. This episode highlights the journal entries required for a simplified, leveraged ESOP transaction in accordance with generally accepted accounting principles including common mistakes to avoid. 

Chuck Monico is the CEO at Ryan Lawn & Tree, where he helps associates and leaders discover and develop their full potential, empowering them to become the best versions of themselves while achieving personal and professional growth. Chuck has over 30 years of experience in leadership combined with community involvement and holds a degree in Accounting from the University of Nebraska at Omaha. Chuck believes that his work positively impacts not only the lives of Ryan Lawn & Tree associates but also the customers and communities that RYAN serves.

In this special episode, we're breaking down the basics of ESOPs—Employee Stock Ownership Plans. Whether you're hearing the term for the first time or just want a clear, beginner-friendly explanation, this episode is for you. Our guest - Matt Middendorp shares what an ESOP is, how it works, who it benefits, and why more companies are considering it as a smart succession or employee engagement strategy. Simple, direct, and informative—consider this your crash course in ESOPs.Matt Middendorp, the Director of ESOP Consulting at Vision Point Capital, is a seasoned entrepreneur, and a passionate advocate for employee ownership. With a strong foundation in banking and consulting, Matt's journey began at an ESOP-owned company during college, where he developed a lifelong appreciation for the transformative culture of ESOPs.An award-winning banker and successful business owner, Matt now dedicates his career to guiding business owners in adopting and thriving with ESOPs. As a sought-after speaker and contributor in the industry, he brings valuable insights into every conversation.Outside of work, Matt enjoys musky fishing, competing in triathlons, and exploring fossil digs.Contact Information Matt Middenorp- matt.middendorp@visionpointcapital.com or 715.897.0879.Benny Carreon- Velocity Technology Group- benny@velocitytechnology.group;https://velocitytechnology.group/Dennis Jackson-WorX Solution- dennisj@worxsolution.com ; www.worxsolution.comwww.wfhwith2guys.com

Do you really know what makes your business valuable to buyers? Would your company attract the right buyer if you tried to sell today?In this episode of The Business Ownership Podcast I interviewed Tristan Tahmaseb. Tristan Tahmaseb is a Director at ButcherJoseph & Co. He helps founder- and family-owned businesses navigate complex ownership transitions, from M&A to ESOPs and recapitalizations. With over $2 billion in advised transaction value, he's known for pairing technical expertise with a passion for legacy-driven succession planning. Tristan is an advocate for broad-based employee ownership and serves on the Finance Advisory Committee for The ESOP Association. Named an “Investment Banker to Watch” by Middle Market Growth, he's a Harvard graduate and a former collegiate football player, bringing both strategic insight and competitive drive to every deal. If you've ever thought about selling—or just want to know what buyers really care about—this episode is for you.Learn how to maximize your business value. Check this out!Show Links:Tristan Tahmaseb on LinkedIn: https://www.linkedin.com/in/tristan-tahmaseb/ButcherJoseph & Co. Website: https://butcherjoseph.com/Book a call with Michelle: https://go.appointmentcore.com/book/IcFD4cGJoin our Facebook group for business owners to get help or help other business owners!The Business Ownership Group - Secrets to Scaling: https://www.facebook.com/groups/businessownershipsecretstoscalingLooking to scale your business? Get free gifts here to help you on your way: https://www.awarenessstrategies.com/ 

On this episode, Jason Miller interviews Makenzie Wirth, the newest member of our Journey to an ESOP team. From a career in public accounting to her current role in ESOP advisory, Makenzie discusses her journey in learning about employee ownership over the last several months. The podcast highlights her fresh perspective on ESOPs and employee ownership and includes a sneak peak of what she will bring to the podcast in future episodes. 

What happens when AI collides with salesmanship, streaming-era sports, and healthcare?In this episode, Erik Torenberg is joined by Mark Cuban, entrepreneur, Dallas Mavericks co-owner, and founder of Cost Plus Drugs.Topics include fiery group chats and how dissent sharpens thinking, the sales playbook of modern politics, and concrete fixes for U.S. healthcare like ending PBM opacity, publishing real prices, and government-backed patient financing. Mark also explains how AI is pushing media from “social” to algorithmic, why he expects millions of models, and why ESOPs are an underrated wealth engine. He shares what he'd build today and weighs in on NBA economics under the new collective bargaining agreement.Timecodes: 00:00 Introduction 00:47 Salesmanship, Politics, and Social Media04:05 AI, Algorithms, and the Future of Media06:29 Fragmentation of Social Platforms09:04 Political Messaging & Economic Populism12:05 Wealth, Equity, and Employee Ownership16:39 AI's Impact on Education and Healthcare21:32 Fixing the US Healthcare System29:39 Entrepreneurship in the Age of AI33:38 Business Success, Sports, and Investments35:32 NBA Economics and Team Building50:44 Personal Priorities & Closing Thoughts Resources: Find Mark on X: https://x.com/mcuban Stay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://x.com/eriktorenbergPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

In this episode Jason flies a little too close to the sun when discussing the impact of a company's structure on its ability to harness the power of employee engagement. The discussion covered how employee engagement impacts business success, with comparisons to different types of civilizations and their energy usage, including the idea of harnessing this energy effectively. Overall, this is episode provides recommendations for improving employee engagement levels within companies, emphasizing the importance of collective effort and the role of successful businesses in supporting local economies. 

Sep 1, 2025 – Discover how retiring business owners can unlock powerful, little-known tax advantages while preserving their legacy in this insightful interview with Lawrence Kaplan of CSG Partners. Financial Sense host Jim Puplava explores how employee...

In this episode, Jason Miller interviews Miriam Agrell and Kavita Vora from The Fraction Collective. Throughout the conversation, they highlight different ways that creative agencies and ESOPs intersect. The group discusses the reality of succession planning and how ESOPs are an attractive option for business owners who are looking for an exit strategy.

In this podcast episode, Jason discusses the best ways to approach succession planning. He focuses on tackling succession with intention and covers common obstacles that stand in the way of owners achieving their vision for a successful ownership transition. 

In this episode of the Finish Big Podcast, host Mark Dorman welcomes back Corey Rosen, founder of the National Center for Employee Ownership (NCEO), for Part 2 of their conversation on alternative ownership structures—specifically, the Employee Ownership Trust (EOT). Following their earlier discussion on Employee Stock Ownership Plans (ESOPs), Mark and Corey explore how EOTs differ, their origins, and why some business owners may choose them over ESOPs. They cover the practical, cultural, and philosophical factors driving this emerging succession strategy in the U.S. Mark and Corey discuss: EOT Origins & Growth: How the model evolved in the UK (inspired by the John Lewis Partnership) and its rapid adoption overseas. Key Differences from ESOPs: Costs, complexity, tax implications, and the flexibility to set custom rules for ownership and profit distribution. Ideal Candidates: Why smaller companies (often under 50 employees) and owners committed to long-term independence may benefit most. Purpose Trusts: How some companies, like Patagonia, use ownership trusts for social and environmental missions. Succession Planning Considerations: When an EOT makes sense versus a management buyout, phantom stock, or other equity models. NCEO's Role: Resources, research, and networking opportunities for companies exploring employee ownership. Connect with Mark Dorman: Succession Plus US LinkedIn: Mark Dorman LinkedIn: Succession Plus Facebook: Succession Plus (330)-416-9271 mdorman@succession.plus About the Guest: Corey Rosen is the founder of the National Center for Employee Ownership (NCEO). A former Capitol Hill staffer and political science professor, Corey helped draft early ESOP legislation in the 1970s and has since authored numerous books and research papers on employee ownership. Today, he leads NCEO's mission to educate and support businesses considering employee ownership as a sustainable, wealth-building alternative to traditional exits.  

What you need to know about settling employee participation programs in an exit scenario, with a focus on the German market.

In this episode, the podcast interviews Steve Baker, Vice President of Great Game of Business, Inc. Steve gives insight into the importance of financial literacy in building a company's value through a culture of accountability, the dignity of equity ownership, and the hope of a financially successful future. To join us at the Great Game of Business Conference in September, please follow the link below!  Learn more about the Great Game of Business Conference: https://www.greatgame.com/conference-2025Learn more about Steve Baker: https://www.greatgame.com/about/our-team/steve-baker

This episode uses the classic film, Indiana Jones, as our feature film. The podcast utilizes this retro film as an example of something that never goes out of style-just like business owners helping their employees! The question the podcast discusses is if an ESOP is the best option for your company and people? This is a common question on anyone's journey to an ESOP. The podcast attempts to help listeners asses where they are in company development of employee engagement. 

What if there was a legal way for cannabis companies to eliminate federal income tax and reward employees with ownership at the same time? Darren Gleeman, Managing Partner of MBO Ventures, joins the show to break down the rise of ESOPs (Employee Stock Ownership Plans) in the cannabis industry. In this episode, we explore: Why ESOPs are a "game-changer" for cannabis companies  How they help companies legally avoid the burden of 280E  What MSOs (multi-state operators) and smaller cannabis businesses need to know  How selling your company to your employees can boost valuation, reduce taxes, and create long-term loyalty  The surprising political role cannabis could play in the 2024 election  Whether you're an operator, investor, or just curious about business strategy in cannabis, this is a conversation you won't want to miss.

In this episode of the Power Producers Podcast, David Carothers isjoined by BrianBaughman, VP of Sales at the HartwellCorporation. They delve into the fascinating world of ESOPs(Employee Stock Ownership Plans) within the insurance industry. Brian sharesvaluable insights on how ESOPs work, their benefits, and why this ownershipstructure is a game-changer for businesses looking to create long-term wealthfor their employees. They discuss the significance of fostering ownershipculture, the challenges and advantages of implementing ESOPs, and how itimpacts recruiting and retention in today's competitive job market. Key Highlights: What is an ESOP? Brianexplains the basics of ESOPs and how they offer employees ownership in thecompany, ultimately leading to long-term wealth building. Benefits of an ESOP The conversation breaks down the primary benefits of ESOPs: ownership legacy,tax incentives, and how they can be a major factor in recruitment andretention of top talent in the insurance industry. ESOPs in the Insurance Industry Brianemphasizes how ESOPs are changing the game for insurance agency owners,offering an alternative to selling to third parties and ensuring employees'long-term financial security. Recruitment & Retention with ESOPs David and Briandiscuss how ESOPs help agencies attract and retain top-tier talent,particularly in an era of remote work and poaching from larger agencies. The Challenges of Implementing an ESOP While ESOPs offer many benefits, Brian highlights the time, financialinvestment, and compliance involved in establishing one. He shares hisexperiences with clients who have successfully transitioned to ESOPs. ESOP for Long-Term Stability Brianexplains why ESOPs offer more stability compared to selling to private equityfirms or competitors, allowing agency owners to protect their legacy and theiremployees' futures. Connect with: David CarothersLinkedIn Brian BaughmanLinkedIn Kyle Houck LinkedIn Visit Websites: PowerProducer Base Camp The Hartwell Corporation Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes    

Are you an entrepreneur dreaming of a business that not only thrives financially but also creates a lasting legacy for its people and community?This week on That Entrepreneur Show, we're honored to host John Abrams, a visionary business leader, speaker, and author who's dedicated his life to making business a force for good. As the co-founder of South Mountain Company, John spent 50 years building a highly successful, integrated architecture, building, and solar firm that became one of the highest-scoring B Corps in the world, proving that profit, people, and planet can go hand-in-hand.John's groundbreaking journey began when he converted South Mountain Company to a worker cooperative, long before "employee ownership" was a mainstream concept. Now, as millions of small business owners look to retirement without a succession plan, John is releasing his new book, From Founder to Future: A Business Roadmap to Impact, Longevity, and Employee Ownership, to share his invaluable lessons.In this transformative episode, John reveals:The compelling reasons to embrace employee ownership and how it can empower your team and enrich lives.The concept of "CommonWealth Companies" – organizations built on common ownership, profits, power, information, and purpose.His own journey through the five crucial transitions to becoming a CommonWealth Company, including invaluable lessons learned over five decades.The distinct differences between employee ownership models like worker cooperatives, ESOPs, and Employee Ownership Trusts, and how to choose the right path for your business.The surprising impact of employee ownership on both our economy and our democracy.Subsidized housing for the richJohn's insights are a blueprint for entrepreneurs who want to ensure their hard work translates into enduring success and a positive societal footprint. If you're looking to scale, transition, or simply build a business with a deeper purpose, you won't want to miss this episode.Press play now to discover how to future-proof your business, empower your employees, and truly build a legacy that lasts.Support the showBe sure to subscribe to stay current with our episodes. Want the episode freebie or have a question for our guest or Vincent? Interested in becoming a guest or show partner? Email Danica at PodcastsByLanci@gmail.com.Show Partners:Coming Alive Podcast Production: www.comingalivepodcastproduction.comJohn Ford's Empathy Card Set and App: https://www.empathyset.com/ Music Credits: Copyright Free Music from Adventure by MusicbyAden.

My mission at Wealth Formula Podcast is to provide you with real financial education. You may have heard of something called the Dunning-Kruger curve. In short, when you start learning something new, you know that you don't know anything. That's the safe zone. The dangerous part is what I call the red zone—when you've learned just enough to think you know a lot, but really… you don't. Then, eventually, if you keep learning, you get to the point where you finally realize how little you actually know—and how much more there is to understand. That's kind of where I am now. And so, the only thing I can do—and the only thing I encourage you to do—is to keep learning more than we knew yesterday. Take this week's episode. We're talking about Employee Stock Ownership Plans, or ESOPs. Until recently, I didn't fully understand how they worked. And I'd bet most business owners don't either. Which is exactly why this episode matters. Even if you don't currently own a business or a practice, I still think it's important to learn about strategies like this—because someday you might. And in the meantime, you're expanding your financial vocabulary, which is always a good investment. So, what is an ESOP? At its core, an ESOP is a legal structure that allows you to sell your business to a trust set up for your employees—usually over time. It's a way to cash out, preserve your legacy, stay involved if you want to, and unlock some massive tax advantages in the process. But before we talk about all the bells and whistles, let's address the number one question that confuses almost everyone—including me: Where does the money come from? If you're selling your company to a trust, and your employees aren't writing you a check… how the hell are you getting paid? Here's the answer: You're selling your business to an ESOP trust, which is a qualified retirement trust for the benefit of your employees. That trust becomes the buyer. But like any buyer, it needs money. So how does it pay you? There are two main sources: Bank financing – Sometimes, the ESOP trust can borrow part of the purchase price from a lender. Seller financing – And this is the big one. You finance your own sale by carrying a note. That means you get paid over time, through scheduled payments—funded by the company's future profits. The company continues to generate cash flow, and instead of paying it out to you as the owner, it pays off the loan owed to you as the seller. So yes—it's a structured, tax-advantaged way to convert your equity into liquidity using your company's own future earnings. You're not walking away with a check on Day 1—but you are pulling money out of the business steadily and predictably, often with interest that beats what a bank would offer. And here's the kicker: If your company is an S-corp and becomes 100% ESOP-owned, it likely pays no federal income tax, and often no state income tax either. That means a lot more money stays in the business—available to fund your buyout faster. If you're a C-corp, you might even qualify for a 1042 exchange, which can defer or eliminate capital gains taxes entirely if you reinvest the proceeds in U.S. securities. And here's something the experts probably won't say out loud—but I will: This isn't always about selling your business. Sometimes, it's just a very clever way to get money out of your business and pay less tax. You'll hear ESOP consultants talk about legacy and succession planning—and that's all true and valuable. But in reality, some owners use ESOPs as a pure tax play. They stay in control, they keep running the business, and they simply create a legal structure that lets them pull money out tax-efficiently while rewarding employees along the way. Think of it less like a sale and more like a smart internal liquidity strategy. You still own the culture. You still drive the direction.