“Every exit is an entrance somewhere else.” – Tom Stoppard The reality you never could have imagined, all those years ago, is here. Business exit strategy? Succession plan? Strange acronyms such as “ESOP?” Seriously? Creating is hard. Letting go might be even harder. It’s time to exit the business you spent your life – employing […]
ESOPs (employee stock ownership plans) have historically been misunderstood. As a result, they haven’t always been as popular as, say, opting to sell outright to a private equity group.
An ESOP (Employee Stock Ownership Plan) is a type of employee benefit plan that gives employees stock options and allowing them to buy shares in the company at a set price.
Employee stock ownership plans (ESOP) are becoming increasingly popular, not just as a viable succession plan for business owners, but also for the company.
“Train people well enough so they can’t leave, treat them well enough so they don’t want to.” – Richard Branson
“Paying your employees well is not only the right thing to do, but it makes for good business.” – James Sinegal
“The added cost of higher wages is offset by savings from lower labor turnover and higher labor productivity.” – Anonymous
“You don’t build a business – you build people – and then people build the business.” – Zig Ziglar
“When employees are happy, they are your very best ambassadors.” – James Sinegal
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 […]