Journey to an ESOP & Beyond

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.

This episode is the finale in a three part series discussing the elements of your CIM - confidential information memorandum - to best support your presentation during the site visit with the trustee and valuation firm.  This podcast highlights the importance of reviewing the financial information both historical and forecast as well as understanding the working capital.  It also delves into discussions around the ESOP transaction so that any potential issues can be clarified within due diligence and prior to negotiations.

This episode focuses on the general issues of 409(p) as it relates to S-Corp ESOPs and the nuances of how a company's other interests could affect compliance with the anti-abuse test.  Cass Hollis offers a depth of wisdom and experience on the topic to point out to companies on a journey to an esop what to look for and potential solutions to work through the issue.

This is the second part in a series of episodes to go into how the CIM - confidential information memorandum is prepared.  In this episode we discuss how the company overview should be thought out and planned for dealing with the best practices of presenting the company, leadership group, strengths and weaknesses and other critical areas to prepare for on your journey to an ESOP.

On this episode - Katie Hardin and I discuss compliance requirements of brand new ESOPs to help you before you get to closing including booking the ESOP entry, working through the set up of the inside loan, issues that arise with the board of directors and other various areas.

This episode is going to focus on preparing for the Confidential Information Memorandum or CIM - this is the presentation that will provide a thorough overview of the industry and company information to prepare for negotiations of your ESOP.

This episode is truly valuable for companies thinking about an ESOP - as it helps to walk out the ESOP process in a real life experience.  It is especially helpful for general contractors and to go through a Joe Hurt's journey to an ESOP!

In this episode we relate the recent movie Free Guy with dealing in reality of a recession and work through some ideas that might make sense for the possibility of an economic recession.  For companies going through an ESOP - a sustainable ESOP company has to be prepared for good and bad economic times.

This episode is unique as we evaluate a start up company that is planning to roll up veterinary practices all over the United States using an ESOP strategy.  Galaxy Vets has identified a strategic way to leverage the benefits of an ESOP and combine the value of creating a larger holding company structure.

One of the skill sets that has increasingly become more valuable in the talent that we recruit, retain and motivate within an ESOP culture is creativity.  This podcast delves into the importance of creativity  and innovativeness in the workplace as a sought after skill set and as something that should be cultivated in your organization as it makes a significant difference in the value of your business, sustainability of the ESOP and the success of your succession planning.