Journey to an ESOP & Beyond
Jason Miller & Makenzie Wirth
ESOPs are gaining traction. In the "Journey to an ESOP & Beyond” podcast, Doeren Mayhew's Jason Miller and Makenzie Wirth explain the process of the ESOP transaction and address ESOPs from a business owner's perspective. They illuminate the simplicity of ESOPs and debunk common misconceptions that ESOPs are immensely costly and complicated.--“Doeren Mayhew" is the brand name under which Doeren Mayhew Assurance and Doeren Mayhew Advisors, LLC and its subsidiary entities provide professional services. Doeren Mayhew Assurance and Doeren Mayhew Advisors, LLC (and its subsidiary entities) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. Doeren Mayhew Assurance is a licensed independent CPA firm that provides attest services to its clients, and Doeren Mayhew Advisors, LLC and its subsidiary entities provide tax and business consulting services to their clients. Doeren Mayhew Advisors, LLC, DM Payroll Solutions, Doeren Mayhew Capital Advisors and their subsidiary entities are not licensed CPA firms.
Episodes
Mentioned books
Jan 19, 2022 • 34min
EP1 - (Season 3) Life of Pi - 2021 Year in Review
Happy new year everyone! This episode highlights my favorite episodes of ESOP podcasts for a quick review of some interesting topics including: ESOPs as roll ups; ESOPs for contractors; ESOP politics; ESOP boards adding value; and ESOP culture to name a few that we discuss.
Jan 10, 2022 • 39min
EP44 - The challenges of ESOP financing with Jamie Walrack...First American Bank from Chicago, IL
This episode provides a solid discussion on ESOP financing with experienced ESOP lender with First American Bank. It really does matter who you choose to finance your transaction and what your eventual banking relationship is going to look like once the transition is complete.
Dec 29, 2021 • 35min
EP43 - Jurassic Park - due diligence on ESOP deals
This episode reviews the issues related due diligence on ESOP deals. One of the steps along the journey to an ESOP is to work through due diligence with the transaction trustee and their valuation firm. It is a critical step and always better to plan early for due diligence so everything else goes smoothly.
Dec 21, 2021 • 46min
EP42 - Third Party Administrator's role in the ESOP ...discussion. With Carla Klingler at Blue Ridge and Associates.
In this episode Carla and I discuss the planning needed for a company on a journey to an esop dealing with 404, 415, and 409(p) requirements, limitations and application of the rules to make sure your company is ESOP feasible. Carla has a really cool background - and actually worked with Louis Kelso economist who is notably the inventor and founder of ESOPs.
Dec 10, 2021 • 35min
EP41 - JAWs - Finding your Blue Ocean Strategy on your journey to an ESOP
This episode highlights "The Blue Ocean Strategy" by Renee Mauborgne and W. Chan Kim to help you prepare for your end of year planning strategies. The episode provides tips on using some of the tools to help walk through the process of creating blue ocean ideas.
Nov 30, 2021 • 32min
EP40 - McFarland - Running on KPIs - How measuring the right numbers can help you on your Journey to an ESOP
This episode covers how key performance indicators can be used to improve the strength of your company and possibly lead to higher business valuations and be an advantage in negotiations for the sale of your company to an ESOP.
Nov 20, 2021 • 40min
EP39 - ESOP board of directors - interview with Richard Cope "how the board can support your ESOP company going to the next level"
In this episode Rick and I explore the value of the board of directors for an ESOP company - definitely helpful for those on a journey to an ESOP to leverage this requirement into an means to support growth and higher valuations.
Nov 11, 2021 • 41min
EP38 - In The Air Tonight - Right People/Right Seats
This episode tackles the work needed for all companies but especially companies on a journey to an ESOP to get the right people in the right seats inspired by me recent Southwest flight. It focus on three primary activities - recruitment strategy, onboarding and letting people go...
Nov 2, 2021 • 43min
EP37 - The Decision to become an ESOP company - a discussion with Todd Knowlton - CEO of Smooth Fusion from Lubbock, Texas.
In this episode Todd Knowlton, CEO of Smooth Fusion explains his reasons to turn his company into an ESOP. In this case, Todd and I went through the ESOP process as a non-leveraged contribution for this first step on his journey to an ESOP - find out what his factors were and why their company went this route.
Oct 20, 2021 • 40min
EP36 - The Lost Boys - The "Cost" of an ESOP transaction
This episode we explore the cost of an ESOP - going through the comparison of an M&A transaction with an ESOP - similarities, differences and result of how that is interpreted in the ESOP marketplace.
