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
Is an ESOP Right for You as a Liquidity or Exit Planning Strategy?
Our featured guest in this episode is Leslie Lauer, Managing Director and Senior Portfolio Manager at RBC Wealth Management. Leslie specializes in ESOPs, and shared some highlights of her years of experience as a trusted advisor.
Leslie's background in banking and accounting was the foundation for her career path to advising on deal structure for ESOPs. She's also a former entrepreneur herself (a company owned by an ESOP) which takes her advice from a theoretical perspective to a practical one. Her Board positions with ESOP organizations like the National Center for Employee Ownership give her an edge that's rare in a space that can be misunderstood and therefore underutilized as an exit option.
We unpacked some of the nuances of ESOPs and realized we'd need a Part 2, so look out for that soon. While she was on the show, Leslie took the time to explain what an ESOP actually is for our listeners who may not be as familiar:
- A Transition Tool
- A Retirement Plan
- A Tool for Deferred Growth.
In addition, we talked about how ESOP is a Defined Contribution Plan, similar to a 401K Plan. ESOPs are governed by ARISA and follow compliance regulations set forth by the Department of Labor and the IRS. That may sound complicated, but if you have someone like Leslie to help facilitate and bring the team together, it can be a fantastic way for all stakeholders to win.
You can contact Leslie here to get your questions answered, whether you are an advisor or business owner.
Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor