The Importance of a Proper Business Exit Strategy
A small business exit strategy is a plan for how you will transition out of your business when it’s time to retire or sell. It includes details on how you will transfer ownership of the business, what financial resources will be required, and who will take over responsibility for running the day-to-day operations. A well-crafted […]
Succession Planning – Turning Over the Reins
As the owner of a business, it can be daunting to think about one day not being involved in the operation. Succession planning is an essential part of ensuring your business will thrive beyond your involvement. The professionals at Excel Legacy Group are experts in designing plans that support long-term continuity. Through our Employee Stock […]
What are the Three Levels of Business Succession Planning?
Succession planning for businesses is a critical process for operations of all sizes. It ensures that there is a plan in place for when the current owners, leaders, or key employees retire or leave the business. Without succession planning, businesses can quickly become rudderless and directionless, leading to decline and eventual failure. There are three […]
Five Reasons Your Business Needs an ESOP Program
The Employee Stock Ownership Plan (ESOP) is a tool that can help businesses of all sizes retain and attract top talent. It’s a long-term solution to common problems that plague every modern business, yet its value is often overlooked in entire industries and sectors. Here are just a few reasons why more and more companies […]
How to Plan a Successful Business Exit
Whether it is through retirement, selling your business, or something else entirely, it’s important to know the steps needed for a successful exit strategy for your business. This guide will provide an overview of what you should consider before deciding to move on from your business, and how Excel Legacy Group can help. Understanding Your […]
When to Use an Employee Stock Ownership Plan (ESOP)
An ESOP is an employee benefit plan that allows employees to acquire shares in the company they work for. It’s an attractive option for many reasons, including providing tax benefits for both employers and employees. But when should businesses use an ESOP? Let’s explore this further. What Are ESOPs? First, let’s define what an Employee […]
Nurse Turned Entrepreneur [Leading from the Front Podcast]
About This Episode Patti Plough (last name rhymes with blue) started as a nurse. A doctor told her she was more of an entrepreneur than a nurse. She had to look up the definition. That started her journey from paycheck to ownership. Patti built the company on empathy first then service to the clients. And […]
Retire With an ESOP … Or Not [Arjun Sen Podcast]
“Retirement is not the end of the road. It is the beginning of the open highway.” – Unknown Back in early 2020, after she sold the shares of her company to her employees in an employee stock ownership plan (ESOP), Patti Plough considered retiring. She’d been through a lot. Creating the ESOP took some heavy […]
Disruptive Successor Podcast – Sell Your Company Twice Through an ESOP
Joining Jonathan Goldhill in this episode of the Disruptive Successor Podcast is Patti Plough, President, and CEO at Excel Legacy Group, LLC. There are numerous benefits for owners to decide on going for ESOPs instead of selling to third parties when they decide to exit. Some benefits include safeguarding the employment of employees, giving the […]
Focus on the Future? It’s an Honor!
“The best way to predict the future is to create it.” – Peter Drucker An Employee Stock Ownership Plan (ESOP) creates a path where everyone in an organization is invested. They’re engaged. All have “skin in the game.” In short, it’s about the future. Excel Legacy Group helps organizations design and implement ESOPs … and […]
