This week our guest on the show is Michael Koeppel. Michael is the managing director and founder of Lakelet Advisory Group. In his roles as a board director, C-level leader, and business transformation strategist, he has helped companies in the manufacturing, technology, healthcare device, and financial industries achieve sustainable growth and turnarounds. Michael joins us to share his knowledge on the ins and outs of the ESOP (Employee Stock Ownership Plan), who may and may not be a good candidate for it, the costs, the benefits, and more.
Show Notes
[07:31] Challenges –Grant and Michael start off the conversation by discussing some challenges of private equity.
[11:30] Employee Stock Ownership Plan – Michael explains ESOP advantages for mid-sized companies.
[17:02] Adding value – Michael explains the importance of adding value to your company before an ESOP or equity trust.
[21:47] Money – Grant and Michael discuss the significance of picking the right business partners.
[27:00] Trustee – Michael explains the power of the trustee over the company board after a successful transaction with the ESOP.
[37:26] The size – Michael explains why ESOP works better for mid-sized companies versus small ones.
[44:13] Michael’s story – Michael gives us a brief on his career journey and what the next few years will look like professionally.
Resources
ESOP
lakeletag.com/business-valuations/esop
https://www.linkedin.com/company/lakelet-advisory-group-llc/mycompany/