“Responsibility equals accountability equals ownership. A sense of ownership is the most powerful weapon a team or organization can have.” – Pat Summit, former national champion women’s basketball coach The hardest part was probably getting here: Deciding to exit the company that’s been your life, and your baby, and your endless focus. You want to […]
Are you considering what it would look like to exit your business in a few years time? Or perhaps you’re already at the stage where you want or need to leave. The way to achieve this, with your head held high, money in your pocket, and your legacy intact, is by planning your next steps […]
The simple fact is that ESOPs are here to stay as an effective and powerful business succession strategy. This isn’t merely wishful thinking from a firm of strong ESOP believers, it’s evident by the encouragement that Congress keeps showing. Take the pilot program created by Section 874 of the National Defense Authorisiation Act (“NDAA”) which […]
A Senate committee has approved a measure to expand employee access to workplace retirement plans. It seems like a simple enough statement that might not register as newsworthy, but this is anything but simple and in fact, history has been made! In June 2022, the United States Senate Health, Education, Labor, and Pensions (HELP) Committee […]
“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