Growing Your ESOP to a New Level, 296

In our previous conversation with Jeff Taylor (episode 292) we introduced the idea of ESOPS (Employee Stock Ownership Plans) as a way to give true ownership to your manufacturing business employees. We invited Jeff back for this episode to tell us more of the journey he’s been on with ESOPs and discovered that the outcome was more than he could have imagined.

Going back to the beginning of the process for Jeff, he has spent his adult life working for others and adding value to their companies. But he never received any sort of extended value or equity in the company. His experience led him to think about how he could develop cultures and attitudes among working teams that enabled them to truly have ownership in the company (in terms of mindset AND equity). That’s when the idea of ESOPs (Employee Stock Ownership Plans) came onto his radar. This episode explores the topic in greater detail and will open your mind to how your manufacturing business could be organized to leave a legacy through your employees.  

Segments

• [1:13] Thank YOU for being such loyal listeners
• [3:45] Manufacturing news: NASA “dart” mission
• [7:35] Resuming our previous conversation with Jeff Taylor about ESOPs
• [15:10] The conscious decisions and eventual growth that make and ESOP reality
• [27:49] Nobody set out to sell, but they wanted to be ready for the best situation
• [35:51] The timeline and summary and how the company is different now
• [37:52] Jeff’s view of the ESOP in the continuum of possibilities, pros and cons

Resources mentioned on this episode

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Visit our Sponsor Xometry

• Connect with Jeff on LinkedIn
• NASA “DART” mission
• BOOK: Progressive Partnerships
• BOOK: Name of the Wind
• BOOK: Hitler’s Monsters

• Crafts Technology – the company Jeff served and that sold to Hyperion Technologies
• Previous MakingChips episode (292) featuring Jeff

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