Poised for Exit
Welcome to the Poised for Exit podcast! Poised for Exit is an under 30-minute strategic planning guidance podcast for busy small business owners. Each week you’ll hear certified exit planning advisor, Julie Keyes, talk with a range of entrepreneurs and professionals about preparing your business for a future transition. Guests at every stage of company ownership will share their personal stories and lessons learned about topics such as the anatomy of the exit planning process, developing a growth strategy, how to sell on your terms, exit planning for women small business owners, handling business diversity, and how to sell a family business. Whether you’re planning an exit in the near future or not, this show will provide you with the same action-oriented content that Julie utilizes while consulting with Keyestrategies clients. Building an exit strategy can be overwhelming, especially with all the decisions and details you have to consider. “Poised for Exit” will simplify the process and help you unwrap the unknowns, giving you more confidence in your planning process. Previous episodes are available for download, so if you are new to our show, you can listen to them in any order that suits you. Join us each week for timely, relevant content that will surely impact your business exit outcome! Subscribe to our newsletter below to receive your weekly episode link and stay updated on new strategic planning content. Find “Poised for Exit” on Spotify, Apple Podcasts, Google Play, iHeart Radio, Amazon Music, and others. Thank you to our Sponsors: Sunbelt Business Advisers and JAK CPA's. A special note of thanks to Tyler Keyes who produced the music for the “Poised for Exit” show.
Poised for Exit
CFO of YTS companies Shares their ESOP Journey, with Guest Host, Kyla Hanson of JAK CPA's!
CFO of YTS companies Shares their ESOP Journey, with Guest Host, Kyla Hanson of JAK CPA's!
Our episode today featured a guest co-host with Kyla Hansen, Partner at JAK CPA's and Sponsor of the Poised for Exit Show!
Kyla's client, YTS Companies, became an ESOP in 2021 with the help of JAK's team and Kyla's expertise. Kyla invited YTS CFO, Andy Yetzer to share the story of how their company pursued an ESOP transition and after facing some obstacles, successfully organized a structure for ESOP that will eventually involve all three of their companies while honoring the future exit timelines of its founders.
Andy shared that it was through the expert guidance of JAK that they were able to eventually accomplish their goal. Not only did JAK serve as their accounting firm, but also led the assembly of a collaborative advisory team and acquisition of independent Board members.
A couple of key tips they both recommended for our listeners considering ESOP were to know the current value of the business before making any transition decisions. If the value is not where it needs to be, work on strategies to grow it.
The other is to educate yourself on what an ESOP is and know the basic qualifying criteria before making any decisions. A good resource for employee ownership education is here
Listen to the episode here
Find Kyla here
Find Andy at YTS Companies here
Find Julie here
Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor