Retire With an ESOP … Or Not [Arjun Sen Podcast]

The power of ESOP podcast guest

“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

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!

Focus on the future MMAC

“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 […]

ESOPs Are All About Employees (Benefits, That Is)

employee benefits part 2

Employee Benefit Plan, Part 2 “If everyone is moving forward together, then success takes care of itself.” – Henry Ford There’s a radio station that’s been around for centuries. Longer, even. Its origin dates to the dawn of human history – well before Guglielmo Marconi invented radio as we know it. Everyone knows this station, […]

ESOP – That’s an Employee Benefit Plan, Right?

Is an esop an employee benefits plan?

“Everything should be made as simple as possible but not simpler.” – Albert Einstein Drive around town. Count the number of “Help Wanted” or “Now Hiring” signs. How long before you lose count? Employers are pulling out the stops to find workers. Many offer signing bonuses for new hires. Others provide fat bonuses to employees […]

ESOP vs. Profit Sharing – Which Has the Edge?

Which has the edge ESOP

“An incentive is a bullet, a key; an often tiny object with astonishing power to change a situation.” – Steven Levitt It’s far more efficient to retain employees than hire and train new ones. Most estimates put upfront costs of onboarding a new worker at one-third to one-half the salary of the person being replaced. […]

ESOP vs. Profit Sharing – What’s the Difference?

ESOP vs Profit Sharing

“Show me the incentive and I will show you the outcome.” – Charlie Munger As a tight labor supply squeezes the American economy, employers are searching high and low for mechanisms to wring more productivity from their workforces. The silver bullet depends on the consultant you ask. Many organizations default to financial incentives. Who does […]

Two Local ESOPs

More Employee Ownership Close to Home! More and more organizations have stopped asking “What is an ESOP?” or “What does an ESOP stand for?” … and started creating them. In fact, two companies in Excel Legacy Group’s backyard have recently taken significant steps toward employee ownership! Steinhafels Furniture, an 87-year-old home furnishings company with 16 […]

BizTimes Notable Alumni – Excel Legacy Group

BizTime Notable Alumni

It’s Nice to be Notable! “It is in your moments of decision that your destiny is shaped.” –Tony Robbins How many of us, back in our secondary education days, had a tangible idea of what we would be doing many years hence? Take Patti Plough, President of Excel Legacy Group. She graduated from Gateway Technical […]