Shows
Journey to an ESOP & BeyondEP7- ESOP Experience Industrial Supply Company (ISCO) with Jason Ireland, PresidentOn this podcast episode we interview Jason Ireland, President of Industrial Supply Company (ISCO), a distributor of manufacturing parts who went 100 percent ESOP last year. Jason explains the step by step process their 100-year-old company went through to transition to an ESOP process. The company was part union and part non-union, providing some background for some companies dealing with that reality. There is even a ghost in this story…but he cannot be part of the ESOP (it’s an ERISA thing). We discuss the consensus building process with multiple shareholders and Jason’s future generation as part of the leade...2025-03-1038 minJourney to an ESOP & BeyondEP30 - Challenges For Mature ESOP CompaniesThis episode addresses effort the challenges and applicable solutions for a mature ESOP company. Diana Clark and Jason Miller provide insight into including preservation of ESOP knowledge in the organization contemplating changes to leadership. Other items we discuss include how to look ahead at areas that need to be thought about not only as a mature ESOP but also preparing ahead of time for these issues. The discussion includes best practices that should be thought about post ESOP issues. ESOP companies should be focused on the long-term sustainability as companies build out infrastructure the can produce solid results like emp...2024-11-0747 minJourney to an ESOP & BeyondEP16 - ESOPs and Private Equity - Discussion with Jason MillerOn this episode, Jason Miller (former National Director of ESOPs for Bank of America) and I explore the “Expanding ESOP Initiative” that was recently aired on 60 Minutes. The focus of this podcast is to provide an update as to what is happening in the National ESOP space and how the ESOP initiative started. The initiative’s work is centered around the question: “Why are there not more ESOP companies in the United States?” Jason Miller was part of the initiative and shares some insight into the process and how this initiative is currently being developed. 2024-06-0546 minJourney to an ESOP & BeyondEP24 - Potential issues for ESOPs during recessionary times with Michael Miller - ESOP Trustee.The economy is difficult to predict but if we have a downturn how will that affect your ESOP? This episode provides a good overview for both companies moving into ESOP and those existing ESOPs as it relates to working through potential issues of a downturn with seasoned expert ESOPs trustee and benefit plans - Michael Miller.2022-08-1838 minJourney to an ESOP & BeyondEP41 - JAWs - Finding your Blue Ocean Strategy on your journey to an ESOPThis episode highlights "The Blue Ocean Strategy" by Renee Mauborgne and W. Chan Kim to help you prepare for your end of year planning strategies. The episode provides tips on using some of the tools to help walk through the process of creating blue ocean ideas.2021-12-1034 minJourney to an ESOP & BeyondEP40 - McFarland - Running on KPIs - How measuring the right numbers can help you on your Journey to an ESOPThis episode covers how key performance indicators can be used to improve the strength of your company and possibly lead to higher business valuations and be an advantage in negotiations for the sale of your company to an ESOP.2021-11-3031 minJourney to an ESOP & BeyondEP39 - ESOP board of directors - interview with Richard Cope "how the board can support your ESOP company going to the next level"In this episode Rick and I explore the value of the board of directors for an ESOP company - definitely helpful for those on a journey to an ESOP to leverage this requirement into an means to support growth and higher valuations.2021-11-2040 minJourney to an ESOP & BeyondEP38 - In The Air Tonight - Right People/Right SeatsThis episode tackles the work needed for all companies but especially companies on a journey to an ESOP to get the right people in the right seats inspired by me recent Southwest flight. It focus on three primary activities - recruitment strategy, onboarding and letting people go...2021-11-1240 minJourney to an ESOP & BeyondEP37 - The Decision to become an ESOP company - a discussion with Todd Knowlton - CEO of Smooth Fusion from Lubbock, Texas.In this episode Todd Knowlton, CEO of Smooth Fusion explains his reasons to turn his company into an ESOP. In this case, Todd and I went through the ESOP process as a non-leveraged contribution for this first step on his journey to an ESOP - find out what his factors were and why their company went this route.2021-11-0242 minJourney to an ESOP & BeyondEP36 - The Lost Boys - The "Cost" of an ESOP transactionThis episode we explore the cost of an ESOP - going through the comparison of an M&A transaction with an ESOP - similarities, differences and result of how that is interpreted in the ESOP marketplace.2021-10-2040 minJourney to an ESOP & BeyondEP35 "An ESOP deal - case study" Discussion with Mike Zeller - ESOP attorney from Moore & Van Allen out of Charlotte, NC.On this episode - I discuss with Mike Zeller, a very experienced ESOP attorney one of his case studies in working through a leveraged ESOP transaction. There are some interesting points to consider from this ESOP case study!2021-10-1146 minJourney to an ESOP & BeyondEP34 - Office Space - An analysis on ESOPs as C-CorpsThis episode covers the basics of C-Corp tax as it relates to ESOPs and provides an alternative to the 1042 to deal with Capital gains tax using code section 1202.2021-10-0531 minJourney to an ESOP & BeyondEP33 - Interview with Greg Daugherty ESOP attorney with Porter Wright from Columbus, OH to discuss the ESOP pre-funded strategy.This episode Greg and I discuss the pre-funded ESOP strategy as a way to take the tax deduction each year while planning for your ESOP leveraged transaction. We discuss the pros and cons of this strategy that might give you some ideas about your own journey to an esop.2021-09-2241 minJourney to an ESOP & BeyondEP32 - Tommy Boy - "A reorg"...what does that mean? Trying to get both the 1042 and S-Corp exemption for ESOPs!This episode reviews the details of what is known as an A Reorg...for companies that are going Esop and are currently S-corps. This opens up the topic of whether or not you can revoke the S-Corporation and then as a C-Corp take the 1042 capital gains tax deferral then immediately go back to an S-corporation which by IRS code should be a five year waiting period. Some advisors use this as a tactic to sell the client on their services which are probably going to be pretty costly...listen on to see what kind of questions you should ask on...2021-09-1228 minJourney to an ESOP & BeyondEP31 - A Partial ESOP - Experiences from newly formed ESOP company: AOTC - Brian Barnett and Todd McDowellThis episode features a newly formed ESOP from 2020 - a company called AOTC with its owner Brian Barnett and Todd McDowell. They chose to establish a partial ESOP as a business strategy not an immediate exit but to enhance a strong employee company culture.2021-09-0641 minJourney to an ESOP & BeyondEP30 - Spiderwick - Skeptics Scowl - myths and misconceptions of ESOPsThis episode I discuss some common myths and misconceptions from experience with ESOP skeptics...thinking about the process of working the shareholders and advisors skepticism is an important and essential step on this journey to an ESOP.2021-08-3035 minJourney to an ESOP & BeyondEP29 - ESOPs as a solution for wealth inequality - discussion with Thomas Dudley - CEO of Certified EO.This episode evaluates the points of Thomas' recent article published at the Harvard Business School regarding ESOPs as a solution to the gap in wealth inequality. Thomas and I discuss this socio-economic reality in our country and the possibilities that ESOPs create in helping to solve this national crisis.2021-08-1936 minJourney to an ESOP & BeyondEP28 - Godfather - ESOP plan design - planning for the deal you cannot refuse...This episode provides a decent overview of ESOP plan design that will give you some exposure to ESOP employee vesting, eligibility, allocation methods and other areas for you can be thinking about for your future ESOP.2021-08-1429 minJourney to an ESOP & BeyondEP27 - Discussion with Darren Gleeman MBO Ventures from New York - "ESOPs and capitalism"Darren Gleeman is a former Wall Street trader with his own entrepreneurial ventures. He is active in the ESOP industry. Our discussion is all about how ESOPs work to promote capitalism in America.podcast video https://www.youtube.com/watch?v=29tIx0XhjDE2021-08-0940 minJourney to an ESOP & BeyondEP26 - A few good men/women - interviewing an ESOP TrusteeThis episode is a little quirky as I struggle to do a Jack Nicholson impersonation - the interview process for finding the right trustee for your ESOP is a critical step. This episode focuses on us what to ask when your transaction trustee and what you should get out of this important step on this journey to an esop.now2021-07-3034 minJourney to an ESOP & BeyondEP25 - The Spectrum of Fiduciary for ESOPs - interview with Rick Pearl of Faegre DrinkeThis episode provides a good overview of all of the roles in an ESOP company and their respective fiduciary responsibilities. This was an interesting interview and might surprise some folks when it comes to what does fiduciary responsibility mean and who has it....2021-07-2638 minJourney to an ESOP & BeyondEP24 - King Kong - Growth versus Scalability for companies planning an ESOPThis episode focuses in on the what do I do with my forecast - documenting revenue and profit growth that will enable a strong ESOP transaction which should be accompanied with a plan to get there...getting into the difference of growing your business versus scaling...and multiple tips on simple ideas that you may or may not have thought about already.2021-07-1933 minJourney to an ESOP & BeyondEP23 - Essence of Entrepreneurialism to support an ESOP transition and sustainability - Interview with Eleanore Rue from the perspective of a singer/songwriter from Nashville, TNThis episode features an interview with singer/songwriter Eleanore Rue pushing forward in the Nashville area with a long term vision, product development, marketing, finance, and most of all courage. (Oh yeah - she happens to be my daughter - who better to interview.) For companies considering an ESOP - being an entrepreneur is vital for the founding of a business and for the future sustainability of their ESOP business. An ESOP company is no different than other companies and should understand how to recreate the entrepreneurial process in the next generation of leaders.2021-07-1028 minJourney to an ESOP & BeyondEP22 - 100 foot Journey - an S-Corp with a side of 1042This episode reviews the current benefits of being S corporation ESOP and updates everyone on senate bill 1300 that could provide a new opportunity for a company to remain in S Corporation but also have the selling shareholders defer capital gains tax using the 1042 election.2021-07-0327 minJourney to an ESOP & BeyondEP21 - “Create Amazing” Interview with author Greg Graves, Retired, Chairman and CEO, Burns & McDonnell - ESOP company.This episode features an interview about Greg’s book and the principals he employed to crest an amazing culture leveraging the power of an ESOP. Greg’s story includes leading one of the fastest-growing and most successfulengineering, architecture, construction and environmental consulting firms in North America. Graves began his career at Burns & McDonnell in 1980, fresh out of college. Twenty-two years later, at the age of 43, he was named just the sixth CEO in the firm's 104 year history. He became CEO on Jan 1, 2004. From 2004-2016, the results speak for themselves: · Employment grew fro...2021-06-2540 minJourney to an ESOP & BeyondEP20 - Forrest Gump versus John D. Rockefeller - leveraging successful business habits for your ESOP.This episode explores the 10 Rockefeller habits to help companies assess their business on their journey to an esop as to areas to improve as well as providing specific areas to support strengthening their leadership teams.2021-06-1834 minJourney to an ESOP & BeyondEP19 - Discussion with Peter Jones from Tucker Ellis - Value of Independence for ESOPsThis episode provides a discussion with Peter Jones related to the requirements that ESOPs have independent board members and some best practices of having independent trustees. Some insights into how to make this a positive for your ESOP.2021-06-0439 minJourney to an ESOP & BeyondEP18 - Lifecycles of ESOPs - discussion with James Urbach - ESOP trusteeJames Urbach has been doing ESOPs for the last 20 years transitioning from the Department of Labor to transacting ESOPs and providing the functional role as independent trustee. He has some great insight into the lifecycle of an ESOP company!2021-05-3145 minJourney to an ESOP & BeyondEP17 - Perfect Storm - ESOP Tsunami - predicting many more ESOPs over next ten yearsThis episode focuses on factual data and interpretive trends to evaluate what is going to happen in new ESOPs over next ten years not more importantly why....2021-05-2143 minJourney to an ESOP & BeyondEP16 – ESOP Politics – discussion with Renee Lewis from Holland and Knight – Chicago, ILIn this episode, Renee and I discuss the current political climate as it relates to ESOP with a particular focus on the new administration. What should we expect in the future relative to the government’s support of this awesome opportunity for selling shareholders, their companies, and their employees?2021-05-1535 minJourney to an ESOP & BeyondEP15 - Taken- selecting the right advisor for your ESOP.This episode outlines the roles as responsibilities of multiple advisors along your journey to an ESOP. There are insights into selecting the right advisor for your situation and general tips on qualifying them to support you in the short and long term as well as help you avoid possible pitfalls.2021-05-0840 minJourney to an ESOP & BeyondEP14 - Why ESOP culture makes a difference! Discussion with Daniel Goldstein from Folience - a portfolio of ESOP companies.In this episode - Daniel and I discuss the particular benefits of an ESOP to the employees - he does a great job of explaining their ESOP culture at Folience and the remarkable story of integrating other ESOP companies into Folience. This episode also digs into the reality of how ESOPs make a difference for all of our communities!2021-05-0238 minJourney to an ESOP & BeyondEP13 - You wanted to be a banker - financing your ESOP transaction.How much cash can you get at closing? This episode provides some insight into how to approach the bank for financing as well as my own research in discussions with over 100 bankers in the last twelve months regarding their approach to financing ESOPs.2021-04-2337 minJourney to an ESOP & BeyondEP12 - Discussion on second stage ESOP transactions with James Bristol and Sean Sullivan with Waller Law Nashville, TN.In this discussion, ESOP attorneys James Bristol and Sean Sullivan walk out the background behind redemption versus sale of stock to ESOP typically used in second stage ESOP transactions supporting a partial ESOP sale strategy. This connects well with Episode 11 regarding the Department of Labor topic.2021-04-1642 minJourney to an ESOP & BeyondEP11 - Pearl Harbor - DOL invasion for an ESOP transaction with redemption versus saleThis episode delves into the DOL (department of labor) investigating ESOP transactions to help understand the potential structure of an ESOP transaction using redemption of stock versus the sale of stock to the ESOP.2021-04-0926 minJourney to an ESOP & BeyondEP10 - Interview with Nick Francia with UBS regarding the 1042 transaction.This episode covers the details of a 1042 transaction through a discussion with Nick Francia at UBS - we cover the floating rate notes and leveraging the qualified replacement property with either an active or passive investment strategy.2021-03-3131 minJourney to an ESOP & BeyondEP9 - Braveheart - Control vs. Non-Control affecting your ESOP transaction.In this episode we discuss the issues related to control versus non-control - in other words what portion of the company are you selling. If the ESOP purchases something less than control - than there will likely be a reduction in the valuation.2021-03-2629 minJourney to an ESOP & BeyondEP8 - Flexibility of structuring an ESOP for your succession plan. Interview with Pete Profumo at Braden Kitchens, Inc 100% ESOPThis episode provides a discussion with 100 percent ESOP company - Braden Kitchens, Inc. - President and former owner - Pete Profumo to better understand the flexibility of using an ESOP especially to meet the goals and objectives of the selling shareholder.2021-03-1628 minJourney to an ESOP & BeyondEP7 - ESOPs for contractors - discussion with Michael Strahan of KPS Bonds out of San Diego CA.In this episode - Michael Strahan and I discuss how the bonding company's look at the ESOP transaction. Very helpful information related to possible structuring your ESOP deal as a contractor dealing with future bonding, government customer certifications, and personal indemnity.2021-03-0834 minJourney to an ESOP & BeyondEP6 - ESOPs for Contractors discussion with Ben Wells - ESOP attorney Cincinnati, OHThis episode is a continuation of a discussion on the applicability of ESOPs for contractors - Ben and I discuss the areas that need to be addressed when advising a contractor on utilizing an ESOP for their succession and exit plan.2021-02-2545 minJourney to an ESOP & BeyondEP5 - Titanic vs. The Love Boat - ESOPs for contractorsThis episode is the first in a series that focuses on understanding the applicability of utilizing an ESOP to help a contractor through the succession and exit process.2021-02-1931 minJourney to an ESOP & BeyondEP4 - ESOP financing for Government Contractors with Patrick Stoltz at Wintrust BankThis episode provides a discussion with Patrick Stoltz at Wintrust Bank out of Chicago, IL about the particularities of lending for the buyout of an ESOP to a government contractor type business. It is an excellent compliment to episode 53.2021-02-1135 minJourney to an ESOP & BeyondEP3 - Any Given Sunday - Overtime. Competitive Analysis for your company going towards ESOPThis episode is part 2 on understanding competition by exploring the importance of evaluating your competitive landscape and goes deeper to provide insight into how to accomplish this task and what tools you might want to use in the process.2021-02-0330 minJourney to an ESOP & BeyondEP2 - ESOPs for Rollup companies - discussion with Steve Goodman - ESOP attorney from Louisville, KYThis episode focuses on why you might want to consider a roll up or consolidation of multiple businesses. Steve and I cover how it works and what are the benefits of leveraging this into an ESOP transaction.2021-01-2536 minJourney to an ESOP & BeyondEP1 - Any Given Sunday - Competitive AnalysisThis episode covers the basics in documenting your competition as a step along the process of moving towards an ESOP transaction. It will provide a discussion on the importance of documenting competition and practical steps in getting started.2021-01-1833 minJourney to an ESOP & BeyondEP55 - Medical practices as ESOPs - interview with Richard Glassman - ESOP attorney from Connecticut.In this episode Rich and I highlight the ability to transition a Medical practice to an ESOP and solutions related to proper licensing.2021-01-0740 minJourney to an ESOP & BeyondEP54 - Home alone - What are you going to do with your business?This episode highlights the issue of being prepared with a succession and exit plan relative to an ESOP. It encourages the listener to avoid planning in a crisis situation by covering pitfalls of not planning and some areas of motivation.2020-12-3131 minJourney to an ESOP & BeyondEP53 - Government Contractors as ESOPs - interview with ESOP attorney Andy Watson from Hunstsville, ALThis episode focuses specifically on government contractors becoming ESOPs with an informative interview with Andy Watson with expertise in both ESOPs and Government Contractors.2020-12-2434 minJourney to an ESOP & BeyondEP52 - Inception Deception - Evaluating your business valuationThis episode provides insight into one of the most important numbers you need in evaluating the sale of your business. There is helpful information to help you review your business valuation so that you can determine if it is truly a valid estimate of the potential enterprise value of your business.2020-12-1836 minJourney to an ESOP & BeyondEP51 - Interview with Certified EO's CEO - Thomas Dudley from Oakland, CAThis interview debuts a fairly new company providing support related to communicating the ESOP message throughout the company to employees. Thomas explains the need to build an ESOP culture and how their tools really add value to the process.2020-12-1140 minJourney to an ESOP & BeyondEP50 - Fast Car - Emotional Issues Related To Selling Your Business To An ESOP.This episode peers into some of the psychological and emotional issues that business owners should be aware of as they work through a potential transaction towards an ESOP.2020-12-0131 minJourney to an ESOP & BeyondEP49 - Interview with Renee Lewis - ESOP attorney with Holland & Knight from Chicago, ILIn this episode Renee and I discuss the roadmap for an ESOP closing and go into detail as to the documentation of the ESOP transaction as well as some of the pitfalls in getting deals completed.2020-11-2443 minJourney to an ESOP & BeyondEP48 - To be or not to be - the choice to be an ESOP internal trusteeThis episode evaluates the risk related to becoming an internal trustee for an ESOP company. What are the risks of being a trustee and does it make sense for your ESOP to plan on having an external trustee. We discuss some of the pros and cons to help companies plan for this important aspect on their journey to an ESOP. 2020-11-2026 minJourney to an ESOP & BeyondEP 47 - Interview with Jim Rolfe (ESOP lender) with CIBC Bank US out of Chicago, ILThis interview focuses on the process of ESOP lending for the leveraged transaction considering the underwriting process. It also discusses how a bank can do loans for ESOPs outside their market.2020-11-1236 minJourney to an ESOP & BeyondEP46 - Family Ties - issues of a family business in relation to an ESOP.This episode is going to focus on understanding how the issues of a family business can affect your plans to utilize the ESOP as a strategy for succession and exit of your business.2020-11-0634 minJourney to an ESOP & BeyondEP45 - Moonstruck - You talking to the owner here!This episode explores the ESOP company from an owner perspective. There are a lot of wins when it comes to an ESOP but consider for a moment how the customer wins in dealing with an ESOP company.2020-10-2934 minJourney to an ESOP & BeyondEP44 - Who is in control of my ESOP - Interview with ESOP trustee - Neil Brozen, Minneapolis, MinnesotaThis episode helps to explain the role of the board and trustee to shed some light on who is in charge of an ESOP company2020-10-2239 minJourney to an ESOP & BeyondEP43 - Norm! Normalization adjustments for business valuation of ESOPsThis episode focuses on explaining the process of doing normalization adjustments to properly estimate cash flow for a company's business valuation. Normalization adjustments can make a big difference in your numbers on your planning for an ESOP.2020-10-1329 minJourney to an ESOP & BeyondEP42 – Interview with Greg Daugherty, ESOP attorney from Columbus OH to discuss 401(k), ESOPs and KSOPs.This is our 2nd interview with Greg Daugherty with Porter Wright in Columbus, OH. Greg and I discuss the planning side of what companies will do with their existing 401(k) plans when you combine them with a brand new ESOP. What are the issues behind safe harbor and highly compensated people. Additionally, what is a KSOP and when would we want to incorporate their use in the planning of your new ESOP. 2020-10-0832 minJourney to an ESOP & BeyondEP 41 - What is one thing you would do as President? Strategic Planning for companies going ESOPThis episode covers an overview of how to do strategic planning in a step by step process to be prepared to move through the ESOP process with an advantage that provides higher valuations and more sustainable results.2020-09-2938 minJourney to an ESOP & BeyondEP40 - Interview with Tim Jochim - ESOP Attorney - The Godfather of ESOPsThis episode provides a guide for company owners considering an ESOP through an interview with a very experienced ESOP attorney from the Midwest. We discuss many things including what makes a good target company for an ESOP and how to find the right ESOP team to facilitate a healthy transaction.2020-09-2128 minJourney to an ESOP & BeyondEP39 - 1042 - set hike - tax play for an ESOPThis episode provides an overview of the 1042 tax treatment for Capital gains tax deferral benefits applied to an ESOP transaction.2020-09-1122 minJourney to an ESOP & BeyondEP38 - Interview with ESOP company - Southeastern Surveying and Mapping...Brian Garvey - Orlando, FLThis episode allows us to look at the ESOP transaction process from the point of view of one of the key corporate managers going through the process. Brian and his fellow managers had the opportunity to purchase the company as an MBO but decided on a 100 percent ESOP instead. This is a very informative episode.2020-09-0431 minJourney to an ESOP & BeyondEP37 - SAR - a long, long way to runThis episode covers the details behind how SARS - Stock Appreciation Rights programs are utilized in ESOP transactions as management incentive plans.2020-08-2830 minJourney to an ESOP & BeyondEP36 - Interview with Andy Daly and Stephen Eide - ESOP attorneys from Minneapolis, MNThis interview is titled: "Things I wish I knew before I did my ESOP deal." We will cover the wrong expectations of sellers on ESOP deals and some areas that are good to know before you go into the planning process.2020-08-2237 minJourney to an ESOP & BeyondEP35 - Bill and Ted - Face The Music of 409(p)In this episode we find both Bill and Ted dealing with 409(p) issues related to their ESOP deal that they did back in EP 19 "Bill and Ted's ESOP adventure." They had made some mistakes and now have issues with disqualified people and violations with their S-Corp ESOP - find out how they solve their 409(p) issues.2020-08-1722 minJourney to an ESOP & BeyondEP34 - Interview with John Burgess - debut of FLCEO new non-profit in Florida to help ESOPsThis episode is dedicated to the newly created Florida non-profit called FLCEO or Florida Center of Employee Ownership. We interview John Burgess, a board member of the organization and practicing ESOP attorney in Tampa, Florida discusses the mission of providing resources to those interested in an Employee Stock Ownership Plan.2020-08-1022 minJourney to an ESOP & BeyondEP33 - The Accountant - The Need For AccountabilityThis episode helps to evaluate the need in your organization for accountability and it's impact on your company converting to an ESOP. In a statistic from Forbes magazine - 93 percent of employees don't even understand what their organization is trying to accomplish - how can they be accountable...to what?2020-08-0629 minJourney to an ESOP & BeyondEP32 - Anatomy of an ESOP Transaction - recorded negotiation case study with Miguel Paredes (trustee) and Peter Aliferis (advisor)This episode is a recording of a negotiation of an ESOP transaction to illustrate the offer and counter offer aspects of an ESOP transaction with insight into key areas like valuation and synthetic equity to better understand the process of negotiation from both the sell-side and buy-side perspectives.2020-07-3143 minJourney to an ESOP & BeyondEP31 - The Good, The Bad, and The Ugly - Customer Concentration Issues for ESOPsThis episode focuses on the issues related to customer concentration and how it affects your ESOP transaction. The podcast provides recommendations to plan through this issue for your transaction and boost your value in the process.2020-07-2426 minJourney to an ESOP & BeyondEP30 - Interview with Jack Veale - Building Ownership CultureThis interview with Jack Veale dives into helpful information for companies looking at ESOP using tips from Jack's book "Creating Strategic Innovation"2020-07-1732 minJourney to an ESOP & BeyondEP29 - The Art of War - Negotiation of an ESOP transaction.This episode highlights the best practices for the negotiation of an ESOP transaction. It works through each step of the ESOP process and recommends preparation, the right team, and alignment with goals and objectives.2020-07-1329 minJourney to an ESOP & BeyondEP28 - Breakfast Club - The Importance of Culture for an ESOPThis episode is helpful to explore you business culture in ways to prepare for an ESOP. "Culture eats strategy for breakfast" Peter Drucker2020-07-0225 minJourney to an ESOP & BeyondEP27 - Interview with ESOP attorney Jason Ray from Dallas, TXThis interview digs into the issue of interim valuations and how they might be used during an economic downturn. Jason's experience with ESOPs offers valuable insight into managing these types of ESOP issues.2020-06-3035 minJourney to an ESOP & BeyondEP26 - The Hunger Games - What is the deal with Warrants on ESOP transactions.This episode will provide an overview of warrants used on ESOP transactions. A simplified case study is provided to help understand the use of warrants and relevant issues.2020-06-2423 minJourney to an ESOP & BeyondEP25 - Interview with Greg Daugherty - ESOP Attorney, Columbus OHThis episode examines the seller's perspective and key management in evaluating the benefits and options of an ESOP, from the viewpoint of an experienced ESOP attorney2020-06-1728 minJourney to an ESOP & BeyondEP24 - IRON MAN - Dealing with Difficult Leadership Decisions for your ESOPThis episode focuses on assessing the issues related to leadership problems and solutions to strengthen your business to support ESOP transition.2020-06-1220 minJourney to an ESOP & BeyondEP23 - Interview with Joseph Sophia - First Financial Bank, Columbus OHThis interview with ESOP experienced banker Joseph Sophia will help the listener to better understand the process the bank goes through in underwriting an ESOP loan and the potential changes with COVID-19.2020-06-0534 minJourney to an ESOP & BeyondEP22 - Before it Erupts - Kaboom! Working through business volatilityThis episode focuses on issues related to business volatility as it is a major hurdle for companies trying to go ESOP. The episode focuses on solutions to help the companies address business volatility.2020-06-0221 minJourney to an ESOP & BeyondEP21 - Interview with ESOP attorney - David Joffe - partial ESOPsThis episode explores partial ESOPs as either non-leveraged, non-leveraged with redemption, or leveraged. It provides a good overview of each type with pros and cons so that the listener can better understand their options early on in the ESOP process.2020-05-2729 minJourney to an ESOP & BeyondEP20 - Interview with Miguel Paredes - former DOL supervisor now Trustee Los Angeles CAThis episode provides a unique perspective by interviewing Miguel Paredes - an independent trustee that has prior experience in working for the department of labor reviewing ESOPs. We cover the DOL process agreement to better understand the approach to putting an ESOP deal together with best practices. 2020-05-2131 minJourney to an ESOP & BeyondEP19 - Bill and Ted's ESOP Adventure - 1+1=4This episode helps the listener better understand the process of merging entities and percentages to maximize the valuation and create a more sustainable ESOP. 2020-05-1820 minJourney to an ESOP & BeyondEP18 - Interview with ESOP business valuation expert - Will Rodriguez - Tampa, FLThis interview focuses on the business valuation process to support the ESOP transaction with trustee expectations and role of valuation firm. Will has over 20 years experience and offers insight into the process and current situation with Covid-19's effect on existing transactions and existing ESOP companies and how they may be utilizing interim valuations.2020-05-0926 minJourney to an ESOP & BeyondEP17 - Risky Business - Focus on risk related to Access to Capital.For companies on a journey to an esop - this episode covers the significance of addressing and mitigating business risk with a focus on the risk of a business in terms of their access to capital. The podcast provides some ways to mitigate this risk.2020-05-0423 minJourney to an ESOP & BeyondEP16 - Interview with Brandon Ernstes ESOP insurance expert with Houchens Insurance, Nashville TNThis episode tackles the perspective of an ESOP insurance professional and the role that they play in the process of a new ESOP company.2020-04-2924 minJourney to an ESOP & BeyondEP15 - Did Uncle Sam Go Crazy? ESOPs - issues and opportunities related to tax exempt S-corps.In this episode details related to the ESOP tax exemption for S-Corporations and a brief discussion on its limitations that need to be addressed early on in the planning process.2020-04-2722 minJourney to an ESOP & BeyondEP14 - Interview with ESOP Trustee - Wayne Isaacks from Houston, TX - discussion on ESOPs during the Covid-19 crisisThis interview focuses on the role of the independent trustee in an ESOP transaction. The discussion also explores transactions during economic times of uncertainty.2020-04-2025 minJourney to an ESOP & BeyondEP13 - Interview with Commercial Banker - David Stahl from Hillcrest Bank, Salt Lake City, UT - PPP loan processThe interview focuses on the PPP process from the commercial banker's perspective. David Stahl offers great insight for companies going through the process and has funded over $100 million in new PPP loans in the past two weeks.2020-04-1625 minJourney to an ESOP & BeyondEp12 - Dante's Inferno - Reinventing Your Business Model Through Times of UncertaintyThis episode comes at a critical time in our economy for those considering an ESOP - especially those affected by the shutdown - this podcast helps provide insight and practical steps to reinventing your business.2020-04-0922 minJourney to an ESOP & BeyondEp11 - Interview with Bonding Agent with ESOP experience - Margie Morris from Guignard CompanyThis interview within the surety/bonding industry covers a lot of the areas that a contractor should be aware of if they are transitioning to an ESOP. It is important to better understand working capital, personal indemnity, and surety focal points from a seasoned bonding agent's perspective.2020-04-0623 minJourney to an ESOP & BeyondEp10 - We The People - "Employees" - Cultivating Talent for your ESOPEp10 - We The People - "Employees" - Cultivating Talent for your ESOPThis episode explores the value of one your business' greatest assets with a practical and objective way of cultivating that talent in alignment with your specific business.2020-04-0321 minJourney to an ESOP & BeyondEp9 - Interview with an Orlando ESOP Attorney - Jay Van HeydeThis episode provides insight for the listener from the perspective of an ESOP attorney located in Orlando Florida including cost, complexity issues, warrants and ESOP document plans.2020-03-2021 minJourney to an ESOP & BeyondEp8 - Time in a bottle - Effects on a business valuationThis episode focuses on the current time we are in and how the changes in interest rates affect your business valuation for companies moving towards an ESOP2020-03-1822 minJourney to an ESOP & BeyondEp7 - Mt. Everest part 2 - Revenue PlanningThis episode is part 2 of the revenue planning entitled Mt. Everest. It focuses on the quality of revenue and specific categories to consider that impact your business valuation for companies going ESOP.2020-03-1322 minJourney to an ESOP & BeyondEp6 - Mt. Everest Part 1 - Revenue PlanningEpisode 6 - Mt. Everest - join the journey to an ESOP with part 1 of a 2 part series on building revenue plans to climb high towards your goal of selling to an ESOP.2020-03-0919 minJourney to an ESOP & BeyondEp5 - Nostradamus - Forecast Financial InformationEpisode 5 - Forecasting can be difficult for some companies. It is fundamental to the valuation and other planning for companies that have an interest in being an ESOP.2020-03-0521 minJourney to an ESOP & BeyondEp4 - ESOPportunity - Episode 4Episode 4 - Better understand what opportunities the ESOP provides in planning. The process of planning your ESOP actually matters as it is a build up process that happens one step at a time and needs to be win-win deal for each party.2020-03-0123 minJourney to an ESOP & BeyondEp3 - Management Transition Planning - The continuum part 2Ep3 - I am calling this episode the continuum part 2...which basically means the ongoing management transition planning which is the seemingly never-ending process that every business never fully completes2020-02-2422 minJourney to an ESOP & BeyondEp2 - Management transition planning - The continuumEp2 - Management transition planning - The continuum2020-02-1919 minJourney to an ESOP & BeyondEp1 - Enough Information to be DangerousEpisode 1 Enough Information to be Dangerous2020-02-1823 min