Alternative Exit
Alternative Exit
Podcast Description
Alternative Exit is a dedicated to educating small business owners about the possibilities, benefits, and challenges of transitioning to an employee ownership model.There are over 200m SMEs with an owner who will be retiring in the next 10 years, many of which will never find a buyer for their business, forcing them to close their doors. There is an alternative. This show will explore various the different forms of employee ownership and best practices for successful transitions.Each episode features interviews with experts in employee ownership, business owners who have made the transition, and consultants who facilitate these changes.
Podcast Insights
Content Themes
The podcast covers a range of topics including the importance of employee ownership trusts (EOTs), the benefits of differentiated business models such as ESOPs versus worker cooperatives, and strategies for preserving company legacy and culture. Episode examples include discussions on building community resilience through employee ownership and the significant impact of employee engagement in sustainable business practices.
Alternative Exit is a dedicated to educating small business owners about the possibilities, benefits, and challenges of transitioning to an employee ownership model.
There are over 200m SMEs with an owner who will be retiring in the next 10 years, many of which will never find a buyer for their business, forcing them to close their doors.
There is an alternative. This show will explore various the different forms of employee ownership and best practices for successful transitions.
Each episode features interviews with experts in employee ownership, business owners who have made the transition, and consultants who facilitate these changes.
About the episode:
Shannon co-founded 5by5, a Nashville marketing agency that made the Inc. 5000 list in five of its first seven eligible years. As private equity and trade buyers came calling, she realised selling would mean walking in the next day and saying goodbye to the team that built it. Then a new client told her over lunch that his employees owned the company.
Shannon walks Andy through years of research, winning over a sceptical boomer partner, and starting with a 30% ESOP because a bigger loan felt too risky. She explains why she brought 12 leaders into the plan a year early, how 55 people heard the news at Disney World, and why companies need a steady cadence of inspiration and information.
Then a conversation with her mentor, 3LS CEO Eric Strickland, made 5by5 100% employee owned within weeks. Today Shannon leads 3LS Professional Services, part of an employee-owned group of about 1,500 people, and argues the movement should count employee owners, not ESOPs.
Guest:
🔗 LinkedIn: https://www.linkedin.com/in/slitton/
🔗 3LS: https://3ls.com
🔗 5by5: https://5by5agency.com
🔗 Tennessee Center for Employee Ownership: https://www.tnceo.org
About The Alternative Exit:
A podcast exploring employee ownership as a succession planning strategy, hosted by Andy Farquharson of a better monday.
Host LinkedIn: https://www.linkedin.com/in/andyfarquharson/
Learn more: https://abettermonday.me
Links and resources
Alternative Exit #42 with Eric Strickland: https://www.youtube.com/watch?v=gNLYhuPNAio
NCEO: https://www.nceo.org
Journey to an ESOP podcast (The ESOP Guy): https://journeytoanesop.buzzsprout.com
The ESOP Association: https://www.esop.org
Book: The Five Dysfunctions of a Team, Patrick Lencioni
#EmployeeOwnership #ESOP #SuccessionPlanning #BusinessExit #AgencyLife #OwnershipCulture #SilverTsunami #Leadership #EmployeeOwned
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