Transitioning Your Business To ESOP (with Chris McKee)

P&L: Priorities & Lifestyle

Chris McKee returned to the show to discuss the recent transition of his company, Venturity, into an ESOP model. Rob and Chris discussed what it means to have a company be employee owned rather than selling to private equity, why it’s so impactful for employees to be able to build wealth within their careers, and how the process went. Rob and Chris also talked about why business owners need a team around them that can work well with each other in supporting the needs of the business. Join us to learn why ESOP is such a great option for founders looking to transition out of leadership.

Contact Chris at [e-mail]

"An ESOP transition tends to be much more successful than a typical, maybe capital based exit, whether it's private equity or strategic, if you want to ensure the longevity of your company." - Chris McKee

This week on Priorities Lifestyle:

• Going From A Carpenter To A Serial Entrepreneur

• Selling A Company At 37 And Starting Over

• Building Multiple Successful Companies

• Learning When To Start Delegating

• Pushing Yourself To Go Farther, Even When You Don’t Need To

Our Favorite Quotes:

• "Our team members, as they're getting ten, $20,000 in their ESOP account. It's going to be really meaningful wealth for their families." - Chris McKee

• “As business owners, just be aware that it takes a team of people to support you. And what we try to do is we all try to communicate with each other and come up with fantastic solutions for our clients." - Rob Schulz

• "You know what makes me feel great is, I'm very invested in the team's success going forward, not just as an owner, but they're my friends, and so I want to see them be successful so they can find meaning in their work as well.” - Chris McKee

About Rob Schulz and P&L Priorities & LIfestyle Podcast

The P&L: Priorities & Lifestyle Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company.

Email Rob at [e-mail] with questions and comments, or to schedule a one-on-one conversation.

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*You’re listening to P&L: Priorities & Lifestyle with your host Rob Schulz. Rob is the Founder and President of Schulz Wealth. All opinions expressed by Rob and his guests are solely their own opinions and do not reflect the opinions of Schulz Wealth. This podcast is for informational purposes only and should not be relied upon for investment decisions. Please refer to our website for more information: schulzwealth.com.